The Nation Newspaper

Category: Business

  • NUPRC pledges transparent oil licence bid round

    NUPRC pledges transparent oil licence bid round

    Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has reaffirmed the commission’s resolve to deepen transparency as it prepares to launch a new licensing round on December 1. He spoke at the close of a two-day strategic workshop organised by the Commission’s Corporate Communications and Media Unit, in Lagos.

    Represented by the Deputy Director of Human Resources, Corporate Services and Administration, Efemona Bassey, Komolafe emphasised that the engagement reflects the high value the Commission places on the media, describing journalists as indispensable watchdogs and custodians of public trust. Citing Section 22 of the 1999 Constitution (as amended), he noted that the press is constitutionally mandated to hold government accountable. He added that Section 7(m) of the Petroleum Industry Act (PIA) 2021 similarly tasks the NUPRC with publishing reports and statistics on upstream operations—an obligation rooted in transparency and vital to driving industry growth.

    He explained that the missions of both the media and the Commission converge around openness, accountability and service to Nigerians. The workshop, he said, was designed to strengthen journalists’ understanding of the Commission’s regulatory work and the evolving landscape of the upstream petroleum sector. Over the two days, subject-matter experts from exploration, development, production, acreage management, economic regulation and host community relations provided detailed insights into the sector’s operations.

    Read Also: Capital gains tax to make market more competitive, says Oyedele

    Highlighting global trends, Komolafe noted that while investments in oil and gas are declining globally due to the accelerating energy transition, Nigeria continues to make steady strides. This progress, he said, is bolstered by the regulatory clarity provided by the PIA and enhanced by President Bola Ahmed Tinubu’s Executive Orders.

    According to him, Nigeria’s daily crude output has surpassed 1.7 million barrels per day multiple times in 2025, showing potential to exceed OPEC thresholds. The nation’s rig count has risen to nearly 70, with more than 40 rigs active, while billions of dollars in Final Investment Decisions have been secured. Within the past 10 months alone, the Commission has approved Field Development Plans valued at approximately $20 billion.

    Reaffirming the Commission’s commitment to achieving the national goal of adding one million barrels per day to production capacity, Komolafe said the forthcoming licensing round will be even more transparent and globally competitive than the 2024 exercise. The initiative, he added, is aimed at unlocking new frontiers, growing reserves and attracting fresh capital into the sector.

    Komolafe stressed that as regulatory reforms advance; the media’s role becomes even more crucial. Nigeria’s standing as Africa’s leading producer, he argued, depends not only on geology, policy and regulation but also on how the nation’s energy narrative is shaped. Because investor sentiment is strongly influenced by perception, he urged journalists to ensure their reporting remains factual, balanced and development-oriented.

    He encouraged reporters to place national interest at the heart of their work as Nigeria competes for global energy investment. Komolafe reiterated that the Commission is committed to transparency, noting that it consistently publishes data on its website, social media channels and in its quarterly magazine, The Upstream Gaze. These platforms, he said, will continue to be strengthened to provide broader access to accurate information.

    He echoed President Tinubu’s admonition to editors at the 21st Nigerian Guild of Editors Annual Conference: “Report boldly, but truthfully. Critique government policy with knowledge and fairness, your goal should not be to tear down, but to help build a better society.”

  • UK to deepen rural digital literacy in Nigeria

    UK to deepen rural digital literacy in Nigeria

    The United Kingdom (UK) government, through its Digital Access Programme, has partnered Blue Sapphire Hub, a civil society organisation, to deepen digital literacy and inclusion in rural communities across Northern Nigeria.

    This collaboration aims to empower underserved populations in targeted states by leveraging storytelling through digital influencers and community-driven initiatives to bridge the digital divide and unlock economic opportunities.

    During a high-level stakeholder event in Abuja, government officials, development partners, innovators, and media representatives reaffirmed their commitment to advancing digital adoption across the region.

    The discussions centred on practical strategies to ensure that technology becomes a tool for progress and equality. Stakeholders agreed to scale digital literacy programs in rural communities by deploying digital influencers who can champion safe and inclusive technology use. In addition, participants committed to supporting local innovators and startups through structured mentorship and funding opportunities, enabling them to develop solutions tailored to regional challenges.

    The event also produced policy recommendations aimed at integrating digital safety and inclusion into state-level strategies, ensuring that adoption efforts are sustainable and secure.

    Read Also: Capital market turnover hits N10tr

    Commending the initiative, the National Coordinator of the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC), Dr Mukhtar Abdu, highlighted mentorship as a critical enabler for unlocking youth potential and said: “Mentorship remains one of the most powerful tools for unlocking the potential of young people. Many youths have creativity and ambition but without guidance they struggle to navigate the digital landscape. Fasahar Zamani is a timely initiative that provides the support, safe spaces and direction they need to adopt technology confidently. With the right mentorship, our youths can innovate, grow and contribute significantly to Nigeria’s digital future.”

    Also speaking, UK’s Department for Business and Trade, Head of Trade Policy and Market Access, Mujina Kaindama, said: “This initiative demonstrates how storytelling can drive policy and inspire action. We are proud to support efforts that promote digital inclusion and create opportunities for all.”

    At the event, a 12-part short film series developed under the Accelerating Digital Adoption in Northern Nigeria initiative was also premiered. The series uses compelling narratives to showcase how technology can address real-life challenges and improve livelihoods.

    Reflecting on the significance of the project, Founder of Blue Sapphire Hub, Maryam Lawan, said: “Fasahar Zamani has sparked meaningful conversations about bridging the digital divide. The stories shared tonight reflect the resilience and creativity of Northern Nigeria and the immense potential of technology to empower communities.”

  • Capital gains tax to make market more competitive, says Oyedele

    Capital gains tax to make market more competitive, says Oyedele

    Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the new Capital Gains Tax (CGT) would make the capital market more competitive and investors’ friendly.

    Oyedele spoke during a virtual public lecture organised by the Capital Market Academics of Nigeria (CMAN) yesterday.

    According to him, contrary to some negative perceptions about the CGT, it was one of the lowest relative to Companies Income Tax (CIT) and Value Added Tax (VAT).

    He said that many countries across different regions, developed or developing, including resource rich countries tax capital gains at normal income tax rate. According to him, based on 2024 tax collection by the Federal Inland Revenue Service (FIRS), CGT accounted for less than one per cent of CIT and VAT (2014 to 2024) with CIT amounting to N26 trillion, VAT N22 trillion and CGT N276 billion.

    The chairman said that combined with the reduction of CIT from 30 per cent to 25 per cent, companies would be more profitable leading to higher valuation (expected to far exceed the incremental CGT).

    Analysing the benefits of the new tax reform policy, he said that by granting input VAT credits on assets and overheads not previously applicable, the new tax reform would lower business costs and enhance cash flows.

    Oyedele said the policy would ensure CGT exemption for retail investors, re-investment, pension funds, Real Estate Investment Trust (REITs), security lending, and re-organisation among others.

    ”The policy will ensure deduction for capital losses and other incidental costs, eliminate Withholding Tax (WHT) on bonus shares, create a level playing field for listed vs unlisted entities such as free zone tax regime.

    ”It will also ensure stamp duty exemption for all documents relating to the transfer of stocks and shares, harmonisation of earmarked taxes such as TET, NITDA levy, and NASENI, ” he said.

    The chairman said that the tax policy would help to moderate excessive fees and levies by government agencies.

    Read Also: FAAC shares N2.094tn October revenue to FG, States, LGAs

    Chairman, Nigerian Exchange Group (NGX), Dr Umaru Kwairanga, said that CGT was not a new concept in the capital market.

    He said that there were perceptions that the new tax act would increase the rate of CGT to a level that would have a negative impact on most investors.

    According to him, perception matters a lot in financial markets and can move markets long before any real action takes place.

    ”We have seen that in the recent volatility in our market. It is therefore very important to manage information very well so that it does not lead to wrong or flawed perceptions that can have very real effects on markets and the economy, ” Kwairanga said.

    President, Chartered Institute of Taxation of Nigeria (CITN), Innocent Ohagwu, said the CGT would not negatively impact the capital market rather, it would profit the market.

    According to him, a lot of work has gone into the reform.

    He urged stakeholders to support the reform policy by allowing it to operate before the criticisms.

    Prof. Sheriffdeen Tella, an economist, raised concerns on the tax imposed on private bonds by the new tax policy.

    Tella said the move would make investors to subscribe more to government bonds.

    Former Chairman of FIRS, Muhammad Nami called for more stakeholders’ engagement to address problems facing investment decisions in the country.

    According to him, analysing the policy in local languages would help citizens to understand it better with a view to making informed decisions.

    .

  • FAAC shares N2.09tr to Fed Govt, states, councils

    FAAC shares N2.09tr to Fed Govt, states, councils

    A total of N2.094 trillion from the October 2025 Federation Account revenue has been shared among the Federal Government, the 36 states and the 774 local government councils.

    The allocation was confirmed at the November 2025 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja.

    According to the FAAC communiqué, the N2.094 trillion distributable revenue consisted of N1.376 trillion statutory revenue, N670.303 billion Value Added Tax (VAT) revenue, and N47.870 billion from the Electronic Money Transfer Levy (EMTL).

    FAAC reported that gross revenue for October stood at N2.934 trillion. From this amount, N115.278 billion was deducted as cost of collection, while N724.603 billion went to transfers, interventions, refunds and savings.

    The communiqué stated that gross statutory revenue amounted to N2.164 trillion, an increase of N36.832 billion compared to the N2.128 trillion recorded in September 2025.

    However, VAT inflow for October was N719.827 billion, lower than the N872.630 billion recorded in September by N152.803 billion.

    Read Also: Fed Govt urges indigenous firms to leverage ‘Nigeria First’ policy for economic growth

    The Federal Government received a total of N758.405 billion, the state governments received N689.120 billion, and the local government councils got N505.803 billion, while the sum of N141.359 billion, representing 13 per cent of mineral revenue, was allocated to the oil-producing states as derivation revenue.

    For the N1.376 trillion statutory revenue, the Federal Government received N650.680 billion, state governments received N330.033 billion, and local government councils received N254.442 billion, with N141.359 billion set aside for derivation to the benefiting states.

    From the N670.303 billion VAT revenue, the Federal Government received N100.545 billion, the state governments received N335.152 billion, and N234.606 billion went to the local government councils.

    A total of N7.180 billion from the N47.870 billion EMTL revenue was allocated to the Federal Government, while N23.935 billion and N16.755 billion were given to the state governments and local government councils respectively.

    FAAC noted that in October 2025, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT) and Companies Income Tax (CIT) on upstream activities, as well as Companies Income Tax (general), Capital Gains Tax (CGT), Stamp Duty Tax (SDT), oil and gas royalty, import duty, excise duty and Common External Tariff (CET) levies all recorded increases. In contrast, revenue from Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL) and fees declined during the month.

    The communiqué stated that the distribution reflects ongoing adjustments in government revenue inflows and the performance of major sectors contributing to the Federation Account.

  • Capital market turnover hits N10tr

    Capital market turnover hits N10tr

    • Foreign surplus rises on strong inflows

    Turnover at the Nigerian stock market has risen to a record high of N10 trillion, following foreign and domestic investors’ continued stake in the nation’s macroeconomic outlook and earnings potential of quoted companies.

    Trading data released yesterday by the Nigerian Exchange (NGX) indicated that total transactions at the Exchange have doubled this year to reach an all-time high of N9.57 trillion within the first 10 months of trading. This represented an increase of 114.1 per cent over N4.47 trillion recorded in the comparable period of 2024.

    The report, which detailed transactions by domestic and foreign portfolio investors, showed that activities at the Nigerian market were substantially driven by rising foreign transactions, with foreign investors now accounting for more than one-fifth of activities at the market.

    Foreign portfolio investors (FPIs) account for 21.2 per cent of total transactions as against 16.7 per cent in the comparable period of previous year.

    Total foreign transactions have nearly tripled this year, totalling N2.03 trillion by October 2025; 172.45 per cent above N744.3 billion recorded in the corresponding period of 2024.

    A breakdown of foreign transactions showed a stronger preference for the Nigerian market, with a higher retention ratio as FPIs were buying more than they were selling in the traditional two-way market system. 

    Total FPI inflows stood at N1.118 trillion by October 2025, representing an increase of 225 per cent above N344 billion recorded by October 2024. FPI outflows doubled by 127.3 per cent from N400 billion in 2024 to N909.6 billion in 2025.

    Compared to the trading situation in 2024, when the country had an FPI deficit of N56 billion, FPI surplus stood at N209 billion in 2025, underlining the comparatively higher inflows against outflows.

    Read Also: FAAC shares N2.094tn October revenue to FG, States, LGAs

    Total transactions by domestic investors during the 10 months increased to N7.54 trillion in 2025 as against N3.73 trillion recorded in 2024. The increase was due to an upsurge in activities by retail and institutional investors.

    “Institutional investors’ turnover jumped to N4.6 trillion compared with N1.8 trillion in the corresponding period of 2024. Retail investors’ transactions rose to N2.9 trillion in 2025 from N1.9 trillion in 2024.

    NGX noted that domestic transactions have grown by 33.15 per cent over the last 18 years, from N3.56 trillion in 2007 to N4.74 trillion in 2024. Foreign transactions increased by 38.31 per cent over the same period, rising from N616 billion to N852 billion.

    Experts have attributed the all-time scramble for Nigerian investments to the improvement in the country’s macroeconomic outlook.

    The NGX attributed the bullish trading at the market to broad economic reforms and improving investor sentiment.

    According to NGX, the rally at the market coincides with a broader policy reset that has redefined Nigeria’s economic outlook, as measures such as the liberalisation of the naira, the removal of fuel subsidies, and closer coordination between fiscal and monetary authorities have begun to restore a degree of macroeconomic stability, even as inflation remains elevated.

    Group Managing Director (GMD), Nigerian Exchange Group (NGX Group) Plc, Mr Temi Popoola, said much of the market’s resilience could be traced to a “wave of coordinated reforms” that have rebuilt confidence in the country’s financial architecture.

    He said: “The strength we’ve seen in the market has been driven largely by reforms, from the President’s economic agenda to decisive actions by the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), PENCOM, and other regulators.  These efforts have created the right foundation for investor confidence and renewed market activity”.

    Popoola, who spoke during a panel discussion on “Nigeria’s Economic Journey: Crisis, Recovery, and Risk” at the Financial Times Africa Summit 2025 in London, underscored the market’s underscored renewed investor confidence and the resilience of Nigeria’s capital markets amid a shifting macroeconomic environment.

    Director General, Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said the signing of the Investments and Securities Act 2025 by President Bola Tinubu was a turning point for governance and regulatory transparency in the market.

    He said: “The new law was crafted to reflate the economy by providing clarity, certainty, and discipline in our markets,” Agama said. “Robust regulation has been central to restoring market integrity and investor trust, providing the transparency required to anchor long-term capital formation in Nigeria”.

    Managing Director, Highcap Securities Limited, David Adonri, said the rise in retail activity is a positive indicator for market resilience.

    He said: “The growth in retail participation at a time when institutional and foreign investors are slowing down shows that local investors are becoming more confident and more informed. It reflects the impact of technology, easier access and sustained market education. Retail investors are gradually becoming a stabilising force in our market”.

  • Fed Govt urges indigenous firms to leverage ‘Nigeria First’ policy for economic growth

    Fed Govt urges indigenous firms to leverage ‘Nigeria First’ policy for economic growth

    The Federal Government has called on indigenous companies to take full advantage of the Nigeria First Policy, a strategic initiative aimed at strengthening local content, boosting domestic production, and reducing dependence on imported goods and services.

    Secretary to the Government of the Federation (SGF), Senator George Akume, made the appeal in Abuja when the Managing Director and Founder of Solewant Group, Mr. Solomon Ewanehi, paid him a courtesy visit.

    According to a statement by the Director of Information and Public Relations in the Office of the SGF, Segun Imohiosen, Akume said the Tinubu administration remained committed to creating a business-friendly environment that supports Nigerian enterprises and enhances national competitiveness.

    The Nigeria First Policy, he noted, is already yielding positive results by encouraging local capacity, innovation, and industrial growth.

    He urged indigenous companies across sectors to seize emerging opportunities under the policy, stressing that increased reliance on Nigerian-made products and services would help build a more resilient economy.

    Read Also: Wike to SSDC: don’t disappoint Tinubu, focus on grassroot development

    The SGF commended Solewant Group for its bold investments in the oil and gas value chain, particularly in steel pipes, metal fabrication and specialised coating solutions.

    He said the company’s move to tap into divestment openings created by departing International Oil Companies (IOCs) aligns with the Federal Government’s drive to strengthen indigenous participation in the energy sector.

    Ewanehi disclosed that Solewant Group had expanded its operations into the production of steel pipes, coating materials and coated products for Nigeria and other African markets.

    He said the company was also supporting the Federal Government’s directive to the Petroleum Technology Association of Nigeria (PETAN) and industry stakeholders to increase the country’s crude oil output.

    Ewanehi further informed the SGF of plans to host the 9th Africa Energy Summit slated for November 27–28, 2025, in Port Harcourt.

    The summit, he said, will bring together experts and players in the sector to explore ways of boosting crude oil productivity and advancing Africa’s competitiveness in the global energy space.

  • PINL kicks-off business support scheme for 2000 host community women

    PINL kicks-off business support scheme for 2000 host community women

    Pipeline Infrastructure Nigeria Limited (PINL) has kicked off the process to empower 2000 women from communities along the Eastern Corridor of the Trans Niger Pipeline (TNP).

    This is in line with the Firm’s Corperate Social Responsibility(CSR), policies to its host communities.

    The women were drawn from the 215 host communities on the TNP covering Rivers, Bayelsa, Abia and Imo States are to be given business support to boost their small scale businesses.

    The initiative is under the PINL Women Employment and Empowerment Scheme is being carried out in partnership with Premium Trust Bank.

    The General Manager, Community Relations and Stakeholdsrs Engagement of PINL, Dr. Akpos Mezeh, who spoke during the data capturing exercise for Rivers, Abia and Imo beneficiaries; held in Port Harcourt yesteray, said the initiative is aimed at appreciating the women for their support in combating pipeline vandalism in their communities.

    He explained that four women from each of the 215 communities would benefit from the business support initiative including mentorship to sustain their businesses, adding that it would run alongside the skills training programme and scholarship for youths.

    “Today is a day set aside by the company to say thank you to the women. The women play a critical role in the fight against pipeline vandalism because our operations are intelligence driven. The women have supported us in different ways by providing viable information with which we use to wage this war against crude theft.

    “The women are from the host communities where we have our operations. From every community we are giving business support grants to four women totaling 215 communities. This is to complement the scholarship program and the skill acquisition program that is going on simultaneously,” Mezeh added.

    The PINL official said the grant which will be paid directly into the bank accounts of the beneficiaries will be an annual CSR with professionals already engaged to strictly monitor the progress of beneficiaries including giving them financial literacy training.

    Some of the beneficiaries who spoke to the media at the verification/screening exercise expressed hope in the project, and lauded PINL for taking issues of CSR to its host communuties seriously.

    Speaking, Francisca Nkechi Okanma from Okohia in Abia State expressed hope that the empowerment would help them in boosting their businesses and assisting their families.

    “We have submitted our BVN, account number. Last month we were here for NIN. We came back for verification to be sure that the details we submitted are ours. So we have submitted everything and we’re waiting for them to empower us so that we can make use of the money and help our husbands to train our children, ” she said.

    Also speaking, Bridget Nnadiwe from Mmabele Autonomous Community Ahead East, Rivers State, said if the money is given to her, she would rent a shop to expand her trade.

    “If they give me the money, I’ll leave my kiosk and rent a shop and buy more goods,” she said.

  • NPC rebrands micro-pension scheme

    NPC rebrands micro-pension scheme

    The Nigerian Pension Commission (NPC) said it has commenced rebranding of the existing micro-pension plan for informal sector workers as the Personal Pension Plan (PPP).

    The PPP, according to the Commission, would take care of millions of Nigerians in the informal sector.

     It said 12 states were yet to implement the Contributory Pension Scheme, adding that seven states were at various stages of establishing pension bureaus.

    Director General of the Nigerian Pension Commission, Ms. Omolola Oloworaran spoke in Benin City at the Second Run 2025 Consultative Forum for States and the FCT.

    Oloworaran commended President Bola Tinubu for approving ₦758bn bond through the Federal Executive Council to settle legacy pension liabilities such as accrued rights, pension increases and minimum pension guarantee.

    Represented by the Commissioner Inspectorate of the Commission, Samuel Uwandu, Oloworaran said pension assets now topped ₦26trn.

    She noted that successes of Nigeria’s pension system relied on the extent to which the sub-national governments embraced the full implementation of the CPS/CDBS.

    READ ALSO; Emir of Ilorin condemns Eruku Church attack

    The NPC boss commended states that have made significant progress by enacting pension laws and commencing contribution remittances for their workers.

    According to her, “Our mission as an industry is not complete. The success of this national reform rests on its implementation in every State, Local Government, and across the Informal Sector. This Forum is the engine of that collaboration.

    “This November marks one year since I assumed office as Director General of the National Pension Commission. It has been a year of deliberate reform, focused on strengthening governance and expanding the value of the pension system for all Nigerians.

    “The timely payment of Accrued Pension Rights. The planned re-introduction of Gratuity Payments for Federal Civil Servants under the CPS. Introduction of a new Pension Contribution Remittance System (PCRS) to eliminate errors and delays in pension remittances” among others.

    Governor Monday Okpebholo, who was represented by Secretary to State Government (SSG), Musa Ikhilor, said his administration was expecting a report of the pension scheme in the state and pledged to abide by its recommendations.

    He said his administration released N3 billion out of the N5bn owed to staff of the state owned College of Education who were disengaged when the school was handed over to the federal government.

  • Closeup launches ‘talking stage party’ to boost young Nigerians’ relationships

    Closeup launches ‘talking stage party’ to boost young Nigerians’ relationships

    Closeup has launched a new initiative aimed at helping young Nigerians move beyond the casual “talking stage” and build more meaningful romantic connections.

    The Closeup Talking Stage Party, a first-of-its-kind social experience, debuted in Owerri, Imo State, bringing together 25 couples for an evening designed to inspire confidence, spark genuine conversations, and create real bonds.

    The event comes at a time when modern relationships often begin and end behind screens, with digital interactions replacing face-to-face connections.

    Recognising this shift, Closeup, Nigeria’s leading toothpaste brand, created the initiative to encourage young adults between 18 and 30 to step out of online limbo and into authentic moments.

    The Owerri edition featured interactive games, music, laughter, and guided activities that encouraged participants to loosen up, communicate freely, and enjoy each other’s company in a relaxed atmosphere.

    READ ALSO; Emir of Ilorin condemns Eruku Church attack

    Speaking about the campaign, Twumasi Elvis, Marketing Manager for Closeup, said the brand hopes to play a role in the real-life love stories of young Nigerians.

    “In a generation that is more digitally connected than ever yet still craving something real, Closeup sought to be a bridge, inspiring confidence, closeness, and authentic connection.

    Our goal is to be part of the love stories of young Nigerians, helping them move past the awkwardness of the ‘talking stage’ into genuine moments of togetherness. Kicking off in Owerri was the perfect start; we can’t wait to take this to other cities,” he said.

    With the Closeup Talking Stage Party, the brand reinforces its positioning as a champion of confidence and connection, supporting Nigerian youths as they express themselves boldly and build relationships with fresh smiles and renewed assurance.

  • ‘Tinubu’s policies have strengthened macroeconomic’

    ‘Tinubu’s policies have strengthened macroeconomic’

    President Bola Tinubu’s policies have strengthened macroeconomic indicators, boosted investors’ confidence, and attracted foreign direct investment, a support group has said.

    Speaking at a press conference in Abuja, Director-General of Forward With Bola Ahmed Tinubu 2027, Comrade Peter Ilefa, noted that the administration’s tax reforms, expected to take full effect by 2026, will eliminate multiple taxation, exempt low-income earners from paying taxes, and remove tax burdens from businesses earning between N50 million and N100 million annually.

    He said these reforms will encourage micro, small, and medium enterprises (MSMEs) growth, boost local enterprises, expand job opportunities, and increase internally generated revenue.

    He argued that the Nigerian economy was recovering strongly, with key sectors such as agriculture, banking, finance, and housing “breathing healthily,” while education and health are undergoing aggressive reforms.

    “Nigeria is smiling into greatness. Nigerians are embracing reality and are hopeful for full economic rejuvenation. There is more hope among Nigerians today as we collectively evolve into a great nation under God,” he added.

    READ ALSO; Emir of Ilorin condemns Eruku Church attack

    Ilefa noted that Tinubu’s achievements, particularly infrastructural development across the country and the Federal Capital Territory, have put the president in a good position for re-election.

    “The Lagos-Calabar Coastal Road and the Sokoto–Badagry Superhighway are just a tip of the iceberg among numerous legacy projects across the country,” he said.

    Ilefa said Nigeria had faced multifaceted institutional challenges—from insecurity to economic and sociopolitical crises—but President Tinubu recognised that the nation’s problems were foundational and therefore adopted a bottom-up approach to solving them.

    He highlighted the removal of the fuel subsidy on Tinubu’s first day in office as a decisive action that stopped revenue leakages and increased funds available to the government.

    “That masterstroke decision blocked a major conduit pipe used by oil cartels to siphon government resources. State allocations have tripled, giving states more resources to fund development projects,” he said.

    He added that the President restored financial autonomy to local governments, increased workers’ minimum wage, and introduced student loans through the Nigerian Education Loan Fund (NELFUND)—a move he said has relieved parents and given hope to Nigerian youth.