Author: The Nation

  • VCN to host second annual staff retreat to align with Renewed Hope Agenda, NL-GAS

    VCN to host second annual staff retreat to align with Renewed Hope Agenda, NL-GAS

    The Veterinary Council of Nigeria (VCN) will convene its second annual three-day staff retreat from January 26 to 28, 2026, in Abuja, as part of efforts to strengthen regulatory capacity and align the Council’s operations with President Bola Tinubu’s Renewed Hope Agenda and the Nigerian Livestock Growth Acceleration Strategy (NL-GAS).

    The retreat, which will bring together the Council’s 35 staff members, builds on key institutional milestones achieved in 2025 with support from Propcom+.

    Those milestones include the Council’s inaugural staff retreat, a comprehensive review of the Community Animal Health Curriculum, revisions to the Veterinary Surgeons Bill, and the development of VCN’s first Strategic Plan covering 2026–2030.

    Acting Registrar of the Council, Dr. Oladotun Ebenezer Fadipe, said the retreat is designed to reposition staff for effective implementation of the newly developed strategic framework, describing it as a turning point in the Council’s history.

    “Propcom+’s landmark support in 2025 delivered VCN’s first staff retreat, the revised Community Animal Health Curriculum, the Veterinary Surgeons Bill, and our Strategic Plan for 2026–2030,” Fadipe said.

    “This retreat equips our team to operationalise this historic framework in alignment with the Renewed Hope Agenda and the Federal Ministry of Livestock Development’s NL-GAS.

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    For the first time, VCN has a comprehensive strategic roadmap, which requires enhanced capacity for regulatory excellence in animal health, public safety, and livestock productivity.”

    According to the Council, the retreat will integrate VCN’s mandate within the 10 strategic pillars of NL-GAS, particularly in strengthening regulation of veterinary training and practice. This, it noted, is critical to mitigating zoonotic diseases—estimated to account for over 75 per cent of human illnesses—while safeguarding food supply for Nigeria’s population and contributing to economic growth through improved livestock production.

    Deputy Registrar, Dr. Helen Ego Oputa-Chime, recalled that the inaugural retreat in January 2025 was held at a time the Council had been excluded from the federal budget, describing the forthcoming retreat as a reflection of renewed institutional stability.

    “Last year’s retreat encouraged our staff to sustain momentum despite being out of the budget for over a year,” she said. “With the restoration of the Council to the federal budget, we are now fully aligning with the eight-point Renewed Hope Agenda, from which our supervising ministry developed NL-GAS. VCN is a critical stakeholder in the livestock industry, regulating the training and practice of veterinary medicine to ensure animal health, public health, and wholesome meat and animal protein for Nigerians.”

    Oputa-Chime emphasised that effective regulation of animal health caregivers is essential for the wellbeing of pets, security animals and livestock, noting that unmanaged animal disease burdens pose direct risks to human life.

    She added that the Council’s work in ensuring veterinary premises meet global best practices contributes to curbing zoonotic diseases, improving public health, boosting livestock productivity in beef, milk, hides and skins, and increasing Nigeria’s export potential and gross domestic product.

    “This is animal health for human health,” she said.
    The retreat is expected to attract a wide range of stakeholders in the livestock and public health sectors, including the Minister of Livestock Development; the Minister of State, Ministry of Agriculture and Food Security; the Permanent Secretaries of the Federal Ministry of Livestock Development and the Federal Republic of Nigeria; the Chief Veterinary Officer of Nigeria; members of the VCN Board; and leaders of the Nigerian Veterinary Medical Association.

    Other expected participants include representatives of the National Universities Commission, the All Farmers Association of Nigeria, the Nigerian Centre for Disease Control, the Food and Agriculture Organization (ECTAD), Propcom+, and key veterinary communities and industry partners.

    The Veterinary Council of Nigeria regulates veterinary medicine and practice in the country under the Veterinary Council Act, with a mandate to promote animal health, protect public health, enhance food security, and support economic growth through the livestock sector.

  • Champion Breweries highlights importance of acquisition

    Champion Breweries highlights importance of acquisition

    Champion Breweries Plc has provided additional context on the strategic importance of its acquisition of the Bullet brand portfolio.

    The company’s N42 billion public offer of ordinary shares at N16 per share continues and remains open until January 21, 2026.

    The public offer forms the second leg of Champion’s N58 billion capital-raising programme and complements the earlier rights issue.

    Proceeds from the rights issue and public offer would be used to support the Bullet acquisition and strengthen working capital for operations, innovation, and market expansion.

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    The Bullet transaction accelerates Champion’s growth strategy. Structured as an asset carve-out, the acquisition transfers ownership of Bullet’s brands, trademarks, product formulas, packaging rights, and commercial IP, together with distribution agreements across 14 African markets, without the acquisition of a manufacturing facility.

    This gives Champion, which is part of the enJOYcorp Group, a consumer brands platform focused on scaling African products into regional and global markets, immediate access to a pan-African route-to-market that would take years to build organically.

    The portfolio includes Bullet Black, Nigeria’s No. 1 Ready-To-Drink (RTD) alcoholic beverage, and Bullet Blue, a leading caffeine-free energy drink. Production will continue through Bullet’s existing European manufacturing partner, enabling immediate integration while allowing for phased localisation of production in Nigeria over time.

    Commenting on the transaction, Managing Director of Champion Breweries Plc., Dr. Inalegwu Adoga, said: “The Bullet acquisition is strategically important because it adds proven brands, regional scale, and foreign-currency earnings through an asset-light structure. It strengthens Champion’s platform for long-term growth.”

    Group Managing Director, enJOYcorp, David Butler, added: “Bullet brings together brands, demand, and distribution that are already established across multiple markets. This allows Champion to scale efficiently and compete more effectively across Africa.”

    The Company, in a statement which was made available to The Nation, over the weekend, stated that the Nigerian energy segment of the Fast Moving Consumer Goods (FMCG) sector represents one of the most dynamic markets for energy drinks in Africa.

    This market, the statement added, is projected to grow faster than the African market at approximately 14.53 per cent annually through to 2030 with significant white space opportunities for growth.

    This growth is driven by several factors, including increasing urbanization, which is reshaping consumption patterns as well as the emergence of a fitness-oriented culture, boosting demand for performance-focused beverages.

    Through Bullet’s established pan-African footprint and FX-linked revenues, the acquisition expands Champion’s scale, diversifies earnings, and strengthens long-term financial resilience.

    Furthermore, the acquisition positions Champion as a multi-category, multi-market beverage company, by expanding the Company from a single-category brewer into high-growth RTD/energy beverages, whilst enhancing mix with higher-margin, trend-led products.

    Champion has delivered consistent operational and financial improvement in recent years. In its most recent nine-month 2025 results, Champion increased its revenue by 53 per cent from N14 billion in the year to N21 billion, with net income simultaneously increasing by 95x from N21 million to N2 billion, resulting in earnings per share increasing from N0.24 to N22.86.

    This achievement could only be delivered through execution discipline, economies of scale resulting in revenue growth strongly outpacing cost growth and operational excellence.

  • Subscribers seek intervention over stalled Lekki real estate project

    Subscribers seek intervention over stalled Lekki real estate project

    The Nigerian real estate sector, which has, in the past few years, seen a massive influx of billions of Naira from Nigerians in the diaspora, is facing a fresh wave of scrutiny following alleged breach of contract and project abandonment involving RevolutionPlus Property, one of the industry’s players.

    Some investors who spoke with journalists said what was promised as a dream investment in a high-brow area of Lagos has turned into an unending nightmare year after year.

    Alex Adelesoye, a medical practitioner practising in the Middle East, expressed his frustration over the failure of RevolutionPlus to deliver his house to him many years after making payments for an apartment in Flourish Apartment and Terraces, located on Orchid Road, Lekki, near the Chevron area.

    According to Dr. Adelesoye, he and several others were lured by advertisements from RevolutionPlus between 2020 and 2021. Enticed by the prospect of owning a home in one of Lagos’ fastest-growing corridors, the subscribers made substantial payments under a formal agreement that the project would be delivered within 12 months. However, years later, the promised delivery remains what victims describe as a “mirage”.

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    “The story changed immediately after payments were made,” said Dr. Adelesoye. “Instead of delivering a finished apartment, we were met with repeated requests for additional payments, which the subscribers meekly complied with in hopes of finally securing their investment.”

    Thelma Egunjobi, a Nigerian living in Europe, said she invested over N40 million as far back 2020, and as of today, her three-bedroom terrace is yet to be delivered. Promises of delivery by the company have been unending.

    “I paid for a 3-bedroom terrace. RevolutionPlus pleaded with me to add more money, and I had to change foreign currency to fund the purchase. As of today, I am frustrated that the delivery is a pipe dream. RevolutionPlus has thoroughly messed me up. We took the matter to the Lagos State Real Estate Regulatory Authority and the Anti-Land Grabbing Commission, without any success. We later reported to EFCC, and we are yet to receive our properties, which is really a shame and a huge disincentive to investment in our country, as several investors have had their fingers burnt without any punitive or pragmatic intervention from the Government agencies regulating these developers,” she lamented.

    Prince Yellowe, another subscriber who lives in the United States, bemoaned government failure to hold RevolutionPlus accountable, saying: “I paid N65 million to RevolutionPlus as far back as 2022. Even at EFCC, I was made to pay additional money in May 2025, over N100million was made available to Revolutioplus, with the promise that the house would be delivered in December 2025. Till now, nothing palpable has been invested of this fund on the completion of the project.”

    When contacted for comment, the Managing Director of RevolutionPlus, Bamidele Onalaja, claimed work is ongoing on the project.  He was silent on the reason for the delay. “My advice is for you to visit the site and see the massive ongoing work and the massive project. I have nothing more to say than that,” he said in a text message to a journalist.

    Meanwhile, pictures of the site obtained as of Monday, January 12, 2026, showed otherwise. Reacting to Mr Onalaja’s comments, Adelesoye stressed that the real estate company has done nothing significant since 2022.

     “The company didn’t do anything noticeable in the last three years. The agreement we have says the project will be delivered on or before December 2022. The massive work claimed to be going on was just a delivery of some trucks of sand when he was aware of EFCC’s planned visit to the site on Monday 12 January. We appreciate the value of what we have invested but sad to see how things have turned,” he added.

    Another investor, Omayemi Edukugho, who resides in the United States also told journalists that his hope of owning a home in Nigeria has since been frustrated. “As a law abiding citizen, we have reported to EFCC. Potential buyers should also note that the buildings have been sold.”

    Similarly, Rasheed Abolomope, lamented that he paid for a 2-bedroom apartment in 2020 and made additional goodwill payment in 2025 but it has all ended in a traumatic pain.

     “I am a citizen that has served meritoriously. I have reported this matter to the EFCC as I believe it is unfair for another citizen to collect from us without delivering on the project since 2020. I call on the Governor of Lagos State to wade into this matter.”

    He added that “Revolutionplus is now hostile to subscribers, when enquiries are made. The office is also gradually shutting down and there is information that there is a possibility of the directors being at large.”

    The situation escalated to the Economic and Financial Crimes Commission (EFCC), where a formal investigation into the firm’s activities had begun. Under the purview of the anti-graft agency, an agreement was reportedly reached between the developer and the subscribers.

    Despite having already paid in full for their properties, the subscribers were reportedly convinced to make even more “goodwill” payments to RevolutionPlus to ensure the project’s completion. With the new financial injection, a final delivery date was set for December 2025. While the deadline has passed, the property remains uninhabitable and the new funds made available, yet diverted.

    The management of RevolutionPlus has allegedly become increasingly elusive, leading the EFCC to visit the Flourish Terraces site on Monday, January 12. The visit signals a potential escalation in the commission’s investigation as they seek to hold the principals of the firm accountable and recover the mismanaged funds and properties of the embattled investors.

    This case highlights a disturbing trend in the Nigerian housing market. While diaspora investment is credited with driving job creation and economic activity, experts warn that frequent developer defaults are creating billions in “dead capital” and eroding the trust of Nigerians abroad.

  • Experts brainstorm on banks’ cash management in digital economy

    Experts brainstorm on banks’ cash management in digital economy

    Experts in banking operations and financial services regulators would this weekend examine the evolving role of cash in a rapidly digitising economy.

    At the Committee of Heads of Bank Operations (CHBO) in Nigeria’s Annual Banking Operations Conference scheduled for The Bankers House in Lagos, decision-makers across Nigeria’s banking and payments ecosystem would brainstorm on optimal cash management alongside digital services.

    The conference will bring together senior executives overseeing banking operations, electronic business, compliance, internal audit, information security, and corporate communications, payment service providers and licensed cash managers as well as regulators from Central Bank of Nigeria (CBN) and Nigeria Inter‑Bank Settlement System (NIBSS).

     With  the theme: Re-imagining the Future of Cash in a Digital-First Economy, the conference will interrogate the balance between accelerating digital payment adoption and the continued relevance of physical cash, particularly within informal markets and underserved communities. Discussions will focus on how cash can be repositioned to coexist efficiently, securely, and sustainably alongside digital channels.

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    Speaking ahead of the conference, Chairman, Committee of Heads of Bank Operations (CHBO), Mr. Abraham Aziegbe said the 2026 edition comes at a defining moment for the financial services industry.

    He said: “As Nigeria deepens its digital payments infrastructure, cash remains an indispensable part of economic activity.”

     This conference is about confronting operational realities head-on and charting a future where cash is smarter, more efficient, and better integrated with digital systems”.

    He added that the conference would explore practical strategies for redefining cash operations, leveraging technology to improve traceability and security, strengthening interoperability between cash and electronic channels, reassessing cost and risk frameworks, and enhancing customer experience across payment touchpoints.

    Chairman, Conference Planning Committee, Tolulope Ogundipe, said the agenda has been carefully curated to deliver actionable insights.

    “This year’s theme reflects the industry’s shared responsibility to rethink cash beyond legacy processes. Our objective is to provide a platform where banks, regulators, switches, and service providers can align on sustainable models for cash management in a digital-first era,” Ogundipe said.

    He said the CHBO expects the conference outcomes to shape industry thinking, inform policy conversations, and support more resilient and forward-looking banking operations as digital adoption continues to accelerate nationwide.

    He assured that registration details and programme highlights would be shared with invited participants ahead of the event.

  • Firm wins Dangote Cement’s largest distributor award

    Firm wins Dangote Cement’s largest distributor award

    Repton Group has emerged as the winner of the 2025 Dangote Cement Award for the Largest Distributor in Nigeria and Sub-Saharan Africa. This marked the third consecutive achievement having earlier clinched the 2023 and 2024 editions of the annual award.

    Repton Group, won the award through its cement distribution subsidiary, Kazab Heritage Limited, at the 2026 Dangote Cement Distributors’ Awards Night in Lagos

    Managing Director, Repton Group , Otunba Odeyeyiwa Olayemi expressed appreciation to Alhaji Aliko Dangote, President and Chief Executive, Dangote Industries Limited and the entire Board and Management of Dangote Cement Plc, for the award decided through an objectiveperformance-assessment process.

    Olayemi also thanked customers for making the achievement possible. As he put it in his appreciation message, “On behalf of our Board of Directors ably led by my wife, Yeye Erelu Adesola Mutiat Odeyeyiwa and me, I want to express special appreciation to you, our esteemed customers for your unwavering loyalty, consistent feedback and exceptional commitment to our brands over the years.

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    “You remain our corporate catalysts. Our emergence as the Largest Distributor of Dangote Cement in Nigeria and Sub-Saharan Africa for three consecutive years would not have been possible without your sustained and massive support.”

    He equally expressed gratitude to the entire staff for theirindefatigability, overwhelming dedication, result-driven approach and operational ingenuity, which mostly account for the latest feat and have continued to drive outstanding achievements.

    The CEO, who also thanked all associates and stakeholders, attributed the successive achievements of the Group to years of strategic corporate vision, operational innovation, resilience, robust planning and effective team work.

     Olayemi, who hinted at technological re-modelling of operations at the Group, said the Group would continue to strengthen efforts towards sustaining industry leadership and/ormaintaining competitive edge.  According to him, “Rather than resting on our laurels, we view this latest achievement as both a challenge and motivation to further strengthen our performance and continuously re-model our operational strategies. We firmly believe that complacency has no place in sustaining excellence amid intense competition.”

    In her own reaction, Yeye Erelu Odeyeyiwa Adesola Mutiat, Director of Repton Group and wife of the CEO, first attributed the success to God and expressed special appreciation to Dangote Group and all stakeholders for the award. In her words, “All glory and adoration to Almighty God…. My special appreciation goes to you all, our loyal customers, for your unwavering support over the years. I also most sincerely thank all of you, our staff in Repton Group in general, for your selfless work, dedication and support. Let’s do it again this year. To Dangote Group, we cannot thank you enough.”

  • Govt urged on farmer-focused reform

    Govt urged on farmer-focused reform

    Chief Executive Officer, Niji Foods, Mr. Kolawole Adeniji, has urged the Federal Government to urgently roll out concrete, farmer-focused reforms to boost food production, warning that without swift and decisive action, recent gains in food price stability could threaten the long-term sustainability of Nigeria’s agricultural sector.

    Adeniji made the call while reacting to the keynote delivered by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at the launch of the Nigerian Economic Summit Group (NESG) 2026 Macroeconomic Outlook Report in Lagos.

    At the event, the minister acknowledged that easing food prices, while offering relief to consumers, have in some cases fallen below farmers’ production costs, raising concerns about continued investment in food production.

     “There is a point now to help the farmers, because prices have come below, in some cases, their costs, and that is being addressed very, very urgently, in order to ensure that we encourage continued investment in food production,” Edun said.

    Responding, Adeniji said the minister’s remarks validated long-standing warnings from stakeholders in the sector, noting that farmers are under increasing pressure from rising input costs, limited access to affordable finance and weak supporting infrastructure. He stressed that agriculture requires deliberate, sector-specific solutions rather than generic economic policies.

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     “Agriculture is not like any other business you do and you cannot use a standard office system to solve its unique challenges. The government must restructure agricultural banks and develop proper loan systems for agribusiness development. We need a system where banks actually understand the farm, spending time on the ground to see what farmers suffer before they attempt to offer support. If not, we cannot move forward,” Adeniji said.

    He identified access to affordable credit as a major constraint to food production, calling for a drastic reduction in interest rates to single-digit levels.

    According to him, lending rates of up to 30 per cent make it impossible for smallholder and family farmers to invest in machinery, irrigation systems and modern technology required to raise productivity.

    He also called for a comprehensive “rejigging” of agricultural policies to make them more farmer-friendly, urging stronger government support for biotechnology, certified seeds and irrigation infrastructure.

    Adeniji described improved seed quality as a critical driver of higher yields and climate resilience.

    Beyond financing and inputs, Adeniji advocated the establishment of dedicated seaports for agricultural exports to improve efficiency across the value chain. He said such ports would enable importers and agribusinesses to fully benefit from duty-free concessions on agricultural machinery, while shielding them from congestion, delays and bureaucratic bottlenecks associated with conventional seaports.

     “We need seaports dedicated to agriculture. If importers are granted duty-free status on agricultural machinery, there must be an efficient system to support it. Today, using regular seaports exposes farmers and agribusinesses to congestion and unnecessary bureaucracy that increase costs and discourage investment. Dedicated agricultural ports will save time, reduce losses and make our exports more competitive,” he said.

    The Federal Government, meanwhile, said it is moving to support farmers following evidence that food prices have in some cases dropped below production costs, raising concerns about the sustainability of food production and future supply.

    Edun said agriculture remains central to the 2026 policy agenda, which prioritises boosting competitiveness, ensuring good governance, increasing agricultural productivity and food security, while accelerating infrastructure, energy and human capital development.

    The intervention comes as food inflation and headline inflation continue to ease after months of tight monetary policy and supply-side reforms. As of December 2025, food inflation declined sharply to 10.84 per cent year-on-year from 39.84 per cent in December 2024, driven by improved food supply, easing foreign exchange pressures and reduced import costs.

    While the moderation has brought relief to consumers, the minister warned that prices falling below farmers’ costs could discourage production if left unaddressed, potentially reversing recent gains in food availability and price stability. He said the government’s focus is to strike a balance between affordability for consumers and incentives for producers, especially smallholder farmers.

    Looking ahead, Edun said the 2026 budget, described as a budget of consolidation, renewed resilience and shared prosperity, would focus on translating macroeconomic stability into tangible improvements in living standards. Key priorities include food security, improved electricity supply, expanded mortgage access, road infrastructure and social protection for vulnerable Nigerians.

    He added that the government would continue reforms to improve revenue collection, block leakages and implement a pro-poor tax framework that exempts essential food items and small businesses while broadening the tax base. For Adeniji, however, the true test lies in how quickly policies translate into relief at the farm level. “If the government gets agriculture right,” he said, “we will get our economy right.”

  • ‘How digital innovation could redefine energy landscape’

    ‘How digital innovation could redefine energy landscape’

    The convergence of renewable energy and digital innovation can establish a Nigerian energy landscape built on reliability and long-term sustainability, an expert, Elijah Daniel, has said.

    According to him, today, just over 60 per cent of Nigerians have access to grid-connected electricity, and even those who do often endure erratic service, with the average daily supply standing at less than seven hours according to the country’s National Bureau of Statistics (NBS).

    Quoting Albert Einstein, he said: “In the middle of difficulty lies opportunity.”

    Daniel, who is Country Sales Director, Process Automation & Software, English-speaking Africa at Schneider Electric said Nigeria’s current energy network is defined by a three-pronged structure: generation, transmission, and distribution. Generation is powered predominantly by natural gas, due to the country’s vast reserves, as well as hydro and a growing, but still marginal share of renewables.

    This generated power is transmitted by a single government-owned entity (TCN), while distribution is privatised across multiple regional distribution companies (DisCos). reaching end-users across industrial, commercial, and residential sectors.

     “However, this structure is under severe strain as a result of factors such as transmission bottlenecks, aging infrastructure, demand-supply imbalance and gas supply issues.

     “Whichever way you look at it, the grid, in its current form, cannot shoulder the needs of Nigeria’s rapidly growing urban population and burgeoning industries. As the country’s population surges past 220 million, the national grid is simply stretched too thin,” he explained in an emailed note.

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    According to him, to improve energy access and reliability, Nigerian policymakers are increasingly supporting decentralised energy solutions. This includes mini-grids and embedded generation systems that serve specific localities or clusters of users.

    This decentralization, he said, aligns with Nigeria’s Energy Transition Plan (ETP), which aims to achieve net-zero emissions by 2060. A crucial part of this plan is expanding access through renewables – solar in particular – to unserved and underserved communities.

    However, scaling renewable energy also demands modernisation, coordination, and robust digital infrastructure to ensure these systems operate efficiently.

    Speaking on digital tools for the modern grid, Elijah said technologies such as IoT, advanced analytics, digital control systems, and Software as Service (SaaS) platforms are becoming essential to managing Nigeria’s evolving energy landscape.

     “Digital tools are optimised for myriad applications including substation automation management, load forecasting and energy monitoring. These systems not only optimise how electricity is distributed but also enable proactive maintenance and reduce downtime.

     “For example, in embedded generation systems, where businesses combine renewables with gas or grid input, digital control allows seamless switching between sources to prevent blackouts.

     “Furthermore, a digital layer ensures the system understands when grid supply is available and when to draw from solar or battery reserves, maintaining continuous service,” he said.

    According to him, one particularly promising model is SaaS, well-known for its ability to eliminate the need for massive upfront capital expenditure by allowing energy providers to subscribe to software platforms that help manage their operations.

     “However, for SaaS adoption to grow, local relevance is key. Here it is important that service providers offer functionality such as integrating with local payment gateways, invest in training and support ecosystems and invest training and support ecosystems.

     “Localisation of software, modular deployment, and policy alignment will therefore be essential to ensuring SaaS becomes a viable and valuable tool in Nigeria’s energy toolkit,” he said.

    He stressed the need to align policies, tariffs, and technology, arguing that technology alone cannot solve Nigeria’s energy crisis. Real progress depends on the alignment of three key pillars: government policy, electricity tariffs, and infrastructure investment.

    On policy, he said the government’s recent push for decentralisation and increased private sector participation has laid a positive foundation. Programmes under the ETP and rural electrification initiatives are steps in the right direction.

    Speaking of tariffs, he said electricity pricing is a sensitive issue. Nigeria’s tariffs remain amongst the lowest globally which means energy projects often struggle to achieve bankability.

    Infrastructure and innovation – the investment in digital tools and grid upgrades must be incentivised. Public-private partnerships, donor-backed pilot projects, and capacity-building initiatives will be crucial to scaling the technology adoption required for a modern energy system.

  • Experts predict faster economic growth, lower inflation

    Experts predict faster economic growth, lower inflation

    Nigerian economy is set to witness stronger growth this year, economists and finance experts have said.

    Experts who spoke at the roundtable organised by the Chartered Institute of Bankers of Nigeria (CIBN) in collaboration with Biodun Adedipe and Associates were unanimous on the positive outlook for the economy.

    They, however, cautioned that the policy outcomes would depend largely on disciplined execution and alignment of fiscal priorities. The theme of the hybrid roundtable was: 2026 National Economic Outlook: Implications for Businesses in Nigeria in 2026.

    Managing Partner, Biodun Adedipe and Associates Limited, Dr Biodun Adedipe said the economy would perform better in 2026.

    He said 2026 would be a stabilisation year marked by exchange rate stability, declining inflation, rising reserves and strong stock market performance.

    He said that Nigerians were already feeling reform impacts, citing reduction in prices of staple foods.

    Adedipe stressed the need for sustained policies to boost food production in order to further reduce inflation.

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    President, Nigerian Economic Society (NES), Dr Baba Musa said Nigeria’s economic fundamentals were improving, citing various macroeconomic data and reports.

    He said businesses need to invest in capacity, technology and routes to markets to take advantage of the evolving macroeconomic environment.

    He, however, noted the need for disciplined policy execution and alignment.

    He said:  “Effective monetary, fiscal and tax reforms will determine 2026 outcomes”.

    President, Chartered Institute of Bankers of Nigeria (CIBN), Prof Pius Olanrewaju, said the new tax regime, which took off on January 1 would broaden the tax base and strengthen public finances.

    According to him, the new tax regime would reduce oil dependence, while protecting small businesses and low-income earners.

    He said the forum set the tone for economic policy dialogue in 2026.

    Deputy Governor, Economic Policy Directorate, Central Bank of Nigeria (CBN), Dr Muhammad Abdullahi, said real GDP growth was projected at 4.49 per cent in 2026.

    He added that inflation was expected to moderate to 12.94 per cent, reflecting easing pressures and reform outcomes.

    Abdullahi said the outlook was supported by non-oil sector expansion, improved crude oil output, rising private investment and a more stable macroeconomic environment.

    He said Nigeria recorded a balance of payments surplus of about 3.81 billion dollars in 2025, reversing deficits from the previous two years.

    According to him, foreign exchange conditions would remain broadly stable due to foreign exchange (forex) reforms, higher oil receipts, diaspora remittances and stronger investor confidence.

    He said inflation would continue easing due to reduction in food and energy pressures and the lagged effects of monetary tightening.

    Abdullahi, who was represented by Director, Monetary Policy, Central Bank of Nigeria (CBN), Dr Victor Oboh, said the apex bank would sustain reforms to strengthen price stability and external sector resilience.

    He urged banks to expand credit to productive sectors, including manufacturing, agribusiness and small and medium enterprises.

  • Farmers to tap Europe’s mango market as capacity expands

    Farmers to tap Europe’s mango market as capacity expands

    Nigerian mango farmers are positioned to tap into Europe’s fast-growing, multi-billion-naira mango market as production capacity expands and global demand for high-quality tropical fruits surges. Industry projections suggest Nigeria’s mango output could rise to as much as one million metric tons in the coming years, consolidating its status as Africa’s third-largest producer and the world’s 11th largest, amid a steady annual growth rate of about 0.9 per cent.

    Despite the rising volume, experts warn that Nigeria continues to face a significant “valuation gap” in international markets. While exporters from countries such as Egypt and Côte d’Ivoire command premium prices in Europe, Nigerian mangoes are often sold at between $1.10 and $1.45 per kilogramme. Analysts attribute the price disparity largely to gaps in specialised export infrastructure and difficulties meeting the stringent phytosanitary standards imposed by the European Union (EU) and the United States (US).

    Europe has strengthened its role as the world’s second-largest importer of fresh mangoes, importing nearly 447,000 tons in 2024 alone. The market is currently dominated by fibre-free varieties such as Kent and Keitt, but trade analysts noted that climate-related disruptions, including El Niño-induced yield declines in South America, are opening new windows for West African suppliers. France and the United Kingdom are emerging as the most immediate entry points for Nigerian exporters. France imported about 57,000 tons of mangoes in 2024 and has shown a growing preference for West African produce due to lower shipping costs compared to Latin American suppliers. The United Kingdom, meanwhile, imported approximately 87,000 tons last year, driven in part by a large and diverse ethnic population that demands specific mango varieties.

    However, access to European markets comes with strict regulatory requirements. Exporters must comply with international standards on pesticide residues and pest management, particularly fruit flies, which remain a major threat to Nigeria’s export ambitions.

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    Executive Director  and Chief Executive Officer, National Horticultural Research Institute (NIHORT), Prof. Mohammed Atanda, said Nigeria is on the verge of a major economic breakthrough in the global mango trade if it can address technical and processing gaps. According to him, the country’s natural ecology and human capital offer a rare competitive advantage.

    “The prospect is large. One resource is natural; the other is human. The natural is that anywhere in this part of the country, anywhere in Nigeria, mango can be grown and it can be cultivated adequately without any hindrance. Mango has a special feature: it is a drought and even forest-rain compliant tree,” Atanda said.

    Beyond fruit production, he noted that mango cultivation also supports environmental sustainability. “It serves a lot of purposes, such as the fruits and even carbon footprint elimination,” he said, highlighting the crop’s role in climate mitigation.

    He further pointed to indigenous mango varieties as a largely untapped export asset. Citing the Ogbomoso variety, Atanda described it as a unique product with strong international appeal. “There is a particular mango variety we call Ogbomoso. It is only in this country you can have that type. It is very juicy, it’s not fibrous, and the brix—that is the sugar level—is adequate. It is peculiar to that Ogbomoso area,” he explained.

    Despite Nigeria’s high production ranking, post-harvest losses remain widespread, with large volumes of mangoes often left to waste along roadsides in producing states such as Edo. Atanda attributed this largely to limited energy supply and processing technology, which prevent farmers from capturing more value from the crop.

    To address this, he said NIHORT has established a pilot mango juice production plant funded by the Federal Government. The institute is also serving as a technical skills hub under a partnership involving the Federal Ministry of Education and the World Bank’s Technical and Vocational Education and Training (TVET) programme. In addition, NIHORT is supporting farmers with improved seedlings through outstations in Gombe, Kano and Ibadan, with the aim of promoting year-round production through better planning.

    “If we plan it well, we can harvest it round the year, depending on the planning and approach. I believe the prospect is so huge because whether there is water or no water, mango will still fruit,” Atanda said.

    Chief Executive Officer, Produce Export Development Alliance (PEDA), Aiyeola Adetiloye, said Nigeria’s ambition to become a dominant player in the global mango trade is being constrained primarily by compliance challenges, especially fruit fly infestation. He revealed that despite strong global demand, Nigeria currently exports less than one per cent of its mango production to high-value international markets.

    “We receive requests for weekly export shipments from international buyers. Mango is consistently one of the most sought-after products, yet despite the fact that we produce a lot of mangoes in this country, we are only able to export less than one per cent.When it comes to export by sea and by air, it is almost non-existent,” Adetiloye said.

    He noted that the global market favours Kent and Keitt varieties, which can be cultivated locally and are valued for their durability and resilience during long-distance shipping. Demand for Nigerian mangoes, both fresh and dried, has risen steadily over the past three years, but he stressed that pest control remains the defining hurdle.

    “The challenge we have is that mango export from Nigeria is going through a process of redefining. It really says that we have to be able to control our fruit fly population in order to be compliant. If not, even though the demand is rising year-on-year, we will continue to miss out,”

    Stakeholders agree that bridging the gap between harvest and export through improved pest management, infrastructure and adherence to international safety standards will determine whether Nigeria can fully capitalise on Europe’s expanding mango market and translate production strength into export earnings.

  • ‘How to ensure effective waste management in Lagos’

    ‘How to ensure effective waste management in Lagos’

    The heaps of refuse doting Lagos metropolis which has gotten to an epidemic level can be checked by the government assisting PSP Operators with infrastructure upgrade, ensuring Cost Relative Tariff ( CRT), and employing environmental officers in each ward to ensure compliance.

    President, Association of Waste Managers of Nigeria (AWAMN), Olugbenga Adebola who spoke to The Nation in his office lamented the state of Lagos metropolis currently unlike when it used to be a role model in waste management that other countries in Africa were coming to learn how  the government of the day achieved a  beautiful Lagos environment without filth  during the administration of Governors Bola Tinubu and by extension that of Babatunde Fashola.

    He said it was like the eye of government had been taken from the ball and called for urgent measures to address the digression.

    He said: “ The government must create an enabling environment by assuring the Private Sector participants of their return on investment, government must ensure that  soft loans and grants are made available for Operators because currently a compactor truck is almost N180million and just how operators can afford it. Little reason you see incessant broken down trucks on the roads. “

    “If  the government fails to assist the players in the sector to acquire needed infrastructure, equipment and training of  participants nothing will happen in terms of having a clean environment”.

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    He stressed that the issue of waste management cannot be left to market variables adding that  there must be subsides to encourage participants as the United States and other governments of the world subsidise famers and other sectors to stay afloat.

     Effective and efficient waste management predates visit to hospital and should be avoided in a megacity such as Lagos he stated.

    He maintained that if government invests in the management of the environment little will be done to keeping the population healthy.

    On the other roles that can be played by government to achieve a filth free environment.

    He canvassed the need for government to meet the PSP operators half way by encouraging single digit interest to encourage them acquire the necessary tools for effectiveness.

    Tenement payment must be assigned to Operators to ensure that residents pay for the service because those who don’t pay for refuse collection are those who drop refuse carelessly on the road medians and drains frustrating attempts to have a clean city he stated.

    Also, Adebola called on the Federal Government to assign a special status to Lagos as done in India and other countries as a result of the  migration of people to the state.

    He argued in favour of massive rehabilitation of all dump site , access roads, multiple tipping point to ensure daily carting of refuse.

    The government must also institute a process of ensuring prompt payment in the extant laws to safe guard the PSP’s while also monitoring their activities that they are fulfilling their mandates to the citizenry.

    The AWAMN president also called for a lease- to- own mechanism as was obtainable during the administration of Babatunde Fashola where PSP operators where assisted to procure trucks which are still in use today.

     According to him with out such deliberate policy there will be no end to mountains of refuse.

    He encouraged a long term plan instead of half- measures and non sustainable knee- jerk plans which he said will never achieve the desired result.