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The National Commission for Museums and Monuments (NCMM) has signed a Memorandum of Understanding (MoU) with Crimson Fusion Curators to embark on a monumental documentation project: ‘A Window into the Soul of a People: 8,000 Years of Art in Nigeria.’

This is a landmark step to safeguard and celebrate Nigeria’s cultural identity.

Project scope

The initiative will trace the unbroken story of Nigerian creativity – from the 8,000-year-old Dufuna Canoe and Nok terracottas, through the luminous bronzes of Ife and Benin, to the bold visions of contemporary artists shaping the global stage. Projected to span over 750 pages, the archive will be one of the most ambitious scholarly and visual undertakings in the history of Art in Nigeria.

Voices of leadership

At the MoU signing, Olugbile Holloway, director-general of NCMM, underscored the significance of the collaboration: ‘This initiative will go a long way in dispelling the misconception of us being primitive or unable to create enduring masterpieces. Even when the Ife heads and Benin bronzes first stunned the world, deliberate efforts were made to deny Nigerians full credit. This partnership is about reclaiming that narrative and presenting our heritage as it deserves to be seen.’

For Oriiz U. Onuwaje, griot, designer, curator, and publisher, the project is the continuation of a lifelong commitment to heritage storytelling. He created and edited ‘The Benin Monarchy: An Anthology of Benin History’ – popularly known as The Benin Red Book – which has become a touchstone of Nigerian cultural preservation.

Reflecting on the new MoU, Onuwaje said: ‘Our art must be properly recorded and presented because documentation is not a luxury – it is cultural survival. When we strengthen our claim to it, we unlock its economic potential and assert our identity as the art superpower we truly are. In over 35 years in this business, I have not seen an art economy truly blossom in Nigeria – the simple reason is a critical lack of documentation.’

Broader context

The initiative also builds on the experience of The Intersecting Worlds of Climate Change, the Mangroves and Art – a 2025 exhibition that fused environmental consciousness with artistic expression – underscoring the team’s commitment to using art as a lens for identity, sustainability, and resilience.

Culture strategists

To strengthen its scope, Crimson Fusion has assembled leading culture strategists and consultants. Professor Frank Ugiomoh, Chief Technical Consultant, affirmed that when Nigerians take ownership of their narratives, they tell their stories with authority and authenticity. Olaseinde Odimayo, Technical Consultant on Traditional and Contemporary Art, pledged his commitment to elevating Nigerian art to the highest possible level. Solomon Ikhioda, consultant on Design and Strategy, projected that with the right framework, Nigeria will soon see art reach unprecedented levels of market value and investment potential.

Conclusion

By combining NCMM’s institutional authority with Crimson Fusion’s editorial expertise, the partnership signals a vision of heritage as more than memory. It positions Nigerian art as a living archive – a driver of tourism, education, cultural pride, and national renewal.

Governor Babagana Zulum Borno State has expressed concerns that if the Military does not scale up security around borders communities, the security situations at the border areas and the Borno State might get worse.

The governor expressed the fear following the rampaging attacks by the outlawed Group, the Boko Haram terrorists and its arch-rival Islamic State of West African Province (ISWAP) fighters which occurred around Bama and Gwoza axis in Borno State recently.

BusinessDay had reported how the terrorists attacked several locations, including Darajamal in Bama Local Government Area and Banki and Kirawa on fringe of Nigeria-Cameroon border community in Bama and Gwoza Local Government Areas, claiming the livies of over 65 civilians aside wanton private and public structures raze down.

Also, Governors Babagana Zulum of Nigeria’s Borno State and Mahamadou Ibrahim Bagadoma of Niger Republic’s Diffa Region had last Wednesday held a closed-door meeting in Diffa to re-strategise and find lasting security solutions around the Lake Chad shores.

Their discussions reportedly centered on joint patrols, intelligence sharing, and sustaining the recent gains that had pushed insurgents out of many of their former strongholds.

But, speaking on the frightening resurgence of terror attacks, Governor Zulum charged the Nigerian Armed Forces to scale up military operations in Borno State to avert the possibility of terrorists reversing the gains recorded so far.

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‘I am appealing to the Nigerian Armed Forces to be more committed. Above all, we need military operations. For sometime, military operations were not conducted in Borno State.

‘This has been instrumental to the renewed insurgency. We need to take note of one very important thing, continued military operations. There is need for us to sustain our military operations’, Governor Zulum said.

Sharafadeen Alli, an All Progressives Congress (APC) Senator that represents the Oyo South Senatorial District, has urged Governments at all levels to prioritise teachers’ welfare, training and working conditions to ensure improved productivity and sustainable educational standards.

The lawmaker while felicitating teachers across Nigeria on the occasion of the 2025 World Teachers’ Day, described them as nation builders and torchbearers of knowledge.

In a statement issued by his media office and made available to newsmen on Sunday in Ibadan, he reaffirmed his commitment to supporting legislative efforts and policies that would uplift the teaching profession, adding that investing in teachers was synonymous with investing in the nation’s future.

Alli commended teachers for their invaluable contributions to national development despite daunting challenges.

He said teachers remain the backbone of every thriving society, shaping minds, nurturing talents, and instilling values that form the foundation of a progressive nation.

He emphasised that teachers deserve greater recognition and motivation, considering their pivotal role in moulding future leaders and driving societal advancement.

Alli urged the private sector and well-meaning Nigerians to also support educational initiatives that empower teachers and enhance learning outcomes.

The senator congratulated all teachers for their steadfastness, patience, and dedication to duty, assuring that their labour of love would not go unrewarded.

He prayed for their continued strength, wisdom, and divine favour as they continue to impact generations positively.

Ayo Balogun, a former Nigerian Air Force officer has raised alarm that terrorism in Nigeria is being sustained not only by illicit funding networks but also by deep-rooted religious loyalties within the security forces and political class, a dangerous mix he says is undermining national security and crippling the country’s decade-long fight against insurgency.

Balogun, who spoke with BusinessDay in Abuja, said that while some military commanders have been accused of selling weapons to insurgents, the problem goes beyond corruption and points to divided allegiances within the system.

‘Some revelations are coming out that commanders and top officials are actually selling weapons to Boko Haram. But the issue is deeper than just selling arms, religion has become a major factor keeping the insurgency alive’, Balogun said.

The retired officer explained that unlike the Niger Delta militancy or other economic-based conflicts that could be resolved through negotiation and incentives, Boko Haram’s ideology is rooted in religious extremism, a problem, he said, ‘lies in the heart’ and is far more difficult to defeat.

‘You can always talk your way out of economic insurgencies if you give people the right incentives. But when an insurgency is religious, it becomes a matter of faith and conviction. No amount of money can make an indoctrinated person drop that belief’, he said.

He warned that religious and territorial conflicts are the most dangerous forms of crises, often tearing nations apart.

‘If you are fighting because of land, it’s serious. If you are fighting because of religion, it’s even more serious. Those are the two types of problems that can destroy a country,’ Balogun said.

Commenting on recent reports that some Nigerian Army officers were caught selling weapons meant for frontline operations to insurgents, Balogun said such betrayals thrive partly because some soldiers sympathise with the enemy due to shared religious beliefs.

‘A soldier who is a staunch Islamist may see insurgents as his religious brothers. There’s already a conflict of interest,. ‘They are human beings before they are soldiers. That’s what makes this conflict very complicated.’

He added that this dynamic also extends to politicians and government officials, some of whom, he said, may be reluctant to confront insurgents decisively because of religious affiliations.

Balogun drew parallels with other global and local conflicts, noting that wars driven by economic interests, such as the civil wars in Sierra Leone and the Congo or the Niger Delta militancy, were easier to resolve through negotiations, incentives, or amnesty programmes.

‘When the Niger Delta militants were fighting, the government offered training, compensation, and engagement. It worked because it was economic. If the Boko Haram crisis were economic, it would have been solved long ago’, he explained.

He contrasted this with the peaceful resolution of Nigeria’s territorial dispute with Cameroon under former President Olusegun Obasanjo, noting that diplomacy and compromise ended what could have been a prolonged war.

‘If Obasanjo hadn’t gone to the World Court over Bakassi and accepted the ruling, we’d still be at war today.

‘That’s the difference between a territorial conflict and a religious one. Religion doesn’t bend easily’, Balogun said.

The former officer also linked the resilience of Boko Haram to foreign support networks.

According to him, intelligence reports and past military briefings have consistently shown that much of the funding and ideological backing for religious extremism in Nigeria comes from outside the country.

‘The funders of religious fundamentalism are mostly from the Middle East countries. There is clear evidence of external influence. Even the Chief of Defence Staff once admitted it’, he said.

Balogun said these external forces exploit Nigeria’s porous borders and weak internal controls to fuel instability, adding that religious indoctrination and foreign funding make the insurgency far harder to contain.

He urged the Nigerian military to focus on professionalism and loyalty to the Constitution above personal or religious sentiments, warning that divided allegiances within the ranks could prolong the insurgency indefinitely.

‘The only hope is for soldiers to be professional. Once a soldier allows religion to dictate his loyalty, the war is already lost’, he said.

Balogun’s was reacting to the reports that some Nigerian military officers have been caught selling weapons to insurgents and bandits, with recent court-martials confirming the depth of internal sabotage within the armed forces.

According to report, a soldier who recently returned from Maiduguri, Borno State, disclosed that he once buried unexpended rounds of ammunition rather than risk being caught with them.

According to him, soldiers in the North-East theatre of operations face strict accountability for weapons but some still find ways to divert military supplies into the black market.

Another army officer confirmed witnessing the arrest of soldiers caught attempting to sell arms to Boko Haram insurgents in Maiduguri.

The officer, who spoke anonymously, described the situation as ‘a dangerous breach of trust that endangers fellow troops and undermines national security.’

The disturbing revelations align with earlier concerns raised by Nuhu Ribadu, National Security Adviser (NSA), who in October last year publicly condemned the infiltration of Nigeria’s security system by corrupt officials.

Speaking during the destruction of confiscated arms by the National Centre for the Control of Small Arms and Light Weapons in Abuja, Ribadu blamed the circulation of illegal weapons on internal sabotage within security agencies.

Ribadu cursed officers aiding the illicit trade, accusing them of betraying their oath of service.

He said a significant portion of the arms used by terrorists, bandits, and kidnappers across the country were originally government property but found their way into criminal hands through compromised personnel.

‘The proliferation of small arms and light weapons remains a major threat to our national security,’ Ribadu warned, adding that the menace was worsened by ‘merchants of death and evil’ operating both within and outside Nigeria.

According to Balogun, the recurring cases of arms diversion and internal sabotage continue to raise questions about accountability and oversight within Nigeria’s security architecture, even as the country battles to curb terrorism, banditry, and other violent crimes.

QNET, the global lifestyle and wellness company, has received international acclaim for its sweeping consumer protection initiative across Africa.

The global spotlight on QNET’s initiative comes amid growing concern over the economic and emotional toll of fraud worldwide.

According to the 2024 Global State of Scams report by the Global Anti-Scam Alliance (GASA) and Feedzai, global losses from scams are estimated at over $1.03 trillion in the past year, underscoring the urgent need for corporate-led consumer protection campaigns.

The company’s ‘QNET Against Scams’ campaign, a bold multi-country effort to combat brand misuse and educate communities on identifying fraud, earned a Gold Stevie® Award at the 22nd Annual International Business Awards (IBAs), reaffirming QNET’s leadership in promoting transparency and consumer safety.

QNET clinched three awards for its impactful communication and social responsibility efforts, at the 2025 IBAs. The company won the Gold Stevie® Award in the Brand/Reputation Management category for ‘QNET Against Scams: Rebuilding Trust Through Crisis Communication and Public Education in Ghana’, a Silver Stevie® in the Public Service category for the same campaign, and a Bronze Stevie® for ‘V-Africa 2025’, its flagship convention aimed at empowering entrepreneurs across the continent.

Launched in Ghana in 2024 and later expanded to Senegal and Sierra Leone, the QNET Against Scams campaign tackles the growing misuse of QNET’s name by fraudulent individuals and syndicates who mislead communities with false promises of jobs, visas, and quick profits. The initiative combined grassroots engagement, law enforcement partnerships, and multimedia outreach, including radio and TV spots, billboards, comic-style flyers, social media content, and dynamic street activations featuring roller-skating teams, to educate the public and rebuild trust in legitimate direct selling.

QNET’s collaboration with authorities such as Ghana’s Economic and Organised Crime Office (EOCO), the Ghana Police Service, and the Immigration Service, as well as partnerships with Nigeria’s Economic and Financial Crimes Commission (EFCC), has strengthened regional efforts to protect consumers and curb impersonation schemes. The campaign also introduced a dedicated Scam Alert portal, empowering individuals to verify claims and report fraudulent activities linked to misuse of the QNET brand.

The impact has been significant as tens of thousands of people across major cities engaged through outdoor activations and educational events, while widespread media coverage amplified the campaign’s reach and reinforced public vigilance against scams.

Speaking on the recognition, Trevor Kuna, chief marketing officer of QNET, said, ‘These awards are a validation of our efforts to fight back against those who misuse our brand name to defraud others. We are determined to protect the communities in which we operate and rebuild trust with our customers and stakeholders. Together, they affirm our commitment to responsible entrepreneurship and the values that drive us forward.’

Through its award-winning efforts, QNET continues to set a new benchmark for ethical business conduct and brand accountability in Africa’s direct selling sector, demonstrating that the fight against fraud is not just a legal obligation, but a shared responsibility to safeguard livelihoods and rebuild public trust.

A debate is brewing within Nigeria’s tax community, sparked by a proposal for a new certification process for tax practitioners. The initiative, touted as a means to enhance competency, integrity, and self-compliance within the profession, involves a new examination, recertification requirements, and the establishment of a government-managed portal for ‘approved’ practitioners. However, the plan has raised eyebrows, with many questioning its necessity and potential implications for existing professional bodies like the Institute of Chartered Accountants of Nigeria (ICAN), the Chartered Institute of Taxation of Nigeria (CITN) and the Association of National Accountants of Nigeria (ANAN).

The fundamental question at the heart of this debate is whether the proposed new certification is truly needed. Critics argue that ICAN, ANAN, and CITN already fulfil the objectives that the new system seeks to achieve. These professional bodies administer rigorous examinations and internship programmes to assess the competency of aspiring tax practitioners. They also issue practice licences, which are essential for engaging in tax-related services. Furthermore, ICAN, ANAN and CITN have established mechanisms for enforcing ethical conduct, with members facing sanctions, suspensions, or even removal from the rolls for violations of professional standards. Compliance is also a cornerstone of membership, with practitioners required to demonstrate their adherence to tax laws by filing their own returns annually.

Given the existing framework, many within the tax profession are questioning the rationale behind creating an entirely new system outside of these established bodies. Why, they ask, invest in building a parallel structure when efforts could be directed towards strengthening and refining the existing institutions? The concern is that establishing a new certification process could undermine the credibility and relevance of ICAN, ANAN and CITN, potentially leading to a fragmentation of the profession and a dilution of standards.

If the proposed certification goes ahead, the implication is clear: membership in ICAN, ANAN or CITN may no longer be the prerequisite it once was for practising taxation in Nigeria. This could create a situation where individuals holding the new certification gain an advantage over those with traditional qualifications, regardless of their experience or expertise. Such a scenario would not only devalue the hard work and dedication of ICAN, ANAN and CITN members but also create uncertainty and confusion within the tax profession.

The heart of the matter lies in accountability. Instead of adding another layer of bureaucracy and creating a potentially redundant system, efforts should be focused on holding existing institutions accountable to the standards they have already established. This means strengthening the regulatory oversight of ICAN, ANAN and CITN, enhancing their enforcement mechanisms, and ensuring that they are effectively addressing any gaps in competency, integrity, or compliance. It also requires fostering a culture of continuous professional development, where tax practitioners are encouraged to stay abreast of the latest developments in tax law and practice.

The proponents of the new certification may argue that it is necessary to address specific shortcomings within the existing system. However, it is crucial to carefully consider whether these shortcomings can be adequately addressed through reforms and enhancements within ICAN, ANAN and CITN. Creating a parallel system risks duplicating efforts, wasting resources, and ultimately undermining the very institutions that are essential for maintaining the integrity and competence of the tax profession.

The question before Nigeria’s tax community is whether this proposed certification represents the future of tax practice or merely another layer of bureaucracy. The answer will determine the direction of the profession for years to come. It is essential to engage in a thoughtful and informed debate, considering all perspectives and weighing the potential consequences of this decision. Ultimately, the goal should be to strengthen the tax profession, promote ethical conduct, and ensure that Nigeria has a competent and reliable cadre of tax practitioners who can contribute to the nation’s economic development. The road to reform should not be paved with redundancy but with a commitment to building on the foundations that have already been laid.

Informal land market has become the toast of investors who buy land for economic activities, especially real estate where it is a major factor for consideration.

In most Nigerian societies, there are formal and informal land markets. Whereas the formal land markets are those governed by state law, informal land markets are those that are neither governed by state law nor registered in the government system.

In recent times, some investors are attracted to informal land delivery networks due largely to expediency benefits. But these benefits are often short-term. Still, this is particularly attractive in regions where conventional land procedures appear detached from the reality of the operating environment.

‘In contrast to the formal land system, which is typically slow and complex, the informal system provides greater flexibility, more affordable land, and a broader selection of locations. It also benefits where government-backed regularisation programmes assist individuals in legalizing their land upon acquisition,’ according to a new report on the real estate market.

The report compiled by Northcourt Real Estate, notes that other investors concentrate on the historical and structural factors underlying the preference for informal systems, pointing out that antiquated regulations, rigid planning controls, and the centralized management of land render the official system unattractive.

Land in most cities of Nigeria commands high value and therefore attracts premium price. This is because it is in high demand for virtually all economic activities. Though it is a passive factor and does not possess any ability to produce on its own, it is an important agent of production.

Modern economists consider land as a specific factor of production, which can be put, not only to a specific purpose, but also to several other uses.

Some investors hinge their reason for favouring informal market on the inadequate performance of the formal system, which compels them to opt for the alternatives.

‘When the formal system fails to allocate land efficiently, individuals seek alternatives. This dynamic supports rising land demand- particularly in regions where customary actors actively shape spatial development patterns,’ the report explains further.

The report notes that farmlands which largely belong to the informal land market have suffered significant space loss to urban expansion and infrastructure development.

It cited Lagos, where a recent study by the Federal University Ekiti, Federal University of Technology Akure and Obafemi Awolowo University found out that farmland decreased from 1984 to 2024, while developed regions increased by 22,538.34 hectares.

‘The annual rate of farmland reduction has intensified over time. Recent studies suggest that from 1984 to 2013, the average annual reduction in agriculture was -0.45 percent, while light forest, open spaces and waterbodies (through landfilling) experienced declines of -2.38 percent, -0.61 percent, and -0.57 percent, respectively.

‘During the same timeframe, developed regions and wetlands expanded at rates of 4.94 percent and 2.06 percent per annum. From 2013 to 2024, the annual rate of farmland loss increased to -2.42 percent, with more pronounced decreases in light forest (-6.78 percent), open space (-3.45 percent) shrub (-6.36 percent), and waterbodies (-1.56 percent),’ it said.

Accelerated loss of agriculture and natural landscapes exerting upward pressure on land prices. The decrease in farmland and open spaces since 2013, largely attributed to urban expansion. Urban farming in Lagos is seeing a consistent decline due to the escalating conversion of land for residential and infrastructural development.

Despite indications that urban farming is gradually acknowledged as a viable means of

livelihood, agricultural land is still being developed into residential and commercial use. This is especially the case for the marginalized.

Uche Nnaji, the minister of science and technology, has finally admitted that the University of Nigeria, Nsukka (UNN), never gave him a degree certificate confirming earlier reports that he might have forged his academic credentials.

This revelation supports findings from a two-year investigation which had exposed that the documents Nnaji presented to President Bola Tinubu and the Senate during his ministerial screening were fake, Businessday reported.

The controversy over his certificate began in July 2023 when President Tinubu included Nnaji among the first batch of ministerial nominees. Soon after the announcement, critics questioned the authenticity of his academic and NYSC certificates, claiming he never completed his university education.

The investigation concluded that both the bachelor’s degree and NYSC discharge certificate submitted by the minister were forgeries. Until recently, Nnaji had not publicly responded to the allegations. But new court documents have now revealed his side and his own statements confirm that he never received a certificate from UNN.

The admission surfaced in a case Nnaji filed at the Federal High Court in Abuja, before Justice Hauwa Yilwa. In the suit, he sued the Minister of Education, the National Universities Commission (NUC), the University of Nigeria, its Vice-Chancellor, Professor Simon Ortuanya, its Registrar, Professor Oguenjiofor Ujam (a former Acting Vice-Chancellor), and the university’s Senate.

Through a motion ex parte, the minister asked the court to stop the university and its officials from ‘tampering with’ or releasing any details about his academic records. He also asked the court to compel the institution to release his academic transcript and to direct the Minister of Education and the NUC to make UNN comply.

In addition, he sought an interim injunction restraining UNN from altering or releasing any information about him until the case was decided.

Justice Yilwa, in her ruling on September 22, granted three of the minister’s requests but refused to issue an injunction stopping the university from acting. The matter was adjourned to October 6 for further hearing.

Sources familiar with the case said that Nnaji’s legal action was an attempt to block the university from releasing details of his academic records to journalists or investigators. He was also said to be pushing to obtain his transcript to ‘refresh his memory’ about where he may have stopped during his university days.

What has drawn the most attention, however, is what the minister himself revealed in his sworn affidavit. In paragraphs 12 and 13 of his 34 paragraph statement. Nnaji made a surprising confession that appears to confirm he never collected a certificate from the university.

In paragraph 12, he said he was admitted to study Microbiology/Biochemistry in 1981 and that he completed the programme in 1985. But in the following paragraph, he stated that he had not been issued a certificate, blaming ‘the non-cooperative attitude’ of UNN officials for his inability to collect it.

He cited a letter issued by the university in December 2023 to People’s Gazette, confirming that he was indeed a student who ‘graduated’ in 1985 with a Second Class (Lower Division) degree. However, this letter did not include or represent an actual certificate and his court filing indirectly confirmed that he does not possess one.

By admitting that the university never issued him a certificate, Nnaji has, in essence, validated the claims of forgery earlier made against him.

Since his nomination in 2023, Nnaji has faced persistent questions about his academic record. Critics argued that his credentials were fabricated and that his NYSC certificate was also fake. The allegations gained weight after BusinessDay published documents showing discrepancies between his claimed qualifications and university records.

The publication’s two-year investigation reportedly involved interviews with university officials, checks of student records, and verification from the NYSC. Their findings were described as ‘damning and conclusive,’ asserting that the minister’s documents were entirely fake.

Despite the seriousness of the allegations, the Senate confirmed his nomination, and he went on to assume office as Minister of Science and Technology under President Tinubu’s administration.

The latest court admission has now reopened the controversy, sparking fresh debates about how background checks are conducted for public officials and why questions of integrity are often overlooked.

The revelation has triggered shock and outrage among Nigerians. Civil society groups have begun calling for his immediate suspension and investigation. Some critics argue that his continued stay in office undermines the government’s credibility, especially in a ministry that deals with research, innovation, and academic advancement.

Opposition politicians have also seized on the matter, accusing the Tinubu administration of turning a blind eye to corruption and dishonesty in public service. ‘How can someone who forged his certificate be in charge of science and technology?’ one opposition lawmaker said.

Meanwhile, legal experts say that Mr. Nnaji’s admission could expose him to prosecution under Nigerian law, which criminalizes document forgery and the submission of false information for public appointments.

As the court case continues, attention is focused on whether UNN will be compelled to release more details of the minister’s academic history and whether those details will match his earlier claims.

The Federal High Court is expected to continue hearing the matter in the coming days, and the outcome could have serious implications not only for Mr. Nnaji but also for the credibility of the government’s vetting process for public officeholders.

The N100 million gift given to Governor Umo Eno of Akwa Ibom to facilitate his nomination form for a second term in All Progressives Congress (APC) by traders, during their 2025 Annual General Meeting in Uyo, has sparked off both commendation and criticism across the State.

While Idorenyin Rapheal, Governor’s Special Assistant on Market Duties and officers of Akwa Ibom Traders Union, described the gesture as deserving, in view of the ‘governor’s inclusive leadership style, political stability, vision-driven administration, peace mission and ARISE agenda’, others see it as tricks by sychophants, to create a ‘false’impression and manufacture a spurious endorsement of the governor for a second term.

A food stuff importer at the popular Akpan Ndem market, Edem Okon said Akwa Ibom people should appreciate Governor Umo Eno in view of his remarkable performance, political stability, peaceful coexistence among different political parties in the State, his peace mission, as expressed in his ‘United Akwa Ibom Party’ mantra and business friendly attitude, which he believed, had encouraged commercial and economic boom.

On the other hand, Ephraim Edem expressed doubt that the N100 million truly came from peasant, struggling traders, who are battling to bring their products from the rural communities to urban markets with multiple taxes and high cost of transportation.

He however directed the Senior Special Assistant to the Governor on Market Affairs, to advise the governor to approve and implement grants and free loans to traders and tell him the true business condition of the traders

He described the development as a ‘beautiful work of sychophants and eye servants, and the endorsement of the governor as fraudulent’

‘Politicians should allow the governor to concentrate on governance rather than to push him to electoral desperation.

‘If you listen to bitter complaints from traders and the frustrations they pass through to stand a chance of getting the Gtate Government grant, you’ll not believe it is the same people, who present the cheque of N100 million for the governor’s second term nomination form’

Others advised the governor to be careful with political jobbers, who had already started the same game they played on ex Governor Udom Emmanuel.

‘If you look at the faces of the traders, you will know they can’t afford, even one tenth of the 100 million naira.

‘Return ticket formula is workable political strategy, but an old recycling trick, used by political jobbers and professional sychophants to devour desperate power seekers’, some people remarked.

Yet, others praised the governor for his inclusivity, advised him to shut his eyes and ears from the drumbeats and deceptive flowers from sychophants.

Nigeria has never lacked reform blueprints. From the mid-2000s banking consolidation to fuel subsidy removals, privatisation, and exchange-rate adjustments, policymakers have repeatedly promised turning points.

Yet for most Nigerians, these reforms have felt like waves that rise and fall without lifting living standards. The pattern is familiar: bold technical fixes are introduced, optimism briefly spikes, and then the gains evaporate. The real issue is not the absence of ideas, but the weakness of the institutions meant to carry them through.

This is the context in which the 31st Nigerian Economic Summit (NES #31), scheduled for October in Abuja, assumes unusual significance.

Themed ‘The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030’, the summit will focus on three guiding pillars: reforms, resilience, and results and explore sub themes such as industrialisation, investment flows, infrastructure, inclusion, and institutional strengthening.

Among these, the emphasis on building strong institutions may prove to be the most critical.

When institutions fail, reforms falter

Policy inconsistency, corruption, fragile regulatory frameworks, and poor governance have long undermined Nigeria’s economic transformation. The 2014 power sector privatisation promised to unlock billions in investment, yet the absence of a robust regulatory regime and entrenched governance flaws left households facing blackouts and businesses reliant on diesel generators.

In 2016, the adoption of a managed float for the naira was meant to stabilise the currency, but opaque implementation and conflicting signals from regulators deepened investor anxiety.

More recently, the removal of fuel subsidies and the unification of exchange rates under President Bola Tinubu in 2023 were praised by multilateral lenders, yet the immediate social costs – soaring transport fares, higher food prices, and suppressed wages – have left citizens sceptical that reforms work for them.

The lesson is clear: technical reforms cannot thrive in the absence of credible institutions. Without trust in governance, every policy shift is seen not as an opportunity but as a threat. As Niyi Yusuf, Chairman of NESG, recently argued, reforms may deliver a short-term cushion, but only institutions can guarantee long-term results.

He went further, warning: ‘What is required now is a second wave of reforms; structural, deliberate, and transformative.’

Faruq Quadri, CEO of SPEC-MATRIX, added that institutional weakness remains the bottleneck for every well-intentioned policy and economic reform.

Nigeria’s institutional deficit

Nigeria’s institutional fragility is not abstract. The judiciary struggles with delays and perceived political influence, eroding contract enforcement. Regulatory agencies, from power to aviation to oil, are often underfunded and vulnerable to capture by vested interests.

Anti-corruption campaigns have been high-profile but inconsistent, with enforcement appearing selective. This combination has weakened both domestic and foreign investor confidence, while also fuelling public cynicism.

Data underline the scale of the challenge. Nigeria ranked 145th out of 180 countries in Transparency International’s 2023 Corruption Perceptions Index, slipping behind several African peers. The World Bank’s Worldwide Governance Indicators show persistent weaknesses in regulatory quality and rule of law.

Meanwhile, the IMF has repeatedly highlighted policy reversals and lack of coordination as constraints on growth. These institutional gaps explain why Nigeria’s economy, despite its scale and resource base, has struggled to sustain growth above population expansion for much of the past decade.

As Yusuf told business leaders earlier this year: ‘Nigeria will only rise when we produce what we consume and consume what we produce.’ That vision, however, demands institutions strong enough to enforce discipline and sustain reform momentum.

Reform without institutions is reform without results

At NES #31, delegates will no doubt debate industrialisation and investment flows, but the more fundamental question is whether Nigeria can build institutions capable of sustaining these reforms. Without stronger oversight, credible regulation, and greater policy continuity, the cycle of reform and relapse is likely to persist.

The stakes could not be higher. Nigeria’s median age is just 18, with millions entering the labour market each year. If institutions remain weak, reforms will fail to generate the jobs and opportunities needed to absorb this demographic surge. On the other hand, credible institutions can unlock the benefits of Nigeria’s youthful population, abundant resources, and growing markets.

For Nigeria, the summit offers a chance to break the cycle. Reform is imperative, but reform without institutions is reform without results.