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Governor Hope Uzodinma of Imo State has tasked the Board and Management of the Anambra-Imo River Basin Development Authority to work hard in order close the gaps that exist in water sector, agriculture, power, food security, livestock among others in the South-East and Nigeria, in the course of discharging their duties.

He gave the challenge when he received the Agency’s new team led by Emmanuel Anosike, the Chairman and a Senator on a courtesy visit at the Government House Owerri.

Governor Uzodinma urged the Board and Management to galvanise the Agency’s programmes to be able to address critical areas that exist in the areas within their mandate.

The governor, who congratulated members of the team on their appointments, advised them to avoid project duplication, but cooperate with State Government-owned agencies to harmonise their projects to get the SMEs, adding, ‘and call us for any possible assistance or support.’

He expressed confidence in the integrity of the new Board, given the background of the Chairman, Anosike, and the Managing Director of the Agency, Emeka Nduka whom, he said, ‘are very conversant with the original objectives for setting up that platform and the expectations of the people, and how the organisation will, in collaboration with other agencies, facilitate development in all sectors of the economy.’

Governor Uzodinma advised the Board to avoid project duplications and cooperate with State Governments to address the needs of the people. ”As you do that not only Imo State, the South East but Nigeria will be better for all of us,’ he stressed.

He further urged the Board to hit the ground running as Imo State is indeed happy to play host to the Agency and has them as partners.

‘If you desire more land, don’t hesitate to approach the government. We need to plant what we eat and eat what we plant,” Uzodinma noted.

Earlier, Anosike said that their visit was ‘to pay courtesy call on the host Governor, Senator Hope Uzodinma after the inauguration of the Board in May, 2025.’

He expressed appreciation to President Bola Tinubu for finding them worthy of the appointment and to Governor Uzodinma for his magnanimity, recommendation, and facilitating their appointments in November last year.

This year, the Nigerian Economic Summit (NES) is themed with ‘Reform,’ to highlight how structural reforms can be accelerated to consolidate economic stability, foster inclusive growth, and position Nigeria to achieve its long-term development agenda.

For 31 years, the Nigerian Economic Summit Group, which organises the Summit, has brought private sector leaders and senior public sector officials to discuss and dialogue on the future of the Nigerian economy.

As Nigeria navigates an increasingly complex economic and geopolitical environment, the 31st Nigerian Economic Summit (NES #31) provides a timely platform for critical reflection, coordinated dialogue, and urgent collective action

The Nigerian Economic Summit as an annual event, brings together chief executives/top-level operators from the private sector and very senior government officials to discuss how best to develop the Nigerian economy and monitor the progress that is being made.

The Summit’s primary focus is the short to medium-term policy direction while giving priority to the national interest in the context of the evolving global economy, says NESG.

It also describes the annual Nigerian Economic Summits as a means for improving and generating better domestic policies via cooperation.

This year, starting today, it is convening national and global leaders in government, business, politics, civil society, and academia through a hybrid summit platform of in-person and virtual dialogues to deliberate on the theme ‘ Reform imperative: Building a prosperous andinclusive Nigeria by 2030.’

The five sub-themes: Driving Industrialisation-Led Growth; Unlocking Investments Amid Global Trade Shifts; Building Infrastructure for Competitiveness; Advancing Inclusion for Shared Growth; and Strengthening Institutions for Sustainable Impact, capture some of the most pressing concerns in Nigeria today, for the country’s survival now and to thrive and be relevant in the future.

These conversations aim to mobilise multisectoral action, influence public policy, and strengthen Nigeria’s capacity to deliver on its development commitments, NESG said on its website.

Niyi Yusuf, chairman of the NESG, underscored the urgency of the theme, describing it as ‘a reflection of where we are as a nation, and a call to action on what must be done if Nigeria is to truly prosper.’

He explained that over the past three decades, the Nigerian Economic Summit has evolved through five defining phases of Nigeria’s economy-from the pre-reform crises of the 1980s and 1990s, to the reform push of the 2000s, the traction of Vision 20:2020, and the volatility of recent years marked by recession and a pandemic.

He added that at every turning point, whether in pensions, agriculture, or energy reforms, the Summit has remained Nigeria’s foremost dialogue platform for shaping national priorities and building consensus between government and the private sector.

On the country’s current reality, Yusuf emphasised the need for a second wave of structural reforms, building on the tough policy choices already undertaken in recent years.

The Summit seeks to:

· Forge consensus on Nigeria’s reform trajectory, balancing stability and inclusion

· Develop sector-specific reform strategies for sustainable growth;

· Galvanise stakeholder input into the National Medium-Term Development Plan (2026-2030);

· Scale subnational reform models for national adoption; and

· Strengthen public-private-development partnerships for reform delivery.

The Nigerian economy

Nigeria’s socio-economic indicators have not been impressive in the last few years. While it appears that the economy has improved, culminating in a 4.23 percent growth in the second quarter of 2025, most of it is elusive.

It is eluding a vast majority of Nigerians and has not been able to reduce poverty or lead to the creation of sufficient jobs.

Despite headline inflation slowing to 20.12 percent in August 2025 and food inflation to 21.87 percent, Nigeria still faces severe and increasing food insecurity, with 31 million people facing acute hunger, according to the World Food Programme.

Also, a November 2024 report by the NBS shows that two out of three Nigerian households are going hungry, with families skipping meals as they cannot afford enough food.

Notwithstanding the above, Nigeria as a country holds a bright prospect. Its ever-vibrant youthful population is seen as a great asset that, if well harnessed, should spur accelerated development.

It is also Africa’s most populous nation with an estimated 230 million people. The population has helped boost consumer spending and consolidated it as a strong consumer market.

The population growth rate at 2.1 percent per year could see it become the third most populous country in the world with 300 million people by 2050.

The people must be fed with staples such as rice, beans, yams, and medicines, among others, providing opportunities for food, pharmaceutical, and other companies.

However, Foreign Direct Investments to keep the population productive have been on the decline. On the bright side, portfolio investors are upbeat.

President Bola Tinubu’s recent reforms, including ending a decades-old petrol subsidy and unifying the exchange rate, which has been sluggish for about a decade, has made dollars available in the economy, exchanging for N1,475.34 per dollar, according to data from the Central Bank of Nigeria (CBN).

What happens after the summit?

After the 27th Nigerian Economic Summit, all the discussions from the Summit are curated into a compendium called – Green Book. The Green Book is presented to the Federal Executive Council for implementation via the Federal Ministry of Finance, Budget and National Planning, according to information on NESG’s website.

According to the organisation, the annual Nigerian Economic Summits have, over the years, contributed to improving domestic economic policymaking. The Nigerian Economic Summit remains a significant forum for sharing information. A substantial proportion of NES recommendations over the years have since become part of government policy, NESG says.

Millions of Nigerians are registering to vote at a pace that surpasses the last electoral cycle, according to data from the Independent National Electoral Commission (INEC).

Although this development has been widely applauded, it is prompting cautious optimism about what it could mean for political participation ahead of the 2027 elections.

Over 4.4 million Nigerians have registered in just four weeks of the ongoing nationwide Continuous Voter Registration (CVR), which is nearly one-third of the total new registrations recorded during the entire lead-up to the 2023 elections.

Out of that number, young people between the ages of 18 and 34 account for about 2.92 million, while students represent a quarter at 1.11 million.

Political experts say if the registration momentum is sustained, the country could deliver the largest voter roll in a single cycle.

Chinedu Obi, a political analyst and director-general of the Inter-Party Advisory Council, believes the surge could be driven by unfavorable conditions due to difficult government policies and the desire for change.

‘I believe that anyone who has been in this country in the last two years with the difficulty we’ve faced would quickly want to get registered to effectively participate in deciding who governs the country, knowing that the action or inaction of any elected government can translate into our prosperity or otherwise,’ he said.

Obi said Nigeria could register well over 30 million more new voters. urging the government and all relevant stakeholders to invest in voter education.

‘I think there’s a need for us to do more voter education, to encourage people to know the need to participate in the election.’

For Innocent Okechukwu, a political observer, the numbers shows a strong early signals of a potentially highly competitive electoral environment. According to him, the surge could point to young and energised electorate, preparing to push harder for change than in 2023. He said it also raises the stakes for INEC to deliver credible polls.

‘Youth-driven movements, like what was seen in the #EndSARS era or the ‘Obidient’ wave in 2023, could re-emerge with greater scale and organisation. For the ruling All Progressives Congress (APC), which faces mounting criticism over economic hardship, the surge poses both opportunities and risks,’ he said.

Armsfree Ajanaku, executive director of the Grassroots Centre for Rights and Civic Orientation, described the trend as a good development.

‘The millions that have turned out is an indication that the Nigerian people still believe that democracy is the preferred vehicle for the realisation of their national aspirations,’ he said.

The youth-led surge brings back memories of the 2023 elections, when young people rallied around the Obidient Movement led by Peter Obi. That wave was driven by anger over poor governance, corruption, and insecurity, especially among urban youth. Even though Obi did not win, his campaign changed the political conversation and showed that Nigeria’s youth could shape national outcomes.

Before that, the #EndSARS protests of 2020, led by young Nigerians against police brutality, had already revealed the power of youth mobilisation. Although the protests were crushed, they created a generation of politically-aware citizens who now seem determined to turn activism into votes.

Regional disparities

INEC data show that regional disparities are emerging in the early phase of the exercise. The South-West is leading in new registrations, while the South-East trails far behind.

Osun State recorded the highest number nationwide with 552,045 registrations, followed by Lagos with 488,523. The least are Ebonyi, Abia, and Enugu, with 4,024, 3,532, and 1,839 registrations, respectively.

According to Okechukwu, the South-East figures raise questions about voter confidence, security concerns, or disillusionment with electoral institutions following the 2023 experience. He cautioned that the low numbers could further marginalise the region politically unless parties and civil groups step up mobilisation.

He added that the early lead in the South-West could consolidate its influence in determining the 2027 outcome.

For Obi, the low figure in the southeast could be a loss of faith in the system. ‘In the last election, many Nigerians believed that the outcome of that election wasn’t exactly consistent with their expectations, particularly in the presidential election, where many felt that the person they voted for didn’t win. You know that the South-East voted massively for a particular candidate in that election. Maybe there could be an apathy for registration, which is a function of those who feel that their votes don’t count,’ he said.

On the figures in the South-West, Ajanaku said local political projections have been driving registration turnout.

‘In Osun State, for instance, there will be an off-cycle governorship poll in 2026. So, it is clear local political actors are driving the registration process, which is a good thing.

‘Other regions lagging behind should also mobilise the people to go register. In all, political actors should engage the process and stop all forms of disinformation targeted at undermining the electoral process,’ he urged.

Nigeria’s Pension Fund Administrators (PFAs) will require N276.8 billion to meet the new minimum capital requirement announced recently by the National Pension Commission (PenCom).

Under the new framework, capital requirements are now tied to the size of Assets Under Management (AUM), meaning the country’s seven largest PFAs – Stanbic IBTC Pensions, Access ARM, Leadway Pensure/Pal, NPF Pensions, Premium Pensions, Trustfund Pensions, and FCMB Pensions – must raise additional capital on AUM exceeding N500 billion.

The firms are expected to inject billions of naira in fresh capital to meet the December 31, 2026 compliance deadline

PenCom, in a circular issued on September 26, 2025, announced a revised minimum capital requirements for Licensed Pension Fund Administrators (LPFA) and Pension Fund Custodians (PFCs)

Under the new framework, PFAs with AUM below N500 billion will require at least N20 billion in capital, while PFAs with AUM of N500 billion and above will require N20 billion, plus one percent of the portion of their AUM above N500 billion.

PenCom said the minimum capital for Special Purpose PFAs are -NPF Pensions Limited, N30 billion; and the Nigerian University Pension Management Company Limited, N20 billion.

Meanwhile, capital requirement for existing PFCs is N25 billion + 0.1 percent of AUC, while the minimum requirement for a new PFC Licence is N25 billion.

Industry data show that Stanbic IBTC Pension Managers, with an asset under management (AUM) of N5.895 trillion and shareholders’ funds of N45.41 billion as of the end of 2024, has one percent of its excess AUM estimated at N53.945 billion. This means the firm needs N73.945 billion in total capital, leaving a shortfall of N28.535 billion to meet the new minimum requirement.

Also, Access ARM Pensions, which managed N3.5 trillion in assets and had shareholders’ funds of N22.781 billion at the end of 2024, has one percent of its excess AUM estimated at N30 billion. It therefore needs N50 billion in total capital, translating to a N28.535 billion shortfall under the new rule.

Following its merger with PAL Pensions, Leadway Pensure now manages N1.811 trillion in assets. Its one percent excess AUM stands at N13.113 billion, bringing the total capital requirement to N25.513 billion in order to meet the new N33.113 billion benchmark.

Other leading PFAs and their estimated additional capital requirements include: NPF Pensions, N22.585 billion; Premium Pensions, N18.724 billion; Trustfund Pensions, N4.920 billion; and FCMB Pensions, N12.002 billion

Rufus Baba, an insurance sector analyst, shared analytical data on the recapitalisation of PFA in his X handle, questioning the rationale behind the increment by the industry regulator.

According to him, it is curious that PFAs with no balance sheet risk need more capital than regional banks, citing Providus Bank, a regional financial institution.

According to him, the guideline simply means that the big PFAs will perpetually raise capital as their AUM grows.

Daddy Jide, another analyst, in his X handle, said the exercise will lead to mergers and acquisitions, noting that the level of capital increment will make the industry less attractive for investors, citing low return on investment.

In the released guidelines signed by A. M. Saleem, director, Surveillance Department, PenCom said the review is to enhance the financial stability, operational resilience, improve service delivery and long-term viability of the PFAs and PFCs.

PenCom said since the last review of the minimum capital requirement for PFA business in April 2021, the pension industry has witnessed significant changes in terms of the geometric growth of the AUM.

‘PFAs are therefore required to maintain adequate capital to sustain the achievements of the Contributory Pension Scheme (CPS) after 21 years of existence, support on-going pension reform initiatives aimed at positioning the Nigerian pension industry to respond to macroeconomic pressures, and deployment of adequate resources to effectively fund operations, improve service delivery and ensure long-term sustainability.’

Nigeria is facing a chronic infrastructure deficit that could erode the gains of the ongoing reforms, slow economic growth, and further strain citizens’ living standards.

Africa’s most populous nation has an infrastructural gap estimated at $100 billion annually and projected to reach $878 billion by 2040, according to a report by credit rating agency AugustoandCo. The size of the gap means budget funding alone won’t cut it.

The country needs a more creative and sustainable means of financing to bridge what the World Bank says it would require investment spending of $3 trillion over the next 30 years to bridge.

Nigeria’s current infrastructure stock constitutes only 30 percent of GDP, far below the World Bank’s benchmark of 70 percent. Similarly, the nation ranks behind 23 other African countries on the African Development Bank’s Africa Infrastructure Development Index (AIDI), underscoring the need to increase investment spending on infrastructure to remain competitive.

Mobilising private capital like the idle pension funds or Sukuk Sharia Compliant instruments could be a game-changer for a country undergoing its boldest strings of reforms since independence.

A Sukuk, an Islamic type of bond specifically used in Nigeria for infrastructure projects, has gained traction in recent times after its first issuance in 2017, worth N100 billion.

While the federal government and state governments like Osun, Katsina, and Gombe have tapped into the instruments for infrastructural financing, the new Investment and Securities Act 2025 now gives local governments explicit authority to issue municipal bonds and Sukuk in what’s expected to drive development at the grassroots levels, according to Akeem Oyewale, chief executive officer of Marble Capital.

‘Nigeria needs humongous infrastructure development over the next couple of years. The benefits of issuing Sukuk are huge if we have all three tiers of government in that space,’ Oyewale said in an interview on Channels recently.

But structural and capacity cum leadership understanding of its issuance could limit success and investors’ appeal, especially at the local government levels, Oyewale said.

The federal government’s allocation of N5.99 trillion (10.8% of the 2025 budget) for infrastructure, though doubled year-on-year, is inadequate compared to the $100 billion annual target set by the Master Plan. Addressing this deficit means increased private-sector investment.

However, private investment in Nigerian infrastructure has been low, totaling $8.4 billion from 2013 to 2023, compared to South Africa’s $17.2 billion, data from AugustoandCo show.

Institutional assets, including pension and insurance funds, now exceed $100 billion. Yet less than 5 percent is invested in infrastructure, compared to 15 percent in South Africa.

Private equity and venture capital flows to Nigeria reached $1.2 billion in 2023; however, a significant portion of this was directed towards infrastructure.

‘A trust deficit drives this underinvestment; policy inconsistency, currency volatility, and weak contract enforcement all weigh heavily,’ Teslim Abass, an infrastructure investment analyst wrote in an opinion piece in June, 2025 on BusinessDay.

Abass cited limited data availability, policy uncertainty, currency volatility, perceived risks as some of the factors holding private capital in infrastructural development.

Private capital mobilisation has worked elsewhere. India’s highway sector attracted $20 billion in private investment between 2018 and 2023, resulting in 50,000 kilometres of new roads. Nigeria has a dynamic private sector and a growing institutional investor base.

Deficits in power, health, transport stall growth

Nigeria, Africa’s top crude producer, is targeting a 7 percent annual growth in the next two years and an economy worth $1trillion by 2030.

But with widespread infrastructural gaps, the ambitious growth plan may be stalled.

The country’s infrastructure challenges are vast. Nigeria’s road network, crucial for trade and mobility, spans around 195,000 kilometres.

Yet over 70 percent of these roads are in poor condition, according to the Federal Ministry of Works.

This gap is driving up transportation costs, delaying deliveries, and limiting access to markets, especially for small businesses and farmers, which further stokes of living crisis for Nigerians, whose spending power has been eroded.

Despite being the cheapest means of transportation and capable of moving freight and passengers across longer distances more efficiently, rail transport constituted less than 1 percent of the transportation industry’s contribution to Nigeria’s gross domestic product (GDP) in 2023, which further intensifies the load on roadways.

Power generation remains a bottleneck. Installed capacity stands at 12,500 megawatts (MW), but average output is just 4,000 MW due to transmission losses and gas supply issues. This leaves Nigeria’s per capita electricity consumption at just 144 kilowatt/hour (kWh) annually, far below the global average of 3,131 kWh, according to the World Bank.

Limited power generation means businesses spend an estimated $29 billion yearly on backup energy sources like diesel generators, data from the International Finance Corporation revealed.

‘This considerable deficit hampers economic growth, sustainable development, and poverty alleviation,’ AugustoandCo wrote in a recent report.

Dideolu Falobi, managing director of Kresta Laurel, a Lagos- based electro-mechanical company argued that investors are willing to pour in billions in capital for infrastructure if the country’s justice system is overhauled to guarantee investors security.

‘One of the biggest challenges we have with infrastructure funding is our legal system. A legal system that doesn’t guarantee justice on time discourages investors,’ Falobi said.

‘Nigeria has a very good Return on Investment. People will bring in funds when there’s a system that makes people feel secure.’

The Federal Ministry for Economic Cooperation and Development (BMZ) of the German Government, in collaboration with World Food Programme (WFP) and Care Nigeria is set to empower a total of 6,389 households in Yobe State.

Abatcha Abubakar, the Area Manager, Care Nigeria, stated this to newsmen at state level stakeholders inception meeting on resilience and social cohesion (peace) held in Damaturu, Yobe State.

According to him, the Resilience and Social Cohesion (Peace) Project is a joint initiative that seeks to restore essential services and rebuild livelihood to drive sustainable transformation in the state.

He said the households would be trained and empowered with agric inputs, crops processing machines and stipends to improve their livelihood.

He added that the program was funded by the Federal Ministry for Economic Cooperation and Development (BMZ) of the German Government, in partnership with World Food Programme (WFP), UNICEF and Care Nigeria.

He further said the project goals were to increase the productivity and revenue of 6,389 smallholder farmers and households in the agric value chain and improve the economic status of 31,945 individuals.

According to him, the project is targeting 5 wards in Jakusko LGAs to ensure that those households improved their dietary diversification and access to financial services through Village Savings and Loan Association (VSLAs).

‘We implement crop production initiatives where project participants are grouped together and provided with inputs to build their resilience and self-sufficiency. Additionally, we have an Income Generating Activity (IGA) aimed at improving household finances. Through IGAs, we form groups and equip them with agro-processing machines, enabling them to generate income beyond farming.

‘Furthermore, these groups are organized into Village Savings and Loan Associations (VSLAs), a tool we use globally. VSLAs empower women to save and contribute to a collective fund, providing mutual support.

‘The initiative aims to support 6,389 households through agricultural interventions. We’ll provide seeds for crops like maize, groundnuts, and rice, focusing on wet season farming. Additionally, we’ll promote vegetable gardening, encouraging participants to cultivate backyard gardens.

‘This effort seeks to improve livelihoods and prevent households from falling into food insecurity. Furthermore, selected households will receive a monthly stipend for six months. We’re also constructing warehouses to support these initiatives.’ He said.

In his remark, Owen Maganga, the Head of World Food Programme, Damaturu Sub Office, Yobe State, said the WFP is committed to support the Livelihoods of farmers in the Northeastern region.

President Bola Tinubu is expected to return to Abuja, the nation’s capital, today after a ten-day working visit to Lagos State.

Bayo Onanuga, Special Adviser to the President on Information and Strategy, in a statement, on Monday, said the President had arrived in Lagos on Friday, September 26, after attending the coronation of His Imperial Majesty, the Olubadan of Ibadanland, Oba Rashidi Adewolu Ladoja, in Ibadan.

‘While in the nation’s commercial capital, President Tinubu engaged with key investors, including Bayo Ogunlesi, Chief Executive Officer of Global Infrastructure Partners, and Keem Belo-Osagie, former Chairman of United Bank for Africa and Etisalat, and now Chairman of Metis Capital Partners.’

The President also received Arsenio Dominguez, Secretary-General of the International Maritime Organisation (IMO), in the company of the Minister of Marine and Blue Economy, Adegboyega Oyetola and other heads of agencies in the sector.

The President reaffirmed his administration’s commitment to developing Nigeria’s maritime industry as a viable alternative to fossil energy, during the meeting.

On the eve of Nigeria’s 65th anniversary of independence, President Tinubu visited Imo State to commission projects undertaken by Governor Hope Uzodimma.

The President also unveiled a book authored by the governor, chronicling 10 years of the APC governance in Nigeria.

He delivered the national broadcast from the State House, Dodan Barracks, on Independence Day, and later commissioned the renovated National Theatre – now renamed the Wole Soyinka Centre for Culture and the Creative Arts – where he called on Nigerians to speak positively about their country.

On Saturday, October 4, President Tinubu visited Jos, Plateau State, to attend the burial of Mama Lydia Yilwatda, the mother of Nantawe Yilwatda, the national chairman of the All Progressives Congress APC.

At the funeral, the President paid tribute to Mama Yilwatda and assured Christian communities in Northern Nigeria of his administration’s unwavering commitment to fairness and equity among all religious groups in the country.

The Federal Government has announced sweeping reforms to modernise agricultural education as part of efforts to strengthen food security and create employment opportunities for young Nigerians.

This is contained in a statement on Sunday in Abuja by the Director of Press and Public Relations at the Federal Ministry of Education, Folasade Boriowo.

Boriowo said the initiative, jointly driven by the Federal Ministries of Education and Agriculture and Food Security, aimed to update agricultural curricula and attract greater youth participation.

She quoted the Minister of Education, Tunji Alausa, during the official presentation of the new Agricultural Curriculum Framework reform, as saying that the reform was a pivotal step toward repositioning agriculture as a pillar of national development.

Alausa explained that the initiative aligned academic training with President Bola Tinubu’s vision for a technology-driven agricultural sector.

He expressed concern over the declining enrollment in agricultural programmes across tertiary institutions in spite of significant government investment in the sector.

‘Statistics from the 2024 Unified Tertiary Matriculation Examination (UTME) revealed that 47.92 per cent of admission slots allocated to agricultural courses remain unfilled.

‘Agriculture is a major national priority, but enrollment in agricultural courses in higher institutions is dropping.

‘In the last three years, there have been thousands of open slots, but only a fraction has been taken.

‘This is a serious gap, especially in an area that should ensure food security for Nigeria and make the country an export hub for agricultural products,’ he said.

However, Alausa noted that vocational and technical agricultural training had seen increased interest among young Nigerians.

‘Out of more than 900,000 Technical and Vocational Education and Training (TVET) applications recently received, more than 210,000 were for livestock farming alone.

‘Agriculture overall ranked close to garment making, which recorded more than 260,000 applicants.

‘This shows that young Nigerians are eager to gain practical agricultural skills, but the outdated tertiary curriculum has not kept pace with modern realities,’ he added.

The minister reaffirmed the government’s commitment to updating the curriculum to meet industry needs and support economic diversification.

He cited the Republic of Benin’s cotton processing success as a model for Nigeria’s efforts to link education with industrial value chains.

‘Benin moved from earning 500 million dollars in raw cotton exports to 12 billion dollars in processed products, employing more than 25,000 young people.

‘Nigeria will replicate this success through curriculum reform and practical agricultural education that supports our production zones and export diversification goals,’ Alausa said.

Also speaking, the Minister of State for Agriculture and Food Security, Sen. Aliyu Abdullahi, emphasised that achieving food sovereignty required a comprehensive review of agricultural education.

‘As Nigeria seeks to diversify, we need more people engaged in agricultural enterprise. Food security cannot be achieved without aligning our education and training systems with national priorities. ‘Our curriculum must equip graduates not just with theoretical knowledge but with practical skills and innovation to drive agricultural transformation,’ Abdullahi said.

Education is the cornerstone of every nation’s development, serving as a powerful tool for economic growth, social stability, and innovation.

In Nigeria, strengthening the education sector is vital for long-term, sustainable progress. The fundamentally broken Nigeria’s education, would not heal on its own except some urgent and drastic actions are taken.

Experts believe that as the country faces evolving economic, social, and technological challenges, empowering educational institutions, educators, and learners has become more urgent than ever.

According to the Nigerian Economic Summit Group (NESG) report, ‘Nigeria’s unemployment rate stood at 5.3 percent in the first quarter of 2024, representing a third consecutive increase since the second quarter of 2023.

However, the underemployment rate fell from 12.3 percent in 2023 third quarter in 10.6 percent in 2024 quarter one.’

Hence, they argue that by investing in quality teaching, infrastructure, innovation, and inclusive policies, Nigeria can build a resilient education system that not only addresses today’s needs but also prepares citizens for the global workplace.

Jessica Osuere, chief executive officer at RubiesHub Educational Services believes Nigeria needs competence-based education system to upskill students for future-work ready.

‘Our education has been highly theoretical even in the sciences and technology, that’s why you see someone studying engineering that cannot couple engines.

‘Empowering the youngsters with practical skills will lead to innovations, creation of more jobs and eradicate poverty in the country,’ she said.

No society would discount the importance of education and investing in their future, but, in Nigeria, the teaching workforce is under pressure like never before: comparatively low pay, insufficient teaching resources, and increased class sizes, among others.

Many teachers besides, poor remuneration and lack of teaching resources, are faced with persistent issues of salaries delay.

Nubi Achebo, director of academic planning at the Nigerian University of Technology and Management (NUTM), said delaying teachers’ salaries has negative impact on learning outcomes.

Achebo reiterated that when teachers are not paid on time, it affects their motivation, attendance, and overall teaching quality such as poor lesson preparation, students’ poor performance, poor classroom attendance and lack of practical learning, among others.

‘Teachers may not be motivated to prepare well-structured lessons, leading to a decline in teaching quality. Besides, irregular salary payments can result in students performing poorly in exams due to inadequate teaching and lack of resources.

‘Delayed salaries might limit the implementation of practical learning experiences, such as study tours, which are essential for students’ development; and teachers may not attend classes regularly, disrupting the learning environment and impacting students’ academic progress,’ he said.

To ensure long-term, sustainable impact, there is a need to reinforce the foundations of Nigeria’s education system.

This involves not just investment in infrastructure, but also reforms in policy, curriculum, teacher training, and governance. Strengthening these institutions is not merely a national priority, it is a generational necessity.

Busayo Aderounmu, a senior lecturer at Covenant University, Ota, Ogun State, expressed concerns that Nigeria’s education institutions, especially public ones, lack adequate facilities and funding.

‘There should be more funding for research and the provision of critical infrastructural facilities and equipment. Educators should also be receiving training from time to time to make them on par with their counterparts across the globe, and their welfare should be prioritised.

‘The world has gone beyond theories taught in the classroom, so curriculum needs to be improved to accommodate the practical aspect of the subject taught,’ she said.

Victor Odumuyiwa, senior lecturer at the Department of Computer Sciences, University of Lagos (UNILAG), Akoka, emphasised that Nigeria need capacity building in tech skill for the youth to compete at the global level.

‘The most important thing is capacity building; the opportunities are huge. The government should put in place initiatives to support people that want to learn.

‘The government funds create the platform for upskilling of its citizens by looking out for competent organisation to anchor the training, and give opportunity to people to be upskilled,’ he said.

Kingsley Moghalu, president of the Institute for Governance and Economic Transformation asserted that Nigeria’s education system must be tailored to drive human capital development in order to be globally competitive.

‘Nigeria is urgently in need of educational policy that can enhance its human capital, make it globally competitive, and bolster its standing within the global community.

‘This kind of education must prioritise access and quality by emphasising literacy, skills and national values. Our country has suffered a massive, progressive collapse of values over the past several decades,’ he said.

Moghalu emphasised that Nigeria must put skill development right at its centre. ‘Education must go beyond rote memorisation of facts to helping learners acquire various forms of skills that make them form a formidable human capital for the nation,’ he noted.

Red Star Express Plc is not a new entity. As the sole licensee of FedEx Corp. in Nigeria, Red Star Express Plc remains the flagship, in the pick-up and delivery of express documents and parcels within the domestic and international market.

From when it began operation in October, 1992 to its listing in November 2007, the company has remained confident about its future.

Red Star Express re-echoed this optimism recently by assuring its shareholders at the company’s 32nd Annual General Meeting (AGM) that its operational agility and strategic direction will enable it to stay ahead of the curve and deliver long-term value to all stakeholders.

With a vision to be the company of first choice in the logistics service industry in Nigeria, Red Star Express Plc has 166 offices within Nigeria; deliveries to over 1,500 communities; and employs over 1,900 highly trained professional staff with over 700 vehicle fleet, according to its latest financial report and accounts.

‘We remain optimistic about the future. Red Star Express is entering a new phase of transformation anchored on innovation and technology. We are currently in the launch and testing phase of our proprietary e-logistics platform, a solution designed to revolutionise the logistics landscape in Nigeria,’ said Auwalu Badamasi Babura, Group Managing Director/CEO, Red Star Express Plc at the annual general meeting.

‘This platform represents a new way of thinking about logistics that prioritises speed, visibility, customer convenience, and operational intelligence. As we deepen our logistics infrastructure and expand our service offerings, we remain committed to sustainable growth and long-term value creation. Through this innovation and the strength of our people, Red Star Express is positioning itself as a technology driven logistics partner for the future,’ Babura said.

Also speaking, Suleiman Barau, chairman, Red Star Express Plc said at the 32nd Annual General Meeting of the company that ‘Despite the economic challenges, Red Star Express Plc delivered a strong financial performance’.

Impressive scorecard, improved reward for shareholders.

The company’s total group revenue rose by 34 percent to N21.60 billion in 2025, up from N16.27 billion in 2024.

‘This performance was driven by growth across our express delivery, haulage and freight, and support services, as well as continued operational discipline,’ Barau said.

Profit Before Tax (PBT) increased by 71 percent from N542.15 million in 2024 to N924.72 million in 2025. Similarly, Profit After Tax (PAT) rose by 59 percent to N546.5 million, compared to N343 million the previous year.

‘This growth reflects improved cost management, business development efforts, and increased customer confidence in our capabilities,’ the chairman told shareholders at the meeting.

As part of the company’s continued commitment to rewarding shareholder confidence, the Board recommend and got shareholders approval for payment of a dividend of 35 kobo per share (2024: 27 kobo). The dividend was paid electronically on September 18 to shareholders whose names appeared on the Register of Members as of August 26. The share price which has steadied at N11 recently nears its 52-week high of N14.35 as against a 52-week low of N4.05. The company has 954,423,326 shares outstanding on the NGX.

Babura said that the logistics and transport industry recorded improved performance during the year under review.

According to the National Bureau of Statistics (NBS), the Transport and Storage sector grew by 6.53 percent in real terms year-on-year in 2024, marking a strong rebound from the sharp contraction of negative 30.17 percent recorded in 2023. All six sub-sectors, including post and courier services, experienced positive growth during the year. The sector contributed 1.03 percent to real GDP in 2024, slightly higher than the 1 percent contribution in 2023.

‘This recovery reflects a gradual stabilisation in the economy and increased demand for intra-city logistics, express delivery, and e-commerce-driven logistics services,’ Babura said.

‘Despite the broader economic challenges, Red Star Express Plc delivered a strong financial performance,’ he added.

Babura noted that the Group made key strategic and operational improvements during the financial year in review.

‘We expanded our warehousing services with the addition of the warehouse facility at the Murtala Muhammed International Airport, Lagos, enhancing our capacity to support time-sensitive cargo and high-volume shipments.

‘We also made meaningful progress in technology adoption, introducing system upgrades that improved logistics visibility, automated key processes, and enhanced service reliability.

‘A review of our pricing model allowed us to remain competitive while better aligning with operational realities. In addition, stronger cost management practices helped us drive efficiency across our subsidiaries and improve margins,’ Babura said.

Red Star Express Plc was incorporated as a Private Limited Company on July 10, 1992 under the name, Red Star Express Nigeria Limited and commenced business operations on October 12, 1992. The Company was subsequently converted to a Public Company in July 2007 and had its shares listed on the Nigerian Exchange Limited on November 14, 2007.

The Company has three wholly owned subsidiaries; Red Star Logistics Limited, Red Star Freight Limited and Red Star Support Services Limited. The Group is principally engaged in the provision of courier services, mail management services, freight services, logistics, ware housing and general haulage.

Future outlook..

Looking ahead, Red Star Express Plc remains focused on leveraging technology to strengthen transparency and accountability, optimise delivery speed, and improve the customer experience.

‘Our ongoing investments in digital platforms, regional network expansion, and new delivery models are all designed to support long-term growth,’ Barau said.

‘We will also continue to build capacity across our workforce, by developing and encouraging a culture of accountability, innovation, and excellence,’ he further said.

Also speaking, Babura said, ‘Our focus in the coming year will remain on deepening investment in technology, expanding our service portfolio, and strengthening Red Star Express’s presence in both domestic and regional markets. These priorities are designed to sustain long-term growth and position Red Star Express as a trusted logistics partner across Nigeria and West Africa’.