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The latest in the line of foreign shipping companies to sail vessels powered by alternative energy into Nigeria’s seaports is Gold Star Line, which berths its first liquefied natural gas (LNG)-powered containership, the MV Sapphire, at APM Terminals in Apapa, Lagos.

The vessel, built in 2024, sails under the flag of Singapore, with a capacity of 7,800 twenty-foot equivalent units (TEUs).

Todd Rives, managing director of Lagos and Niger Shipping Agency Limited (LANSAL), which represents Gold Star Line in Nigeria, said the arrival of the MV Sapphire is part of efforts to reduce voyage costs, promote operational efficiency, and reinforce environmental sustainability.

The Gold Star Line, incorporated in 1958, is one of the oldest shipping agencies operating in Nigeria. Rives said the vessel starts off a new era in Nigerian maritime trade, with an expectation that sister ships would also call at the port in the near future.

Kayode Daniel, commercial manager of APM Terminals Apapa, explained that shipping lines globally are working together to reduce emissions, in line with international sustainability targets, appreciating LANSAL for deploying LNG-powered vessels in support of the United Nations Sustainable Development Goals.

Adebowale Lawal, the port manager of the Lagos Port Complex Apapa, said that LNG vessels are critical in addressing the challenges of climate change, while at the same time reducing costs and driving economies of scale. He assured stakeholders that of the Nigerian Ports Authority’s full involvement in the development.

The arrival of the MV Sapphire comes just months after Apapa welcomed its first LNG-powered vessel, the Kota Oasis, a 260-metre containership with a gross tonnage of 77,850.

Liquefied Petroleum Gas (LPG), popularly known as cooking gas, prices have continued to climb across Nigeria, leaving many households frustrated, BusinessDay’s checks revealed.

According to the survey, the prices of cooking gas have gone as high as N3200 per kilogramme in parts of the country. Indicating a 100 percent increase from the N1600 per kg recorded three days ago.

Earlier, BusinessDay reported that cooking gas prices had already risen by 33 percent in key cities, forcing families to ration consumption.

This is coming days after the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) suspended its strike against Dangote Petroleum Refinery.

The industrial action, which disrupted gas supply chains and triggered a spike in costs, was officially called off earlier this week following government intervention.

However, prices of Liquefied Petroleum Gas (LPG) remain elevated, with checks showing wide disparities depending on location.

In Lagos, residents reported sharp increases. Ahmed said gas now sells for N1,600 per kilogramme in Orile, while Oyin noted prices had climbed to N2,000 in Ikorodu.

Fadeke Popoola, who lives in Sabo Yaba, close to the University of Lagos, said she paid N3,200 per kilogramme of cooking gas, more than double the price from just weeks ago.

Across the country, a 12.5kg cylinder now retails for between N16,500 and N18,000, up from N12,750 barely a week ago, according to market checks and data. The unrelenting surge has sparked outrage online, with many lamenting how the crisis is squeezing household budgets.

‘If you see anyone selling cooking gas as a means of livelihood, hug them and press money in their palms. The price of LNG has risen and it’s difficult to even get to buy. Which kain country be this? No gas and no sales,’ wrote @Macazeee on X.

Another user, @Zoyablooms, posted, ‘I truly hate being Nigerian. Cooking gas being scarce is not okay. This place makes me sick.’

@_realkingsley also shared a photo of a queue in Sabo, Ikorodu, asking, ‘Cooking gas scarcity. No gas in my area. Again I ask, is the Dangote vs PENGASSAN war touching Nigerians already?’

@Azizolurhemmy added, ‘Please, how much is cooking gas in your area? This price I am hearing is like they want to sell the gas plant to me.’

Despite the truce, industry stakeholders say supply remains constrained.

Olatunbosun Oladapo, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), told newsmen that the strike crippled gas plant operations, especially in the southwest.

‘Dangote, our major supplier in terms of availability and affordability of the product, is yet to release loading invoices to our members who have pending products with the company for more than three weeks, forcing marketers to buy from other competitors at a high rate,’ he said.

Other suppliers reportedly took advantage of the supply gaps to increase their prices, compounding the situation for retailers and consumers.

Ellah Lakes Plc has announced an agreement to acquire Agro-Allied Resources and Processing Nigeria Limited (ARPN). The transaction is expected to significantly expand its palm oil production footprint.

The agro-industrial company which has turned its focus to the oil palm industry disclosed this on October 3 in a corporate disclosure. According to the release, the acquisition involves taking over 100 percent of ARPN from ARPN PTE Ltd, a Singapore-based entity jointly owned by Tolaram Africa and Valuestar Holdings.

The deal follows shareholder approval at Ellah Lakes’ Extraordinary General Meeting in July to raise N250 billion through equity offerings. This deal is expected to give the company control of 11,783 hectares of cultivated land, including 6,280 hectares of oil palm plantations and 2,093 hectares of cassava plantations. It also covers an additional 10,393 hectares of uncultivated land.

According to the release, the age profile of the plantations positions the company for sustained output. It noted that 60 percent of the oil palms are in peak productivity, 30 percent between two and four years, and the remainder under two years.

According to the company, the acquisition will immediately boost its scale and processing capacity. it will also unlock long-term growth opportunities in crop diversification and vertical integration. The transaction is, however, subject to regulatory clearance from the Federal Competition and Consumer Protection Commission (FCCPC), with completion targeted for December 2025.

Chuka Mordi, Chief Executive Officer of Ellah Lakes, described the deal as ‘a defining step’ in the company’s transformation journey.

‘This acquisition will more than double our production footprint, accelerate earnings growth, and position us as a national champion in agro-industrial production,’ Mordi said. ‘We are excited about the immediate and long-term value this transaction will deliver to our shareholders and to Nigeria’s broader food security objectives.’

The company has been actively pursuing growth opportunities this year. In July, its shareholders voted in favour of a planned N250 billion capital raise. According to the management, the raise is needed to strengthen Ellah Lakes’ balance sheet and provide the funding capacity needed to execute its expansion strategy.

If successful, the equity raise and ARPN acquisition will place Ellah Lakes in a stronger position to compete in Nigeria’s food and agro-processing industry.

The ECOWAS Bank for Investment and Development (EBID) has approved $308.631 million to finance clean energy, industrial development, and sustainable growth projects across the West African region.

The approval came during the bank’s 93rd Ordinary Session held at its headquarters in Lomé, Togo.

George Donkor, President and Chairman of the Board of Directors of EBID, said the financing would strengthen regional integration and promote economic diversification in line with the bank’s mandate to drive sustainable development across the Economic Community of West African States (ECOWAS).

A significant portion of the financing is earmarked for Nigeria, as the bank approved $98.18 million for the construction of a 50 MW Solar Photovoltaic Power Plant in Taraba State. The project, according to Donkor, is expected to expand access to reliable, clean electricity, reduce energy poverty, and promote environmental sustainability.

According to EBID, the facility will directly provide electricity to about 390,000 people, enhance power supply for more than 200 public institutions, create 400 direct jobs during construction, and provide 50 permanent roles once operational.

In addition, between 1,200 and 1,500 indirect jobs are expected to be generated through supply chains, maintenance services, and small-scale enterprises. The bank also approved $79.219 million for a modern rice processing complex and a 10,000-hectare irrigated rice production unit, also located in Taraba State.

The project aims to support food security, increase local production capacity, and create new opportunities for agribusiness in Nigeria.

In further support of industrialisation, EBID approved $91.232 million for the establishment of the Taraba State Industrial Park. The park is designed as an integrated industrial ecosystem that will accelerate local manufacturing, enhance value addition, and support economic diversification.

The bank also allocated $40 million to Vista Bank in Guinea to strengthen trade-related activities, including import-export operations and commercial value chains.

Donkor stressed that the financing decisions demonstrate EBID’s commitment to fostering strategic partnerships with both public and private sector stakeholders, while aligning with broader regional priorities for clean energy adoption, agricultural development, and industrial growth.

‘These projects will not only transform the economic landscape of our member states but also uplift communities by creating jobs, improving energy access, and enhancing regional competitiveness,’ he said.

The irony is not just thick; it is crippling. In a country where the vast majority struggle with erratic power, soaring costs, and the daily humiliation of underdevelopment, we have come to accept and even, in some cynical quarters, applaud the deliberate interruption of critical national services as a standard tool of industrial negotiation. The ongoing strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which cut gas supply and contributed to a significant drop in power generation across the country, is the latest and most egregious example of this culture of institutionalised cruelty. It proves the central tragedy of modern Nigeria: we have built a society so devoid of collective compassion that holding 230 million people hostage is considered a ‘flex’ rather than a colossal act of economic and social sabotage.

‘The Manufacturers Association of Nigeria condemned the union’s action as ‘unconscionable’ and a grave threat to investor confidence, asking how any investor would commit billions of dollars only to see their project decimated by industrial disputes.’

The core argument of the unions, that they are fighting for justice against an unscrupulous employer like the Dangote Refinery, is, on the face of it, entirely legitimate. Allegations of unlawful dismissals and anti-labour practices for unionisation are serious infractions that must be swiftly and forcefully addressed. However, the strategic weapon deployed, i.e., the paralysis of the national energy grid and the threat of fuel scarcity, is a deeply flawed and morally bankrupt choice. It is a classic case of wielding a ‘double-edged sword’ with such reckless abandon that the champion inflicts the most debilitating wounds on the very society it claims to represent.

When PENGASSAN halts gas supply, the consequence is not merely a loss of profit for the refinery; it is a direct blow to thermal power plants, which generate over 70 percent of Nigeria’s electricity. As the Nigerian Independent System Operator (NISO) confirmed, the action led to widespread generation shortfalls and required emergency measures to avert a nationwide blackout. For the small business owner whose refrigerated stock spoils, the student who cannot read at night, or the patient in a hospital relying on an unstable public supply, the strike is not a fight for workers’ rights; it is an act of calculated oppression.

This disproportionate use of power is not a new phenomenon; it is a structural problem. The oil and gas unions, along with those in electricity and public administration, represent a tiny, highly concentrated fraction of the workforce, just 7 percent of Nigeria’s entire labour force. Yet, because they are strategically located in the ‘critical, interconnected sectors of the economy’, their actions create a ‘domino effect’ that grinds the country to a halt. The paradox is clear: an elite, protected minority uses its strategic chokehold to demand redress for its members while inadvertently reinforcing the hardship on the vast 85 percent of the population operating in the unprotected informal sector.

The reaction from the broader economic community is telling. The Manufacturers Association of Nigeria condemned the union’s action as ‘unconscionable’ and a grave threat to investor confidence, asking how any investor would commit billions of dollars only to see their project decimated by industrial disputes. I agree with them. I also agree with the economists and consumer groups who warned against ‘holding over 230 million Nigerians to ransom’ and urged the unions to seek redress in the National Industrial Court, rather than deploying ‘terror tactics’ against a strategic national asset.

For Nigerian trade unionism to remain a relevant and positive force, it must move away from the ‘strike-as-a-primary-tool model’. This is not an argument against the right to strike but against the right to deliberately inflict maximum, widespread suffering as a first resort. It is a call for a strategic evolution towards ‘research-driven policy alternatives, technical advocacy, and strategic litigation’.

The unions’ true fight for justice should involve expanding their focus to the unrepresented 85 percent of the informal sector. Until then, when PENGASSAN throws the switch on the national grid, it is not merely disrupting the market; it is exposing a profound, self-inflicted flaw in the country’s character: a willingness to sacrifice the common good for sectional demands. It is the arrogance of power that mistakes the ability to inflict pain for true national relevance. Nigerians deserve, and must demand, a more compassionate and constructive model of advocacy.

Africa remains one of the world’s most dynamic continents, blessed with immense cultural wealth, a young population, and abundant natural resources, beyond its oil, gas, and mineral riches, that are increasingly shaped by fast-growing non-resource sectors such as services, technology, and agriculture. This shift is evident in the global recognition of African fintech giants, Kuda(Nigeria/UK), MTN South Africa(South Africa), Flutterwave(Nigeria), Palmpay (Nigeria), Tala(Kenya/US), Piggyvest(Nigeria), and Yoco(South Africa), all ranked among the top 250 fintech organisations.

According to Statista, here are the top 5 African countries with the highest GDPs for Q3 of 2025

South Africa – $410.34 Billion

South Africa continues to hold the top spot with a GDP of $410.34 billion. The economy grew by 0.1% in the first quarter of 2025 compared to the final quarter of 2024. Its growth is supported by a diversified economic structure: mining and resource exports (platinum, gold, chromium), robust manufacturing industries (automotive, machinery, chemicals), a sophisticated services sector (finance, insurance, telecommunications), and strong infrastructure (ports, railways, and roads). These pillars collectively sustain South Africa’s role as the most industrialised economy in Africa. Egypt – $347.34 Billion

Ranked second, Egypt’s $347.34 billion GDP reflects its strategic position and diversified income sources. The Suez Canal remains a vital stream of foreign exchange through transit fees and related services, while tourism and hospitality draw millions annually to its ancient sites and coastal resorts. Egypt also maintains strong hydrocarbon, refining, and petrochemical industries, which bolster both domestic industries and export earnings. Its mix of history, geography, and industrial strength makes Egypt a key African economic hub. Algeria – $268.89 Billion

Algeria’s $268.89 billion economy is still heavily dependent on oil and gas, which account for the bulk of exports and government revenues, according to the IMF. Despite this reliance, the country has invested significantly in infrastructure and social development over the last decade, helping reduce poverty and improve living standards. While hydrocarbons dominate, Algeria’s gradual shift toward broader development reflects a long-term effort to build resilience against oil price shocks. Nigeria – $188.27 Billion

Nigeria, with a GDP of $188.27 billion, ranks fourth in Africa. As the continent’s most populous country, it benefits from a vast domestic market. Oil and natural gas remain its primary sources of foreign exchange, but Nigeria’s economy is increasingly powered by the services sector. Information and communication technology, telecommunications, Nollywood (its globally recognised film industry), and financial services are expanding rapidly. Industrial giants such as Dangote Cement and the newly launched Dangote Refinery highlight Nigeria’s ambition to strengthen its role not just in West Africa, but across the global energy and manufacturing landscape.

Morocco – $165.84 Billion

Morocco rounds out the top five with a GDP of $165.84 billion. Its economic model is built on diversification and deliberate long-term planning. Phosphates and fertiliser derivatives remain important exports, but Morocco has also developed a competitive automotive industry that supplies European markets, a growing aeronautics sector, and a strong tourism industry that draws foreign spending. This balanced growth approach has allowed Morocco to quietly but steadily establish itself as one of Africa’s most competitive economies.

As Nigeria positions itself at the forefront of Africa’s innovation landscape, the 10th edition of the Nigerian Innovation Summit (NIS) marks a major milestone in the nation’s digital and technological journey.

Since its inception in 2016, the summit has grown into a critical platform for cross-sector dialogue, policy reform, and groundbreaking innovation, having recorded participation of over 12,000 from different sectors. This year’s edition, themed ‘Sustainable Innovation,’ promises to inspire conversations that set a bold agenda for the continent’s future.

Backed by partners such as the Nigerian Communications Commission (NCC), MTN Nigeria, Lagos Chamber of Commerce and Industry (LCCI), the International Society for Professional Innovation Management (ISPIM), stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the African Innovation Academy, the Credit Bureau Association of Nigeria (CBAN), the Bank of New Innovation (BONI), QNET, eHealth Africa, and strategy and PR firm, Phenom Communications, the summit is positioned to deliver unmatched value.

This year’s summit will feature a keynote address from Aminu Maida, executive vice chairman and CEO of the Nigerian Communications Commission; Chinyere Almona, DG/CEO, Lagos Chamber of Commerce and Industry (LCCI); Michelle Lane Messina, CEO of Explora International LLC; Toyosi Akerele-Ogunsiji, founder and CEO of Rise Networks and Rise Interactive Studios, Africa; Eghosa Urhoghide, managing director of the Edo State Information Communication Technology Agency, and Obinna Iwuno, president of SiBAN.

Other speakers include, Teresa Aligbe, CEO, Phenom Communications; Sheila Moor, founder and CEO of Fresh Fare HQ; Caroline Moore, founder/CEO, Ideamarketplace; Nnedinma Obioha, founder/CEO, TecTerminal Ltd; Adaobi Orajiaku, founder of Atsur; and Richard Sodienye Pepple, founder, Technoville; Chiemela Anosike, CEO and founder of Solaris GreenTech Hub; and Kevinblak (popularly known as Governor Amuneke), a creative force in Africa’s digital entertainment scene.

The media reach of the summit continues to expand, with partnerships from top technology and business outlets including Techtrends Africa, The Cable News, Techclout Africa, Tech Insider, Techeconomy, Brand Times, ITPulse, Nigeria Communications Week, Founder Story, The Nigerian Economy, Rave News Online, Coinratecap, among others.

As the Nigerian Innovation Summit celebrates a decade of thought leadership and transformative collaboration, this edition stands as a pivotal moment for innovators, entrepreneurs, policymakers, and investors. More than just a gathering, it is a strategic call to action for building a resilient, inclusive, and future-ready Africa.

Omowunmi Osholeye, a corporate banker and researcher on digital finance and cybersecurity, has asserted that the growth and survival of SMEs in today’s digital economy depend on integrating strong cybersecurity measures into their operations.

Disclosing this recently in a press briefing, she underscored the growing cyber threats facing SMEs.

Osholeye, who in 2021 published ‘The Growth of Digital Currencies and the Impact of Cyber Risk,’ explained that cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs) are not speculative bubbles but represent ‘a significant shift reshaping the future of finance.’

According to her, the COVID-19 pandemic accelerated this shift as lockdowns forced businesses, trade, and payments online, making digital wallets and cashless services part of daily life.

She noted that for SMEs, this rapid transition opened new markets through faster transactions, but at the same time exposed them to cyberattacks.

‘Technology alone cannot safeguard businesses. Most SMEs lack the funding and technical support needed to protect themselves, which makes them easy targets for cybercriminals,’ Osholeye said.

Her warning comes as cybercrime continues to surge globally, rising in tandem with the adoption of digital financial systems. Phishing emails, ransomware, and impersonation scams have become dominant threats.

The Cybersecurity Breaches Survey confirms this trend, reporting phishing as the most frequent cybercrime targeting businesses.

Small firms, Osholeye added, are particularly vulnerable to impersonation attempts, with cybercriminals replicating staff emails or fabricating supplier invoices to steal funds.

‘Digital currency adoption without cybersecurity measures is a dangerous trap,’ she cautioned. ‘A business cannot scale if its cash flow is at risk from cyberattacks; similarly, a loan becomes worthless if ransomware drains a company’s accounts.’

Osholeye also argued in the statement that digital finance can significantly contribute to economic growth in emerging markets, but only if cybersecurity safeguards are built into financial systems from the ground up.

‘Without these protections, the growth potential of digital currencies will be severely compromised,’ she stated.

She pointed to practical steps SMEs can adopt, drawing attention to the UK National Cyber Security Centre’s Small Business Guide, which recommends simple but effective measures such as securing passwords, implementing two-factor authentication, and regularly backing up data.

Looking ahead, Osholeye highlighted that digital currencies, blockchain, AI-driven fintech platforms, and CBDCs will continue to shape the future of global finance. However, each technological advance also increases the exposure of SMEs to cybercrime.

She concluded by urging SMEs to take proactive steps to secure their digital infrastructure. Osholeye is a seasoned corporate banker and researcher whose work bridges development economics and digital security, with a focus on how emerging technologies shape financial growth and risk management.

At 65, Nigeria is old enough to command respect, yet young enough to reinvent itself. But instead of marking this milestone with pride, many Nigerians have chosen to curse the country, to refuse to celebrate her, and to dismiss her future as hopeless. This trend is not only dangerous, it is self-destructive.

Words create perception.

Nigeria is not just a government; it is her people. When we curse Nigeria, we curse ourselves. When we brand our country as corrupt, hopeless, or irredeemable, we reinforce the very stereotypes outsiders already hold against us. We are the first ambassadors of Nigeria, and the words we use shape both global perception and our national identity.

Other nations face deep flaws. The United States struggles with racism and inequality, the UK with economic stagnation and disunity, and the EU with political fractures. Yet, their citizens rarely call their countries worthless. They criticise, yes, but they also defend. That balance is why they maintain global respect. Meanwhile, many Nigerians reduce their contributions to WhatsApp rants and social media curses.

A call to build, not just complain

Nigeria does not need more spectators; she needs builders. If all we can offer at 65 years of independence is condemnation, then history will count us complicit in the very decline we complain about.

Here is what real engagement looks like:

Organise politically: If the existing parties have failed us, let us create a new one not driven by moneybags but by like minds. A party built on brains, not bullion vans. One that thrives on ideas, strategy, and a clear manifesto rather than cash politics.

Step up and step in: Criticism from the sidelines will not fix Nigeria. Some of us must run for office, starting at the local level. Others must lend expertise to credible candidates. When your children ask what role you played, it will not be enough to say you forwarded complaints on WhatsApp.

Share solutions across sectors: We can build citizen-led organisations that track government promises, monitor manifestos, and demand accountability. If leaders promise 1,000 schools, we must count them. If they pledge roads, we must check if they were built. Accountability is not foreign; it is local, and it begins with us.

Leverage our connections: Let’s face it, every Nigerian knows someone in government. A friend, a cousin, a classmate, a neighbour. Instead of gossiping about failings, let’s use these connections to push for reforms and real change.

Nigeria happened to us.

Nigeria is not an abstract idea; it is us. It is our families, our communities, our future. To curse Nigeria is to curse ourselves. To abandon her is to abandon what is possible.

This Independence season, let us resolve to move beyond lamentation to organisation, beyond cynicism to activism, and beyond criticism to contribution. Nigeria at 65 is not the end of the story. It can be the beginning of a new chapter, but only if we write it together.

Terra Academy for the Arts (TAFTA) and the Mastercard Foundation have trained about 50,000 youths in theatre and creative arts.

Joseph Umoibom, Academy Lead at TAFTA, while speaking at the TAFTA Action Learning Project (TALP-X), stated that with the support of the Mastercard Foundation, TAFTA has trained approximately 50,000 youths across Lagos, Ogun, and Kano States.

‘Many of our participants have never stood on such a platform before. To now see them write, script, and perform their own productions on Nigeria’s biggest theatre stage is proof of their boldness and growth,’ Umoibom said.

He described the initiative as a celebration of talent, creativity, and teamwork, while highlighting the scale of the impact.

The creativity and achievements of young Nigerians trained in theatre and the creative arts were deployed through two original plays written and performed by Nigeria’s rising creative stars. The second play was performed by 400-level LASU students in the Department of Theatre and Creative Arts.

Speaking at the event, Afeez Oyetoro, Head of the Department of Theatre Arts at LASU, underscored the importance of bridging academic learning with real-world stage experience.

‘TAFTA gives them the opportunity not only to learn theory, but also to experience professional stage performances. There’s a difference between having talent and having proper training, and that is what they are gaining here,’ Oyetoro said.

The event also featured inspiring stories from TAFTA alumni who are already leaving their mark on the Nigerian creative space. Happiness Adegbite, now an actor, filmmaker, and content creator, shared how the academy transformed his directionless beginnings into a purposeful career.

‘TAFTA gave me structure. I went on to produce Broken Korean Steel Corridor, Letter to My Father, and The Last Boss to Freedom. Today, I mentor others, speak at career summits, and have even received recognition from the U.S. government. TAFTA made me believe the sky is only the starting point.’

Iluyasi Faith, a visual artist who transitioned into animation and digital arts, said, ‘I discovered TAFTA on Instagram, and what caught my attention was that it was free.

‘I stayed consistent and today I’ve built a brand that inspires young women by combining arts and entrepreneurship. TAFTA and Mastercard Foundation gave me that platform,’ she said.

Peter Friday, an aspiring filmmaker, emphasised TAFTA’s role in shaping his career, ‘I’ve always loved performing arts, but TAFTA gave me the structure and blueprint to create. My vision is to tell impact stories that not only entertain but also educate and resonate with society.’

Salma Hamlina, who overcame stereotypes to build an art business, said, ‘My experience at TAFTA was transformative. I now see myself not just as an artist, but as a businesswoman empowering other women.

‘Women’s stories and skills are vital in building a richer, more inclusive creative economy. Your talent is your power, don’t let anyone tell you otherwise,’ she noted.