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I should not have bothered recounting all his Nigeria-centric engagements because Alhaji Aliko Dangote (AAD) has severally said so himself, but I do not want to be accused of plagiarism. Check out his speeches at the Guardian 2015 Man of the Year award, the Nigerian Economic Summit, the Katsina Economic and Investment Summit, the Nigerian-Kenyan business summit, when the VP visited his refinery and at the Corporate Council for Africa event. In all these, he declared his commitment to turning around and diversifying the economy, working hard to take the economy to the next level, building a refinery that is higher than the combined capacity of all refineries, a fertilizer capacity that is ten times more than what is available in Nigeria today, generate 12000MW, more than thrice what Nigeria currently generates and export refined oil rather than importing and creating Jobs elsewhere, list his refinery et al on the NSE and help NSE to outgrow Johannesburg Stock Exchange and how the rate of youth unemployment in Nigeria gives him sleepless Nights(a statement even our PMB has not made), assuring that Nigeria( and Africa) would soon become the world’s food basket. AAD has said and continues to say the right and heartwarming things. Unfortunately, however, these are the kinds of statements that should emanate from Kemi Adeosun, Godwin Emefiele, Udo Udoma, whoever is the chairman of the EMT, and, in sane climes, from the president himself.

‘Furthermore, given the strategic importance of AAD to the fate and fortunes of Nigeria, shouldn’t the government purchase a key-man insurance cover on the man?’

So, like the only rich man in the village, AAD has taken on all the responsibilities. Already other villagers are grumbling: The Ogun State governor complains that Dangote trucks destroy the roads; Ndigbo say the only Dangote investments in Ala-Igbo are deaths and traffic jams caused by his reckless drivers and his trucks; the FCT in 2016 rejected his Salah gifts; some people complain that he cornered an unfair share of our forex, enjoys great tax waivers, is becoming monopolistic and is muscling out other players, citing his spat with Otedola, Ibeto and BUA. Our only luck so far is that Dangote does not overtly throw his weight about.

If he were to behave as some of his drivers..

The Federal Government, on the other hand, is lying low and idling around as AAD undertakes his numerous responsibilities, being his greatest cheerleader and praying that AAD lives long to solve all our socio-economic problems (as PMB did on his 60th BD). Shamefully, rather than do SOMETHING about our pitiable petroleum situation, Ibe Kachikwu publicly begged AAD to finish his refinery ahead of schedule because the government’s promise to end fuel importation in 2019 was based on the refinery! Just imagine that: the government makes a promise to Nigerians and depends on AAD to fulfil the promise! Even Oxfam recently urged AAD and 4 others to use their wealth to end poverty in Nigeria.

The government, representing the Nigerian village, enjoys the positive externalities from the big man without thinking, ‘What if!’ What if AAD wobbles or goes to bed and does not wake up early enough? What if a strategic shift occurs in the organisation or if future Dangotarians are not as cool-headed and Nigeria-centric as AAD? The other day, AAD closed his $20m tomato factory and his Tanzanian $500m cement factory, which cost $4m to power monthly. The health of the Nigerian stock market depends on whether the prices of AAD stocks are rising or falling. What has the government done to create other AADs? Where are the other big men in Nigeria, including those whose kids party across the globe regularly? Why can’t they stand up and be counted? What is the Economic Management Team doing if AAD addresses the challenges of unemployment, diversification, food security, forex conservation, power generation and road construction? Should we not outsource economic governance to him while the presidency manages politics and revenue sharing and makes excuses for the foreign herdsmen? Or more charitably, why not send Osinbajo and the EMT on sabbatical to AAD?. Furthermore, given the strategic importance of AAD to the fate and fortunes of Nigeria, shouldn’t the government purchase a key-man insurance cover on the man?

Meanwhile, I urgently need a Dangote sticker for my rickety car. Travelling from Lagos to the East has suddenly become herculean, and I strongly believe that a Dangote sticker will clear the way for the son of man. As I was concluding this piece, I received the news that a townsman, Law Onyemelukwe of Lafenax Ltd, was named the overall best customer of Dangote Cement for 2017! So, I am vicariously among those enjoying the AAD Effect; at least I can brag: my townsman is AAD’s best customer! That may even get me through the police, customs, FRSC, civil defence and other unclassified checkpoints when next I travel along the Lagos-Onitsha route. But I will also petition the Federal Character Commission to investigate the 2017 AAD awards: the names of the top prize winners (Onyemelukwe, Okika and Ezenyili) did not reflect federal character!

Chukwuma (Chuma) Nwokocha has been appointed the substantive Group Chief Executive of Stanbic IBTC Holdings Plc with effect from October 2. The Board of Directors of the holding company said that Nwokocha’s appointment follows the receipt of all required regulatory approvals.

Nwokocha’s appointment follows the completion of Adekunle Adedeji’s tenure as acting Chief Executive, during which time the Board undertook a formal appointment process in accordance with regulatory requirements. Adedeji will continue in his role as Executive Director/Chief Finance and Value Management Officer of the Company.

Nwokocha is a seasoned banking executive and chartered accountant with over three decades of leadership experience across Africa.

He has held several Chief Executive and Board-level roles in leading financial institutions, including Chief Executive, Standard Bank, SA; (the Mozambican subsidiary of the Standard Bank Group), driving strategic growth, governance, and operational excellence. His expertise spans retail and corporate banking, as well as mergers and acquisitions.

Sola David-Borha, chairman, Stanbic IBTC Holdings Plc, while commenting on the developmen,t expressed the Board’s delight at Nwokocha’s appointment, highlighting his strong track record in board governance, financial oversight, strategic transformation, as well as regulatory engagement.

The Board is confident that Nwokocha’s leadership would be instrumental in driving the growth strategy of Stanbic IBTC Group into the future.

David-Borha also extended the Board’s deep appreciation to Adedeji for his exemplary leadership and dedication, and for steering the affairs of the Company and Group during the transition period.

‘It is worthy of mention that under Dr Adedeji’s leadership, the Group recorded its best financial performance since inception. The Group also successfully completed its Rights Issue Programme which ensured that its banking subsidiary met the Central Bank of Nigeria’s recapitalisation requirements ahead of the 31 March 2026 deadline,’ she said.

For Nigerians seeking a safe haven for their wealth, Dubai is emerging as a prime destination, offering dollar-denominated returns, zero taxes, and long-term residency opportunities through its Golden Visa scheme.

This was the focus at a cocktail reception in Lagos, where LifeCard Group and Azizi Developments are partnering to offer dollar-denominated offshore investments opportunities for Nigerians looking to diversify their investment portfolios by exploring Dubai’s property market.

‘Dubai has shown consistent economic strength, with its currency remaining stable for over 38 years. It’s an environment where investors can enjoy capital appreciation of over 10 percent, without the burden of tax, while securing long-term value for themselves and their families,’ Grace Ofure Ibhakhomu, CEO, LifeCard Group stated.

Ibhakhomu, who is also an African consultant on global real estate and a Harvard-trained investment strategist, urged wealthy Nigerians to diversify their assets and stressed that beyond strong financial returns, Dubai guarantees safety and investor protection.

‘Dubai is a safe haven for investors. The laws are clear, over 516 nationalities coexist peacefully, and the government ensures that investors are protected. Even countries in conflict still have their citizens living together in Dubai. That stability is why global names like Donald Trump are developing luxury towers there,’ Ibhakhomu stated.

She also revealed that with Azizi’s offerings, Nigerians could access properties at lower service charges, enjoy transparency in documentation, and qualify for the 10-year Golden Visa once their investment threshold hits $550,000.

Explaining the partnership choice, Ibhakhomu stated that Azizi Developments was selected for its credibility and investor-focused structure. ‘Azizi is an investor-driven company. They don’t just build and hand over properties; they manage rentals, resales, and ensure investors get their returns. That kind of structure builds trust.’

Audrey Joe-Ezigbo, co-founder and deputy managing director, Falcon Corporation, in a keynote address stated that real estate has the tool for building generational wealth.

‘When we look at our society, we see families destroyed by disputes over inherited properties. Many fall back into poverty. Globalization gives us a safer route, investing not just in naira, but in dollars, as a safeguard for the future,’ she said.

Saad Khaled, regional director, Azizi Developments, stated that the firm has delivered over 40 projects in Dubai since 2008, and it is keen to tap into Nigeria’s huge market.

‘Partnering with LifeCard helps us bring Nigerians into Dubai’s property market with confidence. Investing here secures their future, as they earn in dollars rather than in currencies that fluctuate.’

Over 150 children and teenagers in Lagos took bold steps toward shaping their futures at the fourth edition of Dream Big and Reach for the Stars, a youth workshop designed to help them set goals and visualise their future.

The one-day programme, organised by Amani Health Inc., a digital health organisation that bridges the gap in emotional and mental health care support for children, teenagers, and adults, was held at the Lagos Chamber of Commerce and Industry (LCCI) Conference and Exhibition Centre, Lagos.

It also drew families who joined virtually from outside the state. Participants, aged 7 to 17, took part in a Dream Board exercise where they created visual plans for their ambitions. The organisers said the activity was intended to build clarity, confidence and a sense of purpose. By the end of the day, children left with colourful boards and a shared conviction that ‘my dreams are valid.’

For parents, the impact was immediate and profound. ‘After last year’s edition, my son turned his wardrobe into a vision wall. This time, he already told me he’s putting his academics right at the top. This programme doesn’t just inspire, it changes lives,’ one mother recalled.

Another parent testified that her once-shy daughter now demonstrates stronger self-esteem and keeps a daily reminder of her aspirations.

Ayodele Fasuyi, the convener, said the initiative was born out of a desire to restore the habit of dreaming among Nigerian children, many of whom struggle with peer pressure, social media comparisons, and anxiety about the future. ‘Our goal is to show them that, no matter the noise around them, their dreams remain valid and their future is bright,’ she said.

A highlight of the workshop was a storytelling session centred on Tunde Onokoya, founder of Chess in Slums Africa, whose journey from modest beginnings to international acclaim underscored the power of resilience and focus.

Fasuyi noted that Amani Health had previously partnered with his initiative in 2023, reinforcing the theme of collaboration in youth empowerment.

Corporate sponsors, including Indomie, SunTrust Bank, Rosabon Finance, Pasta n Grills, VDL Technologies, Markov Games AI, AYITI, and Cake Allure, provided refreshments, gifts, and resources. Organisers said this support was crucial to creating a memorable, family-friendly atmosphere.

Now in its fourth year, Dream Big and Reach for the Stars has become a trusted platform for families seeking to nurture children’s growth beyond academics. Parents described it as both inspiring and practical, giving their children clarity about the future while teaching confidence and resilience.

Building on the momentum, Amani Health announced the second cohort of Excel Beyond the Classroom, a four-month skill-acquisition and mentorship programme designed to help children turn their vision boards into reality. The curriculum includes emotional intelligence, digital literacy, entrepreneurship, public speaking, and project-based learning. By the end of the programme, each child will produce a tangible product, project, or portfolio that moves them closer to their dream.

For many families, the message resonated deeply in that, in an age of distractions and uncertainty, the ability to dream big and take practical steps forward may be one of the most powerful gifts children can receive.

‘We want children to move from hope to action. It is not just about dreaming but about equipping them with the tools to make those dreams achievable,’ Fasuyi explained.

BrandTell Business Network (BTN), a thriving coalition of over 400 brand owners across various industries in Nigeria, is set to revolutionise the way small business operators connect with potential customers through its BTN Sales Season 4.0

The event, themed ‘The Ultimate Shutdown,’ promises to deliver an electrifying three-day shopping and networking experience from November 21st to 23rd at the Ikorodu Ferry Terminal in Ebute, Ikorodu, Lagos.

Adenike Fagbemi, executive director of BrandTell Nigeria – the umbrella media and public relations of BTN, emphasised the unique opportunities that BTN Sales Yakata Season IV offers brands and SMEs looking to reach a broader audience, increase visibility, and drive sales.

‘We are thrilled to organise this event, providing a valuable platform for brands and SMEs to thrive. Our goal is to empower businesses with the tools and resources they need to succeed in today’s competitive market,’ she stated.

This year’s edition of the legendary sales event will not only serve as a platform for networking and establishing brand loyalty but also as an opportunity for exhibitors to develop innovative marketing strategies for their products.

‘Whether you’re coming for the incredible bargains, to showcase your brand, or to connect with industry leaders, BTN Sales Yakata 4.0 is your golden ticket,’ Adenike added.

In addition to fostering connections and promoting brand growth, BTN Sales Yakata Season IV reflects BrandTell Nigeria’s unwavering commitment to supporting business owners in advancing their entrepreneurial ventures and connecting more effectively with potential clients.

Attendees will have the opportunity to engage with products firsthand and provide immediate feedback on the diverse range of items on display.

BTN Sales Yakata Season IV promises to be an unforgettable celebration of Nigerian entrepreneurship and innovation.

For more information on participation, sponsorship opportunities, or media inquiries, please contact BrandTell Nigeria via their Instagram and Facebook channels.

Fans know Tekno for dropping bangers. Now, he’s teaming up with the platform, dropping the biggest betting wins in Africa. Whether it’s boosted odds, early cash-outs with 2UP Early Wins, or life-changing payouts on Aviator, JetX, Aero, and Comet, Tekno says it best: ‘betPawa na the real deal.’

This partnership is not just about celebrity glitter; it’s about giving Nigerians what they actually want:

Boosted Odds, Bigger Wins: More juice in top leagues, more money in your pocket.

2UP Early Wins: Get paid even if your team slips after going 2 goals up – same odds, live or pre-match.

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1250% Win Bonus on Sports – the highest in the industry.

Speaking at the unveiling, Borah Ndanyungu, Head of Local Marketing and CSR at betPawa, said:

‘Tekno represents everything betPawa stands for – energy, creativity, and breaking boundaries.

Tekno himself couldn’t hide his excitement:

‘I’ve always been about pushing limits, from the studio to the stage. That’s why betPawa felt like family. The odds, the payouts, the innovation – it’s a game-changer. And you know me, I’m here for winners only.’

betPawa’s commitment to Nigerian sports runs deep. Just this month, the brand announced a landmark sponsorship of the Nigeria National League (NNL) worth over ?494 million, ensuring players earn instant Locker Room Bonuses and helping to grow the local game.

With Tekno now on board, betPawa is betting on culture, creativity, and the spirit of Nigeria itself. His energy, influence, and larger-than-life presence mirror betPawa’s mission: to deliver unforgettable moments and life-changing wins. Together, Tekno and betPawa are setting the stage for a new era in betting – where the music is loud, the odds are boosted, and the payouts are epic.

Visit betPawa.ng today, and see why Africa’s biggest winners are doing it with betPawa.

EmoSIM, Nigeria’s first ‘out-bound’ travel e-SIM, has demonstrated its capacity to provide affordable and world-class mobile experience that allows Africans to access mobile networks in over 190 countries.

Developed in collaboration with Tata Communications, a world leader in digital infrastructure, EMOSIM Travel e-SIM is tailored for the modern Nigerian traveller-whether for business, study, leisure, or diaspora engagement.

Speaking at the Digital Innovations media briefing held in Lagos recently, Jimmy Eboma, EmoSIM Chairman and Founder, explained, ‘EmoSIM was created for travellers who need seamless connectivity anywhere in the world. Our mission is simple: one eSIM for every trip. Our vision is to make global communication seamless, affordable, and swift.

Eboma underscored the company’s three core pillars: ease, convenience, and affordability, noting that activation takes only minutes directly from a user’s phone, with no paperwork required. ‘The solution is as easy as scanning a QR code before travelling, which instantly activates the eSIM,’ he said.

Beyond ease of use, Eboma highlighted security as a key focus: ‘Virtual SIMs cannot be transferred unless both the device and email are compromised. Activation codes are sent only to the user’s email, and eSIM profiles can be deactivated and restored seamlessly in cases of phone theft. With EmoSIM, your identity remains secure, unlike with plastic SIMs, which anyone can use if stolen.’

EmoSIM is also known for its customer-first approach, with plans to extend its value beyond outbound eSIM services into MVNO operations, digitising connectivity and reshaping how Africans experience mobile communication both at home and abroad.

In just three months of its launch, EmoSIM has established physical presence across the SADC region, including. South Africa, Botswana, Zimbabwe, Zambia, Namibia, Mozambique, Eswatini, Lesotho, Angola, Malawi, Tanzania, and the Democratic Republic of Congo, demonstrating its rapid growth across Africa.

Nigeria is positioning itself as a global leader in the Artificial Intelligence (AI) revolution with a National AI Strategy, targeting $15 billion contribution to the nation’s GDP and equipping 70 percent of its youthful workforce with AI skills by 2030.

The announcement, highlighted by Oluwaseun Dania, managing director of Alpha-Geek Technologies, during the United Nations General Assembly’s Global Dialogue on AI Governance in New York, underscores Nigeria’s commitment to harnessing AI for economic growth and equitable innovation.

The National AI Strategy, spearheaded by president Bola Ahmed Tinubu’s administration through the minister of Communication and Digital Economy, Bosun Tijani, is a collaborative effort with the Nigerian Artificial Intelligence Research Scheme (NAIRS) and the National Centre for Artificial Intelligence and Robotics (NCAIR). The blueprint projects a 27 percent annual market expansion through 2030, positioning AI as a cornerstone of Nigeria’s digital economy. The strategy focuses on leveraging AI to bridge infrastructure gaps, drive fintech innovations, and foster stablecoin initiatives, while prioritizing ethical innovation and skills development.

Speaking at the UN, Dania, a prominent voice in African technology, emphasized that Nigeria’s approach is not just about economic gains but about uplifting lives. ‘The success of the AI revolution should be measured by lives uplifted, not merely GDP spikes,’ he said, highlighting Nigeria’s mobile-first AI adoption and its potential to empower the world’s youngest workforce.

With over 60 percent of Nigeria’s population under 25, the goal of equipping 70 percent of young Nigerians with AI capabilities by 2030 is a transformative step toward building a skilled, future-ready generation.The strategy addresses both opportunities and challenges.

Dania warned of AI’s risks, including deepfakes eroding trust, biased algorithms perpetuating inequality, and data monopolies exacerbating global divides.

To counter these, Nigeria’s plan incorporates African-led ethical standards, drawing on the communal value of ubuntu (humanity toward others), to ensure privacy-by-design and bias audits. It also emphasises resilient infrastructure, such as predictive analytics for pandemics and energy optimisation, while safeguarding against the misuse of AI.

Dania stressed that Nigeria’s vision aligns with broader African priorities for equitable AI access, ethical safeguards, and infrastructure investment, adding that, ‘Africa is ready to co-create, not merely comply,’ he declared, urging global stakeholders to include the continent’s 1.4 billion voices in shaping AI governance.

Music has ceased to play in Nigeria, or so it seemed yesterday. The faces that were once brightened by the joy of independence have become dull.

Nigeria yesterday was as cold as iced fish and as quiet as a graveyard. Singers have hung their musical instruments as disappointment runs in their veins. A day that was supposed to be a joyous moment of freedom has suddenly become a day of lamentation. That was the situation yesterday. Who did this to us? How did we get here?

In many cities across Nigeria yesterday, there were conferences hosted by governments, corporate bodies, religious bodies and individuals.

Those gatherings featured nostalgic forays into what worked in yesteryears and what is not working now. The events featured speeches of regret about how Nigeria has not lived up to being a potentially great nation as envisioned by the colonial masters.

This has been the ritual. year after year. Chances are that by this time next year, such gatherings would reconvene. Those who presented papers this year would just dust up the files, change the year, and they would be good to go.less lamentation, you may say.

Yesterday was supposed to be a celebration day. It was supposed to be colourful with many activities to mark it. It was the 65th anniversary of Nigeria’s independence.

But it wore a sombre look by every standard of assessment when compared to what the day used to be shortly after Independence and in the 80s and 90s.

It is a significant date in the life of Nigeria as a country. After a hard fight and agitation for an independent sovereign nation, the colonial masters at the time saw the need to exit the power stool. They handed power to indigenous leaders.

At that time, what is now known as the dreams of the Founding Fathers were born. They dreamed of a nation where tribe and tongue may differ, but in ‘brotherhood we stand’. They dreamed of handing to ‘our children a banner without stain’. They dreamed of a nation ‘where no man is oppressed’.

But whether these have been realised as the country marked the 65th anniversary is open to debate.

Every citizen, irrespective of tribe, tongue and religion, bought into the dream, which accounted for the effusive expression of joy and gladness that greeted the day.

The colonial rule ended at midnight on September 30, 1960. Lagos, which was at the time the capital of the country, was electric with all sorts of celebrations.

A great gathering of people from all walks of life and guests from foreign lands poured in. All Nigerians were on the same page.

No bitter politics. No recrimination. Just celebration galore. Everyone waved the green, white, and green flag, and there were cultural displays representing various parts of the country and their rich cultures.

Schoolchildren staged a march past, and they nursed hope for a brighter future. Many years after the effusive joy and great gladness during the anniversary, the conviviality that used to greet the day has vanished. Increasingly, leaders have reduced the day to a mere nationwide broadcast.

While Nigeria marked the day yesterday, citizens were burdened by many challenges, and they did not see reason to celebrate an independence they believe is largely on paper.

While the country celebrated yesterday, the media space was awash with unpalatable news about killings in some parts of the country by bandits and robbers. The families of 15 vigilante operatives and hunters killed by bandits in Kwara State were in a mourning mood. The murder of a female journalist with Arise Television in Abuja, a few days ago, by armed robbers, was still fresh in the minds of citizens as Nigeria clocked 65.

There was lamentation across the country. While some were complaining about hunger and abject poverty, others were saying that they no longer feel safe. The government’s efforts have not been able to meet the needs of the people.

On the security front, Nigeria has moved from a nation where citizens moved freely in the past to one where any movement from one part of the country to another is fraught with enormous danger.

Killers in the name of bandits, kidnappers, organ harvesters, Boko Haram and other criminal gangs lay siege every inch of the way.

It is so much so that Nigerians now engage in days of prayer and fasting before they embark on interstate journeys. In those days, parents would hand over their children to complete strangers travelling with commercial buses or trains to another part of the country, several kilometres away. Those children arrived at their destinations safely and in peace. Such things no longer happen today. Only politicians with a heavy armada of security personnel and bodyguards can easily move around these days. Nigeria has degenerated to a level where communities are signing memoranda of understanding (MoU) with bandits to be allowed to live in peace in their own domain.

Citizens are slaughtered like chickens across the country. The security situation in Katsina, Kaduna, Sokoto, Zamfara, Borno and now Kwara has become worrisome. Non-state actors appear to be dictating the pace of things in the country.

This was never part of the dreams of the founding fathers. The most worrisome of it all is that we hear daily that those saddled with the onerous task of protecting the lives and property of citizens are being compromised. They are being corrupted to sell out, and the country is paying heavily for it. Life is, incrementally, becoming brutish and short in Nigeria.

Nigeria has come to a point where her citizens prefer living abroad to staying back home, with all the hazards they meet on their way while travelling. Today, if aircraft could be stationed at all the international airports in the country to freight people to Europe and America at no charge for them to go sweep the streets of those countries, not many people would be left behind.

That is the criticality of the situation, and that was never the dream of the forebears.

Unlike at independence, when Nigerians spoke with one voice and saw things from the same point of view, today, they are a divided lot. Nigeria has become a babel, and hatred has deepened.

Many Nigerians, except those in government, agree that Nigeria is more divided today than it has ever been in its 65 years of existence.

The acclaimed social cohesion is non-existent, and the evidence is everywhere. What many Nigerians are seeing today is a nation that is being gradually driven to a precipice. People now talk about their ethnic leaning more than their Nigerianness.

People today are apprehensive about living outside their geopolitical zones; these are no signs of a progressive nation.

As Nigeria marks its 65th year of independence on October 1st, 2025, the prevailing narrative gravitates toward tribulation: inflation, currency volatility, security anxieties, and infrastructure deficits. Yet to obsess over trials alone is to miss the forest for the thorns. The Nigerian economy tells a story of resilience and latent potential that refuses to be extinguished. Here are compelling reasons for the measured celebration of Africa’s Giant.

The foundations of economic power

Nigeria’s economy stands as Africa’s largest, with GDP reaching N372.8 trillion in 2024. The economy expanded 3.84 percent in the fourth quarter of 2024, propelled by a services sector that grew 5.37 percent and contributed 57.38 percent to aggregate output. This reveals an economy gradually weaning itself from petroleum dependency, constructing robust alternative pillars for multi-generational prosperity. Non-oil exports reached $5.456 billion in 2024, a 20.79 percent increase, demonstrating that Nigerian products can compete internationally when afforded appropriate policy environments. The agricultural sector’s value surged to N4.44 trillion in 2024 from N1.24 trillion in 2023, creating millions of jobs while positioning Nigeria as a major agricultural exporter. From cocoa producers in the Southwest to sesame cultivators in the Middle Belt, farmers have transformed Nigeria into a competitive agricultural powerhouse. The Nigerian Exchange maintains market capitalisation exceeding N56 trillion with over 150 listed companies. The pension revolution has accumulated over N18 trillion in domestic savings channelled toward productive investment, while the banking consolidation of 2004 created robust financial institutions now operating across Africa.

Technology and innovation explosion

Lagos’s tech startup ecosystem hosted over 2,000 startups by October 2024, raising over $400 million during the year. The fintech revolution has democratised financial services spectacularly. Paystack processed N1 trillion worth of transactions in July 2024, while one major fintech claims over 50 million users with monthly transaction volumes surpassing $12 billion, fostering 400,000 job opportunities. Nigerian-founded companies like Flutterwave and Interswitch have achieved unicorn valuations, proving world-class technology companies can emerge from Lagos as readily as from Silicon Valley. Nigeria now functions as Africa’s undeniable digital finance leader and the continent’s largest tech talent hub with over 700,000 developers, attracting investments from Google, Meta, and Microsoft. The telecommunications revolution transformed Nigeria from fewer than 500,000 telephone lines in 1999 to over 180 million mobile subscriptions, enabling mobile banking, digital commerce, and countless economic activities. Over 100,000 kilometres of fibre optic cable now undergirds this dynamism.

‘From Guinness Nigeria’s successful localisation to Aba shoemakers’ indigenous entrepreneurship attracting international attention, Nigerian industrial capacity grows steadily.’

Infrastructure development and industrial capacity

The Dangote Refinery, commencing operations in September 2024 with the capacity to produce 650,000 barrels daily, fundamentally alters Nigeria’s petroleum economics. This monument to Nigerian industrial ambition, the world’s largest single-train refinery, transforms the nation from a crude exporter into a potential exporter of refined products. The cement industry achieved self-sufficiency and export capacity, transforming Nigeria from a major importer to a net exporter. The Second Niger Bridge completion, the Lagos-Ibadan Standard Gauge Railway, and the Lekki Deep Sea Port inauguration represent both symbolic and practical achievements. Over 100,000 kilometres of fibre-kilometres of optic infrastructure and 1.5 million new housing units in the past decade demonstrate sustained development momentum. Manufacturing continues to produce goods across numerous industries, with local manufacturers increasingly capturing domestic markets. From Guinness Nigeria’s successful localisation to Aba shoemakers’ indigenous entrepreneurship attracting international attention, Nigerian industrial capacity grows steadily.

Energy sector transformation

The Petroleum Industry Act passage in 2021, after two decades of paralysis, modernised the legal framework governing Nigeria’s most important industry. The transformation of NNPC into a commercial entity introduced accountability into previously opaque operations. Nigeria maintains its position as Africa’s top LNG exporter, while gas-to-power initiatives promise to transform previously flared resources into economic value. Renewables now contribute over 15 percent of rural electrification capacity as solar installations proliferate, reducing dependence on generators while enabling economic activities formerly impossible. The fuel subsidy removal in 2023, though politically risky, represented an economically necessary reform. Crude oil theft clampdown through improved surveillance has enhanced production volumes.

Human capital and creative industries

Diaspora remittances consistently exceed $22 billion annually, representing not merely financial flows but networks facilitating knowledge transfer and business partnerships. Over 60 percent of Nigerians are under 25, representing staggering demographic potential if properly harnessed. Nigerian universities, despite funding challenges, produce graduates competing successfully internationally, while over 120 now offer entrepreneurship studies. Nollywood has become a global cultural force and significant economic contributor. As the world’s second-largest film producer, it employs thousands while projecting Nigerian culture internationally. Nigerian music, led by Afrobeats, has achieved unprecedented global success, representing a multi-million dollar export industry. Nigerian literature continues its distinguished tradition, with authors winning major international prizes and achieving commercial success globally.

Financial inclusion and governance reforms

Financial inclusion expanded dramatically, with over 70 million Nigerians now possessing formal financial access, up from fewer than 30 million in 2010. The Bank Verification Number system enhanced banking integrity, while the Treasury Single Account improved public financial management, curbing leakages and consolidating revenues. The Companies and Allied Matters Act of 2020 modernised business law, easing the process for small and medium enterprises. The survival of democracy since 1999, with power changing hands between parties, provides prerequisites for long-term economic planning. The foreign exchange market reform of 2023, unifying multiple exchange rates, improved transparency and investor confidence. The Nigeria Sovereign Investment Authority, managing over $2 billion in assets, represents forward-thinking resource management. The African Continental Free Trade Area ratification positions Nigeria’s large market as a potential hub for continental commerce.

Grassroots resilience and social progress

Millions of small and medium enterprises form the true economic backbone, employing the majority of Nigerians. The informal sector, from Alaba International Market to the Okada economy providing last-mile transportation, demonstrates entrepreneurial resilience, moving billions in commerce. Cooperative societies provide critical capital for the informally employed. The healthcare system has made remarkable progress in combating previously devastating diseases. Polio has been eliminated, HIV/AIDS treatment has become widely available, and life expectancy has increased substantially. The pharmaceutical industry produces medications domestically, reducing import dependence. Social protection systems have expanded, with conditional cash transfers and school feeding programmes reaching millions of beneficiaries.

Looking forward

At 65, Nigeria stands at an inflection point. The economic foundations laid over decades provide platforms for accelerated growth. The demographic dividend, if properly harnessed, could propel Nigeria to unprecedented prosperity. The diversity of Nigeria’s economy provides resilience against shocks. Challenges remain real and require honest acknowledgement. Infrastructure deficits constrain growth. Security challenges disrupt economic activity. Corruption wastes resources. Policy inconsistency creates uncertainty. These realities cannot be wished away.

Yet achievements documented here demonstrate that progress is possible. From the farmer in Benue to the software engineer in Lagos, from the banker in Abuja to the trader in Kano, Nigerians are building an economy that, while imperfect, provides opportunity and generates wealth. That journey, spanning 65 years, deserves recognition and celebration. The greatest reason for optimism is that the Nigerian economic story is still being written. Its final chapter has not been decreed. If Nigerians bring to future challenges the same resilience, creativity, and determination that have characterised the first 65 years, the economic future remains bright. Nigeria at 65 has much to celebrate and even more to anticipate.

Happy Independence Anniversary to Africa’s Giant.