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Nigeria has taken a step towards decarbonising its ports with a new partnership between APM Terminals and the Nigerian Ports Authority (NPA) to chart a roadmap for electrifying container freight.

The agreement, signed on Monday at the Dutch Consulate in New York during the Global African Business Initiative, will see APM Terminals commit $60 million to fund the collaboration. Under the plan, Onne Port in Rivers State will become Nigeria’s first green port.

‘We believe Nigeria is ideally situated to lead West Africa’s transition to low-carbon logistics by electrifying its container transport sector,’ said Frederik Klinke, chief executive of APM Terminals Nigeria. He said that the country could leapfrog fossil-fuel infrastructure by adopting proven electric technologies, with a phased roadmap for container logistics already being designed.

Abubakar Dantsoho, managing director of the NPA, said the move would position Nigeria as a continental leader in sustainable port operations.

‘By this development, the Onne Port will be the first green port in Nigeria, thereby promoting the decarbonisation efforts within the transportation ecosystem,’ he said.

The MOU builds on a study presented by APM Terminals at the Decarbonising Infrastructure in Nigeria Summit in July, which concluded that electrified container freight could unlock private investment, create skilled jobs and deliver more reliable energy supply.

But the report stressed that coordination between public and private actors will be essential to make the transition work.

Jeethu Jose, managing director of the West Africa Container Terminal (WACT) in Onne, said the partnership was about long-term growth.

‘Our investments are for our shared future and for the people living in the region, and we look forward to driving this project with our stakeholders in the port industry.’

Premier Oiwoh, managing director and chief executive officer, Nigeria’s Interbank Settlement System (NIBSS), has announced plans to eliminate transfer fees on the NIBSS Instant Payment (NIP) platform in a bid to accelerate the country’s transition from cash-heavy transactions to a smart, digitally driven economy.

He disclosed this at the Globus Bank Fintech Summit 2025 in Lagos while delivering a keynote address themed ‘From Cashless to Smart Economies: Shaping the Next Frontier of Financial Innovation.’

‘By next year, we’ll be starting a program towards the complete elimination of the NIP fee, making it zero cost into a subscription model. The general idea is to promote innovation around it,’ Oiwoh said.

‘Our biggest competition is not fintechs or banks; it is cash on the streets. Eliminating fees will make digital payments more attractive to everyday Nigerians,’ he added.

According to Oiwoh, the future of Nigeria’s financial ecosystem hinges on strengthening national payment infrastructure, deepening interoperability, and building resilient systems that can withstand fraud, cyber threats, and operational failures. He noted that while India and China had deliberate national strategies to bring the unbanked into the financial system, Nigeria still operates largely in silos. He called for a coordinated action plan led at the highest levels of government to drive true financial inclusion, stressing that opening bank accounts without ensuring economic inclusion is insufficient.

Oiwoh also praised the resilience of Nigeria’s regulators, particularly the Central Bank of Nigeria (CBN), for driving standards such as the adoption of ISO 20022 messaging, which will align Nigeria’s payment systems with global benchmarks. On the role of AFRIGO, Nigeria’s national card scheme, Oiwoh revealed that the platform has processed over N70 billion worth of transactions in 2025 alone, with over one million cards in circulation. He described Afrigo as the only card globally enabling instant credit on point-of-sale (POS) transactions, a feature that has driven strong adoption among merchants.

He further announced that the upcoming National Identity Management Commission (NIMC) multipurpose ID card will carry the Afrigo payment rail, ensuring that millions of Nigerians can access financial services directly through their national ID.

Touching on fraud and cybersecurity, the NIBSS boss urged banks and fintechs to invest more in robust monitoring systems, warning that insider collaboration remains one of the biggest threats to digital trust. He cited the NIBSS Hawk platform as a major tool that has already helped foil multiple fraud attempts across the industry.

‘We must never put profitability above compliance,’ Oiwoh cautioned. ‘One regulatory sanction or a single fraud incident can wipe out years of profits. Building resilient, trusted systems is non-negotiable if we want Nigerians to embrace digital payments.’

He also emphasised the need for stronger collaboration among banks, fintechs, and payment service providers, noting that true adoption will come when solutions compete not against each other, but against the dominance of cash. With government-backed initiatives such as geo-tagging, demo days for fintechs, and innovative payment methods including QR, NFC, and biometric solutions, Oiwoh expressed optimism that Nigeria is on the cusp of becoming a smart economy powered by digital payments.

‘Payments are not the destination,’ he concluded, ‘but the foundation for building a vibrant digital economy where innovation, inclusion, and trust drive prosperity.’

If you are a leader in a Nigerian organisation, you have possibly felt the pressure to stay relevant and to succeed. The race for efficiency, the demand for innovation, and the relentless pace of global competition all add pressure to the way and manner in which businesses thrive in Nigeria. Certainly, you have also heard of the buzzword: Artificial Intelligence. But what if I told you that AI is even far more than a trendy tech term? It’s the most powerful lever we have in the world today that helps to achieve true organisational performance in this new era we have found ourselves in – the Tech Revolution.

Data doesn’t lie, as can be seen from recent reports, indicating that over 70 percent of Nigerians are already using generative AI tools, and a staggering 93 percent of businesses are adopting AI technologies. The train has left the station. The question for Nigerian leaders is no longer if you should get on board, but how you can use AI tools to drive your business to its desired destination of peak performance.

‘The objective is to automate repetitive operations so that our team may focus on more creative, strategic, and human-centred work. It is essential to create a robust digital economy in Nigeria.’

The Nigerian reality: A landscape ripe for AI

Let’s be honest. We have particular challenges. Nigeria faces significant obstacles to the deployment of AI, including unstable power, infrastructure limitations, and a shifting legal environment. However, we lose sight of our unique advantages when we only focus on these challenges. Our government is moving ahead with ambitious plans like the Nigerian National AI Strategy, our fintech sector is among the very best in the world, and our teeming populace is very young, dynamic, and tech-savvy.

This is the moment. AI aims to enhance our distinct human spirit rather than replace it. The objective is to automate repetitive operations so that our team may focus on more creative, strategic, and human-centred work. It is essential to create a robust digital economy in Nigeria.

From manual grind to automated growth

What does this change actually look like in real life? From abstract to actionable, let’s go. Taking the robot out of the human by relieving your team of time-consuming, repetitive duties is frequently the first step in using AI solutions.

Imagine your HR department using solutions like SeamlessHR to automate payroll, or your finance staff no longer drowning in manual invoicing. This dream is not a pipe dream. For example, Cancel.ai reduces turnaround time by more than 50 percent for Nigerian financial institutions involved in processing high transaction volumes. The effect is evident: automation has resulted in considerable time and cost reductions for 75 percent of Nigerian enterprises.

The first step towards productivity driven by AI is this. It’s about changing roles, not losing your job. It’s about increasing the efficiency, effectiveness, productivity and capability of your team.

Data-driven decision-making: The new superpower

The table above highlights a critical shift. The most significant advantage of AI might be its power to turn data from a buried asset into your most strategic counsel. This is where we move from efficiency to excellence.

Across our key sectors, AI in finance/agriculture/healthcare/education is proving its worth:

Finance: Companies like Carbon and CapitalSage use AI for real-time fraud detection and smarter credit scoring, expanding financial inclusion.

Agriculture: Smallholder farmers are using AI for yield prediction, leading to crop improvement of up to 40 percent.

Healthcare: AI models are helping to halve blood delivery times and combat the scourge of counterfeit drugs.

Education: AI-enabled edtech platforms are boosting student test scores by an average of 32 percent.

Case study 1:

AI-powered SaaS solutions are intended to identify and reduce internal hazards in businesses. Across HR, legal, and compliance activities, its platform offers intelligent compliance management, real-time risk detection, and insights into employee engagement. While Risk-HR employs AI to evaluate ethics and integrity in hiring and workforce management, the E-Commander application assists organisations in preventing and managing human hazards at scale. Through early risk identification, organisational integrity protection, and resilience enhancement, these solutions provide immediate return on investment. Kreeno Consortium helps Nigerian companies implement cutting-edge AI risk management solutions that improve security, compliance, and trust. To learn more about this, send an email to [email protected].

Case study 2: GROK as a tool for peak performance

Grok, developed by xAI, is built for peak performance in AI-assisted tasks, offering real-time data access for up-to-date insights, superior reasoning for complex problem-solving, and reliable high-volume performance even under heavy usage. It personalises responses by adapting to user preferences, boosting efficiency in specialised domains like creative writing or strategic planning. With multimodal capabilities including image analysis, coding, and interdisciplinary tasks, Grok seamlessly supports diverse professional needs. Its chain-of-thought architecture ensures logical, step-by-step solutions, making it especially powerful for STEM and enterprise applications. By combining adaptability, speed, and accuracy, Grok empowers users to optimise workflows, research, and decision-making. Available to SuperGrok and Premium+ subscribers, Grok positions itself as a top-tier AI tool for developers, researchers, and professionals aiming for maximum output quality.

This is the essence of peak performance with AI – making smarter, faster, and more impactful decisions that were previously impossible.

Your roadmap to leveraging AI tools

Feeling inspired but wondering, ‘How do I start?’ The journey to business automation in Nigeria doesn’t have to be daunting. Here’s a simple, phased approach:

1. Diagnose and prioritise: Audit your operations. Where are the biggest bottlenecks? Which tasks are highly repetitive? Start there.

2. Get your data house in order: AI runs on data. Begin by ensuring your data is clean, structured, and secure, with an eye on compliance with the Nigeria Data Protection Act (NDPA).

3. Start with a pilot project: Don’t boil the ocean. Choose one department or a single process for your first AI initiative. A small win builds confidence and provides proof of concept.

4. Invest in your people: The future of work in Nigeria is human-AI collaboration. Partner with training hubs like AI Saturdays Lagos to upskill your team. Encourage a culture of education rather than fear.

5. Pick the correct partners: You don’t need to perform all the work yourself. Work together with reputable AI companies like Zoho or regional experts who are aware of our situation, like Zummit Africa.

Taking responsibility for your steps

We must accept accountability along with this authority. The use of AI responsibly cannot be compromised. This entails:

Being ethical: Make sure your AI systems are impartial, equitable, and subject to human supervision. Preserve privacy by following data privacy regulations and being open and honest with clients about the use of their data.

Emphasising augmentation: Don’t just replace your staff; use AI to elevate them. Make a commitment to redeploying and retraining talent.

The future is now

Artificial intelligence for business in Nigeria is not a distant future; it is the present-day key to unlocking unprecedented growth, innovation, and competitiveness. The tools are here, the talent is emerging, and the success? stories are already being written.

The call to action for every Nigerian leader is clear. Stop viewing AI as a complex IT project. Start seeing it as a strategic partner for achieving peak performance with AI. Let’s automate the mundane, analyse the profound, and empower our people to do what they do best via innovate, connect, and lead. Let’s build a future where Nigerian organisations aren’t just participants in the global economy but front-runners.

An unconfirmed number of people have died in a tanker fire accident that broke out around 1am on Friday along the Abeokuta-Sagamu Expressway in Ogun State.

Babatunde Akinbiyi, spokesperson for the Ogun State Traffic Compliance and Enforcement Agency (TRACE), said the incident occurred after a 33,000-litre petrol tanker overturned due to excessive speeding and spilt its contents on the highway. The impact of the crash triggered a fire that spread to nearby vehicles and electric poles, destroying a truck, a tow vehicle, and a power cable supplying electricity to Mowe and surrounding communities. ‘Though the casualty figures cannot be ascertained presently, rescue and emergency services made up of TRACE, Ogun State and Nestlé PLC Fire Service, FRSC, and the Police are still on the ground to restore normalcy and orderliness after quenching the fire and carrying out the decantation process,’ Akinbiyi said.

He added that traffic in the area had been diverted to a single lane as responders worked at the scene, urging motorists to remain calm and cooperate with diversions and rerouting put in place by TRACE, the police, fire service, FRSC, Amotekun, and the NSCDC. ‘Any inconveniences as a result of this unfortunate incident are highly regretted,’ he said.

Nigeria marks 65 years of independence with a health system once celebrated as a beacon of modern medicine now drained of the very healers needed to keep it alive. Citizens are left to navigate a system that can’t even provide even the most basic care.

At independence, health institutions such as the University College Hospital (UCH) in Ibadan were proud examples for medical advancement, attracting patients from West Africa and beyond. However, that image is fading fast.

From primary healthcare centres to teaching hospitals, healthcare providers such as doctors, nurses, and specialists are leaving in droves. Over 15,000 nurses migrated to the UK in the last five years, while nearly 20,000 doctors exited the system between 2005 and 2024, according to the National Association of Resident Doctors. The result is that Nigeria now has just 2.9 doctors per 10,000 people, a fraction of the World Health Organization’s recommended 17 per 10,000.

The exodus reflects the rot that has long plagued the sector-dilapidated infrastructure, obsolete or absent equipment, poor welfare, and harsh working conditions. Primary healthcare centres, the backbone of care delivery, often lack electricity, clean water, and even essential medicines.

‘The health sector has retrogressed significantly. In the 60s, we had quality medical services that were affordable, and even free. A medical doctor on employment was given a car. What I see now is shocking,’ said Olayinka Oladimeji, former director, Primary Healthcare Systems Development.

Brian Deaver, chief executive officer of African Medical Centre of Excellence, put it more bluntly. ‘Nigeria will struggle to deliver healthcare for citizens if health professionals remain unappreciated and burned-out. If we want a system that heals, we must start by building environments where caregivers thrive,’ he told a BusinessDay health conference.

Experts argue that these deficiencies are symptoms of decades of underfunding, underinvestment and lack of political will from the very leaders who choose foreign healthcare, which costs the nation about $2 billion in annual losses.

According to Adetolu Ademujimi, technical advisor, Health Financing, APIN Public Health Initiatives, the loss of workforce is currently the biggest challenge, but the foundational challenge remains the funding structure.

According to him, the constitution gives the federal government more funds, while states and local governments with the largest population of healthcare needs take barely 20 percent and 18 percent respectively.

Experts believe this underfunding has created a system highly dependent on household spending, making healthcare more expensive for citizens and pushing millions into poverty.

Over 70 percent of healthcare costs are borne by patients, placing the country among the highest globally, and demonstrating government’s failure to achieve the Universal Health Coverage (UHC).

Health insurance coverage is crawling with barley 20 million Nigerians covered out of the estimated 220m citizens. Public health financing remains at around 5 percent of total expenditure, far below the 15 percent target.

Consequently, a 2024 World Bank report noted that health-related expenses pushed over one million Nigerians into poverty yearly. For millions, seeking care means deciding whether to buy drugs or pay school fees

The country has one of the world’s highest maternal mortality rates, as women delay antenatal visits or deliver at home to avoid fees. Patients with diabetes or hypertension ration drugs or abandon treatment to avoid catastrophic spending.

Only about two million indigent Nigerians have financial protection under the Basic Healthcare Provision Fund out of the over 83 million identified as vulnerable population.

Former President Olusegun Obasanjo, reflecting on the country’s healthcare last month, lamented the cost of care.

‘Our most critical challenges are access to quality and affordable health care for all. When I reflect on the Nigeria we envisioned at independence, and even more so during my years of service in government, health care was never meant to be a luxury. It was to be a fundamental right, accessible 365 days. This was what was envisaged for Nigeria. Yet, we know the truth,’ he said.

Not all gloom

But it’s not all gloom and doom. Nigeria has seen some growth in private healthcare and investment, having attracted more than $4.8b billion particularly in local pharmaceutical manufacturing, boosted by government policy incentives, according to the presidency. The cut in international aid is also forcing the government to rethink health financing, and deepen partnership with the private sector.

Furthermore, Nigeria’s disease surveillance capacity has improved with the Surveillance Outbreak Response Management and Analysis System and the establishment ofPublic Health Emergency Operations Centres. Laboratory infrastructure has also been upgraded, with advanced molecular technologies enabling quicker identification of pathogens. The country’s Joint External Evaluation score under International Health Regulations rose from 39 percent in 2017 to 54 percent in 2023, a sign of progress.

For Oladimeji, the low-hanging fruit lies in decentralising the system and revamping primary healthcare facilities for immediate impact.

Can you tell us about the work HortiNigeria Programme has done in Nigeria’s horticulture sector?

The initiative commenced in 2021 with the goal of strengthening Nigeria’s horticulture sector in four states – Kano, Kaduna, Ogun, and Oyo, focusing on key priority crops: okra, onions, pepper, and tomatoes.

Our focus is on increasing productivity and income for 60,000 smallholder farmers, including 40 percent women and 50 percent youth in the north.

We help improve market linkages, support climate-smart technologies, facilitate access to finance and investments, pilot innovative production systems for 2000 entrepreneurial farmers, such as protected horticulture and regional diversification in the south, while building a more enabling policy environment for the sector.

So far, we’ve trained over 76,237 smallholders and entrepreneurial farmers on good agronomic practices, increased yields in key crops by an average of 93 percent, and increased farmers’ incomes by over 205 percent.

We have also mobilized over pound 4.14 million in finance and investments, contributed to reducing post-harvest losses in key intervention areas to an average of 83 percent, and facilitated over 106 business-to-business linkages.

We’ve also co-developed the National Strategy for Sustainable Management of Tuta Absoluta, Nigeria’s tomato leafminer pest, with FMAFS, NIHORT, and NATPAN to safeguard national tomato production.

How has the programme impacted the country’s agricultural sector?

We’ve demonstrated that Nigeria’s horticulture sector can be both commercially viable and socially inclusive. Yields for tomatoes, peppers, onions, and okra have increased by 30-50 percent in our target areas.

We’ve established over 100 business linkages between farmer groups and buyers and helped agro-input dealers reach thousands of new customers with quality products through structured agribusiness clusters and hubs.

Our work is also feeding into policy dialogue – state ministries of agriculture and private associations are now referencing data from HortiNigeria to plan investments and align regulations, such as our weekly price index, which is strengthening the sector beyond the program’s direct beneficiaries.

We’ve helped close Nigeria’s estimated 13 million metric ton vegetable supply deficit by increasing productivity and reducing losses.

Post-harvest losses, previously as high as 50-60 percent, have been reduced in some program clusters to 17 percent, thanks to cold rooms, crates, market linkages and training.

By engaging NIRSAL and commercial banks, we’ve started to bridge the N440-N660 billion (pound 1.06-1.6 billion) horticulture finance gap, training banks to develop horticulture-specific loan products. This has catalyzed private sector participation in areas previously viewed as too risky.

We’ve also improved key policies such as the Tomato Policy, Seed Policy, Organic Agriculture Policy, and pushed for Credit Risk Guarantee increases (30?50 percent) for local plastic crate production to reduce post-harvest losses nationwide.

To what extent would you say the HortiNigeria Programme has contributed towards solving Nigeria’s food security problems?

HortiNigeria is not a silver bullet, but it has provided a model for boosting fresh vegetable production, reducing losses, and improving nutrition.

By expanding access to high-yielding seed varieties, introducing efficient irrigation, and connecting farmers to stable markets, we’re reducing dependence on imports and improving availability of nutrient-dense foods. Nigeria faces food inflation and supply shocks – in 2024, tomato prices rose 320 percent year-on-year.

By boosting production, improving the cold chain, and stabilizing supply, we’re directly improving the affordability and availability of vegetables.

Equally important, we’ve built skills and infrastructure that will outlast the project – such as agribusiness clusters and community field trainers. We have also built innovation hubs and business champions who will continue supplying farmers and developing the sector after the program ends.

Can you share any notable success stories from the program so far?

In Ogun and Oyo States, youth hubs piloted open cultivation systems and doubled yields within a season, creating new seedling and irrigation service businesses.

Also, notably recorded huge success in the regional diversification of onion production in the south. Currently, our young entrepreneurial farmers are growing onions in a large scale in the south, which has reduced over dependence on the north for supply.

Also, protected cultivation, greenhouse farming, has been included in the training curriculum at FUNAAB, which will increase youth participation in protected cultivation production systems.

In Kano and Kaduna, women processors trained by HortiNigeria adopted low-cost drying and packaging technologies, cutting post-harvest losses by 40 percent and doubling incomes in less than a year.

Our female business champions, such as SIMKAY foods, Beta Tomato, Mix Condiment, and Tomato Jos, are off-taking vegetables from our smallholder farmers and creating value, which is contributing to income and post-harvest management.

Nationwide, we have advocated for the use and adoption of plastic crates to replace raffia baskets, which have contributed to post-harvest losses experienced by farmers and contributed immensely to environmental health challenges in major markets, such as Mile12 in Lagos.

Our efforts have resulted in advocating for a CRG increment for plastic production from 30-50 percent, which is currently approved by the National Council of Agriculture and Food Security and fully implemented by our partner NIRSAL.

This will attract investment and increase the production and circulation of plastic crates in the sector and further reduce post-harvest losses.

We’ve also successfully piloted solar pump irrigation systems for entrepreneurial and smallholder farmers, particularly women.

This innovative initiative has significantly enhanced farm operations by providing a reliable and sustainable water source, thereby improving crop productivity.

Additionally, the adoption of solar-powered irrigation systems has played a pivotal role in mitigating the effects of climate change, offering farmers a resilient solution to irregular rainfall patterns and water scarcity.

What are the greatest threats to Nigeria’s horticulture sector, and how can it be fixed?

These are key standouts: climate variability and water scarcity, insecurity and logistics disruptions, weak policy and regulatory frameworks, land access and labour constraints, especially for women in the North and farmers in the South and pest and disease pressures like Tuta absoluta causing up to 80-100 percent yield losses.

Others are: high post-harvest losses due to weak cold chain infrastructure, limited access to finance, with a N440-N660 billion funding gap for the horticulture sector, and a weak digital farmer database for the horticulture sector.

We need sustained investment in irrigation, cold storage, and rural infrastructure; a stronger role for private-sector logistics; and predictable government policies that encourage investment.

Public-private partnerships, embedding eco-efficient pest management, introducing financial guarantees, and piloting protected farming systems to buffer against climate shocks like those piloted under HortiNigeria, show the way forward.

What were the strategies implemented by the programme to support farmers in reducing their post-harvest losses, and how did it measure their effectiveness?

We’ve installed solar-powered cold rooms and aggregation hubs with partners like Ecotutu, Soilless Farm Lab, and NIHORT, shifted farmers from raffia baskets to plastic crates with standardized designs, introduced on-farm training on harvesting, grading, and transport practices and developed market linkage contracts to shorten time-to-market and empower female business champions to process those vegetables to powder and puree.

Effectiveness is measured via baseline and follow-up loss assessments. In some program locations, post-harvest losses fell from >50 to ~17 percent in some locations, and income rose by over 200 percent. We also injected 33,000+ crates into the Mile 12 market to professionalize handling.

What are the opportunities in the Nigerian horticulture sector?

The opportunities are significant: expanding production of high-value vegetables for domestic and export markets, investment in cold chain logistics and processing (purees, dried vegetables, frozen produce), greenhouse farming and drip irrigation services, digital platforms for input supply and market access and youth- and women-led agri-enterprises in aggregation, storage, and transport.

Nigeria’s growing urban population, changing diets, and regional trade agreements make horticulture one of the most dynamic parts of agriculture.

What have been some of the biggest challenges faced by the HortiNigeria program, and how were they addressed?

Challenges included insecurity, inflation, climate variability, removal of fuel subsidies, and rising CBN interest rates from 18.75 to 27.50 percent, which hit MSME access to credit.

Women faced land- access barriers in the North; in the South, urban expansion squeezed arable land and labour availability.

We adapted by relocating training hubs to safer areas, piloting digital extension, introducing home gardening and seedling production specifically for women, and engaging financial institutions to co-develop credit products. We also mobilized grants to pilot innovative models before scaling them commercially.

Now that the HortiNigeria Programme is coming to an end, is there any framework in place to ensure its sustainability beyond the initial funding?

Yes. From the beginning, we embedded sustainability in our approach. We’ve developed Agribusiness clusters in the north and Hubs in the south – local actors who will continue delivering services. We’ve strengthened input dealer networks, linked them to finance, and

established vegetable learning sites at the Center for Dryland Agriculture, BUK Kano, ABU Zaria and Saadatu Rimi College of Education, Kano, in collaboration with the institution managements.

We’ve also nurtured partnerships with Dutch companies like East-West Seed, Rijk Zwaan, Syngenta and Afri Agri, and with Nigerian financiers to co-invest in cold chain, protected agriculture, and pest management systems.

This is all about moving from aid to trade and investment, ensuring continuity beyond donor funding.

What lessons have been learned from implementing the programme, and how have these informed future plans?

We’ve learned that inclusion must be intentional; women and youth only benefit when programs are designed specifically for them.

We’ve also seen the power of integrating formal, informal, and semi- formal networks – for example, linking farmer cooperatives with private off-takers and including government agencies.

Five core lessons stand out: Inclusion must be intentional – reaching 40 percent women and 50 percent youth requires targeted design.

Infrastructure investments amplify impact – cold chain, irrigation and mechanization must be integral. Integrated pest management can be institutionalized nationally – using the Tuta absoluta model. Finance requires de-risking – guarantee schemes and blended finance unlock private capital. Aid-to-trade transition is viable – early engagement of Dutch and Nigerian businesses yields sustained investment.

Looking forward, we’re advocating for a National Horticulture Policy, exploring expansion of our Agribusiness Clusters, and scaling eco-efficient pest management and protected agriculture nationwide.

With the right investment environment, Nigeria could double horticulture exports to $500 million by 2030, drastically reduce post-harvest losses, and create thousands of jobs.

After 65 years of independence, Nigeria’s over-dependence on imports has stalled its transformation from an agrarian economy to an industrial one.

After gaining independence in 1960, the Nigerian government implemented the Import Substitution Policy to curb import dependency, create jobs, and preserve foreign exchange, marking a strategic shift towards industrialisation.

This was seen as a diametrically superb policy that was targeted at transforming the country from an agrarian to an industrial economy.

However, the policy failed because early policy-makers believed that protectionism was a cure-all for the country’s fledgling economy.

Since then, past governments have adopted various policies aimed at reducing over-dependence on imports, creating a high number of local jobs and saving foreign exchange. Some of the policies are the Nigerian Enterprises Promotion Decree, Structural Adjustment Policy, Small and Medium Industries Equity Investment Scheme, National Industrial Revolution Plan, National Automotive Policy and the Export Expansion Grant.

But lack of implementation and continuity in the policies has slowed the progress of the country’s industrial revolution.

According to the National Bureau of Statistics (NBS), growth in the manufacturing sector grew to 1.6 percent in the second quarter of 2025 from 1.28 percent in the same period in 2024.

Nnanyelugo Ike-Muonso, director-general of the Raw Materials, Research and Development Council (RMRDC), said that Nigeria must reduce its dependence on imported raw materials by at least 60 percent within the next five years if it is to become an industrial nation.

‘Over 70 per cent of manufacturing inputs used in our economy are imported. These data points expose a structural weakness,’ Ike-Muonso said in August at MAN’s equipment expo in Lagos.

‘We export our raw materials in their crude form, import in refined quality, and surrender jobs and value offshore before we have even begun,’ he said.

He argued that the country has the potential to industrialise rapidly, with over 120 commercially viable solid minerals, vast agricultural resources, and a large youthful population.

But Ike-Muonso reiterated that what is missing is ‘strategic coordination, bold implementation, and technology-backed commitment.’

While industrialisation has been a cornerstone of transformation in developed nations, Nigeria still lack the bustling facilities and vibrant industrial landscapes that characterise strong economies, despite its significant manufacturing capability and promising trajectories.

The availability of adequate infrastructure is also a major determinant of the success of every country’s industrial sector; however, Nigeria does not have adequate infrastructure to grow businesses, especially developed transport systems such as roads and railways connected to the nation’s seaports.

From Agbara industrial cluster in Ogun to Apapa in Lagos, roads are bad or inaccessible. Access roads to Apapa and Tin Can ports – Nigeria’s two main ports have continued to be nightmares for manufacturers and exporters. It is impossible to talk about infrastructure without discussing power. Energy is a key element of the production process. Nigeria’s inability to supply and distribute sufficient electricity has left businesses at the mercy of generators powered by diesel and petrol, whose prices have surged in recent months.

This raises the production costs for manufacturers significantly and forecloses their chances of competing with international peers.

According to the Manufacturers Association of Nigeria (MAN), manufacturers spend 40 percent of their total production cost on generating energy for their businesses.

Nigerian manufacturers suffered from a long-running shortage of foreign exchange and a sharp devaluation in 2024, which made doing business in the country complicated.

In 2024, the naira lost 40.9 percent of its value against the dollar in the official market despite notable growth in external reserves within the period, according to BusinessDay analysis.

The floating of the naira increased the official exchange rate from N463.38/$ on June 9 in 2023, to N1,500/$ as of October 3 in 2025.

The high cost of dollars and the implementation of a 7.5 percent value added tax on diesel imports have pushed its pump price to as high as N1,200 per litre.

The number of registered manufacturing firms with the MAN dropped from 4,850 in the early 1980s to 2,000 in 2010. From 2017-2024, more than 50 manufacturing companies have shut down.

Some of them are Surest Foam Limited, Mufex, Framan Industries, MZM Continental, Nipol Industries, Moak Industries, Stone Industries, Procter and Gamble, and GlaxoSmithKline, among others.

Regulation is a major issue hurting the sector. In Nigeria, Africa’s most populous country, agencies of the government work at cross-purposes.

For instance, the Standards Organisation of Nigeria (SON) does not accept tests done by the National Agency for Food and Drug Administration and Control (NAFDAC) and vice versa. Worse still, their responsibilities overlap. Similarly, local or state governments do not accept agreements by the Federal Government, particularly when it has to do with money or taxes.

Nigeria is cash-strapped due to low oil prices and high debt servicing. This is hurting the country’s capacity to fund projects and critical sectors.

However, the pool of funds from the CBN and development finance institutions is stashed in banks, which are sometimes unwilling to lend to businesses due to what they call the ‘high-risk level’ of lending to businesses in Nigeria.

Consequently, several manufacturers have complained that they cannot access most funds advertised by the government.

While some manufacturers have accessed funding from the CBN, Bank of Industry and others, however, the funds are not easily accessible by all players.

Dr. Ezekiel Adamu, CEO of Balmoral Group Promotions, has revealed plans to host a major heavyweight title fight in December 2025.

Dr Adamu disclosed after the successful staging of Africa’s biggest boxing spectacle, ‘Chaos in the Ring’, at the Mobolaji Johnson Arena in Lagos on October 1,

The historic Independence Day boxing night, organised by Balmoral Group Promotions in partnership with Amir Khan’s AK Promotions, showcased world-class action and positioned Nigeria as a growing hub for elite boxing.

In the main event, American cruiserweight Brandon Glanton stunned fans with a brutal sixth-round knockout of 2012 Olympian Marcus Browne in one of the evening’s most gripping contests.

There was also a special homecoming for Nigerian-born British boxer and former Commonwealth champion Dan Azeez, who delighted supporters with a fourth-round TKO win over Sulaimon Adeosun in his first-ever fight on Nigerian soil.

Speaking after the event, Dr. Adamu hailed the night as a milestone for African boxing and hinted at even bigger plans ahead. ‘Nigeria is the home of heavyweights. I know they say Queensbury is the home of heavyweights, but really, Nigeria is the true home,’ an elated Adamu declared.

He pointed to the country’s rich ties to the division like Moses Itauma, David Adeleye, Lawrence Okolie, Anthony Joshua, and even Deontay Wilder, who has Nigerian roots, as proof that Nigeria has long been central to heavyweight boxing.

‘You have just seen what Taiwo Agbaje has achieved. It shows we have another champion ready to rise, and we are going to make it happen,’ Adamu said after the fight night.

The Balmoral Promotions boss went further, directly challenging top Nigerian-bred heavyweights to headline a landmark fight on home soil.

‘I’m challenging these guys, whether it’s Moses Itauma, David Adeleye, or Lawrence Okolie, we must have a proper heavyweight fight here in Nigeria. And we are going to make it happen.’

Adamu confirmed that the company’s next show is scheduled for December 19, with the fight card to be announced in the coming weeks.

Andry Rajoelina, Madagascar’s president has promised to ‘listen and find solutions’ to the mounting problems facing the island nation, but stopped short of bowing to protesters’ demands that he step down.

For nearly two weeks, the country has been gripped by youth-led demonstrations – the biggest wave of unrest in years – drawing inspiration from ‘Gen Z’ protest movements in Kenya and Nepal. What began as anger over worsening water shortages and crippling power cuts in the capital has spread into broader calls for accountability in a country long dogged by poverty and corruption. The United Nations estimates that at least 22 people were killed and more than 100 injured in the early days of the protests, though the government disputes those figures. Security forces have repeatedly fired tear gas to disperse crowds, as fresh demonstrations resumed in Antananarivo on Friday following a one-day pause.

Rajoelina, speaking in a nationally broadcast address on Facebook, urged restraint.

‘No one benefits from the destruction of the nation. I am here, I stand here ready to listen, ready to extend a helping hand, and above all, ready to bring solutions to Madagascar,’ he said.

The president also suggested, without offering evidence, that some politicians were attempting to exploit the unrest and had even considered a coup while he was in New York last week for the UN General Assembly. Earlier this week, Rajoelina dismissed his government in a bid to ease tensions. The move has done little to calm anger among protesters who say decades of poor governance have left one of the world’s most resource-rich countries mired in deep poverty.

Despite vast reserves of minerals, fertile farmland and extraordinary biodiversity, Madagascar remains one of the poorest nations globally. The World Bank says per capita income has fallen by 45 percent in real terms since independence in 1960, blaming the decline on entrenched elites who control the economy, a lack of competition and widespread corruption. Rajoelina himself is no stranger to political upheaval. He first came to power in 2009 after leading mass protests that toppled his predecessor, before winning elections years later. Now, he faces a generation of young people deploying the same tactic against him.

‘Criticism of existing problems does not necessarily have to be expressed in the streets; it should be done through dialogue,’ the president argued.

But with protesters demanding nothing short of his resignation, and with frustration over decades of decline running deep, Madagascar’s path out of the current crisis remains uncertain.