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Effiong Okon, the managing director of the ANOH Gas Processing Company Limited (AGPC), has declared that the company’s $3 billion investment is a strategic commitment to building prosperity and lifting communities out of poverty, not merely an infrastructure project.

Okon made this assertion during the flag-off of the 3rd edition of AGPC’s flagship Corporate Social Responsibility (CSR) initiative, the Sight First Medical Outreach Program, in Assa, Ohaji/Egbema Local Government Area.

The event, themed ‘Restoring Sight, Renewing Hope,’ became a platform for the MD to articulate a broader vision for AGPC’s role in the Niger Delta, linking the company’s industrial might directly to human development.

‘The goal isn’t just to build a gas plant; it’s to build prosperity and lift people out of poverty,’ Okon stated, drawing applause from community leaders, traditional rulers, and government officials in attendance. ‘If an investment doesn’t improve lives, it’s meaningless.’

He contrasted the current reality in Assa with its recent past, recalling a time when the area was considered unsafe. ‘A few years ago, people said nobody wanted to live here. But look at what we saw just days ago during the STEM program, hundreds of bright children, full of energy and dreams. That’s the future we’re building,’ he noted, highlighting the transformative power of sustained investment and partnership.

Okon commended the host communities for their peace and cooperation, which he described as the bedrock enabling AGPC to operate and invest with confidence. He reaffirmed the company’s long-term commitment, projecting a presence spanning 30 to 40 years and beyond.

In his formal address, Okon described the initiative as an expression of AGPC’s ‘humanity and social conscience.’

‘Sight is one of life’s most precious gifts. Sadly, many are denied this blessing due to preventable or treatable eye conditions. For them, loss of vision is not just a medical issue; it’s a loss of dignity and hope. This is why we are here, to restore both sight and dignity,’ he said.

The program’s tangible impact highlighted the company’s commitment. To date, over 4,000 patients have benefited from the outreach, with more than 211 undergoing successful corrective surgeries, turning ‘tears of darkness into tears of joy,’ as described by Chibuzor Obinna, Chairman of the Impacted Community Management Board.

The company’s efforts received strong validation from community representatives. Asilonu Utti, Chairman of the Host Community Management Board, lauded AGPC as ‘the one to beat,’ stating that every family in Assa has felt the company’s impact through employment, contracts, or CSR programs.

‘In just six to seven years, AGPC has rewritten our story,’ Utti said. ‘Even the so-called ‘bad boys’ protect AGPC because everyone benefits.’

While commending the initiatives, he also appealed for further intervention in internal road construction and expanded healthcare, expressing optimism about the future. ‘You have not even started making revenue, yet you are touching lives. Imagine the transformation when production begins, it will be massive.’

The regent king of Ohoba, Fidelis Armstrong, also commended AGPC’s developmental impact and called for strengthened security collaboration to safeguard the investments that are fostering peace and prosperity.

Tunji Alausa, minister of education said the federal government on Tuesday launched federal tertiary institution governance and transparency dashboard, to strengthen transparency and accountability.

The dashboard is expected to serve public tertiary institutions, universities, polytechnics, colleges of education receiving almost 100% federal government funding, to hold them accountable.

This is just as he assured that the President Tinubu’s administration is currently engaging all unions in federal tertiary institutions to end era of strikes. He disclosed this while speaking with State House journalists after meeting with the President at the Presidential Villa, Abuja.

He said, ‘This is what this government is all about. Government of President Bola Tinubu is about deepening the governance and transparency, transparency process in our country, and in the past 26 months, you’ve seen that played out.

‘I can continue to tell you what the President has done over and over in terms of the significant, massive progress that we’ve made.

‘We started with the federal tertiary institutions. We’re going to move it to all tertiary institutions in the country, state universities, polytechnics and colleges of education, as well as private universities, private polytechnics and private colleges of education.

‘We will enforce the reporting requirement using our regulatory bodies; NUC, National Board for Technical Education, as well as National Council for National Commission of Colleges of Education.

‘The other thing we did today beyond launching the transparency portal, it’s also to continue our agenda to enhancing and deepening governance in our tertiary institutions.’

He disclosed that the Ministry also invited Adebowale Adeokun, the director general of Bureau of Public Procurement (BPP), to meet with all the heads of our tertiary institution to clearly lay down the requirements of BPP in ensuring they comply fully, efficiently and effectively with our public procurement rules.

‘That’s deepening our governance and transparency processes.’

Speaking on the Academic Staff Union of Universities (ASUU) strike, he said the ‘President has mandated us that he doesn’t want ASUU to go on strike, and we’re doing everything humanly possible to ensure that our students stay in school.’

He noted that the last strike they went on for about 6 days was not really needed, adding that ‘We’re talking to them.’

‘We’ve met literally all their requirements. Now we’ve gone back to the negotiation table. We’re talking as we spoke to the leadership this morning. We will resolve this. And part of my visit today here is to also explain where we are with the ASUU strike to Mr. President and to extract more concession from Mr. President. In the education sector, we’re taking advantage of Mr. President because of his love, his fervent and benevolent love for education and human capital.

‘And when you talk about human capital, you’re talking about health, education and social protection.

‘Beyond what our president is doing in expanding, creating opportunities across the country, building economy. We’ve seen what’s happening with fuel subsidy, foreign exchange arbitrage is gone. Extensive infrastructure projects going across the country. We have new tax bill. Our GDP is growing the last quarter. GDP is at 4.23%. Nigeria is back to governments.’

He explained that the problem in the past was that the Ministry of Education, created the problem by meeting separately with all the unions.

‘We had one negotiating committee dealing with universities, ASUU. We had another one dealing with Polytechnics, ASUP, and we had another one dealing with colleges of education COHESU, and they’re not talking to one another.

‘What we’ve done now is to expand one single committee called Alhaji Yayale Ahmed federal government, negotiating committee with tertiary institutions.

‘They’re dealing with both academic and non-academic unions. As I’m talking to you. They’re talking to polytechnics, the same committee is talking to the polytechnics, talking to the Colleges of Education, as well as ASUU, both academic and non academic union. And with all due respect, there is no ultimatum.

‘I still spoke to the president of ASUP yesterday. I’m on first line call to them. Everything is calm, and they all understand this is a listening government. We would resolve all their problems, resolve significant part of their problems,’ he added.

Nigeria stands at a historic moment where inclusion could become the nation’s greatest growth engine. Women constitute nearly half of Nigeria’s population, yet their economic contributions remain undervalued and undercapitalised. Across boardrooms, farmlands, and markets, women are building and leading enterprises at unprecedented rates. About 39 percent of Nigerian businesses are women-owned, one of the highest rates in Africa, but structural barriers still limit their access to capital, technology, and scale. At the same time, more than 35 million Nigerians live with disabilities, representing an untapped demographic whose exclusion costs the nation not just in lost productivity but also in innovation and human potential. Together, these two groups form the backbone of a hidden economy that is resilient, entrepreneurial, and creative, yet remains on the periphery of mainstream investment.

The solution is neither charity nor tokenism; it is Gender-Lens Investing (GLI)-a deliberate strategy that channels finance toward women, youth and disability-inclusive enterprises while generating competitive financial returns. Around the world, this approach has proven to be both smart economics and social justice in motion. For Nigeria, it could be the single most transformative lever for inclusive prosperity. That conviction was the driving force behind the Gender Equity and Social Inclusion (GESI) Roadmap 2025-2035, launched by the Impact Investors Foundation (IIF) at the third Gender Impact Investment Summit in Lagos. The roadmap lays out a bold 10-year plan to mobilise $8 billion in inclusive capital, develop 40 inclusive financial products, and ensure that investment decisions reflect the full diversity of Nigeria’s population. It signals the start of a decade where equity is not a slogan but a measurable investment priority.

Demographically, women are 50 percent of Nigeria’s population and form an enormous potential market and talent pool. Yet formal economic structures still under-serve or exclude them. Recent data show that nearly two out of five businesses in Nigeria are women-owned, a rate higher than many sub-Saharan African countries, yet access to institutional capital remains painfully low. Female entrepreneurs are more likely to depend on personal savings, informal loans, or high-interest microfinance rather than equity or venture funding. Meanwhile,

Persons with Disabilities (PwDs), 35.1 million Nigerians, according to NCPWD/WHO, are frequently excluded from financial product design, workplace inclusion, and investment strategies. This exclusion strips the economy of talent, creativity, and consumer demand. According to the International Labour Organisation (ILO), roughly 18-25 kisses of the total population in Nigeria are youth aged 15 to 24 years. This demographic faces significant financial and investment challenges, a combination of high unemployment, low access to formal credit, and financial exclusion relative to older populations.

Gender-Lens Investing (GLI) intentionally channels capital to businesses and products that advance women’s economic participation, leadership, and resilience, measuring success both financially and socially. For Nigeria, there are several interconnected reasons that make GLI a national imperative. Research has shown that enterprises led by women often deliver comparable or higher returns with lower volatility, yet they remain underfunded. Directing capital to these firms diversifies portfolios and enhances stability, thus ensuring higher returns and lower risk. According to the Nigerian government, closing gender gaps in Nigeria could significantly boost the economy, with potential gains of ?15 trillion annually by 2025 and up to $229 billion in GDP by the same year. This will ensure macro growth gains and yield a significant boost in productivity, fiscal revenue, and household welfare. Even with the Nigerian government’s focus on narrowing gender disparities, the full potential for economic growth and a measurable boost to GDP remains unrealised.

Furthermore, because women, youth, and Persons with Disabilities (PwDs) are key players as both producers and consumers, designing inclusive financial products will expand market reach, drive innovation, and create new revenue streams across various business industries, promoting a more inclusive market expansion. Finally, the social multiplier effects resulting from investments that empower women and PwDs cannot be overestimated, as these effects will ripple through Nigerian societies, improving child education, family health, and the local enterprise ecosystems.

Stakeholders in Nigeria will need to take deliberate steps to intentionally close the gender and inclusion financing gaps. This singular act will catalyse a faster formalisation of female-owned Micro, Small, and Medium Enterprises (MSMEs); ensure stronger productivity in sectors where women dominate: retail, agriculture, and trade; and create a more diversified job market that better absorbs youth entrants. Even small increases in women’s labour-force participation and government representation could deliver outsized gains for national growth and social stability. To unlock this potential, investors and policymakers must expand gender-smart funds, create first-loss guarantees for women-led pipelines, establish credit assurance schemes for PwDs, and develop financial products tailored to the informal economy and caregiving realities.

Nigeria already has frameworks to advance inclusion, such as the Revised National Gender Policy (2021-2026) and the Federal Ministry of Women Affairs, which provide the institutional basis for mainstreaming gender and social inclusion across government. However, implementation gaps persist: weak enforcement, inconsistent gender-responsive budgeting, and limited support for women-led firms often blunt their impact. To convert policy into progress, the government must strengthen accountability, enforce procurement quotas for women- and PwD-owned businesses, and incentivise private-sector participation through tax and credit reforms. For investors and policymakers seeking a scalable benchmark model, the Nigeria Inclusive Capital Commitment 2035 Campaign, which drives stakeholders toward actionable targets through the GESI Roadmap, reveals profound implications for the country. It positions Nigeria as a model for gender-lens and inclusive investing, with its ten-year roadmap (2025-2035) serving as powerful proof-of-concept for unlocking immense untapped economic potential continent-wide.

The GESI Roadmap, developed in collaboration with PricewaterhouseCoopers (PwC), is a deliberate framework for intentionally dismantling financial barriers and establishing Nigeria as a regional leader of inclusive finance. The roadmap presents a clear, actionable plan centred on several ambitious yet achievable targets designed to democratise capital through stakeholder engagements and foster an inclusive investment environment. The financial goals are to mobilise a cumulative $8.0 billion in gender-inclusive capital and secure $1.5 billion from domestic capital pools, ensuring the transformation is locally owned and sustainable. To operationalise these funds, the roadmap aims for the launch of 40 inclusive financial products specifically tailored for women, youth, and Persons with Disabilities (PwDs). The commitment to inclusion is embedded at the highest levels of investment decision-making by targeting 90% integration of General Partners with GESI principles, while the enactment of 20 new policy and regulatory instruments will solidify the necessary enabling environment for success.

Gender-lens investing is not philanthropy disguised as finance; it is smart economics. For Nigeria, the prize is clear: a more productive economy, deeper financial markets, and a fairer society. The GESI Roadmap gives the country a measurable path forward. What remains is the resolve to align capital, policy, and technical support so that half of Nigeria’s population, its 35 million citizens living with disabilities and youths, are fully included in the next chapter of growth. The returns will not only be financial but profoundly social, redefining prosperity for a new generation.

The Oyo State High Court in Ibadan has given the Peoples Democratic Party (PDP) the green light to proceed with its elective national convention scheduled for November 15 and 16, despite an escalating leadership struggle within the opposition party.

In a ruling delivered by Justice A. L. Akintola, the court granted an interim order permitting the convention to hold as planned in Ibadan. The court also directed the Independent National Electoral Commission (INEC) to attend and monitor the exercise pending the hearing of the substantive application.

The order stemmed from an ex parte motion filed by Folahan Adelabi, who sought to prevent the party’s leadership from altering or disrupting the timetable and guidelines for the convention. Justice Akintola found that the claimant established sufficient grounds for immediate judicial intervention and granted the requested relief.

The matter was adjourned to November 10 for the hearing of the motion on notice.

The Ibadan ruling, issued on November 3 and signed by Principal Registrar S. O. Hammed, stands in contrast to a decision delivered days earlier by Justice James Omotosho of the Federal High Court in Abuja. In that judgement, the Abuja court halted the planned 2025 PDP national convention until the party complies with statutory provisions and internal regulations governing such gatherings. INEC was also restrained from accepting the outcome of any convention held outside those requirements.

The PDP rejected the Abuja court’s ruling, insisting that it retains the authority to continue preparations for the convention. National Publicity Secretary Debo Ologunagba described the judgement as an affront to democratic processes and said the party had instructed its legal team to appeal.

While the legal battles continue, the party’s internal crisis intensified on Monday at its Abuja headquarters. Abdulrahman Mohammed, a former North Central vice chairman, arrived at the secretariat and announced he had assumed office as acting national chairman. He was accompanied by supporters and addressed a crowd outside the premises.

Mohammed’s emergence followed a decision by the Samuel Anyanwu-led National Working Committee (NWC) declaring him acting national chairman after suspending the party’s substantive chairman, Umar Damagum, and National Publicity Secretary Ologunagba.

Damagum’s camp issued its own countermeasures over the weekend, suspending National Secretary Samuel Anyanwu, National Organising Secretary Umar Bature, and several other principal officers. Anyanwu’s faction responded by announcing suspensions of Damagum, Ologunagba and four additional NWC members, further entrenching the split.

As Mohammed resumed at the party’s headquarters on Monday, Damagum and officials aligned with him were absent, underscoring the extent of the parallel power centres now operating within the PDP.

Kayode Egbetokun, Inspector-General of Police (IGP), has reaffirmed the commitment of the Nigeria Police Force to safeguard the integrity of the November 8 Anambra governorship election, pledging a firm, neutral, and law-based enforcement of peace and order.

Speaking at the signing of a peace accord in Awka on Monday, Egbetokun assured residents that the police and other security agencies were fully prepared to deliver a peaceful, credible, and law-abiding election.

‘This is a constitutional and operational convocation to consolidate our collective commitment to peace, law, and order.

‘The Nigeria Police Force stands prepared to ensure that this democratic exercise unfolds under an atmosphere of absolute security, fairness, and public confidence’, the IGP said.

Egbetokun reaffirmed the Police Force’s statutory mandate as the lead agency for internal security and election management under Section 4 of the Police Act, 2020.

He said a comprehensive, intelligence-led operational plan had been activated to cover all 21 local government areas of Anambra State.

According to him, the deployment plan, developed under the Inter-Agency Consultative Committee on Election Security (ICCES), will see adequate police presence in all 4,608 polling units across the state, supported by the Armed Forces, Nigeria Security and Civil Defence Corps (NSCDC), Federal Road Safety Corps (FRSC), Nigeria Immigration Service (NIS), and National Drug Law Enforcement Agency (NDLEA).

‘Every formation, patrol team, and operational asset is integrated into a central command framework for real-time communication, intelligence exchange, and immediate intervention. We are prioritizing prevention before reaction, ensuring no vacuum exists for mischief or disorder’, he explained.

Egbetokun emphasised that security agencies would remain neutral and apolitical throughout the electoral process, maintaining allegiance only to the Constitution and the Nigerian electorate.

‘Our allegiance is not to any political party, candidate, or ideology, but solely to the Constitution of the Federal Republic of Nigeria. The Force shall remain neutral yet assertive; civil yet firm; professional yet unyielding in the discharge of its duties’, he declared.

The police chief warned that any attempt to undermine public peace, manipulate the election, or intimidate voters would attract ‘swift, lawful, and proportionate force.’

‘Under no circumstance will criminality be permitted to masquerade as political expression. The peace of Anambra State is non-negotiable, and the integrity of this election will not be compromised’, he said

Egbetokun announced a total ban on the participation of vigilante and non-state security outfits, including the defunct Ebube Agu, in election-related activities, stressing that only federal agencies are authorized to manage security during elections.

He cited Sections 91(1) and 120(1) of the Electoral Act, 2022, which vest exclusive authority for maintaining public peace during elections in the Nigeria Police Force.

‘The responsibility for election security is an exclusive preserve of the Federal Government and its recognized agencies. Any group or individual performing such functions is acting unlawfully and shall face sanctions’, he said.

The IGP also issued a stern warning to the proscribed Indigenous People of Biafra (IPOB) and its militant wing, the Eastern Security Network (ESN), over alleged plots to disrupt the election through sit-at-home orders and voter intimidation.

‘Such actions are clear acts of criminality and treasonable defiance of the Nigerian State. Any attempt by IPOB, ESN, or any other non-state actor to interfere with the forthcoming election shall invite an immediate, coordinated, and overwhelming law enforcement response’, he warned.

He added that intelligence operations were already underway to identify and dismantle networks planning acts of violence, stressing that anyone caught bearing arms or performing unauthorized security duties would be treated as an armed non-state actor and prosecuted.

The police, he said, have activated a Zero-Tolerance Enforcement Protocol to ensure strict compliance with electoral laws.

Egbetokun directed officers to arrest and prosecute anyone caught engaging in offences such as vote-buying, ballot-snatching, or voter intimidation.

‘Electoral offences will be treated as criminal violations of national security, not mere political misconduct,’ he stated.

He also revealed that cybercrime units had been deployed to track and counter fake news, digital misinformation, and propaganda that could incite violence or discredit the electoral process.

‘Those who weaponize misinformation to incite violence will be traced, apprehended, and prosecuted under the Cybercrime Act,’ he added.

The IGP outlined several election-day protocols, including restrictions on VIP movements and a ban on armed escorts accompanying political candidates. Only accredited officials, journalists, and observers would be permitted to move freely between designated areas.

Campaigning, partisan displays, or acts capable of provoking violence near polling units are also prohibited.

‘Possession of any weapon or instrument of intimidation will attract immediate arrest,’ he warned.

Egbetokun appealed to political parties, candidates, and community leaders to demonstrate restraint, patriotism, and leadership by discouraging violence and inflammatory rhetoric.

‘Campaign with honour; persuade rather than provoke,. Power attained through violence is illegitimate and unsustainable’, he urged.

He called on traditional and religious leaders to use their moral influence to dissuade youths from engaging in electoral violence and to promote unity and peace within their communities.

In his closing remarks, the police chief reassured residents that the Force would protect every voter and uphold the sanctity of the ballot.

‘On November 8, exercise your right to vote freely and fearlessly. We shall protect your lives, your votes, and your voices.

‘Our mission is clear, to defend the law, preserve peace, and uphold the sovereign will of the people. Order will be absolute’, he said.

Two years into the implementation of the ARISE Agenda of Akwa Ibom State, the unemployment rate remains alarming, sending many youths on embarrassing errands and dirty political jobs just to make ends meet.

Worried by the trend, the supreme monarch of Akwa Ibom and Oku Ibom Ibibio, Ntinyin Solomon Etuk, during a recent visit by the Senate President, Godswill Akpabio, stated emphatically that the only problem that had consumed the state for decades is unemployment.

For over a week, the statement by the supreme leader has generated applause from indigenes and residents.

In a random telephone interview conducted by a correspondent, Akwa Ibom expressed appreciation for the concern of the monarch on such a nagging matter.

Recall that Senate President Godswill Akpabio and other members of the Senate leadership, the penultimate Friday, paid a courtesy call on the Oku Ibom Ibibio in his palace in the Nsit Ubium local government area.

The monarch, who described the visit as timely and auspicious, expressed shock and deep concern over the prevailing high rate of unemployment in Akwa Ibom State in particular and Nigeria in general, appealing for the urgent intervention of the Senate President.

‘Don’t forget your brothers and sisters; my children, our children, all over, are suffering seriously over unemployment. Try as much as possible to ensure that our children have something to do. We are battling with youth restiveness in our communities due to joblessness,’ the Oku Ibom pleaded.

He attributed the ongoing crime rates in society to idleness, occasioned by unemployment, appealing to all tiers of government to confront the menace.

He referred to the 2020 Akwa Ibom employment rate, which was put at 45.2% by the National Bureau of Statistics, making it the second highest in the country.

While appealing to the Senate President to pursue the actualisation of the Ibom Deep Seaports, the Oku Ibom believed that with combined efforts with Governor Umo Eno’s ARISE Agenda and with well-meaning individuals, the much-expected project would surely come on stream.

Responding, Akpabio pledged to place the project on the priority list of the Federal Government.

President Bola Tinubu is close to completing the long-delayed appointment of ambassadors to Nigeria’s foreign missions, following months of complaints about the country’s limited diplomatic representation abroad.

According to a report by The Punch, senior officials in the Presidency said the President has ordered a final review of the proposed ambassadorial list after discovering that several earlier nominees are no longer eligible. Some nominees reportedly died, retired, or had less than a year left in service, prompting the need for replacements.

The newspaper cited officials who explained that although the Senate had already screened the original nominees, the list was returned to the Presidency for an update to reflect individuals still available and qualified for deployment.

Security clearances had been completed months earlier, but changes in the nominees’ status – including ill health and new job appointments – meant the list required fresh verification, The Punch reported.

The delays stretch back to Tinubu’s decision in September 2023 to recall all ambassadors from Nigeria’s 109 foreign missions as part of a broad diplomatic restructuring. Since then, most missions have been overseen by chargés d’affaires, a situation that career diplomats say limits Nigeria’s influence, particularly during sensitive negotiations.

Foreign service officials quoted in the report noted that ambassador-level engagement is often essential, especially as Nigeria navigates heightened diplomatic demands.

The renewed push to formalise the appointments comes amid tension with Washington following former U.S. President Donald Trump’s recent threats of military action over disputed claims of Christian persecution in Nigeria. While officials told the newspaper that the absence of ambassadors did not directly cause the diplomatic flare-up, they acknowledged that communication could have been smoother with envoys in place.

The Punch also reported that Foreign Affairs Minister Yusuf Tuggar is expected to meet with the President at the State House today (Tuesday), with the discussion believed to include the ambassadorial list.

In April, it was reported that funding constraints had contributed to the delay, with over $1bn required to settle arrears, rehabilitate embassies and replace ageing mission infrastructure.

Tinubu has previously acknowledged the difficulty of balancing political expectations with professional considerations in diplomatic appointments. With cleanup now underway, officials quoted in the report said the final list could be made public once the President gives his approval.

The European Union has reaffirmed its commitment to peace, religious freedom, and the protection of all communities in Nigeria following recent threats made by Donald Trump, President of the United States toward the West African nation.

Responding to a question on Monday about Washington’s stance, Anouar El Anouni, EU spokesperson for Foreign Affairs and Security Policy, said the Union had ‘taken note’ of the statements by the American administration but remained focused on supporting Nigeria’s stability through cooperation and humanitarian assistance.

‘The EU expresses its solidarity with all the communities and families affected by the violence, including the recent large-scale attacks in the southern belt of Nigeria and in the northeast.

‘We reaffirm our commitment to freedom of religion and belief, and to the protection of all communities, especially minorities’, El Anouni said.

He emphasised that while religion has played a role in Nigeria’s violence, it is ‘only one of many factors,’ noting that the conflicts often stem from complex socio-economic and political issues.

The EU, he said, continues to work closely with Nigerian authorities through ‘multifaceted support’ aimed at preventing violence, consolidating peace, and assisting victims of attacks and forced displacement.

El Anouni stressed that the bloc remains committed to promoting ‘peaceful coexistence among the Nigerian population, beyond geographical, ethnic, political, or religious differences,’ in line with the EU’s broader engagement for stability and development in Africa.

Retirement, for many Nigerian workers, has become less a season of rest and reward and more a period of uncertainty, neglect, and hardship. Across Nigeria, the story is the same, from civil servants to private employees, from teachers to artisans, and even among retired athletes and politicians. The promise of dignity after decades of labour has become a mirage in a nation where pension payments are erratic, savings are eroded by inflation, and social welfare is almost non-existent.

It is tragic that for many Nigerians, the retirement journey often marks the beginning of financial distress. The average life expectancy in Nigeria now stands at 54.8 years, according to the World Bank’s 2024 Human Development Report, yet many retirees live well beyond 70 years, often in poverty. What should be a reward for years of service becomes a slow slide into deprivation and depression.

‘The digitalisation of pension records must be completed to eliminate ‘ghost retirees’ and speed up verification processes. Pension administrators should also be held accountable for delays and opaque investment practices.’

The National Pension Commission (PenCom) reports that as of June 2025, total pension assets stood at N19.7 trillion, up from N17.3 trillion in 2023. Yet, only about 10.2 million Nigerians, barely 8 percent of the working population, are enrolled in the Contributory Pension Scheme (CPS). This means that more than 90 per cent of Nigeria’s labour force, especially those in the informal and self-employed sectors, have no structured pension plan.

For those within the scheme, delays and underpayments remain rampant. The Pension Transitional Arrangement Directorate (PTAD), responsible for pensioners who retired before the 2004 pension reform, still grapples with backlogs. In August 2025, hundreds of elderly pensioners under the Federal Civil Service Pensioners (FCSP) again protested in Lagos and Abuja, demanding payment of arrears dating back to 2017. Some of them, frail and leaning on walking sticks, lamented that colleagues had died waiting for what was rightfully theirs. Their placards told a painful story: ‘We served Nigeria; don’t abandon us in death.’

According to FCSP chairman, Arashi Lawal, and state secretary, Abiodun Michael, ‘countless pensioners have not been placed on PTAD’s payroll since the last verification exercise in 2017.’ Despite government assurances, progress has been slow, worsened by bureaucratic red tape and alleged data inconsistencies.

The situation is compounded by inflation and currency devaluation. Nigeria’s headline inflation rate stood at 28.9 percent in August 2025, according to the National Bureau of Statistics (NBS), while food inflation climbed above 36 percent, the highest in two decades. For retirees depending on fixed pensions, these figures translate to disaster. What was once a modest but liveable pension is now barely enough for basic food, medicine, and transport.

Unfortunately, the problem extends beyond the public sector. The private sector and the self-employed are equally unprepared for retirement. A 2024 survey by Enhancing Financial Innovation and Access (EFInA) revealed that over 80 percent of small business owners have no formal retirement savings, while 70 percent have no health or life insurance. Many entrepreneurs are so consumed by day-to-day survival that they postpone or ignore planning for the future. As social commentator Godwin Onyema rightly observed, ‘Entrepreneurs are building businesses, not futures. They are growing their income today at the expense of security tomorrow.’

A similar study by the Lagos Chamber of Commerce and Industry (LCCI) found that nearly two-thirds of micro and small enterprises in Lagos operate without employee pension schemes, despite statutory requirements. For these business owners, the assumption is simple: their business is their pension. Yet, with Nigeria’s volatile economy, rising cost of living, and uncertain policy climate, such optimism is risky and unsustainable.

The result is a looming social crisis for millions of elderly Nigerians without a steady income or social support. Already, more than 60 percent of retirees rely solely on family assistance, according to PenCom data. But as youth unemployment hovers around 33 percent, and the cost of living worsens, younger family members are less able to shoulder that burden.

This reality underscores the urgent need for structural reforms in Nigeria’s pension and retirement ecosystem. While the CPS introduced in 2004 remains a significant improvement over the old defined benefit system, its reach and efficiency are still limited. Many state governments continue to default on their own pension contributions. As of this year, 15 states were yet to fully implement or domesticate the contributory pension scheme, according to PenCom’s compliance report.

The federal and state governments must therefore treat pension reform and retirement planning as a national emergency. The digitalisation of pension records must be completed to eliminate ‘ghost retirees’ and speed up verification processes. Pension administrators should also be held accountable for delays and opaque investment practices.

Beyond government responsibility, individuals must also cultivate a savings culture. Retirement planning cannot wait until age 60. Financial experts advise that workers should dedicate at least 10-15 percent of their monthly income to long-term savings or investments. Affordable micro-pension plans launched by PenCom in 2019, targeted at informal workers such as artisans, drivers, and traders, should be more aggressively promoted, especially through cooperatives and trade unions.

Corporate Nigeria also has a role to play. Employers must treat pension remittance as an obligation, not a favour. The idea that a company can fail to remit pensions for years without consequence reflects weak enforcement by regulators. The National Assembly should consider stricter penalties for defaulters and create incentives for compliance.

Retirement should not be synonymous with poverty. After decades of public service, no Nigerian should beg or protest to receive their pension. The government’s duty does not end when a worker clocks 60; it continues through how it honours their service.

As Nigeria battles inflation, debt, and economic transition, it must not lose sight of its most vulnerable citizens, the men and women who built the nation’s foundation. Their dignity in old age is the truest measure of national development.

If Nigeria must grow into a fair and functional society, then every worker must be assured that the labour of their youth will not be punished in old age. It is time to make retirement a right and not a regret.

Despite the sharp decline in global oil prices, Nigeria’s external reserves have remained stable at $43.19 billion as of October 31, 2025, according to data from the Central Bank of Nigeria (CBN).

This resilience comes at a time when Brent crude prices have dropped significantly, now hovering slightly above $64 per barrel, posing a serious concern for an oil-dependent economy like Nigeria. The Wall Street Journal’s forecast that Brent crude could fall below $50 per barrel by the end of 2025 further deepens the urgency for strong economic and monetary responses.

The politics and uncertainty surrounding global oil prices continue to weigh heavily on Nigeria’s fiscal revenues and macroeconomic outlook. In anticipation of these pressures, the Olayemi Cardoso-led CBN has moved swiftly to strengthen the country’s economic buffers and sustain foreign exchange (FX) inflows, ensuring stability in the domestic economy despite the downward trend in crude prices.

Analysts at United Capital Research, in their fourth-quarter economic outlook, projected that reserves will continue to rise steadily, driven by higher oil export earnings, increased diaspora remittances, and a favourable trade surplus.

United Capital noted that as of September 30, 2025, Nigeria’s external reserves stood at $42.53 billion, the highest in over 44 months, supported by consistent capital inflows, a trade surplus, and diaspora remittances. The firm also attributed the sustained buildup to improving macroeconomic stability and noted that the reserves now cover more than eight months of imports, a development expected to have a positive short-term impact on the naira’s value. The report emphasised that the figure reflects a 30-day moving average, suggesting that actual reserve levels may be higher than reported.

Global oil futures have remained volatile, with Brent futures easing by 0.71 percent to $64.47 per barrel as energy discussions were excluded from the U.S.-China trade truce, leaving the global supply outlook uncertain. This development threatens Nigeria’s 2025 budget, which was built on assumptions of oil production of two million barrels per day and an oil price benchmark of $75 per barrel. With current prices below the budget benchmark, oil revenues are expected to fall short, potentially widening the fiscal deficit to between six and seven percent of Gross Domestic Product (GDP), fueling inflationary pressures and threatening macroeconomic stability.

To mitigate these risks, the CBN has introduced measures to boost non-oil exports, deepen backward integration to reduce import dependence, and streamline diaspora remittances to enhance FX inflows. Drawing from lessons in China’s economic strategy, the apex bank has emphasised that Nigeria’s competitive exchange rate can serve as a catalyst for export-led growth. Businesses are therefore encouraged to focus on sectors such as agriculture, manufacturing, and the creative industries; adopt import substitution by strengthening local production; and prioritise value addition to transform raw material exports into processed goods with higher foreign exchange value.

Highlighting opportunities in the creative sector, Cardoso projected that the industry could generate up to $25 billion annually for the economy. He urged Nigerian creatives in music, film, crafts, and digital content to leverage global platforms and international markets to boost dollar inflows.

The CBN governor has also urged the telecommunications industry to embrace backward integration and reduce reliance on imported components. Speaking recently, during a visit by the Airtel Africa management team led by Group CEO Sunil Taldar, Cardoso stressed that producing key inputs such as SIM cards, cables, and towers locally would help ease FX pressure, create jobs, and strengthen the national economy.

Cardoso noted that over the past 16 months, the CBN has taken deliberate actions to stabilise the FX market, strengthen the naira, and restore investor confidence. With these foundations established, he said, telecom operators must now play their part by aligning with the national push for local value creation. In response, Airtel’s Group CEO commended the CBN’s policy direction and reaffirmed the company’s commitment to supporting financial inclusion and local production through innovation and technology.

Charles Abuede, head of Research at Cowry Asset Management Limited, said the CBN’s call for backward integration is timely and necessary. He explained that the heavy demand for foreign exchange by telecom operators has intensified pressure on the naira. According to him, with better infrastructure and a stable business environment, operators can locally produce key inputs, reducing costs and improving profit margins in the long term.

Creating Economic Buffers amid Reforms

Cardoso has repeatedly emphasised that ongoing CBN reforms have removed major distortions and established a foundation for sustainable growth. Speaking at an investors’ forum held alongside the IMF/World Bank Annual Meetings in Washington, DC, he said bold fiscal and monetary reforms have enhanced macroeconomic stability and increased investor confidence.

The forum, which was attended by major financial institutions including JP Morgan, focused on attracting foreign investors and strengthening market confidence in Nigeria’s economic trajectory. Cardoso also disclosed that the Federal Government plans to issue about $2.3 billion in Eurobonds to refinance the $1.18 billion Eurobond maturing in November.

According to him, the CBN remains committed to maintaining prudent policies that guarantee lasting economic benefits. He projected a near-term growth rate of about four percent, driven largely by expansion in the non-oil sector. Inflation, he added, is expected to ease to around 18.02 percent, while foreign reserves have climbed to a five-year high of $43.4 billion, enough to provide 11 months of import cover.

Cardoso further revealed that Nigeria currently maintains a positive balance of payments position, a sign of strengthened macroeconomic resilience. He credited these gains to the Federal Government’s difficult but necessary reforms, which have brought about a stronger exchange rate, improved FX stability, and declining inflation. He noted that Nigeria’s competitive naira has become a ‘game changer,’ positioning the country as a more attractive destination for foreign direct investment.

Supporting this view, Mohammed Sadi Abdullahi, CBN deputy governor of Economic Policy, said the apex bank has taken decisive measures to prevent speculative activities and strengthen market transparency. ‘Capital flows that collapsed by over 75 percent during 2019-2020 have now significantly improved, enhancing our external position. We now have deeper and more functional financial markets, with monthly FX turnover rising to $8.6 billion in 2025 from an average of $5.5 billion previously. The CBN is now a net buyer in the market, showing greater confidence in liquidity,’ he said.

Building a Resilient Economy

Cardoso reiterated at the annual meetings that Nigeria’s economy has been restructured to become more resilient and self-sustaining, with strong buffers against global headwinds. He noted that the naira has emerged as a competitive currency, and the country is now recording positive trade balances as businesses increasingly shift from imports to exports of locally produced goods.

According to him, this transformation reflects a broader restructuring of the economy toward domestic production and reduced import dependence. He described Nigeria’s new trade dynamics as a turning point, stating that the country now anticipates a trade surplus equivalent to six percent of GDP for an extended period.

‘The result of these reforms is that we now have a more competitive currency and a positive balance of trade surplus,’ Cardoso said. ‘We were fortunate to have implemented these tough reforms early enough to create resilience and buffers against potential shocks.’

He acknowledged that while oil remains the most exposed commodity to global tariffs, the impact has been modest. The CBN governor also commended the G-24 for fostering constructive dialogue and collaboration among emerging economies to address global challenges.

In his remarks, G-24 Chairman Pablo Quirno observed that emerging markets continue to face headwinds from sluggish global growth, declining export volumes, and shrinking foreign currency earnings. He stressed the need for stronger multilateral cooperation to support developing economies like Nigeria.

Through these measures, Nigeria, under the stewardship of the CBN, is rebuilding a stronger and more resilient economy. Despite the global oil price slump, strategic policy reforms, non-oil export growth, and local production initiatives have combined to sustain the nation’s external reserves and strengthen investor confidence, a testament to the CBN’s resolve to build lasting economic buffers amid uncertainty.