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President Bola Tinubu has yet to fully resolve Nigeria’s electricity challenges, but his administration remains committed to fulfilling its campaign promise of providing a stable and reliable power supply, according to the All Progressives Congress Presidential Campaign Council.

Dele Alake, the council’s spokesperson, acknowledged that fixing the country’s power sector remained unfinished three years after Tinubu assumed office. Alake defended the administration’s record, stating that the President had taken consistent steps to address the structural, institutional, and financial challenges that have hindered the sector for more than five decades.

In a statement issued on Sunday titled ‘Tinubu’s Electricity Pledge Considered in Full Context’, Alake urged Nigerians to assess the President’s 2023 campaign promise alongside subsequent interventions and the concluding qualification attached to the pledge. During a meeting with the Organised Private Sector in Lagos ahead of the 2023 general elections, Tinubu promised to end estimated billing and ensure stable electricity supply.

‘Whichever way, by all means necessary, you will have electricity, and you will not pay for estimated bills anymore. A promise made will be a promise kept,’ Tinubu stated at the time. He added that voters should not re-elect him if he failed to fulfil the commitment without providing adequate reasons for the shortfall.

Alake noted that some recent commentaries reproduced the President’s pledge without the concluding qualification, arguing that a fair assessment must consider the full statement and performance since 2023. On June 9, less than two weeks after assuming office, Tinubu signed the Electricity Act 2023, enabling state governments to participate in electricity generation, transmission, and distribution.

Lagos, Enugu, Abia, Ekiti, Oyo, Kaduna, and Niger states have begun leveraging the legislation by establishing regulatory agencies and attracting private investment to their power sectors. Furthermore, the administration inherited more than N6tn in accumulated legacy debts between 2015 and 2025 and introduced measures to manage the financial burden.

The government established a N4tn bond programme to settle verified liabilities owed to 21 electricity generation companies and gas suppliers. The first and second tranches of this programme have raised more than N1.2tn to clear part of the verified debts. Additionally, the Presidential Metering Initiative has supplied meters to more than 1.5 million customers over the past three years.

To improve market liquidity, the administration adjusted electricity tariffs towards cost-reflective levels while introducing service bands and protective measures for low-income households. Infrastructure investments include expanding substations and grid capacity, modernising the 60-year-old Osogbo Grid Control Centre, and constructing an East-West super grid. The Rural Electrification Agency has also connected universities, hospitals, and rural communities to solar power.

Regarding the Presidential Power Initiative initiated under late President Muhammadu Buhari, Tinubu reviewed the agreement and signed an acceleration pact with German partners in December 2023 to expedite transmission network projects. The Federal Executive Council approved contracts in December 2024 for the first batch of five Transmission Company of Nigeria substations in key load centres, which are nearing completion ahead of the administration’s first term.

An additional batch of projects was approved in June 2026 for the construction of eight new substations and the upgrade of four existing facilities. Alake emphasised that electricity infrastructure projects require long-lead equipment and cannot be completed overnight. Private generation companies, such as Geregu Power Plc, have similarly invested in new power transformers to enhance operations at the Geregu 1 Power Plant.

Balancing commercial viability with affordability remains a priority as the government continues to explore measures to enhance sector sustainability. ‘Fixing the electricity market and power sector is ongoing work,’ Alake concluded, adding that the President will present his scorecard and address outstanding issues as he seeks a second term.

As part of its efforts to showcase Africa’s culture and talents to the world, Amanar Group, a talent and project management company, has co-hosted the Diaspora Week Lagos 2026 opening reception.

Held in Lagos recently, the event was aimed at ensuring that the global community starts coming to Africa to see and connect with the continent first-hand.

The evening was made possible in partnership with Amplify Africa, The Temple Company, and Levitikal Group.

The intimate reception officially welcomed the global diaspora to Lagos, bringing together creatives, entrepreneurs, investors, executives, and culture-shapers from across the diaspora and Nigeria.

The reception set the tone for two weeks of culture, commerce, and community in Lagos, including Lagos Fashion Week, Art X, AFRIFF, Moonshot by TechCabal, CANEX, and more.

‘The reason this is very important for us to do is that a lot of importing has to be done for there to be a balance, ‘ said Abdul Quam Tadese (AQT), leader of Amanar Group.

According to him, African excellence is continually taken abroad, and it’s time for the world to start coming into Africa to see and connect first-hand,’ said AQT, who leads Amanar Group.

The reception reflects Amanar Group’s wider mission of building infrastructure for African creativity to thrive globally.

Operating across music, live events, creator partnerships, fashion, and cultural initiatives, the company has delivered culturally authentic experiences at scale, from the Afrobeats Festival in Berlin in 2023 to the sold-out UNILAG Independence Day Festival and its Kaduna edition, which drew more than 10,000 people.

Through Camp Lagos, its creative and industry immersion, Amanar also mentors emerging talent in branding, legal strategy, and global representation, in partnership with multi-platinum American producer Scorp.

Amanar Group is a culture-led strategy and project management company redefining how African creative ideas are structured, scaled, and delivered globally.

Led by Abdul Quam Tadese (AQT), global business mogul and music executive, Amanar operates across music, live events, creator partnerships, fashion, and cultural initiatives, bridging African creativity with international audiences.

Nigeria stands today at a decisive inflexion point in its democratic journey. The nation’s political landscape is increasingly defined not by the loudness of electoral participation but by the silence of abstention. The politics of no-vote-often dismissed as apathy-has matured into a potent political signal, a collective expression of disillusionment, distrust, and frustration with a system perceived as unresponsive to the needs of its people. This phenomenon is not merely a democratic inconvenience; it is a structural warning that Nigeria’s political and economic foundations are under strain.

In a country where economic development and sustainability are urgent imperatives, the rise of no-vote politics threatens to weaken the very mechanisms required to achieve national progress. Democracy thrives on participation, legitimacy, and accountability. When citizens withdraw their consent through abstention, the democratic engine slows, governance becomes fragile, and economic transformation becomes increasingly elusive. Nigeria must therefore confront this challenge with intellectual honesty, institutional courage, and strategic foresight.

Understanding the politics of no-vote

The politics of no-vote is not a passive act of indifference. It is an assertive political stance rooted in accumulated disappointments. Many Nigerians have come to believe that voting does not produce meaningful change, a perception shaped by decades of electoral irregularities, unfulfilled promises, and governance failures. The ballot box, once a symbol of hope, has become for many a symbol of futility.

This disillusionment is particularly pronounced among the youth, whose political energy has migrated from polling units to digital platforms. Social media has become a theatre of civic expression, where frustrations are aired, movements are mobilised, and alternative visions of governance are debated. Yet this digital vibrancy contrasts sharply with declining physical participation in elections. The youth, who constitute a significant portion of Nigeria’s population, now engage politically without engaging electorally.

Regional disparities further complicate the landscape. Communities that feel historically marginalised or economically neglected often abstain from voting as a symbolic protest. Their silence is a message: the system does not serve them, and participation feels pointless. When such sentiments become widespread, they weaken national cohesion and erode the legitimacy of democratic institutions.

The economic consequences of no-vote politics

Democracy and economic development are inseparable. A disengaged electorate produces leaders with weakened mandates, undermining the stability required for economic growth. Investors-both domestic and foreign-monitor voter turnout as an indicator of political stability. Low participation signals uncertainty, discouraging long-term investments and slowing economic progress.

Policy continuity, essential for sustainable development, becomes fragile when electoral outcomes are shaped by disengagement rather than robust participation. Leaders elected by a minority of eligible voters often struggle to implement transformative policies, lacking the broad public mandate necessary for bold reforms. This fragility disrupts long-term planning, weakens institutions, and creates an environment where economic policies are easily reversed or abandoned.

Political disengagement also erodes accountability. Leaders who do not fear electoral consequences may become complacent, allowing corruption to flourish. Corruption undermines economic development, widens inequality, and perpetuates poverty. Communities that abstain from voting lose political leverage, becoming invisible in policy formulation and resource allocation. Their economic marginalisation deepens, creating a vicious cycle of disengagement and deprivation.

Thought processes behind no-vote behaviour

To address the politics of no-vote, Nigeria must understand the psychological and social dynamics that drive it. Many citizens believe their votes do not count, a perception reinforced by historical electoral malpractice. Others feel that all politicians are indistinguishable, lacking ideological diversity or moral distinction. This belief fosters cynicism and discourages participation.

Another prevailing thought is that democracy has not improved daily life. Citizens judge governance by tangible outcomes-jobs, security, infrastructure, fairness. When these outcomes remain elusive, democracy itself becomes suspect. The perception that the system is rigged against ordinary people further fuels disengagement, creating a sense of powerlessness.

Digital participation also shapes no-vote behaviour. Many young Nigerians feel more empowered through online activism than through voting. Social media provides immediate visibility and influence, whereas electoral participation feels distant and ineffective. This shift in civic engagement must be understood and addressed if Nigeria is to revitalise its democratic culture.

The link between democracy, economic development, and sustainability

Nigeria’s democratic health cannot be separated from its economic realities. Sustainable development requires stable institutions, predictable policies, and inclusive growth. Democracy provides the framework for these outcomes, but only when citizens participate meaningfully. A disengaged electorate weakens institutions, undermines policy continuity, and erodes public trust.

Economic development thrives in environments where the rule of law is respected, public institutions are transparent, and leadership is accountable. These conditions attract investment, stimulate innovation, and promote equitable growth. Sustainability, in turn, demands responsible resource management, climate-resilient infrastructure, and long-term planning. Nigeria’s vast natural resources, youthful population, and emerging digital economy offer immense potential, but this potential cannot be realised without a stable and participatory democratic system.

Solutions: Re-engineering Nigeria’s democratic and economic future

Nigeria must adopt a comprehensive strategy to reverse the politics of no-vote and strengthen democratic sustainability. Rebuilding trust in electoral processes is paramount. Transparent systems, secure digital technologies, and strong institutional independence are essential. Electoral malpractice must be met with strict penalties, and real-time monitoring should be made accessible to the public to enhance transparency.

Civic education must be revitalised. Citizens need to understand how voting influences economic outcomes and national development. Schools, religious institutions, and digital platforms should be leveraged to promote democratic participation. Influencers and community leaders can play a vital role in reshaping public perceptions of voting.

Governance performance must improve. Citizens disengage when leadership fails to deliver. Governments must prioritise policies that directly impact daily life-job creation, security, healthcare, and infrastructure. Performance-based governance metrics and quarterly scorecards can enhance accountability and rebuild trust.

Economic reforms are critical for inclusive growth. Nigeria must expand opportunities in the digital economy, strengthen small and medium-scale enterprises, and implement regional development plans to reduce inequality. Green industries and sustainable agriculture should be promoted to align economic growth with environmental stewardship.

Technology offers powerful tools for democratic sustainability. AI-driven platforms can facilitate public consultations, while blockchain can enhance transparency in public finance. Digital town halls can bridge the gap between leaders and citizens, fostering dialogue and trust.

Essentially, Nigeria must strengthen its social contract. National unity requires inclusive dialogue, recognition of historical grievances, and the promotion of shared national narratives. Democracy thrives when citizens feel heard, valued, and included.

A new democratic imagination for Nigeria

Nigeria stands at a crossroads. The politics of no-vote is a warning sign, signalling that citizens are losing faith in the democratic process. To build a sustainable future, Nigeria must re-imagine democracy as a continuous, participatory, and economically productive system. A sustainable democracy is one where citizens feel heard, leaders are accountable, institutions are strong, and economic opportunities are widespread.

The next chapter of Nigeria’s democratic evolution will depend on whether the nation can transform no-vote politics into renewed civic engagement and align democratic governance with economic development and sustainability. The stakes are high, but the possibilities are immense. Nigeria must seize this moment to build a democracy that works, an economy that grows, and a future that endures.

Conclusion

The politics of no-vote is not a trivial trend; it is a profound democratic alarm. Nigeria cannot afford to ignore it. The nation’s economic aspirations, sustainability goals, and democratic stability depend on revitalising citizen participation. A democracy without voters is a democracy without legitimacy, and a nation without legitimacy cannot build a resilient economy or a sustainable future.

Nigeria must therefore confront this challenge with urgency and resolve. By rebuilding trust, strengthening institutions, enhancing governance performance, and expanding economic opportunities, the nation can transform political disengagement into renewed civic energy. The future of Nigeria’s democracy-and its economic destiny-depends on the choices made today.

Oliver Odili, a globetrotter and businessman, turned 66 on October 23, 2026, and shared his worldwide experience with his friends on what Nigeria lacks and why citizens seem to be heartless.

He said there is absence of assurance of today through welfare system and absence of bank-based support for citizens’ future.

Odili, a chief known as the Ohamadike 1 of Alaike Obowo in Obowo LGA of Imo State, cited several examples of how systems operate in different countries he visited or lived in.

The Peoples Bank concept

That is why the western economy is different from ours. For instance, when I got to Germany the first time in my life, that was far back in the late 1980s. A friend from Gambia I met on the street who learnt I just arrived and didn’t know what to do, asked me to stop a cop and ask for help. He told me they would give me food and shelter and even some money right away.

He called the police and told me to be bold and talk to them. As I talked to the police, that was all. They took it from there. They have the peoples bank. It’s a bank where the government puts a certain percentage of funds every year and where rich also put money. They also do endowments in case of their death, funds there would be used to help people.

We wonder what the Nigerian governments do with excess funds and how they expect citizens to tap into the excess funds if there is no peoples bank system. That’s the question, that’s the problem.

Most people are unhappy that there is no support system for the vulnerable. Our people believe that only the politicians are accessing the public treasury. This is because the politicians look well to do. Most of them use the outcry of the masses to create election messaging to get into power. When they do, they become worse. Every country sets aside funds to support the weak right from time. In Nigeria, nobody knows about this fund.

There must be welfare package for citizens

So now Nigeria is running a full blown capitalism. There must be a welfare package to cushion the pains of capitalism. All hands cannot be equal.

Governments have identities of all citizens wherever they may be. They know who can be appointed to run the bank, etc. Its unlike in Nigeria where the government does not know where its citizens are. Government does not know families that mismanaged government funds, and families that cannot be trusted for monetary aspect. I expect government to fish out people that can be trusted, that can have access to an endowment fund.

It appears Nigeria is going into full-blown capitalism; taxing everything. The question is where this money is going to. That’s a problem. The proper thing is that our ATM cards should give us access to some petty cash or credit, as it is done elsewhere.

Money must be trackable and remittances from outside Nigeria should be tracked because it must pass through bank.

The concept is for government to understand that a citizen must have access to some credit because if a citizen cannot touch money no matter how small, the mere reasoning that there is nothing in his account is the worst sickness. This is where government has to really touch lives.

Onetime military president, Ibrahim Babaginda, came up with the Peoples Bank but we don’t know if the concept was different and where it crashed. Nigerians should be captured to help them. The nation must know those who are real Nigerians, and put some levy those who are not.

Leaders are building their countries. The Sheik that built Dubai is today respected all over the world. When I visited Dubai first in 1999, it was a near-ordinary place. Today, go to Dubai. The last time I was coming from Islamabad and passed through Dubai, it was wonderful. Neon lights screamed: ‘See Dubai and die.’ I decided to take five days off to look around; to Sharjah, Ajman, etc. It was wonderful. I asked myself, what is wrong with our people? Dubai, from nothing to everything! By 1999, they offered me free office accommodation to bring my business there. This is how they attracted investors.

Now, money pouring into Dubai, and the money is also being shared fairly, not for a particular group of people. In Nigeria, what is our welfare money? With all the taxation, what are we setting aside for Nigerians?

It is very obvious Nigeria is not saving for the next generation. They are not giving the elders any small money. They are not doing anything. Where is this money going to? I don’t know whether the Nigerian Constitution did not capture it. But if they didn’t capture it, that means there is something wrong with the Constitution.

There’s something wrong in any country where those living big do not have anything set aside to take care of our people that are not able to meet up. That is serious oversight. Peoples Bank is the answer to give money to the aged, the poor, the weak.

The fear that people will abuse it is taken care of by an identity system that makes it impossible for anybody to escape. They have nowhere to run to because of National Identity Number (NIN). That is the engine that runs the system. It guarantees that people are living and are guaranteed of tomorrow. It makes the people calm.

When I told the police that I just arrived Germany and that I was hungry, they put me inside their motor and took me to their office. They took my fingerprint and no criminal record. There and then they bought me biscuits and everything and drove me to the nearest cash card. They sat me down, I ate.

They carried me to the bank and give me one paper there, I withdraw money. Yes, I did. I put it in my pocket. They now directed me that if was not leaving the country, I should go to a place and seek political asylum. They’ll give me house and feed me.

They did not care much about my country. They were eager to give me food to solve my hunger. They do not want anybody to be hungry in their country. They believe that a hungry citizen or resident would be dangerous. All they cared for was to confirm I had no criminal record.

They sent me to where I would get support if I didn’t have anybody sending me money to stay longer to finish my business and go. They also showed me where I could go and do proper documentation for my continuous staying in their country, if I wanted.

The moment I said, I wanted to stay, they said, make your choice. You want to go to technical school? It’s free of choice. You go.’

They have a policy of integration. They want you to integrate. The only problem you have with them is if you don’t want to integrate, and you don’t want to go. If you learn the technical school, you’ll be like one of them.

Normally, Europe has a policy of indoctrination. When you indoctrinate, you don’t have any problem. You learn the work, do the work, because their mechanics are the richest people. They respect mechanics and advertise them. Here in Nigeria we talk grammar and from there, we talk Yahoo-Yahoo. People now run after a yahoo-yahoo boy or man.

So, that is the mental state of Nigeria. Instead of us now talking about technology, we wasted our oil wealth. A Nigerian born 66 years ago when the country gained Independence is still hustling, whereas men born the same time in most other parts of the world have achieved a lot in functional profiles.

Our children are not technologically advanced to meet up with the new age of technology.

On life at 66

I’m a businessman with children, boys and girls. I deal on earth-moving equipment and also I am a consultant in many other areas that have to do with technology, including construction, marine, and other related oil and gas sectors.

At this age, a man evaluates himself, from 40. Every year that crosses, you evaluate yourself, because not only that you are becoming one more year each year, you add in sense. God gives you sense for every step of the way at that age because you have got a lot of responsibilities for yourself and the family, your community, and more, at that point.

So you must evaluate yourself where you are doing well, whether it is in the family or in your social aspect, etc. God created man and made him to be not only responsible for himself and his family, but also responsible for the society. So you have to check how you are improving in all these areas and match the stock with the blessing God gives you; if you are using your talents or you are just looking at them and wasting them.

You must know that as the age is advancing, it comes with authority, it comes with a guarantee. A man of 66 years as I am now, I don’t need visa to go to America or to any country. These days when I go to any embassy to obtain visa, they would just ask, Chief, when are you travelling. They don’t process visa for me anymore.

Some benefits come with age. They know I can’t travel to their country and start to do stupid things or start to hustle. They know I have grown to the age of having responsibility where I am already.

You also have to evaluate your environment, your exposure, what kind of exposure you had when you were growing, which environment did you grow up in? As a man or a woman getting older, what is your vision? What are you trying to give back to your family, to the society? Things do not always work for a man the way he wants it. No, he has to work for it. He has to fight for it. There is always some force and energy trying to bring you down.

So you have to put more energy in order to bypass, to kill the downtime and match up. So these are the things any man growing must pay attention to.

At a point, you look at yourself and decide that you are retiring at, say, 80 years. You check your environment, check your children, check everybody. Are they going to help you in retirement age? How much have you saved? Are you going to go back to labouring?

Too bad to be a dundee in old age

You may measure your children and discover that they are not measuring up. There could be bumps along your way to old age. Then, you start to rearrange and keep rearranging, so that nothing takes you by surprise, because the worst thing that can happen to a man is to become a dundee at his old age.

You find you don’t have a good car that you could use for the remaining days; you don’t have a good house you’re going to live for the remaining years, you don’t have money to pay for people who are going to be of assistance to you, you don’t have the money to keep yourself in good environment, eat good food, drink good water-very, very important. All those things add up and can make you to have a bad age.

Globe-trotting:

Experience from globetrotting

I can say that I have been to almost every country except Australia and the US. I lived in Germany for 14 years. I’m a businessman and this took me to many countries of the world. Even when I came back to Nigeria, most of the time each year I do travel on vacation.

Imo in dire straights

I think Imo State and Nigeria as a whole are running an economy that has no welfare package to support the citizens. The people are not all that strong. Many do not know the rule of money and how to make money; how to cultivate the grace of making money.

Way out

Imo state government as a people have a right to make progress. There are a lot of things they can do to advance in terms of attracting money to the state. But the question is: where is the liver? The people at the top, do they have the liver to put something down they can be remembered for, like when Sam Mbakwe created jobs for Imo people?

Now, Imo Concord Hotel is more or less abandoned. Poultry Farm project is abandoned. All things Mbakwe set up to employ our boys have been abandoned. New ones are not being built. Yet, students are pouring of school every year. So, there’s a complex problem.

Man in his own inherent nature, will steal, if he is under pressure and you did not monitor him properly.

It is wrong to make a constitution that a governor should have immunity and operate with every power without control? The commissioners are not checkmated. How do citizens make input into governance?

So, by the time we make the law that allows the masses to ask for accountability, I think we would have started bringing changes at that point. Who is going to ask the governors any questions?

Nigeria on life support

So, for now, Nigeria is on life support by what we are doing as a people. We are on life support, waiting when the heart will pick up. It is when the heart picks up that we start to talk about what needs to be done and what is going on.

Nigerian football administrator Samson Adamu has been appointed General Secretary of the Confederation of African Football (CAF), months after assuming the role in an acting capacity.

His appointment was approved by the CAF Executive Committee following a recruitment process conducted by the continental football governing body. CAF announced the decision on Sunday.

Adamu had served as acting General Secretary, following the resignation of Veron Mosengo-Omba.

CAF President Patrice Motsepe said the appointment followed a comprehensive recruitment exercise in which the position was widely advertised, and several candidates were interviewed.

‘Adamu brings extensive experience in African football administration, having joined CAF in 2018 as Director of Competitions before subsequently serving as Director of Tournaments and Events.

‘He has played a leading role in the delivery of several major continental competitions, including CAF’s flagship tournament, the TotalEnergies CAF Africa Cup of Nations,’ Motsepe said.

Adamu has worked with CAF for eight years, first as Director of Competitions and later as Director of Tournaments and Events, gaining experience in the organisation and delivery of major continental football competitions.

A graduate of the FIFA Master programme in International Management, Law and Humanities of Sport, Adamu brings institutional knowledge and administrative experience to the position.

Adamu is expected to oversee CAF’s day-to-day administration and support the implementation of the organisation’s strategic priorities.

He is the son of Amos Adamu, a former Director of Sports in the then Ministry of Sports and a former member of the FIFA Executive Committee.

His appointment adds to a distinguished line of CAF General Secretaries, including members of Egypt’s Fahmy family.

Kwara State Governor, Abdulrahman Abdulrazaq, has approved the appointment of governing councils for eight state-owned tertiary institutions and nine other government agencies to strengthen professionalism and improve service delivery.

In a statement signed by Mashood Abdulrafiu Agboola, Deputy Chief Press Secretary, the affected institutions include: the Kwara State Scholarship Board; International Vocational, Technical and Entrepreneurship College (IVTEC), Ajase-Ipo; Kwara State Polytechnic, Ilorin; International Aviation College, Ilorin; College of Nursing Sciences, Ilorin; College of Education, Oro; College of Education, Ilorin; College of Nursing Sciences, Oke-Ode; and Kwara State Agency for Mass Literacy.

Other agencies covered are the Kwara State Primary Healthcare Board; Kwara State Rural Water Supply and Sanitation Agency (RUWASSA); Kwara State Road Traffic Management Authority (KWARTMA); Kwara State Rural Electrification Board; Kwara State Social Investment Programme (KWASSIP); Kwara State Housing Corporation; Kwara State Environmental Protection Agency (KWEPA); and Kwara State Signage and Advertisement Agency (KWASAA).

Former presidential candidate, Gani Galadima, will chair the governing council of IVTEC, Ajase-Ipo, while Ahmed Ameen Funsho will head the 17-member Kwara State Scholarship Board.

Musa Yeketi has been appointed chairman of the Kwara State Polytechnic governing council, while Adua Ismail Mustapha, Nigeria’s first Professor of Aviation Law, will chair the council of the International Aviation College, Ilorin. Both councils have six members each.

Amudipe Christiana Titilayo will chair the governing council of the College of Nursing Sciences, Ilorin, while Gezinde Adedeji Amosa and Engineer Muhammadu Suno Gofe will head the councils of the Colleges of Education in Oro and Ilorin, respectively. Each of the councils comprises six members.

Allen Onyema, the Chairman and Chief Executive Officer of Air Peace, West and Central Africa’s largest airline, has congratulated Fidelity Bank Plc on the successful repayment of its US$400 million Eurobond at maturity, describing the achievement as a remarkable demonstration of financial strength, institutional discipline and visionary leadership.

In a congratulatory message issued on behalf of the Board, Management and Staff of Air Peace Limited, Onyema commended the Bank for meeting its obligations throughout the five-year tenure of the Eurobond, particularly its decision to fund the repayment entirely from internal liquidity.

He attributed the milestone to the strategic foresight of Fidelity Bank’s Managing Director and Chief Executive Officer, Nneka Onyeali-Ikpe, whose leadership, he noted, has continued to strengthen the Bank’s financial standing and reputation within Nigeria’s banking industry.

Highlighting the critical relationship between banking and aviation, the Air Peace Chairman underscored the importance of financially resilient institutions such as Fidelity Bank in supporting capital-intensive sectors, particularly aviation, where access to financing remains essential to fleet development, operational sustainability and industry growth.

He noted that strong partnerships between financial institutions and indigenous enterprises are indispensable to strengthening Nigeria’s economic competitiveness and advancing the country’s broader development aspirations.

Onyema congratulated Onyeali-Ikpe, the Board, Management and the entire Fidelity Bank family, expressing confidence in the institution’s capacity to attain even greater milestones.

He reaffirmed Air Peace’s goodwill towards Fidelity Bank, wishing the institution continued growth, enduring stability and greater accomplishments in Nigeria’s financial services landscape.

The high cost of international calls and mobile connectivity in Nigeria is creating demand for alternative digital communication services, with technology firm Esdiac Global unveiling a platform aimed at reducing calling expenses for individuals and businesses.

The platform combines international and local calls, travel eSIM, mobile data services and artificial intelligence-powered customer support in a single application.

The platform, introduced at the Esdiac Global media parley and stakeholders’ engagement in Abuja, combines international and local calling, mobile data services, electronic SIM (eSIM), digital top-ups and business communication solutions in a single application.

Austin Ugbebor, managing director and chief executive officer of Esdiac, said the platform was developed to address the high cost of international calls, expensive roaming services and connectivity challenges facing individuals and businesses in Nigeria.

He said international calls through conventional mobile network operators could cost an average of N234 per minute, while Esdiac’s platform could significantly reduce the cost of reaching people outside the country.

He added that the company was positioning the platform as an alternative to conventional app-to-app communication services such as WhatsApp and Messenger.

‘Esdiac is an app-to-phone platform, not app-to-app like WhatsApp or Messenger. So on that, we operate on a different way.

‘With that one unit, you can call the U.S., China for at least an hour,’ Ugbebor said

According to him, the technology allows users to call people who do not have the application or access to the internet, including those using conventional mobile phones and landlines.

Ugbebor explained that the platform uses Voice over Internet Protocol (VoIP) technology to connect calls to regular telephone numbers, allowing recipients to receive calls without registering on Esdiac.

The company also introduced eSIM services targeted at international travellers, who often face expensive roaming charges or depend on public airport Wi-Fi when they arrive in foreign destinations.

The business segment of the platform incorporates artificial intelligence-powered agents designed to handle customer enquiries, make bookings and respond to calls when business owners or their employees are unavailable.

Daramola Olugbenga, lead infrastructure and security engineer at Esdiac, said the company had developed a scalable technology infrastructure designed to support up to one million concurrent calls.

He said the platform was built by a team of engineers, leveraging existing technologies to improve call reliability and voice quality, particularly in areas with weak internet connectivity.

‘We are looking at the initial scale of maybe a million customers, one million concurrent calls at the moment,’ Olugbenga said.

He added that the company was targeting a call delivery rate of more than 90 per cent, with the technology designed to maintain clear voice communication even where users experience poor data connections or weak Wi-Fi signals.

On its business offering, Olugbenga said the company had integrated artificial intelligence agents that could engage customers in conversations rather than rely solely on conventional automated voice response systems.

‘If your agents are not available 24-7, you have your AI agents get to answer calls on your behalf, make bookings. So when you wake up or whenever you’re available, you get to see those bookings,’ he said.

The company also addressed concerns about data security and local data storage, with Olugbenga saying it had established a point of presence in Nigeria to enable data storage and processing within the country.

He said the platform was designed to comply with requirements of the Nigerian Communications Commission (NCC) and the Nigeria Data Protection framework.

Responding to questions on data protection, Ugbebor said the company was required to comply with NCC regulations and restrictions governing the handling of customers’ information.

He said the company also maintained a United States licence from the Federal Communications Commission (FCC), alongside its Nigerian regulatory obligations.

Ugbebor further explained that although Esdiac uses major mobile network operators for subscriber authentication, it operates its own telecommunications backbone.

He said the arrangement allows the company to authenticate subscribers through mobile network operators while running its own calling infrastructure.

The company’s approach, he said, was designed to ensure that Nigerian customer data was not transferred outside the country in violation of applicable regulations.

Also speaking at the event, Tope Fasua, Special Adviser to President Bola Tinubu on Economic Matters, described the platform as a potential step forward for telecommunications services in Nigeria.

Fasua, who said he attended the event as a prospective customer, said the platform could help individuals and businesses reduce communication expenses.

‘From what I’ve seen today, it’s a great product, and I think it’s the next level for telecommunications in Nigeria,’ he said.

He recounted his experience of purchasing an expensive eSIM at the Abuja airport for a trip to Bangkok, which worked in London but failed to provide connectivity in Bangkok.

Fasua said he hoped Esdiac’s eSIM service would offer better value to travellers, adding that the platform appeared more affordable than the service he previously purchased.

‘If it tells you that you can make a call abroad for 13 Naira, believe him that you can make it for 13 Naira,’ he said, comparing the company’s claim with international calling rates charged by conventional mobile network operators.

He urged Nigerians seeking to reduce communication costs to consider the platform, while indicating that he would test its services.

The Chartered Institute of Bankers of Nigeria (CIBN) has called on recapitalised banks to expand access to affordable, long-term financing for small businesses as Nigeria seeks to translate N4.65 trillion in fresh bank capital into industrial growth, job creation and economic transformation.

The Institute said the success of the banking sector’s recapitalisation exercise would depend on how effectively lenders deploy their stronger capital base to support manufacturing, agriculture, infrastructure and small and medium-sized enterprises (SMEs), rather than focusing mainly on balance sheet growth.

Dele Alabi, president and chairman of council of the CIBN, made the call at the Institute’s 2026 Fellowship Investiture Ceremony in Lagos on Saturday, where he said Nigeria had reached a critical stage in its financial sector reforms.

Following the completion of the recapitalisation programme in March 2026, the banking sector mobilised N4.65 trillion in fresh capital, with 33 banks meeting the new minimum capital requirements.

‘The question before us is no longer whether our banks have sufficient capital, but whether that capital will translate into new industries, expanded businesses, better infrastructure, thriving SMEs, sustainable jobs, and shared prosperity,’ Alabi said.

He said Nigeria had an opportunity to deploy the enhanced capital towards manufacturing, agriculture, infrastructure, energy, technology and other productive sectors.

The call comes amid concerns about the allocation of bank credit, particularly to manufacturing, where lending declined by 33.8 percent from N8.53 trillion in December 2024 to N5.65 trillion in August 2026, according to a presentation by Tayo Aduloju, chief executive officer of the Nigerian Economic Summit Group (NESG), at the same event.

Manufacturing’s share of total bank credit also fell from 17.4 percent in December 2023 to 8.7 percent in August 2026, while average credit to trade and commerce increased by 49 percent year-on-year to N5.9 trillion between January and August 2026.

The figures highlight the challenge facing policymakers and lenders as they seek to ensure that stronger bank balance sheets translate into productive investment and wider access to finance for businesses.

Aduloju said the recapitalisation exercise had strengthened banks’ lending capacity, but high borrowing costs, liquidity constraints, credit risks and the mismatch between short-term deposits and long-term industrial projects continued to limit financing for productive sectors.

Although the Central Bank of Nigeria reduced its monetary policy rate to 23 percent in September 2026, bank lending rates remained between 19 percent and 32.6 percent, according to the NESG presentation.

Government borrowing also continued to compete with private businesses for available funds. Credit to the government increased by 63 percent year-on-year to N39.4 trillion in September 2026, compared with 16 percent growth in private-sector credit to N83.9 trillion.

Aduloju argued that Nigeria’s industrial financing challenge was not simply a shortage of capital, but the fragmented way existing financial institutions mobilise and deploy funds.

He proposed a more coordinated financing framework involving commercial banks, pension funds, insurance companies, development finance institutions and credit guarantee institutions to expand access to long-term capital and reduce lending risks.

The NESG also recommended credit guarantees, interest rebates and tax incentives to encourage lending to productive sectors, alongside improved access to financing for businesses that lack conventional collateral.

Speaking at the event, Babajide Sanwo-Olu, governor of Lagos State, similarly urged recapitalised banks to develop more accessible credit products for smaller businesses, support industrial clusters, finance equipment acquisition and strengthen supply chains linking small enterprises to larger markets.

He said government intervention alone could not meet the financing needs of Nigeria’s growing business community, stressing the need for stronger collaboration between government, financial institutions and private investors.

Sanwo-Olu pointed to opportunities around the Lekki Deep Sea Port, industrial activities along the Lekki corridor, infrastructure investments and the Lagos State Electricity Law as areas where stronger bank participation could unlock private investment, improve productivity and create jobs.

He also highlighted the role of the Lagos State Employment Trust Fund in supporting entrepreneurs through access to finance, enterprise development and capacity building.

Alabi said the CIBN would continue to promote practical solutions to the financing challenges facing smaller businesses. The Institute is scheduled to host its CIBN MSME Forum on December 1, 2026, to advance discussions on expanding access to finance and accelerating enterprise growth.

The Institute is also advocating the establishment of SME hubs across Nigeria to provide entrepreneurs with financing, business support services, capacity development, digital tools and market opportunities.

Beyond access to credit, the NESG identified reliable electricity, logistics, port infrastructure and access to foreign exchange for machinery and industrial inputs as essential conditions for industrial expansion.

The presentation noted that the national grid delivered an average of 4,113 megawatts in the first quarter of 2026, compared with installed capacity of 13,625 megawatts.

Nigeria’s industrial policy targets include increasing manufacturing’s share of gross domestic product to 15 percent by 2030 and 25 percent by 2035.

The CIBN said the banking profession must support these ambitions through responsible lending, sound corporate governance and stronger professional competence.

For the Institute, the next phase of recapitalisation must move beyond stronger balance sheets to financing businesses, expanding productive capacity and creating sustainable employment opportunities across the economy.

Quidax, an African-founded cryptocurrency exchange, is positioning itself to provide the infrastructure and regulatory support for banks, asset managers and fintech companies seeking to introduce stablecoins and other digital assets to their customers as Nigeria’s financial services industry prepares for deeper institutional adoption of cryptocurrencies.

Buchi Okoro, co-founder and chief executive officer of Quidax, said the company expects growing interest from traditional financial institutions and businesses across different sectors seeking to integrate stablecoins into their products and services over the next five years.

The shift could expand the use of digital assets beyond individual traders and cryptocurrency investors, bringing stablecoins closer to mainstream financial services, including payments, cross-border transfers and the management of currency exposure.

Okoro said Quidax intends to become a trusted technology and infrastructure partner for institutions making the transition, with emphasis on regulatory compliance, market education and operational standards.

‘Over the next five years, our focus is on supporting the ecosystem around us. More and more institutions – banks, asset managers, fintechs and businesses across every sector – are considering how to bring stablecoins and digital assets to their own customers.

‘We want to be the trusted partner that helps them on that journey: educating the market, holding ourselves to the highest professional and compliance standards, and building the infrastructure that lets them serve their customers today and well into the future,’ he said.

Okoro spoke on Tuesday at The Exchange, an invitation-only event on stablecoins and digital assets hosted by Quidax in partnership with Tether, issuer of USDT, at the Lagos Continental Hotel. The gathering brought together regulators, financial technology executives, industry leaders and legal and audit professionals.

The proposed institutional expansion comes as Nigeria consolidates its position as one of the world’s largest cryptocurrency markets, with stablecoins increasingly used by individuals and businesses to move money across borders and manage exposure to currency fluctuations.

John Briggs, head of the Securities and Exchange Commission’s Lagos Zonal Office, representing the Commission’s director general, Emomotimi Agama, said Nigeria received more than $92.1 billion in on-chain value between July 2024 and June 2025, making it the largest recipient in Sub-Saharan Africa during the period.

Across the region, on-chain value received exceeded $205 billion, representing an increase of approximately 32 percent year-on-year, according to Chainalysis figures cited by Briggs.

He also said the 2026 Global Crypto Adoption Index ranked Nigeria third globally in overall cryptocurrency adoption and first in peer-to-peer activity and cross-border flows.

‘These are not abstract statistics. They are Nigerians who are traders, families, young entrepreneurs, using digital assets, and stablecoins in particular, to move value across borders and manage currency risk,’ Briggs said.

The figures highlight the commercial opportunity for financial institutions seeking to reach customers already using digital assets outside conventional banking channels. They also point to the growing importance of stablecoins in Nigeria’s payments and cross-border financial ecosystem.

However, moving institutional customers into digital assets will require more than access to cryptocurrency trading platforms. Banks and asset managers will need reliable infrastructure, clear compliance arrangements, transparent operations and safeguards that address custody, transaction monitoring and consumer protection.

Okoro said trust would determine whether digital assets could gain wider acceptance among businesses, regulators and customers, arguing that institutions operating in the sector must demonstrate accountability rather than rely solely on technological innovation.

Quidax, which received a provisional licence from the SEC, is seeking to use its regulatory standing to strengthen its position as an intermediary between traditional financial institutions and the digital asset ecosystem.

‘Trust is the new currency. In the physical world, people can walk into a branch, shake a hand and look someone in the eye. In the digital world, they cannot, so trust has to be earned in other ways: through regulation, transparency, and doing the right thing every single day. If your customers, your partners and your regulators cannot trust your business, nothing else you build will matter,’ he said.

For the SEC, the expansion of digital assets into mainstream financial services presents an opportunity to develop a regulated market while addressing the risks associated with a rapidly growing industry.

Briggs said the Commission was determined to ensure that Nigeria’s digital asset market developed on the foundation of trust, particularly as stablecoins become more important to financial transactions.

‘The question before us is not whether digital assets will shape the future of finance in Nigeria. They already do. The question is whether that future will be built on trust. The Commission is determined that it will,’ he said.

The emerging institutional interest could create new opportunities for licensed exchanges and infrastructure providers, but the pace of adoption will depend on how effectively regulators and market participants address operational, compliance and consumer protection concerns.

For Quidax, the opportunity is to move beyond serving individual cryptocurrency users and become part of the underlying infrastructure through which banks, asset managers and businesses deliver digital asset services to their customers.