The Nation Newspaper

Category: Business

NUPRC advocates effective ADR to boost investor confidence

To boost investor confidence and unlock billions of dollars in potential investments trapped in prolonged litigation, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged stakeholders to use its Alternative Dispute Resolution Centre (ADRC).

The commission reaffirmed its commitment to entrenching fairness, transparency, and collabentrenchingthe country’s upstream sector through the institutionalisation ADR mechanisms.

NUPRC’s Chief Executive, Gbenga Komolafe, declared this at a high-level Roundtable Consultative and Sensitisation Forum organised in Lagos by the commission’s ADR centre.

Represented by the commission’s Secretary and Legal Adviser, Olayemi Adeboyejo, Komolafe said ADRC also aimed at ensuring sustainable relationships between operators and host communities.

According to Komolafe, the ADRC was established as a specialised, neutral platform for resolving disputes in the upstream sector, adding that key milestones have been achieved since inception.

Some of the milestones, Komolafe listed included the inauguration of the ADRC Body of Neutrals in Lagos and Yenagoa in September 2024, and a comprehensive capacity-building programme earlier this year.

Komolafe said by offering mediation, the centre would ensure timely, impartial, and cost-effective resolution consistent with international best practices, nothing that the ADRC’s board comprised seasoned lawyers, retired judges, and technical experts versed in ADR and oil industry operations.

Read Also: NUPRC commences 2025 licensing round December 1

“The ADRC is more than a mechanism for resolving disputes. It is a strategic tool for promoting peace, stability, and investor confidence across the upstream petroleum value chain.”

“Through the ADRC, we are operationalising the Petroleum Industry Act’s (PIA) intent ensuring that disputes are resolved amicably and efficiently, preserving relationships that are essential to operational stability, investment protection, and social harmony.

“We are determined to make ADRC not a last resort, but the first choice for dispute resolution in Nigeria’s oil and gas sector,” said Komolafe.

He added that the commission’s proactive promotion of alternative dispute resolution has been particularly instrumental in mitigating tensions between operators and host communities, adding that the centre offered a sustainable pathway for peaceful coexistence in the petroleum industry.

He said: “Dispute prevention and early engagement are key to building trust. By encouraging operators, host communities, and other stakeholders to embrace ADR mechanisms early, we are fostering a culture of mutual respect, accountability, and collaboration.”

He encouraged stakeholders in the oil and gas ecosystem to view the ADRC as a strategic ally in corporate governance and risk management, not as a regulatory instrument.

“The sustainability and effectiveness of the ADRC depend on collaboration. Regulators, operators, host communities, and civil society must continue to work together to build trust, prevent disputes, and maintain a stable operating environment,” he added.

Komolafe reiterated the NUPRC’s unwavering commitment to building an industry where dialogue replaces discord and cooperation replaces confrontation.

“The ADRC symbolises our belief that disagreements can be transformed into opportunities for understanding. It is a cornerstone of our broader reform agenda anchored on transparency, fairness, and shared prosperity. Through this centre, we are not only resolving disputes, but also reinforcing the confidence of investors and the trust of host communities in the Nigerian petroleum industry,” he re-echoed.

In her welcome remark as Secretary of the Commission, Adeboyejo said ADRC was necessary in today’s global and domestic landscape, noting that Nigeria cannot afford to have billions of dollars in potential investment trapped in prolonged litigation.

She said prolonged litigation was a major impediment to the oil sector’s growth, noting that some disputes take up to a decade to reach final judgment.

“In Nigeria, when people say ‘let the court decide,’ they often mean ‘see you in ten years’. That’s not justice delayed; that’s capital detained.”

“The ADRC was therefore conceived as a strategic de-bottlenecking mechanism; an efficient, confidential, and cost-effective alternative to litigation.”

The sensitisation forum drew participants from International Oil Companies (IOCs), independent producers, PETAN, Host Community Development Trusts (HCDTs), and other industry players, providing a platform for open dialogue on the centre’s processes, functions, and adoption pathways.

Citing global data, she said mediation resolves 80–90 percent of referred disputes within days or weeks.

Adeboyejo outlined three principles guaranteeing the centre’s neutrality: an independent body of neutrals, joint appointment and payment of mediators by disputing parties, and confidentiality of proceedings.

“What happens in mediation stays in mediation. No journalist will get a scoop from your mediation room,” she assured.

During an interview with reporters, the Vice Chairman, Petroleum Technology Association of Nigeria (PETAN), Obi Uzu, described the initiative as a vital step toward resolving long-standing contractual and payment disputes.

However, he called for a clear legal framework compelling industry recognition of the platform in standard contracts.

“If ADR isn’t referenced in contracts, resolutions can’t be enforced. Legal backing is key to building trust and making the system work,” he stressed.

The Chief Executive, Dispute Solutions Hub, Adeyemi Akinsanya, said mediation represents the future of dispute resolution in the oil and gas industry.

“Most courts are congested, and cases can take 20 to 30 years. Mediation offers a quick, efficient, and practical way to preserve business relationships,” he said

November 13, 2025
How Currency Instability Shapes Online Trading Habits in Nigeria
What if someone told you that the real catalyst behind Nigeria’s booming online trading scene isn’t flashy financial influencers or global tech hype. It’s the naira. Or more precisely, its unpredictable journey through cycles of devaluation, instability, and inflation.
When local currency becomes a moving target, ordinary Nigerians don’t wait for official solutions. They build their own. One of those solutions is trading forex. Not as a get-rich-quick scheme, but as a hedge. A tool. A digital lifeline against erosion of value. The habits forming in Nigeria’s trading ecosystem aren’t just financial trends. They are survival strategies dressed up in the language of market speculation.
Why Naira Instability Isn’t Just a Macro Problem
Currency instability isn’t abstract in Nigeria. It shows up when prices for basic goods jump within days. It’s reflected in the widening gap between official exchange rates and what’s actually available in parallel markets. The average consumer sees this not in economic charts, but on supermarket shelves, at fuel stations, and in import duties that seem to grow overnight.
For digitally savvy Nigerians, online trading becomes more than just a speculative adventure. It becomes a form of self-preservation. When inflation eats into purchasing power and local assets depreciate faster than they grow, the foreign exchange market offers something domestic markets often can’t: liquidity, optionality, and (if timed right) access to stronger currencies.
The Role of Platforms and Why Infrastructure Matters
But access to global markets means little without quality platforms that can execute, scale, and protect. Nigerians aren’t just flocking to any trading app. They’re hunting for reliability, transparency, and platforms with international credibility.
A growing trend across Africa has seen traders compare interfaces, regulation, withdrawal efficiency, and fees. And in this platform-conscious environment, lessons from other countries matter. Take South Africa, for instance. The Exness trading platform for South Africa has set a benchmark in functionality, real-time execution, and regulated access to global currency pairs.
Similarly, CFD trading in South Africa has matured thanks to an infrastructure that prioritizes risk controls, charting tools, and localized support. Nigerian traders, many of whom share forums and Telegram channels with South African peers, observe and adapt.
These cross-border comparisons aren’t academic. They shape real choices. If a platform glitches during a spike in USD demand, a Nigerian trader might lose not just profits, but faith in the system. That’s why quality platforms aren’t optional; they’re foundational.
Hedging Isn’t Theory But Daily Life
There’s a belief that hedging strategies are for portfolio managers in glass towers. That belief doesn’t hold in Nigeria. For many self-taught traders in Lagos or Abuja, buying USD/NGN or EUR/USD isn’t just about chasing green candles. It’s about protecting school fees, medical funds, or even savings meant for property abroad.
One example tells the story better than any theory. A Lagos-based importer once shared how he began allocating a portion of his monthly business income to online forex trading. Not because he wanted to become a trader, but because buying and holding USD in a brokerage wallet was faster and more discreet than dealing with black market dealers or local banks. Over time, he learned to time his entries around central bank policy announcements and developed enough skill to not just hedge, but sometimes earn. He wasn’t chasing volatility; he was escaping depreciation.
Timing as a Habit, Not a Hope
In stable economies, timing trades might be seen as a luxury or a tool for marginal gains. In Nigeria, timing is oxygen. Central bank decisions, oil price swings, and political headlines are all baked into trading strategies. Nigerian traders don’t wait for volatility. They anticipate it. And that anticipation becomes habit.

Read Also: NIPSS is Nigeria’s intellectual power house, says First Lady

This level of reflex isn’t about being aggressive. It’s about being alert. Traders build routines around market sessions, check news wires religiously, and often trade in short bursts rather than long swings. They’re not waiting for the perfect trade. They’re managing risk in real-time, aware that value isn’t something you hold but something you defend.
Key behaviors that have emerged as part of this rhythm include:
- Trading during high-volume periods like the London or New York sessions, when currency pairs move with greater momentum
- Using tight stop losses not just to prevent loss, but to avoid platform downtime or price slippage during regional power outages or data issues
This focus on micro-timing reveals a deeper insight: for Nigerians, trading isn’t about forecasts. It’s about positioning.
The Emotional Economy of Devaluation
Currency instability is both a financial and emotional stressor. Watching earnings lose value month after month shapes psychology. It builds skepticism about long-term naira savings and raises urgency around alternative strategies. This emotional response is crucial to understanding why Nigerians don’t approach trading with passive curiosity. They approach it with intensity.
Platforms that understand this psychological backdrop are more likely to succeed. Traders want education, yes – but they also want respect for their context. Tutorials that start with “What is forex?” feel like a mismatch. The Nigerian audience isn’t naïve. They’re informed by necessity. Any platform or tool that fails to meet that level of urgency is quickly replaced.
Lessons from Nigeria’s Digital Trading Playbook
There are lessons here that extend beyond Nigeria. When a population turns to online trading en masse, not for speculation, but for preservation, it signals something deeper. It signals that traditional economic instruments have failed to provide the security people need.
Ultimately, the evolution of Nigeria’s trading habits reflects not just economic conditions, but a cultural adaptation. One shaped by volatility, but powered by resilience.
November 12, 2025
Senate urges Edun to address investor fears over new capital gains tax

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has been urged to take swift action to address investor concerns surrounding the new provision in the Nigerian Tax Act 2025, which raises the Capital Gains Tax (CGT) on share sales worth N150 million and above from 10 percent to 30 percent from January 2026.

Chairman of the Senate Committee on Capital Market and Institutions, Senator Osita Izunaso, made the appeal on Wednesday while presenting a paper titled: “Redefining the Rules: The Investment and Securities Act 2025 and the Future of Nigeria’s Capital Market” at the Moneyline with Nancy Investment Forum 2025 in Abuja.

Izunaso said the sudden adjustment in the tax regime has unsettled investors, leading to a wave of panic-driven share disposals that wiped out more than N2 trillion in market value within a week.

“The increase in Capital Gains Tax on share sales above N150 million has created understandable concern among investors. In anticipation of this change, we have observed significant disposals by major investors, leading to a notable decline in market capitalization,” he said.

The Senator warned that while taxation remains a critical tool for government revenue, fiscal measures must be carefully designed to avoid eroding investor confidence or discouraging long-term capital formation. He called for a balance between revenue mobilization and the need to maintain a stable and attractive investment climate.

According to him: “The government must ensure that fiscal adjustments do not discourage the very investors who provide liquidity, jobs, and stability in the financial system. What we need is predictability, consultation, and gradual implementation to sustain growth in the capital market.”

Izunaso commended President Bola Ahmed Tinubu for the renewed vibrancy in Nigeria’s capital market since 2023, attributing the progress to reforms that have stabilized the macroeconomic environment and improved policy coherence.

He said: “The Nigerian economy is at a pivotal juncture where structural reforms, fiscal discipline, and investment-friendly policies are redefining our financial and capital market architecture.”

The Senator described the Investment and Securities Act 2025 as a transformative law that strengthens investor protection, expands regulatory oversight, and deepens market participation from both local and foreign investors. He expressed optimism that the new legislation will help build a more resilient and transparent financial market capable of mobilizing long-term capital for development.

Delivering the keynote address at the same event, Akwa Ibom Governor, Pastor Umo Eno, said Nigeria stands at a defining moment in its economic history as it implements a series of reforms that will reshape the nation’s financial and productive sectors.

Read Also: Turkiye pledges to deepen ties, trade with Nigeria at 102nd Independence Anniversary

The Governor, who was represented by the Commissioner of Information, Aniekan Umanah, commended the Federal Government’s fiscal and structural reforms, including the Investment and Securities Act 2025, the Insurance Industry Reform Act 2025, the new Tax Laws, and the deregulation of the electricity market, describing them as bold decisions capable of transforming the economy.

According to Eno, liberalising the power sector will introduce competition, improve efficiency, and expand energy access nationwide. He said the reform will empower states and private players to play stronger roles in energy generation and distribution.

“In Akwa Ibom, we have already begun laying the groundwork to take ownership of our power sector—so we can generate, transmit, and distribute electricity within the state. Such deeper unbundling will allow subnational governments to serve their people better, attract private capital, and accelerate industrialization,” he said.

The Governor explained that Akwa Ibom is positioning itself as a model of decentralized energy management, one that leverages private investment to boost power supply and support local industries. He added that this aligns with President Tinubu’s broader vision of building a productive, self-sustaining economy driven by innovation and enterprise.

November 12, 2025
FG targets stronger fiscal base, expands health investment as Pate, Edun, Bagudu outline reforms

Nigeria’s health sector is on a steady path of recovery, with measurable progress in maternal and newborn survival, vaccination coverage, and health service utilization, the Federal Government has said.

This came as it unveiled plans to raise ₦150 billion for vaccine procurement in 2025 and 2026 as part of efforts to strengthen routine immunization and epidemic preparedness, introduce sustainable financing measures such as health-focused taxes on sugar-sweetened beverages, expand public-private partnerships, and deploy digital tools to enhance transparency and accountability.

In addition, through a World Bank-supported ward-level mapping initiative, the government aims to ensure that all 8,809 wards across Nigeria’s 774 local governments have coordinated health plans aligned with state and national development priorities, while it is also set to unveil the 2026–2050 National Development Plan currently being designed.

This emerged on Wednesday in Abuja at the 2025 Joint Annual Health Sector Review (JAR), themed ‘All Hands, All Mission’, where Coordinating Minister of Health and Social Welfare, Prof. Ali Pate, highlighted the government’s commitment to better health outcomes through creative initiatives in the last two and a half years.

READ ALSO; FG pays N18bn insurance to boost troops’ welfare

Noting that the JAR underscores the shared responsibility of all stakeholders, government, private sector, development partners, and citizens, Pate said 84 percent of key health reform indicators are on track under President Bola Tinubu’s leadership, with 35 States conducting annual reviews and citizens monitoring outcomes.

“All 36 States and the FCT now have operational plans aligned with national priorities,” he said, adding that 72 percent of states have mechanisms for managing non-communicable diseases.

Pate reported a 17 percent decline in maternal deaths and a 12 percent reduction in newborn deaths across 172 high-burden Local Governments, while over 15,000 new health workers have been recruited, 435 primary healthcare facilities revitalized, and access to skilled birth attendants increased by 33 percent.

Visits to primary health facilities funded through the Basic Health Care Provision Fund rose from 10 million in early 2024 to 45 million by mid-2025, he said, adding that routine immunisation coverage for measles, yellow fever, and HPV improved, while family planning uptake grew by 10 percent.

Citizen trust is rising, with 55 percent of Nigerians now expressing confidence in government health reforms, and patient satisfaction standing at 74 percent, he noted.

Pate acknowledged ongoing challenges in affordability and insurance coverage, currently at 12 percent, but said efforts are underway to expand coverage and enhance accountability.

“In the past year, over 20,000 frontline workers have been recruited in federal tertiary hospitals. The President has also approved over ₦50 billion to clear outstanding allowances and address workforce challenges that have persisted for years,” he said.

The Coordinating Minister of the Economy and Finance, Wale Edun, said the 2025 Federal health budget rose nearly 60 percent, with the BHCPF increasing from ₦131.5 billion in 2024 to almost ₦299 billion in 2026, and health’s share of the national budget rising to 5.2 percent from just over 3 percent.

“The turnaround in the economy has begun. Distortions are being removed, the economy is stabilizing, and social sectors like health are benefiting significantly,” he stressed, urging States and Local Governments to channel more of their increased revenues into health and education.

Minister of Budget and Economic Planning, Sen. Atiku Bagudu, described Nigeria’s low revenue-to-GDP ratio, below 8 percent since 2007 as a key growth constraint.

“The President has unfolded a vision for Nigeria to build an economy comparable in size and productivity to others around the world within the next five years. We are focusing on mobilising revenue and investing strategically to fund our development aspirations, including the 2026–2050 National Development Plan currently being designed,” he said.

Bagudu emphasised that mapping 8,809 wards nationwide ensures coordinated plans feeding into state and national priorities, while states and local councils must invest more in health, education, and agriculture to guarantee inclusive growth.

Minister of State for Health and Social Welfare, Dr. Adekunle Salako, said the Renewed Hope Agenda is transforming Nigeria’s health sector, with infrastructure, workforce, and system reforms underway.

“The Renewed Hope Agenda is not just a promise, it is a covenant to safeguard the health of our people,” he stated, disclosing over 500 new high-impact projects, 13 tertiary health institutions, six cancer centres of excellence, and 21 strategic policies driving health system reforms.

Primary Healthcare revitalisation and digital health initiatives are connecting thousands of facilities, improving access and accountability, Salako added, noting that NHSRII implementation could save ₦4.8 trillion annually from preventable diseases and retain ₦850 billion currently lost to medical tourism.

He urged State governments to increase counterpart funding for the BHCPF, expand insurance coverage, and strengthen primary healthcare delivery, while calling on development partners and private investors to align with national priorities.

The highlight of the three-day event was the expansion and endorsement of the Health Sector Renewal Compact by Local Governments, traditional rulers, private sector leaders, and civil society groups, first signed in 2023 by the Federal Government, States, and international development partners.

November 12, 2025
NUPRC advocates effective ADR to boost investor confidence, unlock trapped capital

To boost investor confidence and unlock billions of dollars in potential investments trapped in prolonged litigation, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged stakeholders to use its Alternative Dispute Resolution Centre (ADRC).

The commission reaffirmed its commitment to entrenching fairness, transparency, and collaboration in the country’s upstream sector through the institutionalisation of ADR mechanisms.

NUPRC’s Chief Executive, Gbenga Komolafe, declared this at a high-level Roundtable Consultative and Sensitisation Forum organised in Lagos by the commission’s ADR centre.

Represented by the commission’s Secretary and Legal Adviser, Olayemi Adeboyejo, Komolafe said ADRC also aimed at ensuring sustainable relationships between operators and host communities.

According to Komolafe, the ADRC was established as a specialised, neutral platform for resolving disputes in the upstream sector, adding that key milestones have been achieved since inception.

Some of the milestones Komolafe listed included the inauguration of the ADRC Body of Neutrals in Lagos and Yenagoa in September 2024, and a comprehensive capacity-building programme earlier this year.

READ ALSO; FG pays N18bn insurance to boost troops’ welfare

Komolafe said by offering mediation, the centre would ensure timely, impartial, and cost-effective resolution consistent with international best practices, noting that the ADRC’s board comprised seasoned lawyers, retired judges, and technical experts versed in ADR and oil industry operations.

“The ADRC is more than a mechanism for resolving disputes. It is a strategic tool for promoting peace, stability, and investor confidence across the upstream petroleum value chain.

“Through the ADRC, we are operationalising the Petroleum Industry Act’s (PIA) intent, ensuring that disputes are resolved amicably and efficiently, preserving relationships that are essential to operational stability, investment protection, and social harmony.

“We are determined to make ADRC not a last resort, but the first choice for dispute resolution in Nigeria’s oil and gas sector,” said Komolafe.

He added that the commission’s proactive promotion of alternative dispute resolution has been particularly instrumental in mitigating tensions between operators and host communities, adding that the centre offered a sustainable pathway for peaceful coexistence in the petroleum industry.

He said, “Dispute prevention and early engagement are key to building trust. By encouraging operators, host communities, and other stakeholders to embrace ADR mechanisms early, we are fostering a culture of mutual respect, accountability, and collaboration.”

He encouraged stakeholders in the oil and gas ecosystem to view the ADRC as a strategic ally in corporate governance and risk management, not as a regulatory instrument.

“The sustainability and effectiveness of the ADRC depend on collaboration. Regulators, operators, host communities, and civil society must continue to work together to build trust, prevent disputes, and maintain a stable operating environment,” he added.

Komolafe reiterated the NUPRC’s unwavering commitment to building an industry where dialogue replaces discord and cooperation replaces confrontation.

“The ADRC symbolises our belief that disagreements can be transformed into opportunities for understanding. It is a cornerstone of our broader reform agenda anchored on transparency, fairness, and shared prosperity. Through this centre, we are not only resolving disputes, but also reinforcing the confidence of investors and the trust of host communities in the Nigerian petroleum industry,” he re-echoed.

In her welcome remark as Secretary of the Commission, Adeboyejo said ADRC was necessary in today’s global and domestic landscape, noting that Nigeria cannot afford to have billions of dollars in potential investment trapped in prolonged litigation.

She said prolonged litigation was a major impediment to the oil sector’s growth, noting that some disputes take up to a decade to reach final judgment.

“In Nigeria, when people say ‘let the court decide,’ they often mean ‘see you in ten years’. That’s not justice delayed; that’s capital detained.”

“The ADRC was therefore conceived as a strategic de-bottlenecking mechanism; an efficient, confidential, and cost-effective alternative to litigation.”

The sensitisation forum drew participants from International Oil Companies (IOCs), independent producers, PETAN, Host Community Development Trusts (HCDTs), and other industry players, providing a platform for open dialogue on the centre’s processes, functions, and adoption pathways.

Citing global data, she said mediation resolves 80–90 percent of referred disputes within days or weeks.

Adeboyejo outlined three principles guaranteeing the centre’s neutrality: an independent body of neutrals, joint appointment and payment of mediators by disputing parties, and confidentiality of proceedings.

“What happens in mediation stays in mediation. No journalist will get a scoop from your meditation room,” she assured.

During an interview with reporters, the Vice Chairman of Petroleum Technology Association of Nigeria (PETAN), Obi Uzu, described the initiative as a vital step toward resolving long-standing contractual and payment disputes.

However, he called for a clear legal framework compelling industry recognition of the platform in standard contracts.

“If ADR isn’t referenced in contracts, resolutions can’t be enforced. Legal backing is key to building trust and making the system work,” he stressed.

The Chief Executive, Dispute Solutions Hub, Adeyemi Akinsanya, said mediation represents the future of dispute resolution in the oil and gas industry.

“Most courts are congested, and cases can take 20 to 30 years. Mediation offers a quick, efficient, and practical way to preserve business relationships,” he said.

November 12, 2025
FG, firm sign concession pact for 6MW Ikere Gorge hydropower project

The federal government and the Quaint Energy on Tuesday signed a concession agreement for the development of the 6MW Ikere Gorge Hydropower Project in Oyo State.

The concession is for 30 years.

Speaking at the ceremony, the Minister of Power, Chief Adebayo Adelabu, said the negotiation of the project took over 10 years.

He described the event as a milestone toward achieving a sustainable, reliable, and affordable power supply across the country.

His words, “It gives me great pleasure to be here today to witness the signing of the concession agreement between the Federal Ministry of Power and Quaint Energy for the development of the 6MW Ikere Gorge Hydropower Project in Oyo State and the 2MW Omi-Kampe Hydropower Project in Kogi State.

READ ALSO; FG pays N18bn insurance to boost troops’ welfare

“This event marks another important milestone in our collective journey toward achieving a sustainable, reliable, and affordable power supply across Nigeria.”

The ceremony was also for the signing of another concession agreement with for Omikampe project, which was postponed to allow the parties fine tune the contract documents.

Adelabu said the Ikere Gorge Dam project and Omi-Kampe Dam Projects are more than hydropower concessions; it is a strategic intervention that underscores the Federal Government’s resolve to advance energy access, stimulate state electricity markets, and enhance local industrial productivity through clean and renewable energy sources.

According to him, once fully developed, the hydropower plants have huge potential to scale further reliable electricity to surrounding communities, support agricultural processing zones, small industries, and social infrastructure, and catalyse rural economic transformation within Oyo and Kogi States, respectively.

He also said the signing reaffirms the Ministry’s strong belief in private sector-led growth as the foundation for achieving sustainability in the Nigerian Electricity Supply Industry.

The minister said the government’s role is increasingly that of an enabler by creating the right regulatory environment, ensuring policy consistency, and de-risking investments through credible partnerships and transparent processes.

According to him, through public–private partnerships like this concession, the government is unlocking capital, technology, and innovation from the private sector to deliver projects that directly impact citizens and strengthen energy security.

Responding, the Quaint Energy chairman, Mr. Femi Adeyanju, vowed not to disappoint in the delivery of the project in line with the timeline.

He said the concession will be beneficial to the state and the area of the location.

The chairman also vowed to prove that Quaint Energy is competent enough to handle the project.

November 12, 2025
MAN urges NAFDAC to reconsider ban on sachet alcohol

…warns of economic fallout

The Manufacturers Association of Nigeria (MAN) has called on the National Agency for Food and Drug Administration and Control (NAFDAC) to rescind the recent directive banning the production and sale of alcoholic beverages in sachets and small PET bottles by December 31, 2025.

This directive, which followed a resolution reportedly passed by the Senate on Thursday, November 6, was described by MAN as counterproductive and inconsistent with earlier stakeholder agreements.

According to a statement by Segun Ajayi-Kadir, Director-General of MAN, the decision runs contrary to the consensus reached among all stakeholders, including NAFDAC itself, during the validation of the National Alcohol Policy in October 2025.

He said the Senate’s resolution was made without proper consultation or public hearings with key industry players, unlike the process adopted by the House of Representatives.

Ajayi-Kadir explained that the validated policy had recommended multi-sectoral action plans, tighter enforcement, the establishment of licensed liquor outlets, stronger monitoring by regulatory agencies, and national enlightenment campaigns on responsible alcohol consumption, not an outright ban.

READ ALSO; FG pays N18bn insurance to boost troops’ welfare

He also debunked claims that sachet alcohol promotes underage drinking, noting that independent studies commissioned by the government found no empirical evidence to support such claims. He added that the industry had invested over ₦1 billion in public awareness campaigns to discourage alcohol abuse among minors.

The MAN chief warned that enforcing the ban could lead to massive economic disruption, including the loss of ₦1.9 trillion in investments, over 500,000 direct jobs, and approximately five million indirect jobs in marketing, logistics, and supply chains.

Ajayi-Kadir further argued that sachet packaging allows low-income adult consumers to afford regulated alcoholic beverages in smaller, safer quantities, a measure that could actually reduce excessive consumption.

He cautioned that the ban could fuel the spread of illicit, unregulated alcohol, as demand would shift to underground markets, increasing health and safety risks.

He added that the measure might also open Nigeria’s market to smuggled foreign brands, hurting local manufacturers and depriving the government of valuable tax revenue.

MAN therefore urged the Senate to withdraw its directive and allow the implementation of the validated National Alcohol Policy, emphasising that effective regulation and public education — not prohibition — remain the most sustainable solutions.

“MAN supports measures that remove unsafe products from the market,” Ajayi-Kadir said. “However, such decisions must be driven by evidence, not emotion. Abrupt regulatory shifts can jeopardise jobs, livelihoods, and national economic stability.”

He reaffirmed MAN’s commitment to ensuring compliance with all safety standards and promoting responsible alcohol consumption across the country.

November 12, 2025
FARMATAGO launches food safety and production sustainability initiative

Farmatago AgroVentures Limited has officially launched the Food Safety and Production Sustainability (FSPS) Initiative, an impact movement aimed at promoting food safety, sustainable production, post-harvest loss reduction, nutritional safe consumption and long-term agricultural sustainability system across the value chain.

According to the Founder of FARMATAGO, Annat Shittu. Agriculture remains one of the strongest frontiers for national and continental development. Over the years, she has consistently contributed to strengthening agrifood systems within her organisation and in broader ecosystems. The FSPS Initiative and its campaign activities marks yet another strategic step toward amplifying this impact.

READ ALSO; FG pays N18bn insurance to boost troops’ welfare

Unveiled in commemoration of World Food Day 2025, the FSPS Initiative featured a three-day campaign called the FSPS Campaign delivered in partnership with HortiNigeria program, designed to spark a grassroots movement that empowers women, youth, farmers, and market actors to build safer and more sustainable agri-food systems.

Day One- Farmers Training Day; focused on training farmers with practical knowledge and tools to reduce post-harvest losses through safe and sustainable practices.

Day Two – Market Campaig Day; featured market engagements where traders were sensitised on hygiene, produce handling, and post-harvest management to ensure consumers’ access to safe and nutritious food.

Day Three – FSPS Summit; A day that convened farmers, agribusiness players, development partners, and ecosystem enablers to discuss technology adoption, market access, and policy actions for resilient food systems.

Farmatago AgroVentures Limited is an agribusiness company strengthening the agri-food supply chain through market access for farmers, value-added processing, tech-driven innovations, and initiatives that promote food safety and reduce post-harvest losses.

November 12, 2025
Oyetola lauds dockworkers’ role in maritime growth

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has lauded the invaluable contributions of Nigerian dockworkers to the nation’s maritime growth, pledging the Federal Government’s commitment to improving their welfare and ensuring safer working conditions across the ports.

Oyetola made the pledge in Lagos during the 2025 Day of the Dockworker celebration, organised by the Nigerian Maritime Administration and Safety Agency (NIMASA) in collaboration with the Nigerian Ports Authority (NPA) and the Nigerian Shippers’ Council (NSC).

Themed “Safe Port, Safe Ship,” the event highlighted the importance of dockworkers to the sustainability of port operations and Nigeria’s expanding blue economy.

Represented by the Director-General of NIMASA, Dr. Dayo Mobereola, Oyetola described dockworkers as the backbone of the maritime industry whose efforts power the nation’s trade and economic activities.

According to him, “Today reminds us that our dockworkers are vital to creating a maritime industry where safety is assured and productivity increases. As dockworkers, you are the first link in the trade chain that fuels our economy and turns the potential of the blue economy into real national growth.”

The minister disclosed that the Federal Government, through NIMASA, has initiated several safety and capacity-building programmes, including the provision of modern protective equipment for dockworkers and riverine transport operators, enhanced safety training, and improved emergency response mechanisms.

“Through NIMASA, we are enhancing safety training, improving emergency response capabilities, and enhancing professional development schemes,” he added.

In his remarks, the President General of the Maritime Workers Union of Nigeria (MWUN), Comrade Francis Bunu, applauded the Ministry of Marine and Blue Economy and its agencies for their continuous commitment to dockworkers’ welfare.

He said, “It is a great honour to join all dockworkers in celebrating the 3rd edition of Dockworkers Day 2025. On behalf of the Maritime Workers Union of Nigeria (MWUN), I sincerely thank NIMASA, terminal operators, stevedores, and all maritime stakeholders for hosting this event and recognising the vital role of dockworkers in sustaining our nation’s maritime industry.”

Bunu further commended Oyetola for his “remarkable efforts in revitalising Nigeria’s maritime sector” and also appreciated the Minister of Labour and Employment for his “steadfast commitment to the welfare and protection of Nigerian workers.”

Delivering a goodwill message on behalf of the Minister of Labour and Employment, Alhaji Muhammadu Dingyadi, the Director of Productivity, Measurement and Labour Standards, Mr. Emmanuel Igbinosun, urged stakeholders to maintain a safe work environment and ensure fair remuneration for dockworkers in line with international labour standards.

“All stakeholders must remain committed to the ideals of a safe work environment and appropriate remuneration for dockworkers in line with the International Labour Organisation (ILO) standards,” he stated.

Representatives from the Nigerian Ports Authority, Nigerian Shippers’ Council, Nigerian Association of Stevedoring Operators (NASO), and the Seaport Terminal Operators Association of Nigeria (STOAN) also pledged continued collaboration towards ensuring safer and fairer working conditions for dockworkers.

Organised annually by NIMASA in collaboration with NPA and NSC, Dockworkers’ Day is an event dedicated to recognising the vital role of dockworkers in port operations and promoting awareness of their safety, rights, and welfare within Nigeria’s maritime industry.

November 12, 2025
Why effective port state control critical to global maritime safety, by NIMASA

The Nigerian Maritime Administration and Safety Agency (NIMASA) has reiterated that effective Port State Control (PSC) remains one of the strongest mechanisms for ensuring global maritime safety, eliminating substandard vessels, and maintaining environmental protection standards across international waters.

NIMASA’s Director-General, Dayo Mobereola, stated this in Lagos at a five-day Regional Train-the-Trainer Workshop on Port State Control for Member States of the Abuja Memorandum of Understanding (MoU), supported by the International Maritime Organisation (IMO).

Mobereola, who was represented by the agency’s Executive Director, Operations, Engr. Fatai Taiye Adeyemi emphasised that the success of Port State Control depends largely on the quality and professionalism of those who implement it.

He said, “Effective Port State Control is one of the most potent tools for ensuring global safety and maintaining environmental standards in shipping.

“Your presence here demonstrates our collective resolve to strengthen efficient maritime governance, improve safety standards, and enhance environmental protection across West and Central Africa.”

The NIMASA boss noted that the workshop reflects Africa’s shared commitment to safer, cleaner, and more efficient shipping, commending the IMO, Abuja MoU Secretariat, and other technical partners for their continued support in building capacity and promoting regional cooperation.

Delivering a goodwill message, Captain Ahmed Sewelam, the representative of the International Maritime Organisation (IMO), reaffirmed the organisation’s strong commitment to supporting member states through its technical cooperation programmes to strengthen effective and harmonised Port State Control regimes globally.

“Effective regional cooperation and harmonised PSC practices are essential to eliminate substandard shipping and promote consistency across the region,” he said.

He explained that the workshop provides an opportunity for delegates to enhance their collective capacity as Port States, with discussions covering inspection procedures, reporting, and performance improvement strategies.

“Together, we can strengthen Port State Control implementation and advance maritime safety and sustainability in the region,” he added.

Also speaking, the Secretary-General of the Abuja MoU, Captain Sunday Umoren, reiterated that capacity building remains a top priority of the organisation, noting that effective Flag State control directly influences the quality of Port State Control operations.

“We must continue to build capacity, strengthen cooperation, and share experiences to ensure that our region maintains high standards of maritime safety and compliance,” Umoren stated.

The five-day workshop, which brought together delegates from 22 countries across West and Central Africa, seeks to deepen regional capacity, harmonise inspection procedures, and improve compliance with international maritime conventions under the Abuja MoU framework.

The initiative represents another milestone in NIMASA’s ongoing efforts to strengthen maritime safety, promote environmental protection, and consolidate the country’s leadership role in advancing regional maritime development.

November 12, 2025