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The Federal Government which seeks a $1trn economy has been told how to easily meet the target and probably get to as high as $3trn within the period targeted.

He also said the right tech deployment could add half of Nigeria’s annual tax to current amounts, saying evidence is already on display.

This was the major echo at the StartupSouth 2025 summit which began in Port Harcourt Thursday, October 2, 2025.

Sylva Opuala-Charles, a professor of economics and financial expert, who delivered a keynote at the well-attended event, said technology adoption could be the game changer in the quest.

The Bola Ahmed Tinubu administration has since declared the ambition of a $1trn gross domestic product (GDP) before year 2030, from current $200bn to $300bn levels. Now, the professor said Nigeria could get to $3trn if the right technology is adopted.

Opuala-Charles, the founder and president of the Port Harcourt Premier Business School who was a banker and onetime finance commissioner in Bayelsa State, said the trillion-dollar economy could be majorly aided by research and development investment expenditure. ‘Research and Development (RandD) expenditure is the gross domestic spending on research and development, as a percentage of GDP.’

The world average is in RandD is 2.67%. ‘The US is at 3.59% as against less than 0.5% for Nigeria. ‘For instance, technology adoption in revenue collection could improve the country’s revenue generation by over 50% in the medium term.

‘We are already seeing this happening with the government generating over N20 trillion in revenues by August 2025 as against half of this in the corresponding period of last year with increased technology adoption in the process.’

He said with technology adoption in procurement, expenditure management in government and the private sector, there would be a major turning point for Nigeria’s growth and development.

Speakers and top stakeholders at the Startupsouth 10th annual conference in PH

He said with a population of under 35 years of age comprising about 75% of Nigeria’s population, the government and big corporations can stem the country’s growth challenges by taking remarkable measures to promote and adopt technologies in all sectors.

To achieve this, Opual-Charles suggested immediate establishment of technology parks in major cities to provide tremendous business and job opportunities to young people and innovative minded citizens as inalienable rights to change their lives.

‘With technology, capital will not be much of a challenge as scaling and repeatability are the major drivers in the startup space. What the government owes us is to make technology work and legislate to make both public and the private sectors take it to the next level. This will also help the ease of doing business, which is capable of attracting foreign direct investments into the country and creating new economic businesses, changing lives, transforming institutions and strengthening the economy.’

The conference, the 10th, seems to shake the south-south especially Port Harcourt. Most participants and experts around Nigeria and beyond streamed their commendations and appreciations for the journey so far.

Chairman of the StartupSouth, Kalada Apiafi, who is a known personality in the Small and Medium Enterprise (SME) space in the Niger Delta, said key resource in any business is information. He said Startupsouth was a place to get the strategic information tips to build, connect, and grow as the slogan says.

In his remarks, the convener, Uche Aniche, showed how the states of the south-south and east have faired in startup and tech.

Major speakers that thrilled the participants on day one include those from Google, Main One (now Equinix), and goodwill messages.

Hotels across Jos, the Plateau State capital, have been fully booked following an influx of guests arriving for the burial of Mama Lydia Yilwatda, mother of Nentawe Yilwatda, the All Progressives Congress (APC) National Chairman.

The burial, scheduled for Saturday, October 4, 2025, will take place in Kanke Local Government Area, the hometown of the bereaved family. The ceremony is drawing top politicians, dignitaries, and sympathizers from across Nigeria.

A survey of several hotels in the Rayfield area of Jos on Friday by BusinessDay revealed that rooms have been unavailable since midweek. Among the fully booked facilities are CRISPAN Hotels, Silk Hotel along Zaramangada Rayfield Road, and ELIM Hotels. A hotel staff, who spoke to BusinessDay on the condition of anonymity, confirmed that most of the guests checked-in as early as Wednesday. ‘Almost everyone here is attending the burial,’ said a staff member at Elim hotels. The high turnout underscores Nentawe’s rising political influence since his appointment as APC National Chairman months ago. Many of those in attendance are said to be party stalwarts, public office holders, and community leaders.

Heightened Security Presence in Jos

Security has been visibly beefed up across Jos and its environs, particularly around hotels. Traffic congestion has increased in parts of the city, prompting officials to deploy additional personnel to manage movement and ensure safety throughout the weekend.

The deceased, is remembered as a respected matriarch and community leader. She is survived by her children, grandchildren, and great-grandchildren. Guests are expected to begin traveling in Kanke early Saturday for the final rites.

Nigerians mark the 65th independence anniversary of their beloved country this Wednesday; few will disagree that, amidst the myriad of unnerving socio-economic and security challenges facing the nation, Nigeria remains a great country still waiting to happen. October 1, therefore, signals another opportunity to ponder on the state of the nation and the failure of leadership that has largely defined the country’s misfortune. To that extent, no patriotic Nigerian can pretend to be satisfied with the development and progress of this country 65 years after independence. Yet, it is not misguided optimism to argue that the nation’s best days are still ahead.

Nigeria remains a country of diverse nationalities, cultures, religions and values and has defied all doomsday predictions to remain a united nation. This is enough reason for self-congratulation and hope of a better future. On balance, however, there is little to celebrate about Nigeria at 65. As the depressing indices show in areas such as security of life and property, food production, industrial output, quality of education and healthcare, economic diversification and productivity, there is indeed cause for worry. Not only do Nigerians eat the bread they do not produce, wear clothes they do not weave, and drink wine imported from other countries, but they now import almost everything, including toothpicks.

Nigerians today read books, quote facts and figures about their country from foreign sources and parrot models of development designed by outsiders with vested interests. Sixty-five years after independence, many are even wanting to blame the present parlous state of the country on British colonialists who left over six decades ago. At 65, Nigeria has much catch-up to do. And let no one be deluded that 65 years is a short time in the life of a country. The Nigerian economy is in dire straits, with the potential to get worse if sound political and economic judgement is not brought to bear on the affairs of state.

As the nation marks 65 years of self-government, it is not too late for Nigerian leaders to change and make democracy work for the people. Too much pain has been inflicted on Nigerians, and now is the time for Nigerian leaders to focus more on the Nigerian promise – notably what is standing in the way of realising that promise. At independence in 1960, there was a groundswell of euphoria and hope in the Nigerian project. It is sobering that, 65 years later, the anticipated gains of nationhood envisaged by the founding fathers are still being awaited. Not a few have marvelled at the exemplary character of Nigeria’s founding fathers: the simplicity of Tafawa Balewa, the selflessness of Ahmadu Bello, the nationalism of Nnamdi Azikiwe and the enduring vision of Obafemi Awolowo, all of which tower above their personal ambitions. Despite the sense of foreboding that the new multi-ethnic nation was unworkable, Nigerians envisioned a great and bountiful country.

Today, Nigeria is so greatly afflicted that some wonder at her prospects. The trouble with Nigeria, noted famed author and intellectual icon Chinua Achebe, is a failure of leadership. This failure has resulted in shattered hopes, broken promises, missed opportunities, and unfulfilled aspirations. A nation, it has been said, rises or falls on the quality of its leadership. Nigeria is a terrible victim of the poverty of good leadership, but most destructively, political leadership. Good leaders must show strength of conviction and character. What poor leadership in Nigeria has done is to create 200 to 250 million passive citizens who have no voice.

Every citizen must therefore share the blame, one way or the other, for the Nigerian condition. There has never been a shortage of speeches by Nigerian leaders in favour of good intentions to govern in the best interest of the country and its people. Over the years, Nigerians have heard, to the point of being deafened, that the government is committed to promoting good governance. The inaugural addresses of elected leaders and military coup plotters reveal uncanny similarities in promises. Yet, as the quality of successive leadership deteriorated, Nigeria has regressed in terms of the truly important yardsticks for measuring the progress of nations. All these notwithstanding, it is pointless to look back with regret and anger at lost opportunities.

Since the return to democracy in 1999, the political class has shown impetuous and irresponsible behaviour at the expense of the people. The looting and the waste going on in Nigeria in the name of governance have no parallel anywhere else and are responsible for breeding an angry and alienated citizenry that sees no dividend in this democracy. On all accounts, Nigeria at 65 is yet to fulfil her destiny. The current structure of Nigeria today, which is anything but federal, holds down the country, stunts its growth, truncates its progress and actually threatens its unity.

Indeed, Nigeria is positioned as a leader on the continent due to its great range of cultures, languages, and customs. Its abundant natural resources-crude oil in particular-have supported the economy and brought in large sums of money. Nigeria has become increasingly influential on the international scene as a result of its cultural exports, such as Nollywood and Afrobeats, which have gained widespread acclaim.

The giant is still mostly inactive in terms of development despite these advantages. Significant segments of the populace are still beset by unemployment, poverty, and economic inequality, and daily worries about infrastructure and security get worse. The 1960s independence held us the prospect of wealth, but it hasn’t materialised completely.

At 65, insecurity continues to be one of Nigeria’s biggest problems. While banditry, kidnapping, and inter-communal violence have expanded throughout the nation, the Northeast area is still struggling with insurgency, mostly from Boko Haram and ISWAP. In addition to resulting in fatalities, these security problems have also hampered business operations, uprooted thousands of people, and fostered terror.

The nation’s complicated security environment is made more tense by the escalating separatist movements in the South-East. Nigeria’s social and economic progress has been hampered by the incapacity to address these issues successfully.

As the nation celebrates its 65th independence anniversary, questions and more questions have cropped up. Has the country come of age? Is there a need for celebration? Are there hopes of a better tomorrow? So as the 65th anniversary continues, Nigerians look forward to the actualisation of the dreams and visions packaged by the founding fathers of this country. They also look forward to seeing a realistic improvement on the inherent inadequacies that have stood in the way of attaining peace, harmony, tranquillity, progress and unity, in the first instance, and the accomplishments of all the tasks that will make room for true attainment of a Nigerian nation.

Following recent attacks on communities in Kogi and Kwara States by bandits, Afenifere, the pan-Yoruba socio-political group, has called for urgent and practical reforms, including complete overhaul of intelligence-gathering strategies, accountability from security agencies or personnel who ignore intelligence reports, decisive action against illegal mining believed to be funding terrorism.

Jare Ajayi, National Publicity Secretary of Afenifere, in a press statement, decried the surge in banditry and violence in the North Central region, calling for Investigation and prosecution of suspected collaborators among locals and security personnel, temporary movement restrictions (as in Kwara) must be backed by long-term security solutions, enhanced aerial and land surveillance using kinetic and non-kinetic methods, Immediate rollout of State Police and greater use of local security structures, Increase in security manpower and modern equipment deployment, speedier trials for crimes related to insecurity, and Broader welfare reforms to address root causes of unrest.

While acknowledging President Tinubu’s Independence Day address promising stronger action on insecurity, the Pan-Yoruba organisation, warned that the situation posed a growing threat to the South-West and other parts of the Country.

Ajayi stated, ‘These are part of a wider agenda by terrorists, territorial expansionists, and anti-state actors to destabilize Nigeria and create illegitimate chiefdoms to the detriment of indigenous populations. The sacking of communities in Kogi, Kwara, and other Middle Belt areas are grim reminders that terrorism is advancing toward the South West.

‘These are not just criminal elements looking for ransom. Their operations, weapons, and tactics point to powerful sponsorship, both locally and internationally. Kwara, known as the ‘State of Harmony’, has recently witnessed violent incursions, resulting in the loss of lives, destruction of property, and severe disruption to socio-economic activities.’

The sophistication of the attackers, Ajayi pointed out ‘suggests they are beyond herdsmen or bandits seeking pasture. The type of weapons they use, the derring-do manner with which they attack, and the intensity of the damage they inflict show clear evidence of serious backers. These could include so-called illegal miners and powerful interest groups,’ he said. He also cautioned that those enabling or supporting the attackers should remember they are not immune to the chaos they are helping to unleash.

‘What is happening in Afghanistan today and what has been happening in Libya since the murder of Muammar Gaddafi should serve as clear warnings. When a country is destabilized, no one is safe – not even the sponsors’, he added.

Ajayi referenced the ongoing human rights crisis under the Taliban regime, noting that over 70 decrees had been passed in Afghanistan since 2021, many of which severely restrict the rights of women and girls.

The organisation however recommended deployment of high-capacity, well-constructed boats for public use, strict enforcement of water transport safety regulations, provision of buses and taxis to reduce reliance on risky water travel, exploration of rail line development to improve land transport, and lroactive flood prevention and stronger emergency response infrastructure.

Ajayi emphasised the need to ‘reign in the terror in human beings’ and called on both the government and the public to nurture the values of compassion and humanity. Government must find ways to tame the brutality in society and encourage citizens to embrace the good in them. Our survival depends on it.’

Afenifere however extended condolences to victims of recent boat mishaps and floods in Kogi and Niger States, urging both State Governments to implement preventive measures.

With over six hotels, a few more in the pipeline and stylish restaurants, Joel Ogunnaike Street in GRA Ikeja, Lagos, is now a melting pot for hospitality offerings.

Yet, on that stretch of street that plays host to some top global hotel brands, The Safron Hotel still stands tall.

Despite the fast-rising skyline of the exclusive GRA neighbourhood, the 54-room boutique hotel is very conspicuous.

Since its opening on May 21, 2021, Saffron Hotel has pursued and improved on its personalised offerings, leaving the guests with home-away-from-home experiences, boosted by world-class leisure facilities.

Three years down the line, the boutique hotel has carved a niche for itself in its specialty; personal services, which has also sustained its position as a big player on Joel Ogunnaike Street’s hospitality hub.

The unique thing about the hotel is that it was opened on schedule, while the majority of the work was done during the COVID-19 pandemic in 2020.

As Oluwatobiloba Fatusin, business development manager of the hotel, puts it, ‘It was a year that was very slow. It was like a setback for some people. That was when this building was completed.

‘Then, people were scared, people were dying, it was very scary, but the owner of this hotel did not care.

‘There is a saying that you have to be almost insane to achieve great success. You have to have a certain level of madness to succeed,’ she noted.

For her, it was the courage of the chairman of the hotel, despite the huge risk posed by the pandemic then that saw to the success of the hotel today.

Reviewing the hotel facilities, Oluwatobiloba, a graduate of University of Houston, United States of America, said that The Safron Hotel is truly boutique with 54 exclusively furnished rooms and suites, across four categories: classic, deluxe room, superior, executive and a penthouse.

Yet, she insisted that the hotel’s beautiful lobby is an experience on its own, amid adjoining front office and a bar.

She noted that the bar, which offers cocktails, mocktails, live football match screenings, morning coffee among other entertainment, is a boot to the beautiful lobby.

‘Here, you can bond with your family and with your significant other. We have pastries as well. We make some of the best smoothies and chicken pies in GRA Ikeja,’ she noted.

The lobby offerings continue with quick business meetings, as guests can work with their laptops with high-top chairs provided.

Moving further down the hotel hallway, entertainment is heightened with a grand piano.

‘This is one of our best-selling points because people book photo shoots at The Safran Hotel when they are getting married because of that piano and the beautiful ambience.

‘When you open the piano, it gives this classy and very vintage look. Women that are getting married like to wear their wedding dresses and have their husbands behind the piano while they pose’.

Another exciting offering, according to her, is the hotel’s restaurant, which can seat 40 guests at a time. It is open for buffets, in-dining and a la carte menu as well.

She emphasized on the buffet services, saying that it is for guests that are celebrating something special: birthday, valentine, among others, usually for a minimum of 25 people.

For the in-dining and a la carte, guests can walk in with their ticket cards or make reservations.

The Saffron experience continues at the poolside, which is known for its romantic proposals.

‘Yes. In our poolside, we have bonded so many people together. Many women have said, ‘I do,’ she said, while explaining that it was recently renovated with a bit more space.

Also, three years down the line, the hotel has some new additions to its facilities.

One of the facilities is the Rooftop offering, with a new elevator that takes guests directly to the rooftop.

‘Now the in-house elevator will be strictly for only in-house guests, which is going to improve our security.

‘So, if you are going to the rooftop or to the Whisky Hall for an event, there is an external elevator that you can take. The in-house guests going to the restaurant or the bar use the hotel elevator.

‘It gives our guests an increased sense of security, knowing that external people cannot have access to them,’ she explained.

Despite being a boutique hotel, The Safron is also home for business travellers and corporate engagements with its world-class conference facilities.

Its conference room at the bottom floor seats 30 people, there is a 10-seater boardroom for executive meetings, while the Rooftop and Whisky Hall cater to a larger number of people.

The Whisky Hall is a 60-seater and the hotel’s largest hall for events like weddings, while the Rooftop offers options with its lower deck and upper decks.

Though the lower deck seats 50 guests, Oluwatobiloba insisted that the excitement is heightened in the 40-seater upper deck, which offers a 360 view of GRA Ikeja and glam ambience at night.

‘It is like a bird’s eye view of Ikeja. Again, if you want to do a romantic proposal, that upper deck is also the most suitable for that and for baby showers, bridal showers, and birthday parties’.

More also, and following repeated requests by the guests, the hotel plans to launch a spa offering soon.

Health and fitness buffs are taken care of with the just renovated gym offering among other things strength training and aerobics classes, all handled by an instructor, with over two decades experience in personal training, from the nearby Police College Ikeja.

Beyond the services and facilities, Oluwatobiloba offers more reasons to experience the boutique hotel.

‘What we sell here is privacy and security,’ she insisted.

‘It is very hard for people to get in if they are not authorised or don’t have a reason to be here’.

The emphasis on guests’ privacy and security, according to her, is a reason many are returning their visits to the hotel.

‘It is not easy to tell who is here when they are here. That is why a lot of people come to The Safron Hotel. You can be here and people won’t know. You can be well-known and they still won’t know you are here. It is a home to governors, diplomats, foreign leaders.

‘You can even have a governor here right now and you will have no clue,’ she noted.

In her conclusion, Oluwatobiloba, who left a plum job in the United States of America to take a position at The Safron Hotel, assured that lack of maintenance, which is usually a big challenge in the hospitality sector here, is sorted out in the boutique hotel.

She is bringing to bear her experience as a supervisor at a USA management company, in her work at The Safron Hotel.

Also, her experience in other companies where she worked sometimes 8-10 hours a day with 30 minutes break, and sometimes 88 hours every two weeks, all combined to equip her for her current role in Nigeria.

‘So, all these harsh conditions were training me for Nigeria,’ she said.

With competences across property maintenance, service, and a combination of business skills, marketing and sales, Oluwatobiloba assured that the hotel is in good hands, and poised for more impact years to come in the Nigerian hospitality industry.

Adams Oshiomhole, Former Nigeria Labour Congress (NLC) president and senator, has faulted the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) for escalating its dispute with Dangote Refinery into a nationwide shutdown of oil facilities, describing the action as hasty and unfair to other workers.

Speaking in an interview with Arise Television on Friday, Oshiomhole said unions must defend workers without inflicting broader economic hardship.

‘I think that in seeking to protect a particular set of workers, you do not then risk the jobs of several other workers. When you are pursuing a dispute, the tools you deploy must be such that they do not undermine other people’s jobs,’ he said. He criticised the oil union’s decision to halt operations at facilities of the Nigerian National Petroleum Company Limited (NNPC) and other firms over alleged anti-labour practices at Dangote Refinery.

‘I suddenly witnessed long queues at filling stations and people came to me to ask, ‘why are we not at work today, what has happened to the oil industry?’ And the reason was that PENGASSAN had decided that NNPC be shut down, several other companies shut down, all because of a problem in one refinery,’ Oshiomhole said. Drawing from his time as NLC president, he stressed that disputes should be confined to the employer in question.

‘We had a big battle with Union Bank of Nigeria over their policy on married couples working together. But even when we had the capacity to shut down all the banks, we didn’t,’ he recalled.

Oshiomhole also cautioned against rushing into strikes without weighing their broader impact. ‘In pursuing war, you have to recognise that the tools you deploy must not hurt innocent people, like the tomato sellers who cannot get fuel to move their goods because there is a quarrel between one refinery and one union,’ he said.

While affirming the constitutional right to unionise, he urged balance and responsibility from both employers and workers. He added that private investors like Dangote should be allowed time to stabilise before being subjected to intense labour action. ‘An employer has to exist, mature and be strong enough to guarantee good-paying jobs. If you cripple a business before it even finds its feet, you are also destroying the jobs you claim to protect,’ Oshiomhole said.

The Nigerian Export Promotion Council (NEPC), says Nigeria’s non-oil export has risen to $1.791 billion in the first quarter, 2025.

The Chief Executive Officer of the council, Nonye Ayeni, said this at a one-day sensitisation exercise organised by the Council for Sesame seed farmers, on Thursday in Dutse, Jigawa.

The theme of the workshop is: ‘A Tactical Involvement for Enhancing the Production Capacity of Sesame Seed in Jigawa State.’

Represented by Okany Chika Sylvia, Chief Trade Promotion Officer, NEPC, Ayeni said the export value represents 24.75 per cent increase compared to 19.59 per cent for the first quarter, 2024.

She said non-oil performance 2024, indicated that sesame seed ranked number three out of the top 20 export products, amounting to 337.8258 metric tonnes with 4.63 per cent of the quantity exported.

‘Nigeria can obtain a significant share in the enormous forex from sesame seed export in the global market,’ she said.

Ayeni stressed the need to enhance the nation’s sesame yields and production, to maximise the export potential along the value chain.

In a presentation, Sylvia said export of Nigeria’s sesame seed to Japan between 2019 and 2021, was allegedly threatened due to the discovery of excess pesticide residue and salmonella.

‘The offshoot this discovery was raised by Japan Oil and Fat Importers and Exporters Association (JOFIEA) on 5th August, 2022.

‘Relatively, the Japanese Authorities allegedly confirmed that a high dose of pesticide residue found in Sesame Seed exported to Japan between 2019-2021 was 1.9 times in excess of Maximum Residue Limit (MRL),’ she said.

Sylvia highlighted that some of the challenges related to sesame seed export include poor compliance with sanitary and phytosanitary requirements, cross contamination during handling process, and lack of proper documentation by exporters.

The NEPC official highlighted some of the solutions to include addressing contaminant issue from the farm gate to the market, comprehensive approach and leveraging training of farmers on Good Agricultural Practices (GAP).

‘The introduction of technology driven traceability system, tackling logistic hurdles, packaging and product differentiation will also curtail the situation.

‘Quality testing, deployment of modern technology, awareness campaign as well as establishment of good storage system is vital,’ she said.

Sylvia advocated establishment of clusters within medium term frame, stressing that the council would engage relevant stakeholders to ensure zero rejection of agricultural exports, especially sesame seed.

‘We believe that through strategic engagement, partnerships Nigeria’s sesame seed export will be boosted and competitively repositioned across major destination markets.’

Mr Abdulkadir Aliyu, NEPC Coordinator in Jigawa, said the forum aimed at increasing Nigeria’s sesame seed output.

He said the overall objectives was to help the country tap into the growing opportunities in the global market, particularly in foreign exchange earnings.

‘This is a valuable opportunity to gain insights and contribute meaningfully to the development of this important sector,’ he said.

One of the participants, Balaraba Ibrahim also called for the establishment of aggregation centres for sesame seed processing in Jigawa.

She expressed concern over the level of exploitation being faced by sesame farmers, who lack the capacity to process the produce, adding the trend forced them to dispose it at cheaper prices.

Another participant, Magaji Rabi’u advised farmers and residents of the state to explore export opportunities through the NEPC.

Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has called on the next generation of Nigerian leaders to embrace credibility as their most valuable asset, emphasising that integrity, transparency, and trust are essential not only in central banking but in leadership at all levels.

Speaking at the maiden edition of the CBN Governor’s Lecture Series hosted by the Lagos Business School (LBS) on Friday, Cardoso delivered a thought-provoking address titled ‘Leadership Principles for the Next Generation Leadership in Monetary Policy and Nation Building, where he laid out a vision for a new cadre of leaders rooted in discipline, innovation, and inclusion.

‘In central banking, as in life, credibility is the most valuable currency,’ Cardoso declared. ‘Tomorrow’s leaders must be transparent, data-driven, and grounded in evidence. That’s why the CBN is investing in deep research partnerships and improved policy communication.’

Highlighting the digital transformation sweeping across financial systems globally, the governor stressed the inevitability of a digital future for Nigeria. He pointed to the CBN’s regulatory sandbox and its evolving digital payments framework as tools being deployed to position Nigeria for that future. ‘Payments, credit, savings, and investment are being redefined by fintech and digital platforms,’ he said. ‘The future is digital, and we are preparing for it.’

Cardoso reiterated the central role of leadership in nation-building, asserting that price stability, while essential, must be complemented by broader economic inclusion and diversification. ‘We must build a stable macroeconomic environment that fosters productivity and opportunity,’ he stated.

The launch of the CBN Governor’s Lecture Series itself, he explained, is a step towards deepening thought leadership through open dialogue. ‘We initiated this lecture series to build a community of inquiry, co-create ideas, and pass knowledge across generations,’ Cardoso noted.

He emphasised that monetary policy goes beyond technical metrics like interest rates or inflation targets. Rather, it is a tool to build trust, ensure economic stability, and inspire the collective confidence of citizens and investors alike. ‘Our aim is to build strong institutions, resilient economies, and sustained prosperity, all anchored in credible leadership that can set vision, make hard decisions, and regulate with integrity,’ he said. Addressing the young audience directly, Cardoso acknowledged their creativity, connectivity, and potential to lead transformative change. ‘You are the most mobile, most connected, and most creative generation the world has ever seen,’ he said. ‘Perseverance, though it may sound cliché, is your greatest ally. Stay the course. Lean into the challenges with creativity and courage. Disruption often creates the conditions for the greatest breakthroughs.’

According to him, stability is not an end in itself, but the foundation for inclusive growth and national renewal. He underscored three core values he believes should define the next generation of leadership: credibility, innovation, and inclusion.

‘What Nigeria needs is leadership that is data-driven yet people-centered, courageous yet humble, visionary yet accountable leadership determined to build not just for today, but for generations unborn,’ he urged.

During a fireside chat at the event, Cardoso shared key reforms already carried out by the apex bank, including the adoption of a B-matching electronic system in the foreign exchange market to improve transparency. ‘Everyone sees the same rates now. It’s brought us closer to a perfect market,’ he said. He also revealed the CBN’s push toward becoming a fully paperless institution by digitising approvals and internal processes, part of a broader commitment to modernisation.

He emphasised that macroeconomic stability remains the bedrock of national development. ‘Without stability, everything else including job creation, entrepreneurship, investment, falls apart. We’ve achieved stability, and we will defend it fiercely,’ he said. According to Cardoso, increased investor confidence is already beginning to reflect in key growth indicators, including Nigeria’s recent quarterly GDP numbers.

In her welcome remarks, Olayinka David-West, Dean of Lagos Business School, described the inaugural lecture as a pivotal moment for collaboration between academia, public institutions, and the private sector. ‘This stage has long served as a platform to inform, educate, and engage,’ she said. ‘Today, we are proud to host Governor Olayemi Cardoso as we inaugurate the CBN Governor’s Lecture Series, a bold step toward fostering accountability, transparency, and deeper public understanding of monetary policy.’

David-West highlighted the alignment between the lecture series and LBS’s mission to develop responsible leaders and contribute to Africa’s economic transformation through thought leadership.

The lecture series forms part of Governor Cardoso’s broader strategy to promote knowledge acceleration and public engagement around Nigeria’s financial systems and economic direction. It also reinforces the CBN’s ongoing commitment to the principles of accountability, compliance, and transparency, values that Cardoso and his team pledged to uphold during their confirmation by the Nigerian Senate two years ago.

In closing, Cardoso reminded the audience that Nigeria’s economic story is still unfolding and that the pen, or rather the digital device, is now in the hands of the next generation.

If you are involved in Nigeria’s Commercial and Industrial (CandI) sectors, you understand the challenges businesses face. In a business environment where resilience is crucial, the unreliable national power grid and the rising cost of diesel are not merely inconveniences; they pose serious threats to the sustainability and growth of businesses. For players in these sectors, from manufacturing to logistics, the reality is apparent. You often pay more for inconsistent power, incurring hidden costs such as downtime, generator maintenance, and fuel logistics. This new reality should force a fundamental rethink of your energy strategy.

The Business Pulse: Key Drivers for Energy Strategy

Our recent public poll among business stakeholders highlighted their top concerns regarding their energy needs, revealing the clear motivations driving a shift towards a steady energy supply that allows for a more sustainable business model. A resounding 39% of respondents cited the ongoing need for a consistent and uninterrupted energy supply, particularly in regions with high grid costs and frequent outages. Meanwhile, 33% emphasized the importance of affordability and long-term savings in their transition to sustainable solutions, and 28% identified the growing pressure to meet global ESG standards as a significant priority.

Beyond the Bill: The True Cost of Unreliable Power

The financial burden of unstable power supply extends far beyond the direct costs of electricity bills and diesel. Nigerian businesses are facing a confluence of economic pressures, including a stubbornly high inflation rate, macroeconomic instability, and increasing compliance costs. While the National Bureau of Statistics (NBS) reports that the annual inflation rate had eased from 33.4% in July 2024 to 21.88% in July this year, this rate remains considerably high and continues to erode the purchasing power of businesses and consumers. For energy-intensive sectors such as agro-processing, manufacturing, and large-scale warehousing, these factors erode profit margins and make long-term financial planning more challenging than ever. As Idris Muhammed, West Africa Commercial Director, Starsight Energy, stated, ‘The cumulative effect of these challenges is that the old way of doing business is simply not sustainable. We are seeing an energy crisis that is not just a problem, but a catalyst for change.’

Data illustrates this pain point with stark clarity. According to the Nigerian Electricity Regulatory Commission (NERC), recent tariff adjustments have resulted in a significant increase for Band A customers. For a typical CandI company, consuming around 950,000 kWh per month, this translates into a staggering monthly increase that can add millions to operational expenses. Furthermore, the average price of diesel has surged by approximately 29.72% in the past year, with prices reaching an average of ?1,789.45 per litre in July 2025, according to the National Bureau of Statistics. The cumulative effect of these costs is an unviable business model.

A Multi-Faceted Approach to Energy Security

The opportunity to escape this vicious cycle is clear, but the solution requires more than just a single alternative. The key is a sophisticated, multi-faceted approach to energy management. As Idris Muhammed noted, ‘We have seen that the best energy plans are now comprehensive. By combining multiple technologies, at Starsight Energy, we provide our clients with an integrated solution that gives them the power, security, and cost predictability they need to thrive in this new reality.’

Power-as-a-Service (PaaS): The Modern Business Model

One of our most transformative solutions is the Power-as-a-Service (PaaS) model. This approach fundamentally shifts the dynamic of energy consumption by removing the burden of ownership from the client. Under the Starsight Energy PaaS model, the service provider assumes responsibility for financing, installation, operation, and maintenance of the energy system. The client simply pays a fixed, monthly fee freeing up capital and internal resources for their core business. This model offers a predictable and cost-effective energy solution, enabling businesses to regain control of their budgets and focus on innovation and growth.

To achieve proper energy security, the solution lies in a model that guarantees resilience and an uninterrupted supply. This is where the Power-as-a-Service (PaaS) model could be a viable approach. This involves intelligently combining multiple power sources, such as solar, battery storage, and a reliable backup like the national grid or a generator, into a single, integrated system. This ensures that a business is never reliant on a single source of power. For example, the system can draw from solar during the day, switch to battery storage at night or during grid outages and use a generator only as a last resort. ‘The key to true reliability isn’t a bigger generator; it’s a smarter system,’ said Idris Muhammed. ‘Our model provides the peace of mind that comes from knowing your operations are protected against any single point of failure.’ This approach maximises cost savings while eliminating the risk of downtime, providing a powerful hedge against a volatile energy landscape.

Partnering for a Resilient Future

For project sponsors and owners alike, the opportunity to escape the cycle of unreliable and costly power is clear. The key is to move beyond the traditional models and engage with an experienced energy partner to explore a comprehensive solution tailored to their specific operational and strategic needs. This is where Starsight Energy comes in, providing the crucial first step toward building a more resilient, sustainable, and profitable future. By adopting advanced models like the Power-as-a-Service (PaaS) model, businesses can not only stabilise their operations but also unlock new avenues for growth and competitiveness. This is more than a simple transaction; it’s a strategic partnership in building a future where your business is insulated from volatility, powered by innovation, and positioned for enduring success.

In Nigeria’s unraveling business setting, BusinessDay Television (BDTV) has established a reputation beyond just being referred to as a news channel. It has become a forum where professionals, entrepreneurs, and industry stakeholders discuss real issues and propose tangible strategies for confronting the intricacies of business. These entrepreneur-based programs have also helped BDTV enhance financial literacy and bring to light the delicate and subtle balance between ‘pole of career stability’ and ‘pole of entrepreneurial ambition.’

One of their more recent episodes titled, ‘Passion to Profit: Balancing Work and Entrepreneurship,’ was yet another instance of the above. This program convened an assorted panel representing various industries who provided diverse views on how one manages the tension between holding a nine-to-five job and being active in entrepreneurial undertakings. One that certainly stood out among the contributors to the discussion was Peter Michael Ajassi, an inspired travel entrepreneur, global business strategist, and founder of Fly Connect 102.

Peter Michael started by talking about how tricky it is to juggle a regular job with trying to build your own business. He believes that both a full-time job and a side project are serious commitments, not just something you do casually. They’re complicated and need careful planning, dedication, and ongoing upkeep.

He put it this way: ‘A regular job and side hustles are complex ideas, and like anything complex, they need extra attention and focus to keep them going strong.’

For Michael, it all starts with changing how you think. Instead of seeing your job as something that gets in the way of your entrepreneurial dreams, he encourages professionals to think of it as a way to invest in their future. ‘Realize that your current job is paying for your future. The knowledge and experience you get there are exactly what you need to succeed with your side hustle,’ he stressed.

Essentially, Peter sees a full-time career as a way to support yourself financially and learn the skills you need to succeed as an entrepreneur. By using the same organization and focus that helps you succeed at work, you can build a stable and sustainable business of your own.

Michael also cautioned that the typical reaction that people have, which is giving up their nine-to-five job when they start a side business, should be delayed. The point he put across was very clear ‘it is all about timing’. He went on to explain that the income from the business and the profit margins are to be clearly laid out before the decision to be made should be the one of turning full-time in business.

‘It is very necessary not to pull out of your 9-5 right away when the business starts growing,’ he said. ‘First, your cash flow and profit margins have to be well defined. Know the workings of your cash flow and come up with ideas on how your business can be a source of creating good experiences that will be a tool for increasing your profit margin.’

He explained the requirement for reflection a lot and even called upon entrepreneurs to consider their business index-the strategies, practices, and models that influence the profitability of the business repeatedly.

‘Keep thinking, redefining, realigning, and identifying,’ he said, showing that this kind of continual checking is what separates the ventures that survive from those that only last for a while.

Michael’s words were seconded by Ms. Nkechi Alade, another member on the panel, who warned of the dangers of premature departure from mainstream jobs. According to Alade, being a full-time business owner is not suited for everyone, and decisions to quit good jobs must never be made out of emotion.

She explained that entrepreneurship demands some mental preparation-a perspective that tolerates the pros and cons of business realities. Without this self-discipline, she cautioned, professionals risk entering entrepreneurial frontiers with unrealistic expectations, only to be disappointed when problems arise.

Both Michael and Alade, in concert, reiterated the strikingly similar conclusion that entrepreneurs must aim for excellence rather than perfection. Excellence, they argued, is a product of persistent practice and incremental improvement, whereas perfection is too frequently an unreachable ideal that holds one back.

Peter Michael highlighted a contemporary reality that goes beyond cash flow and balance management: the digital marketplace. He maintained that having a strong online presence is now essential for Gen Z and millennial business owners. ‘You need just the right amount of noise to set your brand apart,’ he said. ‘Remember that you are the brand, so always apply your positive traits to the brand.’ Visibility is power to Michael. A strong digital footprint can make the difference between an entrepreneur standing out and remaining unknown in a world of intense competition. He suggested that business owners view themselves as brand ambassadors, bringing their own authenticity and credibility to the way they promote their companies.

The programme successfully shed light on the complex nature of striking a balance between work and entrepreneurship by bringing together a diverse panel. Alade’s cautions against making snap decisions were reinforced by Michael’s observations on timing and cash flow. Other panellists also emphasised resilience, value creation, and self-awareness. Their combined voices provided a thorough overview of what it takes to succeed as a professional entrepreneur in modern-day Nigeria.

At the same time, entrepreneurship is fun, but it is not an easy way; it is a discipline that requires patience, structure, and a strategy. Peter Michael beautifully captured the wisdom professionals must carry with them: ‘your job today is funding your future’.

A career should not hamper entrepreneurship; rather, it can become an enabling factor for entrepreneurship to flourish. With patience, financial clarity, and the willingness to keep realigning, professionals can turn their passion into profit without compromising their stability.