Author: The Nation

  • Abductions: Between Safe Schools Initiative and policy implementation

    Abductions: Between Safe Schools Initiative and policy implementation

    The recent mass abductions targeting schools, especially schools in Kebbi and Niger states, have triggered a searchlight on operations of ‘Safe School Initiative’. It was launched in 2014 to protect students and educational institutions from attacks. Concerns have been raised over billions spent on its implementation, operations and effectiveness. Experts have called for its rejig, cost-effective funding with application of modern security architecture, Assistant Editor Bola Olajuwon reports.

    THE future of thousands of school children in Northern states remains uncertain, as many schools have been closed indefinitely due to rising insecurity, kidnapping and abductions, according to child rights activists and security experts. This is more so as hundreds of children were targetted in the surge orchestrated by bandits and religious militants like Boko Haram, ISWAP and other jihadist groups in the course of a few weeks.

    The country is already weighed down by 18.3 million out-of-school children nationwide, which is driven richly by insecurity and poverty. According to United Nations Children’s Fund (UNICEF), about 69 per cent of the out-of-school children are in the northern region.
    It is, therefore, argued that more children in the region will abandon education due to the psychological trauma of witnessing violent attacks or living in captivity.

    Kebbi and Niger abductions

    With the latest wave of horrific attacks on schools in Kebbi and Niger states, the Federal Government is facing intense pressure, both domestically and internationally, to address the crisis.

    The current kidnapping intensified after the United States (U.S.) Donald Trump administration ramped up pressures on Nigeria, designating it a “Country of Particular Concern” (CPC), which has sparked significant debate and political reactions.

    Incidentally, mass abductions occurred in both Kebbi and Niger states after the CPC’s designation, raising questions of correlations. While the school girls kidnapped in Kebbi have been rescued, most of the students and teachers taken in Niger State remain captive.

    Kebbi State abduction at Government Girls Comprehensive Secondary School, Maga town, Danko-Wasagu Local Government Area occurred after armed assailants attacked the school on November 17.

    Initially, 25 female students were abducted, but one escaped on the same day. The school’s vice-principal was killed and a security guard was injured during the raid. The remaining 24 school girls were rescued through a non-kinetic operation and have been handed over to the state government.
    Niger State abduction took place at St. Mary’s School in Papiri with armed gunmen abducting over 300 students and staff on November 21.

    Initial reports indicated that 303 students and 12 teachers were affected. But 50 students escaped captivity on their own and have been reunited with their families.

    Following the incident, the Niger State government ordered the closure of all schools in the state until 2026. The Federal Government also shut down 47 Federal Unity Colleges across Nigeria.

    Pope, rights group, others weigh in Pope Leo XIV, global human rights organisation, Amnesty International, and others have lent their voices against the attacks.

    The National Parents Teachers Association of Nigeria (NAPTAN), the umbrella body of parents of all public and private primary and secondary school students, called for an immediate review of all the programmes of the federal and state governments regarding the security of their children in school, warning the government against playing with the lives of their children.

    Specifically, the association berated the closure of some unity schools in the country as a result of the threat of attack by bandits, calling on the government to proffer a permanent solution to banditry rather than closing the schools.

    The National President of NAPTAN, Alhaji Haruna Danjuma, in a statement issued by his National Publicity Secretary, Dr. Ademola Ekundayo, bemoaned the way in which the Federal Government handles the security of students in recent times.

    The association called for an urgent dialogue with the Minister of Education, Dr. Tunji Alausa, to find a lasting solution to the security challenges confronting the education sector, especially secondary schools.

    Reacting on the abduction in an interview with The Nation, the National Coordinator, Education Rights Campaign (ERC), Hassan Taiwo Soweto, said he had argued repeatedly since the Chibok school girls abduction under President Goodluck Jonathan’s regime that “a govt that cannot fund public education appropriately, such that classrooms and other basic infrastructures in a majority of primary and secondary schools across the country are in dilapidated condition, cannot be expected to do anything significant in the area of keeping pupils and staff safe while in school.”

    On foreign dimension to the abductions, a former Vice-Chancellor of the Federal University Oye-Ekiti, Prof. Kayode Soremekun, warned that the spate of kidnapping and the consequent closure of schools, albeit temporarily, would not augur well for the country’s foreign image.

    The professor said: “We should remember here that the outside world is watching and taking due note of these untoward developments. It is instructive to point out that the Abuja-based diplomatic missions routinely send in reports on the country to their various and respective parent governments.

    “The hope here is that, in the not too distant future, sanity will prevail and our school system will regain its usual rhythm. Otherwise, and as things stand, we will continue to contend with this bad image.”

    Chibok girls abduction and Safe School Initiative

    Following the Chibok girls’ abduction, the “Safe School Initiative” was launched in 2014 to protect students and educational institutions from attacks. It was spearheaded by the Federal Government, the United Nations, and the private sector leaders. The goal was to enhance human security in schools through measures like relocating students from high-risk areas, rebuilding schools with enhanced security, and establishing community-led protection groups.
    The initiative aimed to achieve its goals through several components. School-based interventions included building new schools and reinforcing existing ones with extra security measures.

    Community interventions involved creating community security groups to help protect schools. Another component was dedicated to moving students from the most dangerous areas to safer schools in other parts of the country. The Nigeria Security and Civil Defence Corps (NSCDC) and the Police have established a National Safe School Response Coordination Centre and response squads. NSCDC thereafter embarked on registering 50,000 schools to improve emergency response.
    States like Ondo have also launched their own “safe school” portals for schools to register and enhance their emergency response capabilities.

    Safe Schools Initiative and poor impact of N122b budget, $20m security donations

    However, the initiative has faced challenges, opaque implementation of its core components and questions about the use of allocated funds amid continued attacks on schools.

    Eleven years after the idea was mooted, it resurrected last week at the hallowed Chamber of the Senate as a matter of discourse and for probe.

    Discussions by the Senate on the programme were provoked by the deadly raid on Kebbi school.

    The Senate resolved to carry out a full investigation into the SSI, questioning how funds allocated to the initiative were spent amid repeated attacks on educational institutions.

    The Federal Government had disclosed in November 2024 that an allocation of N122 billion had been made through the National Plan for Financing Safe Schools and would span the next three years.

    The Minister for Women Affairs, Imaan Suleiman-Ibrahim, disclosed this information in a statement released during the Universal Children’s Day with the theme, ‘Advancing Children’s Rights for a Sustainable Future.’

    Regarding the probe of the SSI, the Upper Chamber mandated its Standing Committees on Finance, Education, Defence, Army and Navy to carry out a holistic investigation into the funding and expenditure of the programme as it has seen little success in preventing mass abduction of schoolchildren.
    Resolution of the Senate was sequel to an urgent motion sponsored by Senator Yahaya Abdullahi, APC, Kebbi North following the Kebbi abduction.

    Soon after the presentation of the motion, senators began to contribute and the issue of the SSI came up when it was the turn of Senator Ahmad Lawan, APC, Yobe North to speak.

    Also, the Northern Christian Youth Professionals (NCYP) has criticised SSI over what it described as “weak visibility and poor impact” despite more than $20 million reportedly raised to secure schools.

    The group expressed its concerns in a statement issued on Friday and signed by its Chairman, Isaac Abrak. The NCYP said recent attacks on schools in northern Nigeria had reignited doubts about the SSI’s ability to protect vulnerable communities.

    “The Northern Christian Youth Professionals (NCYP) expresses concern over the renewed wave of attacks on schools across northern Nigeria, resulting in tragic killings and mass abductions of innocent students.

    “$20m raised; schools still under attack. These heartbreaking incidents call into question the effectiveness and visibility of the Safe Schools Initiative (SSI) and its partnership with the Nigeria Security and Civil Defence Corps (NSCDC),” the statement indicated.

    The group recalled that after the 2024 abduction of more than 200 students from Government Primary and Secondary School, Kuriga, Kaduna State, it urged President Bola Tinubu to recruit forest-side community members into the Forest Guard to protect schools.

    It noted that the SSI later announced a partnership with the NSCDC, a move the NCYP accepted but considered different from its initial proposal. However, the group said the continued attacks raised urgent questions.

    “What role did the Safe Schools Initiative–NSCDC partnership plays in protecting the schools that were attacked?” the association asked.

    Military is under fire

    With the outcry generated by alleged withdrawal of troops before Kebbi School attack, the military has said it is reviewing the alleged withdrawal of soldiers from the Government Girls Comprehensive Secondary School, Maga, in Kebbi State, before bandits attacked and abducted 25 schoolgirls.

    In a statement by the Defence Headquarters, it also assured that it would take immediate corrective action to prevent a recurrence if the ongoing review identifies any lapse or gap.

    Security experts and others intervene

    The Group Managing Director/CEO of Transworld Security and a physical security and counter-terrorist expert, Dr. Victoria Ekhomu, in an interview with The Nation, said due to rising insecurity in parts of Nigeria and school abductions, schools face risks such as more kidnapping and abductions, armed intrusion, theft and vandalism, community unrest and terrorist threats in high-risk areas.

    Dr. Ekhomu, who is also President of AISSON (Association of Security & Safety Operators of Nigeria), stressed that safe school architecture should focus on designing schools that naturally prevent, detect, and delay threats.

    According to her, principles of safe school architecture use Crime Prevention through Environmental Design (CPTED) principles: natural surveillance, natural access control, territorial reinforcement and defensible space design.

    These principles, according to her, make it harder to attack and easier to detect threats early.

    She added that the principles also emphasised on secure school layout design, clear perimeter design, building design for security, Visitor Management Architecture, Safe Drop-Off and Pick-Up Zones, Technology-Integrated Design with architectural plans including built-in infrastructure for CCTV cameras and mounting points, alarm wiring conduits, panic buttons, public address and emergency bells, and solar backup power rooms.

    Dr. Ekhomu noted that Emergency and Evacuation-Friendly Design, Landscaping for Security, Community-Focused Architectural Safety, Cost-Effective Security Architecture for Nigerian schools and compliance and standards must be considered in alignment with Nigeria Safe Schools Declaration, National Security Architecture guidelines and State Ministries of Education requirements.

    For budget-friendly schools, she advocated the use of locally-made strong fencing, concrete blocks instead of fragile panels, solar-powered lights, basic alarm systems and high-visibility layouts.

    “Safe school architecture in Nigeria must deter attackers, delay intruders, detect threats early, protect children through smart design. Buildings should act as silent security guards,” she said.

    A Texas, United States-based security and investigation expert, Ambassador (Dr) Oamien Roy Okhidievbie, in an interview with The Nation, said every structure or building where valuables are kept must have a commensurate security processes: access control, perimeter fence protection, accessibility protection, and external accessibility protection.

    “So, if you really look at this kind of schools now, the valuables we have in our schools, they are the highest valuable anyone can have, which are the children. So, a government school also tells about where we put our taxpayers money together.

    “So, the calibre of that state government or that federal government that is what you replicate in that public school. So, you must look at all the necessary and external physical security measures.

    “You must look at the standby team to intervene anytime there is armed incursion, and armed attack in that school. And there must also be safe zones inside the school, where the children can run into and lock, just like a vault, with its own light system, from solar and everything for the children and teachers to survive for a certain period of time before government rescue will come.”

    He added: “So, most of these things, there are devices too that you use that will do a total shutdown. So, even the perpetrators cannot come. So, we have a lot of structures to put in place, but physical security is key; deployment of technology is key, early warning systems, along the route path to that place and the equipment to send SMS to the police, to the army and the DSS.

    He regretted that the country’s public schools are poorly secured because government officials do not know that the most important value that a country has are the children in school.

    Soweto said to keep pupils and staff safe, government should invest more in the funding of public education alongside upliftment in school infrastructures.

    “Specific measures govt can take include provision of perimeter fencing with watch towers, armed guards to secure school gates, provision of school buses with armed escort to ensure safety of day students to and fro, school hostels to have dedicated night time security, deployment of security cameras all around schools manned 24hrs by a rotating staff. Govt should also liaise with NUT and the parent/teachers association and host communities to establish early warning mechanisms to prevent any threat in future,” he said.

    The NCYP appealed to President Tinubu to fully implement the Forest Guard programme and ensure it operates as a grassroots security model driven by residents.

    It said community members were the most reliable defenders of their schools and that “there is no substitute for the vigilance, courage, and determination of parents protecting their children.”

    The group urged the President to “avoid creating a bureaucratic institution” detached from the communities it should protect.

  • I’d have been a Maths teacher if music didn’t work – Tems

    I’d have been a Maths teacher if music didn’t work – Tems

    Afrobeats singer Tems has opened up about her alternative career paths if music hadn’t worked out.

    During an interactive session with fans on X, she revealed she’d have been an accountant or a mathematics teacher.

    “If music didn’t work, what else do you think you would be doing today?,” a fan asked.

    Tems responded, “I might have been an accountant or a mathematics teacher.”

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    Before rising to fame, Tems worked as a digital marketer, a job she left in January 2018 to focus on her music career.

    Just a few months later, she released her debut single ‘Mr Rebel’ in July 2018, which gained traction in Nigeria.

    Tems’ breakthrough came with her feature on Wizkid’s 2020 single ‘Essence’, which peaked at number 9 on the Billboard Hot 100 chart after the remix with Justin Bieber.

  • NACCIMA extols Awolowo Jr’s contributions to economy

    NACCIMA extols Awolowo Jr’s contributions to economy

    The respective tenures of the late Chief Executive Officer (CEO) of both the National Coordinating Office (NAC) of the African Continental Free Trade Area Agreement (AfCFTA) and the Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo Jr., stood out as beacons of ultimate professionalism and patriotic duty, contributing significantly to Nigeria’s export architecture and development.

    The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), which made this known over the weekend, said the contributions of Awolowo Jr., a distinguished public servant & technocrat, strengthened the bridge between enterprise and national growth.

    Awolowo Jr., who was a grandson of late foremost nationalist and statesman, Chief Obafemi Awolowo, died at the age of 62, with NACCIMA President Jani Ibrahim expressing deep regret and sorrow at his demise.

    The NACCIMA President, in a statement, stated that within the broader ecosystem of Nigeria’s private sector, policy institutions and development frameworks, his work echoed a legacy rooted in disciplined leadership and strategic foresight.

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    “His voice, often calm, yet compelling, added depth to conversations that helped shaped our national economic outlook,” he added.

    According to Ibrahim, “NACCIMA extends heartfelt condolences to the entire Awolowo clan, his wife, children, grandchildren, staff of both NAC and NEPC and many other colleagues and compatriots who cherished his professionalism, wisdom and personal warmth.

    “His passage is a reminder of the beauty of stewardship and the enduring power of a fulfilled life lived purposefully.”

  • ‘Closed automation systems erode competitiveness’

    ‘Closed automation systems erode competitiveness’

    Closed industrial automation systems are quietly eroding competitiveness, costing mid-sized organizations an average of 7.5per cent of their revenue through downtime, inefficiencies, and compliance retrofits every year, according to a new report released yesterday.

    The new global research which was unveiled by Schneider Electric, the leader in energy technology, was titled: “Open vs. Closed: The $11.28 million Question for Industrial Leaders.”

    The research, conducted by Global Analysts firm Omdia, highlights how these costs stem from operational inefficiencies, downtime, compliance retrofits, and delayed production, issues often masked by the perceived reliability of legacy automation systems.

    For large enterprises, losses average $45.18 million, while smaller manufacturers face even steeper proportional impacts, losing up to 25 per cent of annual revenue.

    Traditional, hardware-defined automation systems, built for static environments, struggle to meet today’s dynamic industrial demands. Their rigidity turns routine updates into costly technical projects, while proprietary architectures limit data access, reducing visibility and responsiveness.

    At the core of the challenge is hardware complexity. Most companies operate across 2 to 10+ distinct platforms, each with unique maintenance needs. This fragmentation drives vendor dependency; 30% of issues require specialized support, and this strains workforce efficiency due to niche technical expertise required at a time when companies are facing workforce and skills shortages. Siloed systems also hinder predictive maintenance and fast issue resolution, leading to costly downtime and lost productivity. These inefficiencies scale across operations, limiting agility.

    The research underscores an urgent need for transformation. Open, software-defined automation offers a scalable, future-ready solution that modernizes legacy systems, accelerates ROI, and strengthens industrial competitiveness and resilience.

    By decoupling software from hardware, manufacturers gain the flexibility to integrate multi-vendor systems, adapt quickly to market shifts, produce small batches efficiently, and close engineering skill gaps. Real-time data becomes actionable, driving smarter decisions, boosting productivity, and reducing costs at scale.

    Schneider Electric customers are already realizing these benefits. Many begin with pilot projects or asset-level trials, then expand to full-plant or multi-site deployments, unlocking full data ownership, improved quality control, and greater cost transparency, while protecting existing investments.

    Executive Vice President, Industrial Automation, Schneider Electric, Gwenaëlle Avice Huet, said the research is an echo of the feedback from customers.

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     “This research echoes what our customers tell us every day: industrial systems must adapt as fast as their markets. It’s particularly encouraging that smaller enterprises, the backbone of our economy, stand to gain the most in annual savings that can be reinvested in innovation and growth. Open, software-defined automation is a proven solution that empowers industrial players of all sizes build resilience, drive innovation, and thrive amid rapidly shifting consumer demands, regulatory pressure and market volatility,” Huet said.

    The report noted that key cost areas break down into four critical parts, annually. These are $6.1million in Operational Agility & Resilience losses. Inflexible hardware systems hinder responsiveness to market shifts, as 77.4per cent require physical modifications for functionality updates, while multiple vendor platforms create integration complexity. Modification costs range from $25K–$50K per hour, rising to $250K/hour for $1B+ companies.

    Another cost element is $2.28million in Optimization & Efficiency costs. Maintenance burdens, downtime, and talent gaps as hardware complexity drives operational inefficiencies. Companies manage 2-10 different industrial systems on average; 29per cent deploy 10+ hardware platforms, each with unique management requirements.

    There is also the $1.2million in Preventable Quality Failure and Costly Data maintenance. Proprietary systems create data silos and limit integration. Only 28per cent of companies access real-time insights; half report that 20–39per cent of critical data isn’t available in real time.

    Finally, there is $1.7million in Sustainability & Compliance Costs. Regulatory changes demand costly hardware retrofits, driving up compliance expenses.

    Principal analyst, Omdia, Anna Ahrens, added: “In response to mounting pressures, industrial leaders are deploying tactical solutions to sustain their core priorities of growth, competitiveness, and trust. In a world where product lifecycles shrink, supply chains fracture, and talent gaps widen, agility and flexibility aren’t optional. They are survival. Every quarter a business delays addressing the cost of closed automation ecosystems is another $1million+ in lost value: the money that could be reinvested in growth and innovation.”

    It also showed that rigid infrastructure slows response, adding that 77per cent of systems need physical updates; fragmented platforms increase complexity and delay action.

    Open, software-defined automation offers a way forward by decoupling software from hardware; it enables faster decisions, real-time insights, and competitive resilience.

  • NECA: PPP, others vital to ‘Nigeria First’ policy

    NECA: PPP, others vital to ‘Nigeria First’ policy

    The Nigeria Employers’ Consultative Association (NECA) has identified a strong public-private partnership, backed by reforms that reduce import dependence, ease pressure on the Naira, and support backward integration as vital to the full realisation of the Nigeria First Policy.

    Its Director-General of NECA, Mr. Adewale Smatt Oyerinde, who spoke when NECA convened a high-level virtual Knowledge Sharing Session (KSS) for employers nationwide, with “Nigeria First Policy: Unlocking Opportunities for Businesses and the Economy” as theme, reaffirmed the commitment of NECA to advancing enterprise competitiveness and national economic development through proactive policy advocacy.

    He emphasized the need for a more competitive and business-friendly environment, while urging employers to proactively patronize Nigerian products and services.

    The virtual engagement was designed to deepen understanding of the Federal Government’s Nigeria First Policy and explore its implications for private-sector growth.

    The Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Ambassador Nura Abba Rimi who was represented by the Director, Industrial Development Department, Mrs. OlumuyiwaAjayiade, made a detailed presentation on the policy’s objectives and strategic priorities. She explained that the Nigeria First Policy prioritizes local goods and services in public procurement, enhances local content participation, and promotes economic growth through targeted government expenditure. She further stated that the initiative aligns directly with President Bola Ahmed Tinubu’s Renewed Hope Agenda, focused on industrialization, strengthening local production, and shielding the economy from global disruptions.

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    Also addressing the session, the Director-General of the Bureau of Public Procurement, Dr. Adebowale Adedokun, highlighted procurement and local content requirements under the policy. He assured stakeholders that the Nigeria First Policy aims to empower local enterprises, promote quality standards, and improve global competitiveness of Nigerian products. He disclosed that implementation guidelines are currently being finalized and will be shared with NECA for further stakeholder engagement.

    Representing the business community, the Chairperson of NECA’s Committee on Corporate Communications and Public Affairs Experts, Ms. Victoria Uwadoka, stressed the importance of sustainable enterprise growth and outlined the strategic opportunities the policy presents for Nigerian companies.

    The Knowledge Sharing Session recorded strong participation across sectors, with robust interaction and positive feedback from employers. Participants acknowledged the session as timely and expressed confidence in the policy’s potential to drive business expansion and national economic transformation.

    NECA remains fully committed to working with government and the private sector to ensure successful implementation of the Nigeria First Policy and to champion initiatives that strengthen the Nigerian economy.

  • Real estate firm expands to UK, others

    Real estate firm expands to UK, others

    A real estate firm, Akmodel Homes and Properties, said it has expanded its foothold to the United Kingdom (UK), Ghana and Côte d’Ivoire.

    The company which is celebrating its fifth anniversary of  resilience, innovation and commitment to excellWnce in the Nigerian real estate sector already has presence in Lagos, Awka, Uyo, Ibadan, Abeokuta, Ilorin, and Enugu.

    Its CEO, Dr. Abdulhakeem Odegade, said in the few years of the company’s existence, it has expanded its portfolio with strategic projects, modern estates, empowered realtors, and strengthened its reputation as a brand with vision.

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    According to him, the company’s growth story is a testament to consistency, dedication and the belief that Nigeria’s real estate industry can thrive when excellence is placed at the center of service, he added.

    He expressed gratitude to their loyal clients, partners, realtors, staff and supporters whose trust and commitment have fueled its journey.

    Odegade said the company remained committed to raising industry standards, creating more opportunities, building sustainable communities and shaping the future of real estate in Nigeria.

    From a humble beginnings, Akmodel Homes and Properties has grown into a trusted and influential brand, known for delivering quality housing solutions, fostering meaningful partnerships, and contributing significantly to economic development. Over the past years, the company has maintained its focus on integrity, professionalism, customer satisfaction and community impact values that continue to guide its operations.

  • Tax reform:Only 5% of Nigerians will pay tax, says FIRS boss

    Tax reform:Only 5% of Nigerians will pay tax, says FIRS boss

    Executive Chairman, Federal Inland Revenue Service (FIRS) Dr Zacch Adedeji yesterday revealed that 95 per cent of Nigerians will pay no tax under the new tax regime.

    He added that the new tax system would fairly affect the high-heeled in the country.

    The FIRS chief spoke in Ilorin, Kwara State shortly after he received an award from the University of Ilorin Alumni Association.

    He said the “focus will be on those at the top of the pyramid.”

    He said from January next year, FIRS would have a name change.

    Represented by Prof Abiola Sanni (SAN), the FIRS chairman said: “from January 2026 FIRS will have a name change. Is it going to be a new wine on old bottle? No. Looking at our revenue challenges that we face as a nation and our consistent ranking in terms of tax to GDP ratio, we must create new approaches to taxation.

    “I want to assure you that the tax system that is about to debut in January 2026 is a tax player-friendly one. It is one that is business-friendly. I daresay that there has never been a reform of taxation in this country that is this transformative and business-friendly.

    “Let me explain in case there are doubting Thomases among us, the tax system in the past used to focus on the people at the bottom. And what do I mean I that both it affected those at the informal sector and those in paid employment.

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    “Under the new emerging tax system, 95 per cent of Nigerians will pay no tax. Whether you like it or not those whom God has blessed and those benefiting from the economy but have not been paying their own fair share of the tax burden will be now be made to do so.

    “Like I said they will be made to do so fairly. In some countries whereas the tax rate may be as high as 50 per cent, but in Nigeria after the deduction of all the deductibles from the ‘big boys and big girls the tax will only be 25 per cent of what they earn.

    And we need this to develop infrastructure, provide education, revamp the system. Without a good tax system we are going nowhere as a country.

    “Finally you should be on the lookout for a new tax institute. We are changing the name to also signpost the fact that FIRS is not a federal institution now.”

  • Fed Govt restates support for private-sector investments

    Fed Govt restates support for private-sector investments

    • Approves new Customs leadership appointments

    The Federal Government has pledged continued support for private-sector investments capable of driving industrialisation, expanding supply chains and creating sustainable employment across the country. In a statement issued by the Ministry of Finance yesterday, the Minister of Finance and Coordinating Minister of the Economy,  Wale Edun, said the government was committed to working closely with local manufacturers whose investments are strengthening Nigeria’s productive base.

    He gave the assurance during a meeting in Abuja with executives of Folay West African Limited, where the company presented its expansion plans aimed at boosting domestic manufacturing and deepening the agricultural value chain. Folay Industries, a Nigerian-owned fast-moving consumer goods manufacturer operating from the Lekki Free Zone, has invested more than N11 billion in local production. According to the ministry, the company sources grains domestically and has continued to create employment opportunities through backward integration.

    It is also one of several indigenous manufacturers replacing imports with competitive products made in Nigeria.

    Mr. Edun, who welcomed the company’s progress, said, “Initiatives such as those undertaken by Folay Industries reflect the movement toward value-added production, which is vital for economic diversification and long-term growth.” He added that the administration would continue to encourage private-sector initiatives that strengthen Nigeria’s industrial capacity and contribute to national development.

    The meeting, the ministry noted, demonstrated the government’s steady support for the manufacturing sector at a time when the country is navigating the demands of diversification. “Partnerships with the private sector will be central to driving growth, creating jobs and building a resilient economy capable of securing a brighter future for Nigeria,” the statement added.

    In a separate development, Mr. Edun on Tuesday chaired the 64th Regular Meeting of the Nigeria Customs Service Board, where key leadership appointments and promotions were approved to enhance operational effectiveness and support the ongoing transformation of the Service.

    The Board confirmed five Deputy Comptroller-Generals and eight Assistant Comptroller-Generals in line with the Nigeria Customs Service Act, 2023 and the Federal Character principle. It also approved Special Promotions for ten officers who were recognised for what the ministry described as “exceptional professionalism and significant contributions to national revenue and security.”

    The ministry explained that the reforms form part of a continuing effort to modernise Customs operations, improve leadership succession and strengthen trade facilitation, transparency and border management.

    As Nigeria expands non-oil revenue sources and promotes private-sector–driven growth, a more agile and technology-driven Customs Service is expected to play a critical role in reducing bottlenecks, improving clearance timelines and enhancing competitiveness under the African Continental Free Trade Area (AfCFTA).

  • MAN: 37% borrowing cost hurts production, competitiveness

    MAN: 37% borrowing cost hurts production, competitiveness

    The Manufacturers Association of Nigeria (MAN), yesterday, lamented that at between 30 and 37 per cent, borrowing costs remain high for manufacturers, and this rate hinders production and reduces the manufacturing sector’s competitiveness.

    MAN, therefore, called on the Central Bank of Nigeria (CBN) to review downward the benchmark interest rate in subsequent meetings of its Monetary Policy Committee (MPC).

    The Association said adopting a downward review of the rate will lessen the burden of high borrowing costs and incentivize long-term investments in manufacturing, particularly in capital-intensive sub-sectors.

    MAN Director General Segun Ajaiyi-Kadir made this position known on Wednesday while reacting to the report of the 303rd meeting of the MPC held from November 24 -25, 2025.

    The MPC had at the meeting agreed to retain the benchmark interest rate at 27.00 per cent that was fixed at its September meeting.

    It also adjusted the Standing Facilities Corridor to +50 / -450 basis points around the MPR from +250/-250 basis points to encourage borrowing from the central bank, pushing commercial banks to lend more and reducing upward interest-rate volatility.

    The cash Reserve Ratio (CRR) was also retained at 45 per cent for commercial banks and 16 per cent for merchant banks.

    The Committee also retained the 75 per cent CRR on non-TSA public sector deposits to manage excess liquidity while maintaining the liquidity ratio at 30 per cent.

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    The Committee members expressed satisfaction with Nigeria’s macroeconomic stability, highlighting key improvements such as the continued slowdown in inflation, steady real output growth, a stable exchange rate, and stronger external reserves.

    They particularly noted the accelerated pace of disinflation standing at 16.05 per cent in October 2025, the most significant in seven months, attributing this progress to sustained monetary tightening, increased capital inflows, a surplus in the current account, as well as moderating fuel prices, all of which have collectively eased the inflationary pressures.

    Reacting, MAN said it appreciates the MPC’s decision to halt the increase in MPR and to maintain the 27.00 per cent fixed at the last meeting, including the decision to adjust the standing facilities corridor to enhance liquidity

    Ajaiyi-Kadir, however, said MAN’s expects a further reduction in the rate to reduce the cost of borrowing for manufacturers.

    He lamented that despite the reduction at the MPC’s last meeting, borrowing costs of 30 to 37 per cent remain high for manufacturers, which hinders production and reduces the competitiveness of the sector.

    The MAN DG insisting that it is essential to reduce the cost of funds to encourage borrowing for expansion and investment.

    He added that the emphasis on exchange rate stability and improved forex liquidity is also vital, as manufacturers rely on foreign exchange for imports.

    He further stated that persistent high lending rates will further limit access to affordable credit for manufacturers, especially those within the Small and Medium Industries (SMI) cadre.

    “The situation is complicated with prevailing structural challenges like poor infrastructure, high logistics costs, inadequate electricity supply, high energy cost and insecurity that cumulatively raise production costs and weaken competitiveness,” Ajaiyi-Kadir said.

    He urged the CBN and other policymakers to continue to pursue policies that foster inclusive growth, incentivize manufacturing and address binding constraints limiting the performance of the sector.

    “The CBN should also strengthen handshake with fiscal authority to promote reforms capable of unlocking the full potential of the manufacturing sector.

    CBN should consider additional policy instruments or incentives that facilitate credit flow to the real sector of the economy, especially the manufacturing sector,” the MAN chief added.Top of FormBottom of Form

    Ajaiyi-Kadir also urged closer collaborate between the Federal Government and CBN to stabilize the naira and manage external risks by monitoring the potential risk of capital flights because of the MPC’s corridor review that will push banks to lend more.

    MAN also recommended the implementation of complementary fiscal measures that support industrial development and promote structural reforms especially in real sectors of the economy including Agricultural, Manufacturing and Energy sectors to further reduce inflationary pressure.

    It also called for urgent resolution of the lingering spate of insecurity in the country, especially in agricultural and industrial zones to stabilize food supply and raw material inputs.

    “A secure environment is critical to food security, lower inflation rate and sustained industrial growth in both urban and rural areas,” Ajaiyi-Kadir said.

    He also urged CBN to monitor and evaluate the impacts of previous MPC decisions on credit access to the real sector to aid informed position at subsequent meetings.

  • Stakeholders set agenda for industrial growth at IMT forum

    Stakeholders set agenda for industrial growth at IMT forum

    The Federal Ministry of Industry, Trade and Investment, in partnership with dmg Nigeria Events, has announced plans for a high-level summit that will convene policymakers, industry leaders and investors to define West Africa’s next phase of industrial growth.

    The West Africa Industrialisation, Manufacturing & Trade (West Africa IMT) Summit & Exhibition is scheduled for March 3–5, 2026, in Lagos.

    With “Accelerating West Africa’s Sustainable Industrial Revolution for Economic Prosperity,” as theme, the event will serve as a strategic platform for examining how regional policy shifts, cross-border supply chain integration and private-sector partnerships are reshaping the industrial landscape.

    Organisers noted that West African governments and businesses are gradually moving from extractive-driven economies toward industrialisation anchored on technology, regional integration and sustainable value creation.

    According to the statement announcing the summit, the subregion is witnessing rapid transformation powered by established manufacturing clusters, expanding processing capacity and advancements in digital innovation and next-generation industries.

    Read Also: SanlamAllianz, Cornerstone, others throw weight behind IMT 4.0

    Nigeria’s incoming National Industrial Policy (NIP) was highlighted as one of the region’s most ambitious upgrade programmes. The NIP prioritises technology adoption, equipment financing and digitised manufacturing as core drivers of long-term economic competitiveness.

    Portfolio Director, Africa, and Country Director, Nigeria, at dmg events, Wemimo Oyelana, said the summit comes at a defining moment for the region’s industrial evolution.

    “The next chapter of West Africa’s industrial growth will be shaped by innovation in areas such as advanced manufacturing, gas-based production, technology adoption, and stronger policy alignment,” he said.

    According to him, the West Africa IMT Summit is designed to set strategic priorities and shape the regional industry agenda.

    “We are convening industry leaders, policymakers, innovators and investors to turn ideas, reforms, and emerging technologies into real industrial outcomes across the region,” Oyelana added.

    He noted that participants at the 2026 summit will gain firsthand insights into the region’s fast-evolving manufacturing environment and the opportunities driving sustainable growth. Delegates will also engage in high-level discussions, technical sessions and strategic networking focused on emerging investment frontiers, policy frameworks and cross-border collaboration models that can accelerate competitiveness across West Africa’s industrial ecosystem.