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The Taraba State Government has received a total sum of $268.63 million (over ?400 billion) investment from the ECOWAS Bank to boost agriculture, energy and industrial development.

The funding, which is secured through the State’s Ministry of Energy and Economic Development, will be channeled into four major projects, a 10,000-hectare rice farm equipped with an integrated irrigation system, a state-of-the-art 16 tonne capacity rice mill, a new industrial park with agro-processing and logistics clusters, and a 50 megawatt solar power plant to enhance the state’s renewable energy capacity.

Naomi Tanko Agbu, Commissioner for Energy and Economic Development, while speaking on the development, described the investment as the culmination of months of strategic planning and stakeholder engagement.

She noted that the projects are aligned with Agbu Kefas, Taraba State governor’s development agenda, which prioritises security, infrastructure, industrial growth and investment attraction.

‘These projects represent a bold step forward for Taraba,’ Engr. Tanko stated. ‘They reflect the vision of Governor Kefas to reverse years of underdevelopment through high-impact, practical initiatives.

Tanko further praised the collaborative efforts that led to the investment deal, acknowledging the commitment of Governor Agbu Kefas, Ministry officials, consultants and partners who played key roles in the process.

She urged citizens to stay engaged and supportive as implementation began, emphasising a shared responsibility in building the State’s future. ‘Our guiding principle is togetherness. Let’s build Taraba together under the leadership of His Excellency, Dr. Agbu Kefas,’ she said.

The projects are expected to generate significant employment opportunities, stimulate local economies, and position Taraba as a leading hub for agriculture and renewable energy in both Nigeria and the wider West African region.

The naira closed the four-day trading week with N14.98 gain in the official foreign exchange (FX) market following sustained liquidity.

After trading on Friday, the naira appreciated by 1.02 percent week-on-week as the dollar was quoted at N1,465.67 compared to N1,480.65 quoted last week Friday at NFEM according to data from the CBN.

The CBN data showed that the naira witnessed a 0.7 percent or N10.67 for the four-day trading week to N1,465.67 on Friday from N1,476.34 closed on Monday at NFEM.

On a day-on-day trading account, the naira depreciated by 0.7 percent to N1,465.67 on Friday, down by N10.44 compared to N1,455.23 traded on Thursday at the NFEM, CBN data indicated.

The local currency strengthened by N35 or 2.4 percent week-on-week to close at N1,460 per dollar on Friday up from N1,495/$1 on Friday last week in the parallel market also known as the black market.

Daily, the naira weakened by N5 on Friday to N1,460 as against N1,455 closed on Thursday in the black market.

Nigeria’s external reserves rose 2.2 percent month-on-month to $42.35 as of September 30, 2025, up from $41.42 recorded at the beginning of the month, data from the CBN indicated.

Olayemi Cardoso, governor of the CBN has said that recent reforms in the foreign exchange market have helped restore investor confidence and boost the country’s external reserves, which now stand at over $42 billion.

Speaking at the maiden edition of the CBN’s lecture series at the Lagos Business School (LBS), Cardoso said ‘on foreign exchange, we introduced a willing buyer, willing seller framework and unified the multiple exchange rate windows. We also cleared the backlog of verifiable foreign exchange commitments, which has helped restore market confidence.’

He added that the Bank has taken deliberate steps to attract diaspora inflows and investment, ‘we created new channels to facilitate diaspora remittances and encourage investment, most notably through the Non-Resident Nigerian (NRN) platform, which enables Nigerians abroad to open bank accounts seamlessly from anywhere in the world.’

Cardoso emphasised that these reforms are part of a broader strategy to strengthen the economy and ensure long-term stability in the financial markets.

Yemi Kale, Group chief economist and managing director of Afreximbank, said the introduction of a more flexible exchange rate regime acts as a natural shock absorber, allowing the currency to adjust gradually to fluctuations in oil prices or global economic conditions, rather than triggering sudden crises in the balance of payments.

Five women entrepreneurs have been shortlisted for the final stage of the ?20 million Unicorn Project, an initiative by communications agency SoMe Solutions in collaboration with Premier Business Network (PBN).

The competition, launched earlier this year, is aimed at supporting women-led businesses in Nigeria with funding, mentorship, and visibility opportunities. From more than 120 applications received nationwide, the selected finalists represent a range of sectors, including food, fashion, wellness, and agriculture.

The five entrepreneurs are:

Nancy Amaku – Chef Nahnah Foods and Confectionaries Ltd; Aderoju Dasola Elizabeth – Eliz-Bags and Accessories;

Opeyemi Adebisi – Pemnia Wellness;

Kieva Chris-Amusan – Fertitude;

Abejide Oluwatosin Mercy – House of Rheevo Limited

According to the organisers, the finalists were chosen following interviews and assessments of an initial shortlist of 20 entrepreneurs. Those who made the Top 20 have also been admitted into the Unicorn Community, which provides ongoing mentorship, networking, and business support.

Elizabeth Osho, founder of SoMe Solutions, said the project seeks to highlight the resilience and creativity of women in business. ‘It isn’t just about money, it’s about turning potential into lasting impact,’ she noted.

The judging panel includes industry figures such as Peter Gbologe (PBN), Morenike Molehin (Oak and Teak), Ifedayo Durosinmi-Etti (Herconomy), Ayisat Agbaje-Okunade (Lateef Jakande Leadership Academy), Emem Ime Okwoche (EMEM Fashion), and Adebolu Ezipke (SoMe Solutions).

In the coming weeks, the finalists will take part in a public engagement phase, where their stories will be shared online for feedback and voting. The results will contribute to the judges’ final decision.

The winner, to be announced later this year, will receive ?500,000 in cash and a ?20 million brand and PR support package.

The project is supported by several sponsors, including Complete Sports Nigeria, PoshClick, JustBrandIt, GetUp Inc., and Brand Communicator.

For more than 15 years, Bunmi Bashiru has worked in the global energy industry. As a Project Engineer at Schneider Electric, she leads efforts that promote sustainability in industries. Her work reflects her belief that the future of energy must balance human needs and environmental responsibility.

Bashiru was born to a father who worked as an HVAC technician without formal education and a mother who sold food by the roadside. Despite limited resources, she pursued her goal of becoming an engineer. In a class of more than 100 students, with only 20 women, she graduated in the top 10 percent. This set the stage for a career that has included downstream oil and gas distribution, upstream production, and now sustainability.

Her move into the sustainable energy sector coincided with global discussions about energy production and environmental concerns. Motivated by curiosity and a desire to address energy challenges, she began focusing on producing energy that serves markets without harming the environment.

Her career was shaped by personal loss when she lost her father while completing her Master’s degree. The event caused significant disruption during her project presentation week, but she continued her studies to honour his memory.

Bashiru has contributed to organisational change through her leadership. One career highlight came when she led a cross-functional team during a three-day sprint to secure the OML 102 bid. Her coordination and planning helped her company move from oil servicing to oil production, altering its business trajectory.

Her colleagues note that she creates an environment where team members feel valued. She has often explained that leadership, for her, is about combining individual strengths to reach collective goals.

Bashiru also explores technology and its potential role in energy. She believes artificial intelligence will influence sustainable growth and looks for ways to apply it to energy solutions.

One of her goals is to design an offshore drilling method that extracts fossil fuels without damaging marine ecosystems. She has described this as part of addressing the global challenge of meeting energy demand, protecting the environment, and sustaining economic development.

Beyond her professional work, Bashiru runs a foundation that provides tuition support for children of widows and single mothers. Through this initiative, she aims to make education more accessible, recognising that opportunity, rather than ability, is often the barrier to success.

She has been recognised by peers and mentors in the industry. One of the compliments she values most is that she creates spaces where people feel heard.

Looking ahead, Bashiru sees herself in a director-level role within the next five years, shaping sustainability strategies that influence industries worldwide. She has said that her long-term goal is to fulfil her talents and opportunities fully, leaving nothing unused.

Global markets navigated the risks of a US government shutdown this week, while in Nigeria, the Central Bank of Nigeria (CBN) announced a significant phased reform to take direct control of the settlement and trading platforms fixed income and FX products starting in November 2025, a move aimed at enhancing transparency and oversight.

US Government Shutdown

The U.S. entered its first shutdown in six years due to a budget standoff, primarily over healthcare funding (Obamacare subsidies).

From an economic perspective, a prolonged shutdown poses significant risks.

‘ It could erode consumer confidence, drag on the US’ near-term growth, and raise questions around the country’s fiscal credibility. More concerns also loom on the labor market, as temporary discharges from work could turn into lasting job cuts, extending the damage beyond the immediate disruption,’ analysts at Meristem said.

While equity markets have been calm so far, the market wrapped up the week on a positive note as the SandP500 advanced to 6,748.81pts, ‘banking on a swift resolution, an extended dispute could spark volatility across healthcare, defense, and tourism sectors, most exposed to federal spending.’

Ghana’s inflation fell to a single digit of 9.4%, its lowest in four years

Ghana’s Consumer Price Index (CPI) eased to 9.40 percent in September 2025, down from 11.50 percent in August. This is the ninth consecutive month of disinflation, indicating a steady improvement in price stability, despite inflation still being slightly above the Bank of Ghana’s 8.00 percent medium-term target range.

The moderation was largely driven by a sharp slowdown in food inflation, which eased to 11.0 percent from 14.80 percent in the prior month, alongside a deceleration in non-food inflation to 8.20 percent from 8.70 percent.

CBN takes control of fixed income trading

In Nigeria, the Central Bank of Nigeria (CBN) announced its phased reform of the Nigerian Fixed Income Market, a move aimed at deepening transparency, boosting efficiency, and reinforcing regulatory oversight.

The restructuring, set to begin in November 2025, will see the Apex bank take direct control of both the settlement process and the trading platform for fixed-income transactions and foreign exchange (FX) products.

The rollout is set to be gradual to avoid market disruptions, beginning with a User Acceptance Testing (UAT) in October 2025, followed by a pilot phase that runs in parallel with the existing system. The full migration of settlement processes is slated for November 3rd, while a CBN-managed trading platform for key market participants will go live by 1st of December.

NNPC to supply 82mb of crude oil to Dangote

The NNPC Ltd. signed a two-year crude supply agreement with the Dangote Refinery for its 650,000 bpd facility. A total of 82 million barrels will be supplied by October 2025, with 60 percent settled in naira.

This Naira-denominated deal is expected to ease pressure on foreign reserves and support the local currency. Ultimately, the steady domestic supply aims to enhance energy security, help moderate pump prices, and dampen imported inflation.

PenCom Overhauls Capital Rules for PFAs and PFCs

The National Pension Commission (PenCom) has revised capital requirements for PFAs and PFCs, linking them directly to the size of Assets Under Management (AUM). This action, which mandates new capital levels (e.g., NGN20 billion for most PFAs), aims to strengthen systemic stability, mitigate risks, and drive consolidation in the pension industry by the compliance deadline of December 31, 2026.

Local Market

NGX on course to 40% ytd performance

The Nigerian equities market stayed positive for the fourth consecutive week, as the NGX-ASI rose by 1.02 percent week-on-week to close at 143,584.04pts, bringing the year-to-date gains to 39.50 percent.

This was driven by oilandgas sector of the bourse, which saw a 5.68 percent increase this week. Some of the companies that drove the market this week are Aradel and Eternal Oil. Followed closely was the bank index, which gained 1.17 percent due to strong demand for Fidelity and Sterling.

Bullish week for fixed-income

The fixed income market was bullish throughout the week, driven by improved liquidity following a CRR adjustment. Average yields across Treasury bills eased from 17.84 percent to 17.76 percent, while FGN bonds moderated from 16.38 percent to 16.33 percent. Demand was concentrated in long-dated bills and mid-tenor bonds as investors sought to lock in higher rates, despite some profit-taking in the short-dated papers.

Liquidity will be further supported by N8.58 trillion in upcoming maturities for the fourth quarter of 2024.

The Eurobond market was also stable, with the average price edging up to $99.81. Modest gains were seen across mid- and long-curve instruments, reflecting positive domestic macroeconomic sentiment, which resulted in a 9 basis point reduction in the average Eurobond yield to USD7.76 percent

Garba Shehu, former spokesman to late former President Muhammadu Buhari, has dismissed claims by former President Goodluck Jonathan, that Buhari was nominated as mediator by the insurgent group, Boko Haram.

Shehu, who responded on his official X handle, advised Jonathan to look for another story to tell Nigerians if he wants to be ‘President in 2027’.

Shehu declared that the late President himself had denied a similar story in 2014 that he was nominated to meditate between the terrorist group and the federal government.

Recall that former President Jonathan had at the launch of the book written by Lucky Irabor, a former Chief of Defence Staff, said the dreaded Islamic terrorists once nominated the late President as their mediator.

‘We are compelled to make a response to a terrible statement made on the late President Muhammadu Buhari by his predecessor in office, President Goodluck Ebele Jonathan, to the effect that Boko Haram had nominated him to represent them in a dialogue with government.

‘If this is a campaign statement towards his bid for the presidency in 2027, we want to say to him that ‘Mr. Jonathan, you are making a false start.’

Shehu said, ‘Muhammed Yusuf or Abubakar Shekau, the deceased leaders of the Boko Haram terrorist group, never nominated Muhammadu Buhari for any such role. In fact, Shekau routinely denounced and threatened Buhari, and their ideologies were in direct opposition.’

He also recalled that in 2014, Muhammadu Buhari escaped a bomb attack on his life by Boko Haram in Kaduna, in which his personal staff suffered various degrees of injury.

According to him, ‘Buhari’s campaigns focused on fighting Boko Haram and restoring security to Nigeria whenever he became president, putting him in direct opposition to the terrorist group’s leader.’

Shehu noted that ‘contrary to the news making the rounds in those years that the radical Islamist extremist -Boko Haram had nominated General Muhammadu Buhari as the mediator between them and the Federal Government of Nigeria in the proposed peace talk, the retired Military General denied knowledge of his nomination.’

Shehu recalled a statement issued by the then National Secretary of the Congress for Progressive Change (CPC), Buba Galadima, where he stated that ‘Buhari, the national leader of the CPC said he was not aware of the appointment: ‘As at 10pm yesterday (Thursday) when I spoke with him, he said he has not even heard about it,’ Galadima said.

‘Continuing, the party secretary told reporters that ‘he (Buhari) said the whole thing to him, is just speculation. And since nobody has contacted him as a person for him to even know who is behind what, and what the motives of the whole exercise are, he would not speak to the press.’

‘He revealed that Buhari, the 2011 presidential candidate of the CPC, further told him that as an elder statesman and a patriotic Nigerian, he will continue to pray until peace and tranquillity return to Nigeria.’

‘What led to the misleading information was that a faction of the terrorist group, possibly sponsored by Buhari’s opponents, staged a press conference in Maiduguri, Borno State, through a certain Abu Mohammed Ibn Abdulaziz, who claimed to be the Boko Haram commander in charge of Southern and Northern Borno, saying that the sect would prefer the former military leader, General Muhammadu Buhari, ex-Yobe State governor and the then Senator, now late Bukar Abba Ibrahim, first Nigerian Minister of Petroleum, Shettima Ali Monguno, also late, Chairman of the Presidential Committee on Insecurity in the North-East, Ambassador Gaji Gatimari, and other prominent members of the Borno Emirate to mediate between them and the federal government.

‘Abdulaziz was roundly condemned by the leaders of Boko Haram who claimed that he had ‘no mandate of their leader, Imam Abubakar Shekau.’

‘Speaking on to the issue, the then CPC national publicity secretary, Mr. Rotimi Fashekun, now late, lambasted President Goodluck Jonathan and the ruling Peoples Democratic Party (PDP) for latching on Buhari’s alleged nomination for political reasons.

Fashekun described Buhari’s purported nomination as ‘the latest gambit in the desire of this organically corrupt PDP-led Federal Government in diverting the attention of the unsuspecting Nigerian public from the on-going massive looting of their common patrimony.’

The global beauty industry is worth nearly $600 billion. From Seoul’s glass-skin trend to Paris haute couture, entire markets rise and fall on how beauty is packaged and sold. But there is one glaring gap in this glossy ecosystem: Black hair.

For decades, Afro-textured hair has been treated as an afterthought, either shoehorned into products never designed for it or exoticised in fleeting fashion moments. Despite Black women being among the industry’s most loyal and highest-spending consumers, the innovation pipeline has rarely flowed their way.

Enter Olivia Emeodi, founder of Captive Hair. From Lagos, she is building what many in beauty have long overlooked: a scalable, innovation-driven brand that takes Black hair seriously as a site of identity, creativity, and global influence.

While most protective styles remain heavy, painful, or damaging, Emeodi has pioneered more than ten faux loc styles and fifteen techniques designed specifically for Afro hair. Her approach? Make beauty painless, wearable, and culturally resonant.

‘Black women have been told to shrink themselves into hairstyles that don’t belong to us,’ Emeodi says. ‘We deserve solutions built with us in mind, not adaptations of someone else’s blueprint.’

Captive Hair isn’t just a salon concept. It’s a platform. Through Captive Hair Magazine, Emeodi is curating narratives of Afro beauty with the same seriousness Western glossies reserve for Paris or Milan. Through her techniques, she’s proving that what starts in Lagos can shape global beauty norms.

Her work is also business-savvy: by addressing pain points Black women face daily, she is positioning Captive Hair as a scalable African brand that speaks to a $1.2 trillion global Black beauty market.

Emeodi’s story is not just about hair. It’s about correcting a structural imbalance in who gets to define beauty worldwide. Korean beauty went global because it was framed as innovation, not niche. Emeodi argues African beauty deserves the same stage.

‘If the world can learn to layer ten-step routines from Seoul, it can learn to value the ingenuity of African hair culture,’ she says. ‘The future of beauty cannot be complete without us.’

By treating Afro hair as both an art form and a business opportunity, Emeodi is positioning herself as a thought leader and Captive Hair as a global disruptor. For too long, Black women’s hair has been a site of compromise; with Captive Hair, it is becoming a site of pride, innovation, and possibility.

The beauty industry may not have been ready for this conversation. But Olivia Emeodi is ensuring it can no longer look away.

Nigeria is hard already. And let’s be sincere, the ever-rising cost of data is making it even harder. We live in a time when the Internet has become even more popular than it ever was, and we must always stay informed about global happenings.

According to the Global Broadband Pricing League Table 2024 compiled by Cable.co.uk, Nigeria ranked 51st globally for Africa with an average monthly broadband cost of $21.89.

Despite this, we can run out of data as a result of too many data-draining apps running at once.

You load 5GB today, and before you know it, everything is gone. But the good news is that there are simple hacks to stretch your data and make it last longer.

You don’t need to stop enjoying your phone; you just need to use it smarter. Here are five hacks that can help you save data.

Turn Off Auto-Play for Videos

Social media apps like Instagram, Facebook, TikTok, and even Twitter automatically play videos as you scroll through them. This eats up data quickly without you realising it. Go to the settings of each app and switch off auto-play or set it to ‘Wi-Fi only.’

That way, videos won’t load unless you choose to watch them. This small change can save hundreds of megabytes every day, especially if you spend a lot of time online. You control what you watch, not the app.

Use Data Saver Mode

Both Android and iPhone have built-in data saver options. When enabled, this setting automatically reduces data usage by blocking heavy background processes and lowering the image or video quality.

For example, Google Chrome has a ‘Lite Mode’ that compresses web pages before loading. It may sound small, but every MB saved counts. Activate data saver mode whenever you are browsing or streaming on mobile data.

Download Instead of Streaming

Streaming music, movies, or even lectures eats data quickly. A smart hack is to download when you have Wi-Fi, then watch or listen offline later. Most platforms, such as YouTube, Spotify, and Netflix, allow offline downloads.

The same applies to documents, e-books, or podcasts. Additionally, it prevents the repeated streaming of the same content, as you now have it downloaded and saved on your phone.

Monitor Your Data Usage Regularly

One reason people run out of data quickly is that they don’t track where it goes. Both Android and iPhone have features that show which apps consume the most data. Check weekly and identify the culprits.

You may be surprised that a single app, such as Instagram or YouTube, is consuming half your data bundle. Once you know, you can set limits, reduce usage, or switch to Wi-Fi for heavy browsing.

Disable Background App Data

Many apps run in the background even when you’re not using them. They check for updates, send notifications, or sync data. This drains your data silently. On Android or iPhone, go to ‘Data Usage’ or ‘Background App Refresh’ in settings and switch it off for non-essential apps. Leave it on only for apps you truly need, like email or WhatsApp.

The Central Bank of Nigeria (CBN) has announced that from November 3rd, settlement of fixed income securities will migrate to the CBN. By December 1st, the Bank itself will run the trading platform. It is noted that secondary fixed income market platform is currently operated by FMDQ Group with the CBN as the largest shareholder (about 15% stake) seating at the leadership of it’s board over the last decade.

No doubt, the Central bank wanting more control of Government bonds are legitimate as they are the mainstay of monetary policy. They shape interest rates, liquidity, and confidence as the CBN want complete visibility of who is buying, who is selling, and where the money is flowing to. In my considered view this objective can be seamlessly achieved by a simple interoperability between FMDQ and CBN’s platforms. For market transparency and stakeholders’ confidence, it is advised that the investing public deserve more information on the shortcomings of the FMDQ fixed income trading and settlement system (if any) and provide clearer details on need for the planned takeover of the operation of fixed income market in Nigeria.

Again, a regulator that also becomes an operator can be likened to case of being the referee and player in a football setting. It is a known fact that investors prize independence and clarity. Once the CBN starts looking like an exchange and a settlement house, confidence will definitely take a hit. Moreover, the timing of this policy is also concerning because migrating an entire market in a matter of weeks is operationally risky at any rate. One system bug, one failed reconciliation, the market could freeze, liquidity could vanish and yields could spike leading to an avoidable confidence crisis.

Further, Government bonds are capital market instruments hence, they are under the purview of the Securities and Exchange Commission (SEC) regulation because they are listed and supervised by the SEC. Allowing the CBN operate both the trading and the post-trade functions in our financial system undermines the statutory authority of the capital market regulator. We look to see SEC’s response in the weeks ahead. Whilst the CBN is interested in control, and policy leverage, the market is propelled by trust, predictability, and rules that everyone respects. If participants feel the rules can change by fiat, they will demand a risk premium. That means higher yields for the government and more expensive borrowing for everyone else. In fact, if this process is not reversed or managed seamlessly, it has the potential of scaring away portfolio investors from the Nigerian market with profound implication on investor confidence with downside implications on key macroeconomic indicators.

Nigeria spent the last decade building an independent and vibrant market infrastructure. Thus, this latest move by the CBN risks dragging us back to the illiquidity, shallow and undiversified reality that characterized the system in pre-2014 era when the fixed income market was fully operated by the CBN. The ideal path is cooperation by strengthening oversight of FMDQ (stricter governance) and interoperability between FMDQ and the CBN platforms. Investors (local and foreign) yearn for financial markets that they can trust, that they can predict, that everyone respects the rules, and not a controlled /ordered market.

Lagos has always been a city where food is celebrated with passion, and its dining scene is constantly embracing new chapters. While the city is famous for its suya joints, pepper soup spots and smoky jollof rice, there is a growing appetite for meals that are lighter, plant-forward and ethically conscious. Veganism is no longer a passing trend; it is becoming a lifestyle choice for many Lagosians, driven by health awareness, creativity, and a desire to eat differently.

Here are two of the best vegan and vegan-friendly restaurants in Lagos worth visiting

Veggie Victory

When Veggie Victory was founded in 2013, it set itself apart as Nigeria’s first fully vegan restaurant and has since become known as the pioneer of Afro-Vegan dining in Lagos. Long before plant-based food became fashionable, this spot was already experimenting with Nigerian classics in creative, meat-free ways. Located in Dolphin Estate, Ikoyi, the menu covers just about everything from local dishes to intercontinental dishes. You’ll find salads, rice plates, local soups, desserts and even fusion soups that bring a new twist to familiar flavours. Their signature Vchunks, a home-grown plant-based protein, is a favourite and often features in suya, pepper soup and stews. Prices start as low as ?1,500 for protein add-ons and go up to about ?12,000, making it a place that works for a range of pockets.

Gourmet Vegan Kitchen

Gourmet Vegan Kitchen is one of Lagos’s most popular vegan eateries, and it is easy to see why. Located in Ikoyi, the restaurant has built a reputation for its inventive menu that balances hearty indulgence with health-conscious creativity. Dishes such as the vegan mushroom burger, spicy avocado and veggie patty, and their much-loved vegan pizza have made it a go-to for plant-based diners. For those who prefer dining at home, the restaurant makes its meals available through online ordering platforms, ensuring accessibility beyond the restaurant floor. Prices range widely, with a bottle of zobo available for as low as ?2,800, while their standout veggie pizza is sold at ?13,500, a dish many reviewers describe as one of the best vegan pizzas in Lagos.