The Nation Newspaper

Category: Business

  • Abode calls for democratisation of real estate sector

    Abode calls for democratisation of real estate sector

    Abode Assets Limited has called for democratization of the real estate sector to allow low-income earners tap into the immense benefits.

    Abode’s commitment to spreading the gain in the sector to the grassroots was solidified over the weekend with the official launch of the massive 100-acre Empire Park Estate, a project designed to prove that real estate investment is no longer the exclusive preserve of the ultra-wealthy.

     In a move that challenges industry norms, Abode unveiled a model where investors can become certified landowners with a commitment of as little as ₦100,000.

    This low entry barrier is central to the company’s mission of ‘Shared Prosperity,’ allowing everyday Nigerians to access genuine wealth.

     Redefining access and transparency at the launch, Mr. Jeffrey Itepu, CEO of Abode Assets, reiterated the company’s inclusivity mandate, saying : “Irrespective of your income level, location, or social class, you should be able to participate in the prosperity that is in real estate.”

     Backing this vision with operational excellence, the COO, Mr. Damilare Oshokoya, highlighted how technology ensures safety for their growing community of over 2,000 investors across 13 countries:

    READ ALSO: Ulerawa: How Oyebanji’s reforms is turning Ekiti public hospitals into centre of hope

     “One of the things that made the system smooth and transparent is that it was digitalised from the onset. With Abode, you get all information at the tap of a button.”

     Guests enjoyed horse riding and face painting, signaling that wealth creation can be a joyful, community-centric experience. As one new landowner noted, “I enjoyed horse riding… but owning land? That’s generational wealth.

     “With Empire Park, Abode Assets Limited has fundamentally changed the narrative, proving that with the right partner, wealth is accessible to everyone.”

  • Railways: 60 years of neglect haunting Nigeria – Opeifa

    Railways: 60 years of neglect haunting Nigeria – Opeifa

    • NRC boss says Tinubu’s rail policy offers new hope

    Nigeria lost a critical sixty years of rail development due to consistent government neglect, the Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has revealed.

    In an interview on The Exchange Podcast, hosted by Femi Soneye, Dr. Opeifa painted a stark picture of the nation’s rail history, comparing its stagnant 4,000 km network to South Africa’s 35,000 km.

    Dr. Opeifa traced the roots of the current infrastructure deficit to a prolonged period of inaction. “For 60 years after 1912 we built nothing, we did nothing,” he stated, highlighting that from 1962 to 2000, no significant rail development occurred. This stagnation occurred while other nations advanced from narrow gauge to standard gauge, high-speed rail, and even Maglev technology.

    The NRC MD credited the Obasanjo administration with awakening to the need for rail modernization in 2002, an idea initially proposed by Chief Obafemi Awolowo in the 1970s. However, he suggested that even this effort lost momentum after its initial phase, until a more recent renewed focus under subsequent governments.

    The single most significant policy change, according to Dr. Opeifa, was the 2023 constitutional amendment that moved rail from the Exclusive Legislative List to the Concurrent List. This move effectively allows state governments, local governments, and the private sector to invest in and develop rail infrastructure, breaking the federal monopoly.

    He cited the example of Lagos State, which was previously “frustrated by the federal government” in its efforts to develop intra-city rail lines like the Red, Blue, Green, and Purple lines. “Now nobody can frustrate anybody,” Dr. Opeifa declared, signaling a new era of sub-national rail development.

    READ ALSO: Delivering in despair: Why maternal deaths remain high in Cross River

    The NRC boss outlined a three-pillar framework for successful rail development: statutes (laws and regulations), structures (implementing agencies), and processes (operational guidelines). He emphasized that with the law now amended, the focus must shift to creating the right structures and processes at both federal and state levels.

    He confirmed that not less than six state governments, including Lagos, Kaduna, Kano, and Borno, are now actively developing their own metro rail plans, having been empowered by the new legal framework. This decentralized approach is expected to accelerate the pace of rail infrastructure rollout across the country.

    The Federal Government is also complementing this by preparing a new National Rail Master Plan, which Opeifa indicated is ready for launch. This master plan aims to connect all states of the federation with national rail lines, a project he described as critical for national integration and economic development.

    Opeifa expressed optimism, stating that with the right policies in place, many states could commence rail construction by 2026.

  • Sanwo-Olu, Finance Minister, others  push for urgent reforms to achieve $1 trillion economy

    Sanwo-Olu, Finance Minister, others  push for urgent reforms to achieve $1 trillion economy

    • As NICA hosts 2025 credit managers conference

    The 2025 National Institute of Credit Administration (NICA) Credit Managers Conference and Industry Awards last Wednesday, brought together top government officials, industry captains and credit professionals, with renewed calls for a sweeping overhaul of Nigeria’s credit regulation framework.

    The event was attended by dignitaries including Lagos State Governor Babajide Sanwo-Olu, represented by the Permanent Secretary of the Lagos State Debt Management Office, Alake Sanusi, and the Minister of State for Finance, Dr. Doris Uzoka-Anite.

    NICA Registrar/CEO, Prof. Chris Onalo, described the conference as “one of the most important platforms for stakeholders committed to advancing credit management and contributing to Nigeria’s economic stability.”

    Delivering the keynote address, the founder and Chief Consultant of B. Adedipe Associates Limited, Dr. Biodun Adedipe, said Nigeria cannot achieve its $1 trillion economy ambition by 2030 without a vibrant, transparent and well-regulated credit system.

    He criticised what he called the Central Bank of Nigeria’s “one-size-fits-all regulation,” arguing that commercial, mortgage and microfinance banks operate under different realities. Adedipe warned that current liquidity ratio policies continue to limit lending, noting:

    “The CBN has raised the loan-to-deposit ratio to encourage lending, yet imposes liquidity and reserve requirements that push banks toward liquid assets instead of credit expansion.”

    Adedipe urged the CBN to redefine its mandate to reflect price stability, job creation and financial stability, stressing that nearly 90 per cent of Nigerian adults still rely on informal credit.

    He insisted that regulators must incentivise formal lending if Nigeria intends to deepen financial inclusion. “We must deepen the formal credit market if we truly want inclusive growth,” he stated.

    Representing Governor Sanwo-Olu, Alake Sanusi applauded NICA’s role in pushing critical reforms aimed at strengthening the national credit ecosystem. He noted that Lagos has prioritised policies that support a resilient and transparent credit system.

    Read Also: Tinubu reaffirms security, unity, community resilience as core priorities

    “A functional and well-regulated credit system is essential for supporting MSMEs, deepening financial inclusion and driving sustainable growth,” he said, assuring that the state remains committed to responsible borrowing and credit governance.

    The Minister of State for Finance, Dr. Doris Uzoka-Anite, also addressed the gathering, warning that Nigeria’s credit market is increasingly exposed to risks of abuse, instability and systemic shocks.

    She emphasised that the health of the nation’s credit system is directly linked to its economic foundation. “The strength of a nation’s credit system is closely tied to the strength of its economic foundation,” she said.

    Uzoka-Anite added that fixing current weaknesses requires a coordinated and multi-sectoral partnership among regulators, policymakers, financial institutions, practitioners, technology providers and academics.

    Earlier in his welcome remarks, Prof. Onalo highlighted the significance of the conference theme, ‘Credit Policy and Regulation: The Frameworks and Policies that Impact Credit Management in Nigeria’, describing it as timely given the country’s evolving financial and regulatory environment.

    He noted that the gathering provides “enormous networking opportunities” and equips participants with insights on credit risk management, compliance and emerging technologies shaping modern credit administration.

    NICA President, Mr. Andy Ojei, praised the newly inducted members, graduates and award recipients, describing their achievements as a testament to professionalism and discipline within the credit sector.

    He reiterated the institute’s statutory mandate under Act No. 26 of 2022 to regulate and promote credit administration in Nigeria, stressing that effective collaboration between government and the private sector is vital for sustainable economic growth.

    “Government cannot implement its economic development policies in isolation,” he said, calling for deeper partnerships to advance Nigeria’s credit culture.

    The event also featured the 10th Annual Nigeria Credit Industry Awards, honouring outstanding contributors across various categories, from entrepreneurs and credit managers to innovative financial analysts.

    As the ceremony progressed, Prof. Onalo reminded attendees that every activity – from the conference deliberations to graduations and inductions – marks “a step toward building a more resilient, inclusive and prosperous credit economy for Nigeria.

    ”

    He expressed optimism that the 2025 conference would inspire fresh ideas, reinforce partnerships and strengthen the collective resolve to transform the nation’s credit system.

  • Expert blames slow economic progress for poor industrialisation

    Expert blames slow economic progress for poor industrialisation

    A Senior Partner and Economist at SPM Professionals, Paul Alaje has identified weak industrialisation as a major reason for Nigeria’s slow economic progress, while urging policymakers to prioritise the manufacturing and secondary sector, stating that Nigeria’s economic miracle is in the secondary sector.

    Alaje made this disclosure at a Business, Economy and Financial Reporting training organised by Premium Times Academy in collaboration with the Central Bank of Nigeria in Abuja, stating that until the government fix that, successive governments will keep trying, but results will remain minimal.

    He explained that, “In America, until it went through the Industrial Revolution, it never became a great nation, not even in the  manufacturing of weapons, same with Brazil, China has elevated 200 million people in less than two decades, which is Nigeria population in 20 years. The recent democracy is over 20 years old.

    The secondary sector which is made up of manufacturing, industry and construction is the country’s best path to sustainable growth, he stressed.

    Read Also: Jonathan accuses Embaló of orchestrating ‘ceremonial coup’ in Guinea-Bissau

    Expatiating, he said, “The dominance of the tertiary sector over the years had stifled productivity and slowed development, while the primary sector, consisting of oil and gas,  mineral resources contributes significantly to government revenue, it does not generate broad-based employment or inclusive growth. Government should prioritise industrialisation and infrastructure investments. A vibrant secondary sector would stimulate job creation, improve exports and reduce the nation’s reliance on debt.”

    The media, he emphasised, “should make it a point of duty to promote data-driven economic reporting and to track trends rather than isolated statistics, as sustained policy consistency and industrial development are key to achieving long-term stability. The focus for this training is on improving data-driven journalism and deepening understanding of monetary and fiscal policies.”

    Also speaking at the event, the Senior Manager, Business and Partnerships at Premium Times Services Limited, Olayinka Lawal, said the Premium Times Training Academy was established to strengthen professionalism, ethics and excellence in journalism through continuous learning and practical exposure. Journalists he said are not only chroniclers of events but also nation-builders whose stories help shape perception, policy and progress.

    He added that, Premium Times partnership with Central Bank of Nigeria for this training is to improve the quality of financial journalism and ensuring that economic reporting remains factual, ethical and insightful.

    These two days training is designed to deepen participants’ understanding of Nigeria’s economic and financial systems, strengthen their analytical capacity and improve how complex financial policies are communicated to the public.

  • Food Bank unveils technology to combat hunger nationwide

    Food Bank unveils technology to combat hunger nationwide

    The MATAN Food Bank Professionals Association of Nigeria (MATAN) has launched the Automated MATAN Food Security Initiative (AMESI/METS), a nationwide effort aimed at combating hunger and improving food security across the country.

    The initiative was officially launched during a national flag-off ceremony that brought together key stakeholders in agriculture and community development to unveil the framework designed to transform food access and distribution in Nigeria. The three-day event, held at the National Institute of Sport (NIS) in Surulere, Lagos, attracted farmers from all 36 states and the Federal Capital Territory.

    The National President of MATAN Group and Chairman of its Board of Trustees, Mr. Olakunle Johnson described the initiative as a “spiritual project” focused on strengthening food systems from the grassroots level. He emphasized that the program offers sustainable solutions to hunger by equipping communities with modern tools for food production, tracking, and distribution.

    Johnson noted that solving local problems requires local solutions. “Many of the challenges in Nigeria will resolve themselves once food is abundant,” he said, expressing hope that increased food availability will also help address insecurity.

    He pointed out that insurgency and banditry often flourish where hunger and deprivation are widespread.

    One of the key features of the program is the use of a multipurpose digital identity card system, which will enhance transparency and ensure more efficient food distribution across the country. Johnson called on the Federal, State, and Local Governments, as well as development commissions, to support the full implementation of the project.

    He further stressed that hunger is a major driver of insecurity, and that lasting peace can only be achieved if all citizens have reliable access to food.

    Read Also: Tinubu reaffirms security, unity, community resilience as core priorities

    The initiative will use digital identities, community enumeration, and automated food distribution systems to prevent long food queues. Households will receive digital food security cards linked to Bank Verification Numbers (BVN) and National Identification Numbers (NIN). MATAN aims to enumerate over 200 million Nigerians, ensuring that children, vulnerable groups, workers, and households can access targeted food resources.

    Community kinship teams will play an essential role by collecting data, managing food banks, and operating street-level feeding machines for both cooked and uncooked food. To ensure a steady supply of food, MATAN has partnered with large-scale farmers who will produce the food, while MATAN handles storage, logistics, and distribution.

    In addition, the program includes land automation and community farming initiatives, allowing both landlords and tenants to provide land for mechanized cultivation.

    Johnson emphasised the need for a nationwide push for productivity, urging every community to return to farming in order to eliminate hunger and reduce insecurity.

    He expressed confidence that the project will show tangible results within a year, boosting food supply, employment, and national security.

    Also, speaking at the event, Vice President for the North West Zone, Alhaji Abba Imam, explained that the initiative follows a bottom-up model to ensure active participation from communities.

    He outlined the organizational structure of the initiative, which includes the National Advisory Council, Women in Agriculture, the National Executive Council, and various zonal and state councils.

    Dr. Goni Faruk Umar highlighted the IMF’s warning of an impending food crisis, which prompted MATAN to launch a grassroots farming scheme to enhance national food security. The scheme will mobilise young people, provide them with farmlands, and buy their produce for subsidised distribution in local communities.

    Former Gombe Deputy Governor, Senator Joshua Lidani, called the initiative “unprecedented” and urged stakeholders across Nigeria’s food sector to collaborate with MATAN.

    He expressed confidence that the project would significantly improve food security and strengthen the agricultural economy within two years.

    Dr. Olajide Bashorun, Chairman and CEO of Miss Farms Ltd, also stressed the importance of uniting farmers to build a stronger food security system for Nigeria.

    Bashorun, who also chairs the Food Security and Sustainability Committee of MATAN Food Bank Foundation, underscored that collective action is essential to ensuring sustainable food production.

    He explained, “By bringing farmers together, we can provide them with the necessary resources and support to increase productivity, improve incomes, and ensure a steady food supply for our communities.”

    Bashorun also highlighted the social impact of the initiative, noting that hunger drives numerous societal challenges, from poor health to social unrest. “By conquering hunger, we stabilize communities, boost productivity, and foster social harmony. Food is the key to unlocking human potential,” he said.

    He further elaborated that MATAN plans to register farmers through its online portal, supply critical inputs at competitive prices, and purchase their produce at agreed farm-gate prices to ensure fair compensation for their efforts.

  • Firm launches payment system to ease transactions

    Firm launches payment system to ease transactions

    Repeated challenges with everyday digital payments have inspired Lagos-based entrepreneur, Olaide Alim, to develop a new platform aimed at reducing the stress Nigerians face when paying for basic services.

    Alim, who is the founder of Snappy Technology, said the idea for SnappyPay was born out of a personal experience that exposed the inefficiencies in the country’s digital payment system.

    He recalled attempting to pay a routine bill but being debited without receiving value. The delay and lack of resolution, he said, became a turning point.

    According to him, “I realised the system in Nigeria is quite challenging. I paid for a particular bill, got charged, but nothing came through. That incident made me stop and ask why these everyday transactions are still so difficult. I felt there had to be a way to make this process seamless.”

    Read Also: Jonathan accuses Embaló of orchestrating ‘ceremonial coup’ in Guinea-Bissau

    Motivated by that experience, Alim began exploring how to design a platform that eliminates common issues such as failed transactions, delays and unreturned charges.

    This led to the development of SnappyPay, a utility-focused platform built to support routine needs such as airtime purchase, data subscription and other minor but frequent payments.

    Although several digital tools currently serve the same space, Alim believes the gaps he encountered are symptoms of a larger infrastructure problem. “There are many apps out there, but many people still struggle to get value immediately after payment. That is the gap that really concerns me,” he said.

    The platform was formally introduced during an event in Ikeja, Lagos, recently, where Snappy Technology also marked the fifth anniversary of its earlier venture, SnappyExchange.

  • FoodCo wins 2015 retail brand of the year

    FoodCo wins 2015 retail brand of the year

    For the second year running, FoodCo Nigeria, a top-three retailer and operator of the largest supermarket chain in South-West Nigeria, has been named Retail Brand of the Year at the 2025 Nigerian Business Leadership Awards (NBLA).

    Organised by BusinessDay Media Limited, Nigeria’s foremost business intelligence platform, this year’s award marks the fourth time FoodCo will be recognised as Retailer of the Year and the fifth overall honour the brand has received in the NBLA series.

    Presenting the award, Frank Aigbogun, Publisher of BusinessDay, noted that the NBLA provides a platform to celebrate dynamic enterprises that contribute meaningfully to the Nigerian economy while promoting knowledge sharing and sector-wide collaboration.

    He commended FoodCo for its leadership and innovativeness in redefining models for competitiveness and sustainability within the retail sector—despite persistent macroeconomic challenges including double-digit inflation, foreign exchange pressures, policy uncertainties, supply chain fragmentation, and chronic power constraints.

    According to him, “FoodCo’s recognition as Retail Brand of the Year is a testament to the resilient leadership that drives the economy forward. It aligns with our belief that leadership is measured not only by strong performance but also by the ability to confront challenges with integrity and a clear sense of purpose. FoodCo has turned routine operations into meaningful progress, showing that African enterprise—when built on resilience, responsibility, and relevance—can grow, inspire, and compete confidently on the global stage.”

    Read Also: Tinubu reaffirms security, unity, community resilience as core priorities

    Receiving the award on behalf of FoodCo, Ade Sun-Basorun, CEO of the company—represented by Rufus Fayeun, Head of Human Resources—expressed appreciation to BusinessDay for the recognition and dedicated the award to the FoodCo team, customers, and host communities.

    He said: “We are honoured and humbled by this recognition, especially as it affirms FoodCo’s continued commitment to the Nigerian retail community over the last four decades. Since inception, we have remained focused on delivering quality products and exceptional customer experiences by nurturing a culture of innovation and responsible growth. This award reaffirms our dedication to serving Nigerian consumers. It reflects the passion and hard work of our team and validates the trust our customers and host communities place in us. It motivates us to deepen our impact and continue investing in value creation and sustainable practices that strengthen the communities we serve.”

    NBLA winners are selected using weighted criteria including innovation, service delivery, product quality, and financial performance.

    The selection process is guided by a rigorous review conducted by BusinessDay’s Research & Intelligence Unit and the NBLA Awards Review Committee, ensuring that each recognition meets global standards of credibility and merit.

    Founded in 1982 as a single fresh fruit and vegetable store, FoodCo has grown into a vital pillar of South-West Nigeria’s economy, employing over 2,000 people and serving as a critical route-to-market for SMEs by connecting local producers and suppliers to wider consumer markets.

    With operations in retail, quick-service restaurants, manufacturing, and entertainment, FoodCo has been listed on the Financial Times annual ranking of Africa’s Fastest Growing Companies in 2022, 2023, and 2025.

  • Stanbic IBTC Pension Managers highlights innovation at ART X Lagos

    Stanbic IBTC Pension Managers highlights innovation at ART X Lagos

    As ART X Lagos celebrated its tenth year, exploring how imagination can shape the future of African cities, Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC  Holdings, stood out through its sponsorship of The Library, an installation dedicated to knowledge, continuity, and cultural insight.

    The 2025 fair, which was held in Lagos, embraced the theme ‘Imagining Otherwise, No Matter the Tide’, inviting audiences to reflect on how imagination can foster healthier, more connected urban futures. Over the years, ART X Lagos has grown into a vital platform for contemporary African expression. For Stanbic IBTC Pension Managers, the partnership aligns with its belief that creativity, knowledge, and cultural preservation are essential to building

    thriving societies. As an organisation committed to safeguarding the future of millions of Nigerians, it recognises art’s power to document history, inspire new thinking, and strengthen community bonds.

    This year, the organisation expanded its contribution through The Library, an interactive installation designed as a space for quiet reflection and shared discovery. Inspired by the resilience of Nigeria’s mangrove ecosystems, The Library symbolises continuity, renewal,

    Read Also: Jonathan accuses Embaló of orchestrating ‘ceremonial coup’ in Guinea-Bissau

    and the value of collective knowledge. Visitors explored curated books and visual materials from the Guest Artists Space (G.A.S.) Foundation art library; selections from the ART X curator’s research archive; ART X Cinema programming; and an exhibition of works by the iconic Nigerian artist Bruce Onobrakpeya. The installation offered a contemplative counterpoint to the fair’s vibrant energy, inviting audiences to consider how ideas and stories shape the world around them.

    At the event, Olumide Oyetan, Chief Executive of Stanbic IBTC Pension Managers, highlighted how the theme reflects Nigeria’s resilience, a resilience mirrored in the ingenuity and determination of communities nationwide. He noted that imagination is central not only to artistic expression but also to long-term planning, resilience, and financial confidence, enabling us to envision possibilities beyond the present and build sustainable futures rooted in shared purpose.

    He described The Library as a space for reflection, learning, inspiration, and a drive for tomorrow. Olumide emphasised the importance of nurturing young minds, encouraging them to appreciate art, and inspiring them to imagine a promising future.

    He also expressed appreciation for the creativity and innovation of African artists, noting that showcasing this rich cultural heritage reflects a belief in every individual’s potential to foster positive change.

    He concluded by encouraging everyone to celebrate their culture and the promise of what lies ahead.

    The event also featured the signature Kids Tour, welcoming 60 students from Lisabi Grammar School, Abeokuta; Mile High International School, Ikotun; and Roy Dek Academy, Makoko, Yaba, Lagos. The tour introduced participants to contemporary art, providing insights into various media and techniques while sparking curiosity and fostering early appreciation for visual arts.

    Since ART X Lagos’ debut in 2016, Stanbic IBTC Pension Managers’ involvement has grown from a simple contribution to a purposeful collaboration focused on nurturing artistic expression and amplifying African perspectives globally. In addition to The Library, the organisation hosted a private VIP experience for select high-net-worth clients, offering an intimate view of standout artworks and space for thoughtful conversation about legacy,

    creativity, and the evolving landscape of African art.

    Through these initiatives, ART X Lagos and Stanbic IBTC Pension Managers strengthened connections between art, education, and community engagement. As the fair enters a new decade, Stanbic IBTC Pension Managers remains a steadfast supporter of artists, curators, and cultural advocates enriching Nigeria’s creative landscape, and looks forward to expanding its cultural initiatives while championing imagination, knowledge preservation, and community resilience in the years ahead.

  • Blue economy, green resolve: Lagos charts Africa’s coastal future

    Blue economy, green resolve: Lagos charts Africa’s coastal future

    • By Babajide Fadoju

    The 11th Lagos International Climate Change Summit held recently at the Lagos Continental Hotel, drew delegates from across Africa and beyond.

    Goodwill messages from the Dutch government, Chinese embassy, UK High Commission, and German Consulate opened proceedings, signalling the global stakes in what the city plans to do with its 187 kilometres of coastline.

    These opening salutes were not mere formalities; they signalled a readiness among international partners to back Lagos’s bid to transform its marine frontier from a site of erosion and flood risk into an engine of sustainable growth.

    Tokunbo Wahab, Commissioner for the Environment and Water Resources, the man of the moment in his opening remarks, urged participants to see the ocean as a living system requiring careful management, not a resource open to unchecked extraction.

    Despite repeated floods and erosion, Lagos’s marine waters remain the artery for trade and the livelihood base for thousands of fisherfolk.

    Wahab said the summit’s task was to close the gap between climate ambition and the capital required to realise it. Concrete steps, he noted, were already in motion.

    Day one unfolded with sessions that grounded these high-level pledges in specifics.

    Representatives from Eko Atlantic City, the audacious reclamation project that has added 10 square kilometres to Lagos’s landmass, shared insights on engineering resilience at scale.

    Governor Babajide Sanwo-Olu laid out the central argument on day one. Lagos must convert its blue waters into green wealth through three linked priorities: coastal resilience, ocean innovation, and targeted financing.

    Read Also: Tinubu reaffirms security, unity, community resilience as core priorities

    He described resilience measures already under way, including the Great Wall of Lagos and the Omi Èkó Initiative for cleaner lagoon transport. Innovation, he said, would reconfigure commerce and mobility, from data-driven fisheries to low-emission ferries.

    Financing would follow, with the state positioning itself as a stable bet for investors seeking both returns and planetary security.

    Sanwo-Olu stressed that the summit served two purposes.

    First, it would strengthen adaptation measures to protect the city and the wider region.

    Second, it would create a platform where innovators, policymakers, and investors could design business models that preserve the natural balance of the ocean.

    He presented Lagos as proof that economic growth and decarbonisation can advance in tandem, and he framed the blue economy as a continental lifeline rather than a niche sector.

    Dr Dayo Mobereola, Director-General of NIMASA, spoke for the Minister for Marine and Blue Economy, Gboyega Oyetola.

    He confirmed the federal government reforms to improve maritime governance and environmental standards, with Lagos positioned as the linchpin.

    The minister pledged continued partnership with state and private actors to secure sea lanes, expand sustainable marine industries, and deliver lasting benefits to coastal communities.

    The afternoon of day one ended with the launch of the Lagos State Climate Investment Opportunities Diagnostic (CIOD).

    Produced with the International Finance Corporation and other partners, the report maps investment-ready projects across four sectors: built environment and energy, transportation, solid waste, and water and wastewater. It aligns with the Lagos Climate Action Plan and the Lagos Climate Adaptation and Resilience Plan, targeting a 25 per cent cut in greenhouse-gas emissions by 2035 against a 2020 baseline.

    The CIOD estimates a total requirement of ₦25 trillion, with 81 per cent expected from private sources. Priority projects include grid-scale renewables, rooftop solar on public buildings, light-rail and BRT expansion, waste-to-energy plants, and upgraded wastewater treatment. Enabling instruments range from green bonds and blended finance to public-private partnerships and land-value capture. Recent legislation, such as the Lagos State Electricity Law, gives the state authority over power generation and distribution, clearing a path for large renewable schemes. The report also calls for stronger regulatory frameworks, better climate data systems, and the integration of sustainability into fiscal planning.

    A session on climate finance followed, led by a KPMG expert who dissected the mechanics of mobilising capital for blue initiatives. Drawing on the firm’s global advisory work, the speaker outlined blended finance models, mixing public guarantees with private equity, to de-risk investments in ocean renewables and coastal restoration. Lagos’s regulatory reforms, such as the State Electricity Law granting local control over power markets, were praised as enablers for solar and wind scaling.

    Biodun Coker, a stock market specialist, took the floor to delve into financing’s front lines, focusing on the nascent Lagos Carbon Registry. In partnership with the Lagos State Environmental Protection Agency (LASEPA), the registry aims to verify and trade emission offsets from urban greening and marine conservation. Coker explained the operational nuts and bolts: blockchain-ledgers for transparent crediting, third-party audits to prevent greenwashing, and incentives for smallholders.

    Mr Mosopefolu George, the Commissioner for Budget and Planning also gave a keynote that was followed by a panel including Iyin Aboyeji of Future Africa, Bukola Odoe, head of Exploration and Innovation lab UNDP amongst others which was focused on unlocking private capital for Africa’s Blue Economy.

    A panel on protecting coastal ecosystems closed the first day. Dr Tunde Ajayi of the Lagos State Environmental Protection Agency, Oluwadamilola Emmanuel (Senior Special Assistant to the Governor on Blue Economy), and other speakers examined policy enforcement and community-led conservation. The Oniru of Iru Land, Oba Abdulwasiu Omogbolahan Lawal, Abisogun the second had earlier delivered a keynote on the same theme, arguing that ecosystem protection must include direct investment in local communities to ensure both conservation and prosperity.

    Lagos will be at COP30 not as supplicant, but strategist. Lagos arrives not cap in hand, but blueprint in fist. It’s a city that knows oceans give and take with equal indifference, yet dares to court them anyway. The blue economy, as Wahab and Sanwo-Olu articulated, offers a pathway where Africa’s coasts yield wealth without depletion: $406 billion continent-wide if harnessed right. Yet substance demands scrutiny. The ₦25 trillion ask looms large against naira volatility and investor hesitancy but Lagos is charting a course forward regardless.

    The Lagos energy is best felt in the goodwill message from the representative of the Osun state governor, who quipped, “We draw strength from our big brother as they surge ahead.”

  • Shobanjo urges new fellows to redefine excellence in advertising

    Shobanjo urges new fellows to redefine excellence in advertising

    • By Afolabi Idowu

    In a keynote speech that blended history, wisdom and challenge, Dr Biodun Shobanjo, widely regarded as the “Czar of Advertising” in Nigeria, urged newly-inducted Fellows of the Advertising Regulatory Council of Nigeria (ARCON) to see their recognition not as a mere badge of seniority, but as a permanent call to elevate standards, redefine excellence and protect the integrity of the industry.

    Delivering the keynote at the induction ceremony, at which 45 seasoned practitioners were formally decorated as Fellows, Dr. Shobanjo questioned the value and meaning behind professional recognition that is not anchored in purpose and substance.

    “Let’s ask ourselves—beyond the certificate, the plaque, and the medal—what exactly does it mean?” Shobanjo challenged.

    “Being a Fellow must go beyond years of service. It must be a reflection of your conduct, your contrbution, and your character.”

    Drawing parallels with the legal profession, where the Senior Advocate of Nigeria (SAN) title commands reverence due to consistent excellence and ethical distinction, Shobanjo urged ARCON and its Fellows to redefine what fellowship means in the creative economy.

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    “If the legal profession holds its SANs in such high esteem, then our own Fellowship must come to represent something equally aspirational and substantive,” he said.

    The event which held in Lagos recently, brought together top leaders of Nigeria’s marketing communications industry, regulators, and veterans to honour the 45 new Fellows — drawn from advertising, media, public relations, and brand management circles.

    The inductees, carefully selected by ARCON’s Fellowship Committee after a rigorous review process, represent a new cadre of industry custodians expected to uphold ethics, mentor younger practitioners, and contribute to the growth of Nigeria’s fast-evolving advertising ecosystem.

    ARCON’s Director-General, Dr. Olalekan Fadolapo, underscored that the Fellowship is “not ceremonial, but a symbol of responsibility and leadership.”

    He reminded the audience that the regulatory council’s mission extends beyond licensing—it is about standardising practice, enforcing ethics, and protecting the credibility of advertising in Nigeria.

    “The ARCON Act 2022 mandates us to professionalise this industry. Fellowship is one of the highest recognitions of that process—earned through excellence, integrity, and impact,” Fadolapo noted.

    The list of the newly inducted Fellows includes Oladapo Ojo, Founder/GMD, DM Holdings; Osubor Fillius, Founder/GMD, Rinet Ltd; Nwagwu Brenda, Founder/CEO, QVT Media; Felix Ehikhuemen, CEO, Landmarks O.H.M.S Ltd.; Adesanya Olutomiwa, CEO, Benevolence Treasures Ltd; Kayode Ebatamehi, GMD, Bluebird Group; Tony Udenze, CEO, Canod Ltd; Fagade Abisoye, Founder, Sodium Brand Solutions; Tade Adekunle, Principal Partner, Keskese; Tolulope Medebem, COO/Lead Consultant, AsterIML; Julius Agenmonmen, Founder/CEO, Brandlife; Akiolu Adegbola, CEO, LASAA and Dr. Arowa Oladipo, Founder/ CEO, Adgenda Media Ltd.

    Delivering his goodwill message, Lanre Adisa, President of the Association of Advertising Agencies of Nigeria (AAAN), congratulated the inductees, noting that their recognition reflects the depth of their contribution to the growth and credibility of Nigeria’s advertising industry.

    He urged the new Fellows to continue promoting creativity, professionalism and ethical standards in their respective fields, especially as the industry confronts both fresh challenges and new opportunities.

    Speaking in the same vein, Steve Babaeko, Vice-President of the International Advertising Association (IAA), Africa, described the Fellowship status as the highest professional recognition in the advertising industry — akin to the revered Senior Advocate of Nigeria (SAN) status in the legal profession.

    He congratulated the inductees and reminded them of their duty to uphold the integrity of the profession and to serve with a level of passion and mentorship that will inspire younger practitioners.

    The induction further opens up opportunities for mentorship and generational renewal — the Fellows are expected to guide younger practitioners, raise standards of ethics, creativity and professional conduct. This becomes more apparent as ARCON hints at a review of the criteria for future Fellowships.

    The message is clear: the Fellowship is not a destination but the start of a renewed contract — one between the inductees and the profession that gave them this honour.

    Dr. Shobanjo’s concluding words lingered: “Titles don’t make professionals — conduct does. This recognition must inspire you to become the conscience of advertising in Nigeria.”