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The reopening of the National Arts Theatre marks the culmination of a landmark public-private partnership led by the Central Bank of Nigeria (CBN) and the Bankers’ Committee, which jointly committed about N68 billion to the transformation of Nigeria’s most iconic cultural edifice.

The project, hailed as one of the most significant public-private partnerships in Nigeria’s recent history, blends heritage with innovation. Originally completed in 1976 and inaugurated during FESTAC ’77, the National Theatre once stood as a symbol of African creativity. But decades of neglect left it derelict and underutilized. Now, with its rebirth as the Wole Soyinka Centre, the iconic landmark is being positioned as the anchor for Nigeria’s creative industries – spanning film, music, fashion, technology, and literature.

The ceremony, attended by President Bola Ahmed Tinubu, First Lady Senator Oluremi Tinubu, Lagos State Governor Babajide Sanwo-Olu, Nobel Laureate Prof. Wole Soyinka, members of the Bankers’ Committee and other dignitaries, was not just a celebration of bricks and mortar but a statement of intent about Nigeria’s future.

The President seized the opportunity to direct the creation of a National Arts Theatre Endowment Fund, a financial mechanism designed to guarantee continuous maintenance of the complex and prevent it from falling back into disrepair. ‘It has been a wonderful evening, and I have enjoyed myself,’ Tinubu said, adding, ‘It is now left for Cardoso and others to put together an endowment fund, and I will contribute to it. It’s not a bad thing for us to use this opportunity to create jobs, maintain accessibility, and commitment. This place will not go dry again.’

Tinubu also defended the renaming of the complex after Nobel Laureate Wole Soyinka, describing him as one of the world’s greatest cultural assets and a fitting figure for such an honour. He urged Nigerians to project positivity about their country, urging young people to renew their hope and channel their energy into rebuilding the nation.

The atmosphere reflected both pride and nostalgia. For decades, the National Theatre symbolized the promise and pitfalls of Nigeria’s cultural heritage. Built in 1976 and inaugurated during FESTAC ’77, it was once the epicentre of African creativity, hosting artists, musicians, and cultural icons from across the continent. But years of neglect left the building a shadow of its former glory, plagued by structural decay and a loss of relevance.

The turning point came in 2020 when the Federal Government approved a public-private partnership that transferred the theatre and its surrounding estate to the CBN on behalf of the Bankers’ Committee. What began as a plan to rehabilitate the monument quickly evolved into an ambitious vision to reimagine it as a world-class creative hub. The project faced numerous hurdles along the way – structural complexities, contractual disputes, and the COVID-19 pandemic stretched the timeline far beyond the initial 15 months and pushed the budget from ?21.3 billion to ?68 billion. Yet, after years of painstaking effort, the result unveiled last week was a transformation that surpassed expectations.

CBN Governor Olayemi Cardoso framed the Bankers’ Committee’s commitment as more than philanthropy, describing the investment as a deliberate intervention in Nigeria’s cultural future. ‘The Central Bank of Nigeria, the Bankers’ Committee, the Lagos State Government, and the Ministry of Art, Culture, and the Creative Economy came together with a shared purpose to deliver this national project. The Bankers’ Committee alone committed approximately ?68 billion, not as corporate social responsibility but as a deliberate investment in Nigeria’s cultural future,’ he said, and emphasized that the project demonstrated the power of collaboration between the public and private sectors in delivering national development.

The new facility preserves the theatre’s iconic silhouette while delivering state-of-the-art performance halls, cinemas, exhibition galleries, an African literature library, rehearsal studios, media and medical facilities, and modernised infrastructure. The surrounding grounds have been upgraded with gardens, outdoor exhibition areas, and improved access routes, including seamless integration with the Lagos Blue Line Metro, placing culture at the heart of city life.

The project also includes the development of a 44-hectare ‘Signature Cluster,’ consisting of four creative hubs dedicated to fashion, music, film, and information technology. Each hub is designed to operate independently but with the capacity for collaboration across sectors, a model aimed at nurturing Nigeria’s creative industries into a globally competitive ecosystem.

Governor Sanwo-Olu described the reopening as both a cultural and spiritual rebirth, recalling the historic significance of FESTAC ’77 when the venue symbolized Pan-African unity and creativity. He stressed the importance of the collaboration that delivered the project, highlighting Lagos State’s contribution of land and infrastructure, including direct rail connectivity to the site. He expressed optimism that the revitalised complex would not only celebrate Nigeria’s heritage but also attract investment, stimulate tourism, and create thousands of jobs.

Professor Wole Soyinka, visibly moved, admitted he once considered the theatre beyond redemption but acknowledged that the Bankers’ Committee had proved him wrong. ‘The Bankers’ Committee made me eat my words. With this recreation, Nigerians can now watch African theatre at home instead of traveling abroad,’ he said. For Soyinka, the project represents not just a revival of an edifice but a reaffirmation of Nigeria’s place in global cultural discourse.

Industry watchers note that the project represents a significant opportunity for the financial sector. Beyond the immediate jobs created in construction and operations, banks now have new avenues to finance cultural events, training programmes, creative enterprises, and ancillary services linked to the theatre and its clusters. Analysts argue that if properly managed, the National Theatre could become a financing hub for Nigeria’s burgeoning creative economy, estimated to contribute billions of dollars annually to GDP.

Globally, the creative economy is recognized as one of the fastest-growing sectors, driven by digital innovation, cultural exports, and youthful populations. Nigeria, with its music, film, and fashion industries already gaining global traction, is well-positioned to leverage this momentum. The rebirth of the National Theatre provides the physical infrastructure and symbolic confidence to scale this potential. Federal Government projections suggest the creative sector could generate over one million jobs, providing much-needed employment opportunities for Nigeria’s large youth population.

Still, challenges remain. Sustainability and inclusivity are critical. Many grand projects in Nigeria have failed not for lack of vision but for weak management and poor maintenance. The establishment of an endowment fund is a step in the right direction, but transparency and accountability will determine its effectiveness.

There are also questions about accessibility: will the theatre cater only to elite performances, or will it provide affordable platforms for grassroots creatives? Ensuring broad participation will be essential if the project is to achieve its economic and cultural objectives.

Yet, despite these concerns, the mood around the reopening was one of optimism. For the CBN and the Bankers’ Committee, the investment is both a show of confidence and a strategic bet on Nigeria’s soft power. For the government, it is a milestone in its ambition to diversify the economy beyond oil. For young Nigerians, it is a reminder that their creativity is not just entertainment but an economic force capable of shaping the country’s future.

The story of the National Theatre is, in many ways, the story of Nigeria itself, a tale of past glory, decline, and renewal. What began nearly half a century ago as a symbol of cultural pride has degenerated, but it is today been reborn as a beacon of possibilities. The challenge now is to sustain that vision, to ensure that the lights do not go out again, and to leverage the investment as a springboard for broader economic transformation. If successful, the Wole Soyinka Centre for Culture and Creative Arts will not just preserve the past; it will finance the future, proving that culture, when invested in strategically, can be one of Nigeria’s most valuable economic assets.

A popular Yoruba (Yoruba is a language spoken in sub-Saharan Africa) anecdote metaphorically describes a self-centred leader who browbeats colleagues in the workplace with exaggerated strategic skills as ‘the leader who rides on an illusory powerful horse’ without being conscious of the fact that its (the horse’s) weight can be likened to that of a cockroach.

The ethos or fundamental values of a leader should begin with acknowledging his strengths and blind spots (or weaknesses).

A leader wins with the team. Collaboration over individualism defines success in the corporate world. Leaders should be careful never to be swept away by power and fame.

Vulnerability is not weakness, stigma or taboo. Nobody is perfect. Nobody knows all the answers. Leaders make mistakes. They do wrong things. They say wrong things.

Leaders must however, learn from mistakes. Failure is life trying to redirect your path. Do not be a victim of that infallible foresight or that misleading notion that leaders do not make mistakes.

As a well-tested businessman and proven entrepreneur, I have faced uncertainties, negative portrayals, risks and struggles. These experiences have proved clearly to me that they are lessons to be learnt, stepping stones to greater successes and springboards to value-assuring transformation. Navigating through uncertainties and weathering very challenging storms are refining processes and tests of resilience.

The leader gains perceptive insight from these experiences, which are non-linear because they do not follow logic. You must find the steps in yourself as a leader who is aware and proud of his strengths but never afraid of his weaknesses. These experiences of resilience, deliver to you introverted intuition, which, on a daily basis, differentiates you as a thoroughbred leader who works smarter, move things forward, make things happen and get things done.

Several years ago, I was invited by the Lagos Business School to deliver an intellectual paper at its breakfast special meeting for leaders of Nigeria’s banking industry, top economic officials of the diplomatic corps and business gurus. The topic was ‘Restructuring the Nigerian Insurance Industry: Will it complete the Financial Sector Loop?’

Of course, I did justice to the paper but what was the fall out? The short but instructive lecture became a prompt for top leaders of Nigeria’s banking industry to revive their comatose insurance departments. Some even created new insurance departments in their establishments and the result, my organisation almost totally lost control of its greatest source of inflow, motor insurance. We sought and considered multiple perspectives for new decisions from team members. We won!

The leader is the captain of other stars in his organisation. He must regularly tap into the profound impact of humility, trust, genuine connections and teamwork. Collaboration is engendering and promoting professional relationship within the organisation. The leader must encourage opposing views and dissenting opinions. There must be relational transparency with colleagues. This must be unfiltered and must create adequate accommodation for vulnerability. The leader must be ‘real’ with his team members and should occasionally share with them stories of challenges and failures. He should regularly use this window to demonstrate vulnerability and transparency. He is the moral compass that is constantly guiding and in alignment with the values of his organisation.

The leader’s multiple successes must shine brighter than the metrics. He must always inspire the team to generate ideas and co-create.

Our LBS experience ‘gave birth’ to very creative ideas and actions. My company with the support of our American partners started selling the popular brands of cars with full comprehensive insurance policies and even tailor-made life assurance for those who bought the cars with lease arrangements.

We also successfully graduated into an outcome-based partnership with the Nigeria’s Airports Car Hires Association (ACHAN) and supplied taxicabs (with lease arrangement and tailor-made life assurance) to all the airports in Nigeria. We collaborated with Lagos and Ekiti state governments for supply and fleet management of mass transit buses. Let me also mention the ‘miracle’ of Liberia. As a result of the country’s tortuous civil war, there was no public transportation whatsoever. We stepped in and shipped knocked-down parts of motorcycles. We assembled them there and sold them to Liberian citizens with the support of their government.

Please note that even science and technology thrive on experimenting and growing knowledge by learning from mistakes. Vulnerability is the catalyst for growth and development. That is why leaders must broaden their focus and embrace multifaceted and multi-dimensional approach to decision-making.

An ‘authentic’ leader starts his daily activities with self-reflection. He learns from mistakes and acknowledges as well as work with the talents and gifts of his colleagues. He creates a work environment that promotes trust, resilience and meaningful change.

The leader must always own up to not knowing everything. He must find answers by listening to the ‘collective voice’, his team. His determination and courage for excellence must propel him to protect his team and be transparent to the members. There is a coaching guide for leaders. He must recognise the potential of his team members. He must help them become better versions of themselves. Colleagues must recognise their strengths but not get complacent. They must also vividly see their weaknesses but not get discouraged. A leader must build people up, never tear them down.

Leaders should not just provide technical solutions in order to showcase expertise. Running a successful organisation is about people, not just problems.

The human capital is the foundational differentiating value in an organisation. Your people are the ‘value’ not only in productivity but also in the profitability loop. The leader must understand them as much as the problems.

Energy, vibrancy, passion, talent and skills must run side-by-side with emotional resilience and emotional vulnerability.

Telecoms service provider, MTN Nigeria, and three of its executives emerged as winners at the Edge Awards, organised by Marketing Edge, in Lagos.

While the telecom company was named Brand of the Year, reaffirming its reputation as one of Africa’s most admired and influential companies;its Chief Marketing Officer, Onyinye Ikenna-Emeka, was recognised as Brand Personality of the Year.

The company’s Senior Manager, External Relations, Funso Aina, received the award for Outstanding Public Relations and Corporate Communications Personality of the Decade; while Lakinbofa Goodluck, the company’s Public Relations Manager, was named Outstanding Public Relations Personality of the Decade.

Reflecting on the award, Aina attributed the feat to ‘the support of his incredibly exceptional team’ at MTN.

The recognitions, widely viewed as a strong reflection of MTN Nigeria’s leadership, depth of talents and ensuring culture of innovation, come against the backdrop of the company’s strong performance in 2025, with its Half Year 2025 results revealing ?2.4 trillion in service revenue and ?83.2 billion profit after tax, despite the challenging challenging macroeconomic environment.

First City Monument Bank (FCMB) Group Plc has opened a N160 billion public offer to bolster its capital base and enable its banking subsidiary, First City Monument Bank Limited, to retain its international banking licence under the Central Bank of Nigeria’s (CBN) new recapitalisation policy.

The offer, which consists of 16 billion ordinary shares priced at N10 each, will run until November 6, 2025. The proceeds will be channelled toward meeting the CBN’s new N500 billion minimum capital requirement for international banks, as part of the regulator’s ongoing sector-wide recapitalisation drive.

This new raise marks the second phase of FCMB’s three-stage capital plan and follows its N147.5 billion share sale in 2024-the bank’s first equity offering in 16 years. That 2024 exercise was oversubscribed by 33 per cent, attracting 42,800 investors, 92 per cent of whom participated digitally. Market analysts expect similar investor enthusiasm for the 2025 offer, given FCMB’s strong performance and improving investor sentiment in the banking sector.

FCMB Group has recorded impressive growth over the past three years. Between 2022 and 2025, group profit before tax (PBT) rose at a compound annual growth rate (CAGR) of 72 per cent, reflecting the group’s strengthened operational efficiency and diversified income streams.

Non-bank subsidiaries also delivered remarkable results, with a 61 per cent PBT CAGR. The standout performers include Credit Direct Finance Company Limited, Nigeria’s largest non-bank lender, and FCMB Capital Markets Limited, which ranked top of the FMDQ fixed income league table for bond listings and commercial paper issuances in the first half of 2025.

Digital transformation has been another major growth catalyst. FCMB’s digital revenues have grown by over 58 per cent annually since 2022, now accounting for 13.9 per cent of the group’s total gross earnings. As of June 2025, digital lending represented 9% of the total loan portfolio, underlining the bank’s ongoing transition toward technology-driven banking services.

Analysts describe FCMB’s stock as offering ‘a rare blend of deep value and high growth,’ noting its estimated 2025 price-to-book ratio of less than 0.6x-an attractive valuation compared to peers in the Nigerian banking sector.

Upon completion of the current share sale, FCMB Group plans to finalise the sale of minority stakes in two of its non-bank subsidiaries. The proceeds from these divestments will also be injected into the banking arm, further strengthening its qualifying core capital.

This combined effort is expected to lift FCMB’s total capital above the ?500 billion threshold required to maintain its international banking licence, effectively closing the group’s recapitalisation programme ahead of the CBN’s March 2026.

The International Monetary Fund (IMF) has urged countries to adopt regular stress tests for central banks to better determine how much capital they need to maintain financial resilience and institutional credibility.

In a new policy blog titled ‘Stress Tests Can Help Determine How Much Capital Central Banks Need’, IMF economist Romain Veyrune said the approach would help clarify appropriate capitalization levels for central banks-institutions that, while they cannot go bankrupt, still face risks that can erode their independence and credibility.

‘Unlike commercial banks, central banks do not have prescribed minimum capital requirements. They can issue currency to meet their payment obligations, but weak capital positions can undermine confidence and independence,’ the IMF noted.

According to the IMF, balance sheet risks at central banks were once minimal but have grown substantially since the global financial crisis (GFC) and the COVID-19 pandemic, when many banks expanded their balance sheets through large-scale asset purchases to stabilise economies.

Those actions helped avert deeper recessions, but they also exposed central banks to interest rate, credit, and foreign exchange risks. As interest rates later rose sharply, many central banks recorded significant valuation losses on long-term bonds purchased during low-yield periods.

‘These losses are not a measure of policy failure,’ the IMF said, ‘but they underscore the need to strengthen frameworks for managing balance sheet risks,’he said.

The IMF observed that most central banks’ laws and bylaws offer little guidance on how capital should evolve in response to inflation or economic growth. Many institutions maintain fixed authorised capital, which becomes outdated over time, while rules for profit distribution are often rigid or arbitrary.

Some central banks are legally required to retain profits until they reach a minimum capital threshold-typically between 8% and 20% of base money-but the IMF noted that these limits are not based on clear risk assessments. Others have no formal capital rules, leaving such decisions to their governing boards.

‘Existing legal provisions can lead to either excessive or inadequate capital buffers,’ Veyrune explained, adding that greater transparency and consistency are needed to ensure that capital levels align with the evolving risk environment.

To address these gaps, the IMF proposes using stress-testing frameworks-similar to those applied to commercial banks-to simulate how a central bank’s capital would behave under different economic shocks.

The Fund’s new quantitative model, building on earlier research by economists Robert E. Hall and Ricardo Reis, evaluates how capital could evolve under stress scenarios involving changes in interest rates, credit risk, and exchange rate movements.

The model also incorporates inflation dynamics and macroeconomic variables to determine the capital levels needed to absorb ‘large but plausible shocks’ without compromising institutional credibility.

The IMF said that stress testing could serve multiple purposes; helping central banks decide when to retain profits to build capital buffers; clarifying when and how profits can be distributed without undermining solvency.

While some central banks may view weak capital positions as a threat to their independence, others may see limited risk. Even so, the IMF argued that stress testing enhances public accountability by providing a clearer picture of how monetary policies affect financial resilience.

To support implementation, the IMF has published a Guidance Note on Central Bank Stress Testing and is providing technical assistance to member countries, including South Africa, to strengthen their institutional frameworks.

‘Ultimately, stress testing offers a forward-looking approach to safeguarding central banks’ balance sheets,’ the IMF concluded, ‘ensuring they remain strong enough to pursue their mandates effectively, even in an era of heightened financial and economic uncertainty.’

The Central Bank of Nigeria (CBN) has reaffirmed its commitment to expanding financial inclusion while strengthening the banking system through its ongoing recapitalisation programme.

Speaking at the Lagos Business School’s inaugural lecture on Friday, CBN Governor Olayemi Cardoso said the reforms are necessary to build resilience, deepen access, and ensure banks are capable of supporting sustainable economic growth.

‘Access to financial services has risen from 56 percent in 2020 to over 64 percent in 2025, largely due to mobile and agency banking. But inclusion must go hand in hand with resilience. That is why we have commenced the recapitalisation of banks,’ Cardoso said.

He explained that a stronger banking system would be better positioned to withstand shocks, finance large-scale investments, and support Nigeria’s economic diversification agenda. The recapitalisation drive, he noted, is not just about meeting prudential ratios but about preparing the sector for future challenges.

Cardoso also highlighted efforts to connect the Nigerian diaspora to the domestic financial system, citing the introduction of the Non-Resident BVN platform which allows Nigerians abroad to open accounts seamlessly. ‘This will unlock more remittance inflows and investment channels,’ he said.

He added that the CBN was prioritising the digital economy by developing regulatory frameworks for payments, credit, and savings platforms. ‘The leaders who will thrive are those who embrace innovation while ensuring stability, inclusion, and trust,’ he told the audience.

According to Cardoso, inclusive growth remains at the centre of monetary policy. ‘Price stability is essential, but in a young country like Nigeria, it must also foster opportunity and expand access to finance for all,’ he said.

Despite significant macroeconomic headwinds, including inflationary pressures and high interest rates, a frontline pharmaceutical company, Me Cure Industries, remained resilient and recorded notable progress across key financial and operational metrics in the financial year ended December 31, 2024.

The company’s revenue rose impressively by 45 percent, increasing from N31.7 billion in 2023 to N46 billion in 2024, driven by a strong focus on cost optimisation, product innovation, and regional market expansion.

Although profit before tax declined moderately by 8.3 percent to N3.3 billion, down from N3.6 billion in 2023 due to tough operating environment, shareholders were rewarded with a dividend payout of N600 Million, translating into 15 kobo per share, Similarly, profit after tax decreased by 20 percent, from N2.9 billion to N2.3 billion, he said.

‘This performance underscores the dedication, innovation, and adaptability of our management and staff in navigating a challenging business landscape. During the year, we launched 10 new products and commenced exports to neighbouring West African markets, further deepening our regional presence. In line with our growth strategy, we continued significant investments in facility upgrades to meet global Good Manufacturing Practice (GMP) standards. Our Lagos industrial complex now houses six standalone, NAFDAC-approved production plants, enhancing output capacity across tablets, capsules, and syrups.

‘On the innovation front, our in-house Research and Development team continued to develop new products, several of which are now awaiting regulatory approval from NAFDAC. We remain committed to the highest standards of corporate governance, transparency, and ethical conduct. Throughout the year, the Board worked closely with management to strengthen internal controls, ensure regulatory compliance, and manage emerging risks. In alignment with the Nigerian Code of Corporate Governance and international best practices, our governance structure continues to evolve. We are prepared to take advantage of emerging opportunities,’ stated the Company’s Chairman, Samir Udani at the Company’s Annual General Meeting in Lagos at the weekend.

Shareholders commended the performance against the backdrop of the inclement operating environment. Co-ordinator, Pragmatic Shareholders Association, Bisi Bakare said: ‘ Despite the challenges in the economy, Me Cure was able to grow its revenue by 45 per cent. This shows resilience. The company also rewarded the shareholders with 15 kobo dividend per share. This is also commendable. Itsinvestment in 10 new products will boost revenue in the nearest future.’

Another shareholder also noted that the decision of the founder of Me Cure Industries to invest in Nigeria would encourage more foreign investors to do the same. He commented the initiative and advised shareholders to patronise the company’s products as a way of supporting its operations. The shareholder urged the Company to take advantage of the new government policy on tariffs to boost its operations and expand activities to more African countries.

In recent times, Nigeria’s macroeconomic trajectory has seen a remarkable turnaround, drawing praise from multilateral agencies, economists, and global investment leaders. The World Bank, Moody’s, Dr. Ngozi Okonjo-Iweala, Prof. Chukwuma Soludo, Governor Alex Otti, and Adebayo Ogunlesi are among the voices recognizing the country’s bold steps toward economic reform and stabilization.

The World Bank’s ‘Building Momentum for Inclusive Growth’ report highlighted a significant improvement in Nigeria’s fiscal outlook. The fiscal deficit has narrowed substantially from 5.4% of GDP in 2023 to 3.0% in 2024, a powerful indicator of fiscal discipline and policy coherence. Complementing this development, Moody’s upgraded Nigeria’s credit rating from Caa1 to B3. Fitch also upgraded the country’s rating to B from B- with a stable outlook, further affirming renewed investor confidence and macroeconomic stabilization.

Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, commended the Tinubu administration’s efforts, stating, ‘You can’t really improve an economy unless it’s stable.’

Prof. Chukwuma Soludo, former Governor of the Central Bank of Nigeria, also lent his voice in support, stating: ‘The audacious structural reforms embarked upon by the current administration of HE Bola Ahmed Tinubu have rescued the economy from the tipping point.’

Similarly, Governor Alex Otti, a seasoned banker and former Managing Director of Diamond Bank, acknowledged that while the reforms have been tough, they are essential to placing Nigeria on a sustainable growth path.

Adebayo Ogunlesi, a globally respected investment banker and founding partner at Global Infrastructure Partners (GIP) now part of BlackRock, the world’s largest asset manager, remarked that ‘Nigeria is now a place that is exciting to invest in.’

However, well before the current administration took office in May 2023, AACS a Nigerian consulting firm specializing in strategic disruption and led by Dr. Ayo Abina, had already emphasized the urgent need for comprehensive reforms. In a series of policy briefs and publications but specifically in April 2023, AACS had in its ‘Fortnightly ‘ and media interviews ‘(tinyurl.com/ter6u5jh, tinyurl.com/2s3jybv9,lnkd.in/eiRE9A6S), identified six critical areas and reforms that were a sine qua non to drive Nigeria’s economic recovery and macroeconomic stability:

– Revenue Generation: Implementing fiscal reforms to sustainably increase government revenue

– Oil Subsidy Removal: Phasing out fuel subsidies while cushioning the impact on vulnerable groups

– Exchange Rate Realignment: Allowing the naira to reflect its true market value to improve transparency and investor confidence

– Oil Theft Reduction: Tackling crude oil theft to boost revenue and minimize economic losses

– Infrastructure Development: Specifically investing in power to unlock growth

– Tackling Insecurity: Strengthening security to attract investment and reduce disruptions to economic activity

AACS emphasized the importance of political will and transparency in implementing these tough reforms, which are not attributes in abundance within the political class. The reforms were not going to be popular or the politically correct thing to do, but it was the right call by leadership interested in the long term stability of a nation on the brinks. The firm also advocated for local government autonomy t.ly/KjI3h, education loans bit.ly/4o0AyZx, state police (bit.ly/4pTgTwj), and a reduction in interest rates to drive growth. Indeed, AACS on 23rd of September 2025 called for a 50 basis point reduction in interest rates once the data showed a disinflation trend (bit.ly/4qcYkUn). These reforms are not ideally rocket science but where the data led. Today, all top analysts can agree with this position especially as the result is now evident.

While Nigeria’s economic stability is a welcome development, challenges persist especially in the hardship and sacrifices of the citizenry, and the leadership must work through them. The government must also improve its optics and more aggressively introduce intervention policies to support the vulnerable. The focus on reforms must remain laser-sharp as Nigeria marches toward its rightful place in the comity of nations. One of the most important attributes of leadership is not to pander to what is politically correct but what will ultimately benefit the people no matter how difficult it may be.

AACS speaks objectively to the data, pushes where it leads and bells the cat . AACS was ahead of the curve, our blueprint on the reforms was right and we believe it would still take the nation and its people to prosperity if we remain resilient.

There is growing disquiet in the fledgling African Democratic Congress (ADC) over rumoured move by former presidential candidate of the Labour Party, Peter Obi, to seek another platform ahead of the 2027 general elections.

According to media reports, over the weekend, the former Anambra State Governor is considering dumping his new platform, the ADC for the Action Alliance.

Responding to insinuation that the former presidential candidate of the LP has a new party on the card, National Coordinator of the Obidient Movement, Dr Yunusa Tanko told Nigerian Tribune that he was not aware of such move by the former presidential candidate of the LP.

He said: ‘At the moment, it isn’t on my desk. I know he still has a good working relationship with leadership of the coalition. We will wait till after the governorship election in Anambra State.’

Dr Tanko declared that the ADC must swim with the tide of zoning of presidential ticket to the Southern part of the country.

‘We have made our position known; the ADC must be all-inclusive. If you are looking for a presidential candidate, it must be from the South,’ he said.

Asked if Peter Obi would review his relationship with the party once stakeholders insist on throwing the presidential ticket open to all the regions, the former campaign spokesman of Peter Obi said: ‘If ADC doesn’t zone, it is within his (Obi’s) right to decide what to do.’

One of the aides of the former Anambra State governor, who pleaded not to be named, spoke in the same vein as he declared that seeking a new political party where he could secure a presidential ticket should not be foreclosed.

He said: ‘Is it a crime to seek another platform? From what is on the ground in ADC, it will be difficult for him to make headway. Everyone knows who is likely to emerge as ADC candidate. So, no one should blame Peter Obi if he decides to walk away from a trap,’ he argued.

He could however not confirm if the AA was his principal’s settled choice.

Speaking on the development, a member of the interim National Working Committee of the party, who spoke in confidence with Nigerian Tribune, declared that the party’s national secretariat was not taken aback over reported moves by Peter Obi to ditch the ADC.

The national officer dismissed claims by Peter Obi supporters and closest aides that former vice president and former presidential candidate of the PDP, Atiku Abubakar, appears most-favoured for the ADC presidential ticket.

He accused Obi of running away from a presidential convention, in spite of the fact that the party leadership conceded to his choice for the office of national organizing secretary.

He said: ‘What kind of democrat is he that he is running away from primary?

‘We have done everything to appease him to stay, to build this coalition. We asked him to submit his choice for the office of National Organising Secretary! That’s the most important position in the party. We have done everything to appease him. If he now feels that he can’t get what he wants, he is free to go.’

In a startling revelation, the ADC national officer disclosed that Obi has suggested to the leadership that the ADC presidential candidate should emerge through an opinion poll to pick the most popular among the presidential aspirants.

He said: ‘For us, we are not desperate to have him. We want to build a formidable opposition party where discipline is instilled and members subordinate themselves to party organs.

‘We have a party to build and we can’t continue to pander to his demands.

‘The feat he recorded in the last general elections was as a result of disaffection that trailed the APC Muslim- Muslim ticket. Those who galvanised support for him are no longer with him.’

Expect a three-horse race – Okorie

Former chieftain of the All Progressives Grand Alliance (APGA), Chief Chekwas Okorie, in a telephone interview, told Nigerian Tribune that the former presidential candidate of the LP knew that he stands no chance for the ticket of the ADC.

He said: ‘For all I know, he has never been a card-carrying member of the party. Yes, everybody knows he has been romancing the party, attending their meetings but he hasn’t declared formally.

‘He has announced to Nigerians through his X handle, which I read, that he would formally announce a political platform in November. He was definite that he will run for President.

‘Peter Obi knows that if he pitches his tent in ADC, he can’t win. The ADC candidate will emerge through a delegate process and he can’t muster the number. What’s the total number of local government in Southeast?

‘Yes, he has become a beautiful bride being courted by two or more political parties, especially the PDP.

‘So, let us wait till November. All I know is that 2027 will be a three-horse race: Atiku will certainly pick ADC ticket, the incumbent President, Bola Ahmed Tinubu, will emerge as APC candidate and Peter Obi in another party.’

Stakeholders in the nation’s hospitality sector have stressed the need for government to give brands in the ecosystem the much-needed support that would enable them play their role as catalysts for economic growth.

The stakeholders, in different chats with Brands and Marketing, at the just-concluded Hotel Expo Nigeria (HEN), in Lagos, therefore, appealed to government to promptly address the twin issues of insecurity and infrastructure, that continue to serve as huge hindrances to the growth of the sector.

The Founder and Convener of HEN, Jonathan Hansen, noted that if the government is truly desirous of ramping up its employment-generation drive, it has become imperative to give brands and operators in the hospitality business the much-needed support, since the sector remains the largest employer of labour.

The hospitality enthusiast explained that one of the reasons for starting the annual exhibition of brands in the sector, is to create awareness for the sector and provide a platform, annually, for operators to network.

He expressed the delight that the event, which made its debut in 2019, with 14 participants, is beginning to gain tractions, with 65 brands, leveraging the platform, this year, to network and establish enduring business partnerships.

‘While government partnership has not been easy, but we believe this is an industry government should see as a driver of employment creation, since the ecosystem is seen as the highest employer,’ he added.

While also calling on government to pay more attention to the sector, Hospitality Business and Inventory Management Consultant, Ntewak Umoh, believed the exhibition offered vendors the opportunity to come together to provide wide range of businesses and offerings that, ordinarily, would have been difficult to access at a spot.

The CEO, GateHub, Vera Ohioma lauded the organisers for being consistent in delivering connection and engagement, a development, she added, had enhanced the fortunes of the industry, and enabled if contribute its quota to the development of nation’s economy.