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  • ‘$1b Chinese deal significant for Nigeria’s sugar development’

    ‘$1b Chinese deal significant for Nigeria’s sugar development’

    Executive Secretary and Chief Executive Officer, National Sugar Development Council (NSDC), Mr. Kamar Bakrin, in this panel interview with Group Business Editor, SIMEON EBULU and other select journalists, speaks on strategic initiatives to develop the Nigerian sugar industry.

    The National Sugar Development Council recently launched the Sugarcane Outgrower Development Programme (SODP) with the objective of attracting and integrating more sugarcane farmers into the industry. How has stakeholders response been so far, and what progress can you report on the programme to date?

    The response has been overwhelmingly positive—and, more importantly, highly practical. What we are seeing is not just casual interest, but a clear willingness by potential participants to engage meaningfully with the programme. That, for us, is a strong signal that the SODP is addressing real needs within the industry.

    What makes the SODP truly different is that it introduces, for the first time, a clear and structured national framework that deliberately integrates farmers—whether large agribusinesses, cooperatives, or individual smallholders—into Nigeria’s sugar value chain in a coordinated and sustainable manner. The underlying philosophy is simple but powerful: farmers should not be left to produce sugarcane in isolation, without market certainty or support.

     Under the SODP, participating farmers are directly linked to licensed sugar processors through guaranteed offtake arrangements. They also receive access to quality seedcane, essential inputs, and hands-on technical support through training and extension services. This integrated approach significantly reduces risk for farmers, boosts productivity, and builds confidence across the value chain—for both producers and processors. 

    What is particularly encouraging is that the programme is already gaining real traction. Through our engagement and expression-of-interest processes, we have recorded strong uptake, especially in communities located close to existing sugar estates where integration can be achieved quickly and efficiently.

    While this is not a programme that delivers results overnight, we have moved decisively beyond the policy and planning stage. The SODP is now firmly in its implementation phase, laying down the critical building blocks for a sustainable, scalable increase in domestic sugarcane supply. This is exactly the kind of structural intervention the industry needs—and the early signals are very promising.

    In 2025, the NSDC signed a landmark $1 billion investment agreement with the Chinese conglomerate SINOMACH. Could you outline how Nigeria’s sugar industry is expected to benefit from this partnership, and what tangible outcomes have been recorded so far?

    The partnership with SINOMACH represents a real inflection point for Nigeria’s sugar industry. In both scale and ambition, it stands out as one of the most significant agro-industrial investments Nigeria has recorded in recent years.

    What makes this agreement particularly potent is not just the headline $1 billion investment, but the structure underpinning it. The partnership combines engineering, procurement, construction, and development financing within a single, coordinated framework. For a capital-intensive and technically complex industry like sugar, this level of integration is a game-changer. It enables projects to move more swiftly from concept to execution while significantly reducing delivery and financing risks.

    From a practical standpoint, the outcomes are substantial. The partnership will unlock the capacity to produce up to 500,000 metric tonns of sugar annually, bring approximately 75,000 hectares under sugarcane cultivation, and add about 50,000 tonns-per-day in factory processing capacity. These are not abstract projections—they represent tangible, productive assets being built directly into Nigeria’s sugar ecosystem.

     Beyond the numbers, the broader impact is truly transformative. The SINOMACH partnership strengthens domestic sugar production, reduces Nigeria’s reliance on imports, conserves valuable foreign exchange, and catalyses large-scale job creation across farming, processing, logistics, and allied services. Most importantly, it firmly positions Nigeria on a credible and sustainable path toward long-term self-sufficiency in sugar production.

     The ambitions outlined under these initiatives are significant. How does NSDC intend to deliver on these objectives within the proposed timeframe? Could you walk us through the implementation approach and any progress achieved to date?

    That is a very fair question—and one we anticipated from the outset. Ambitions of this scale are not delivered through shortcuts or wishful thinking; they require discipline, clear sequencing, and rigorous execution.

    From day one, NSDC has been deliberate about getting the fundamentals right before accelerating delivery. We established a structured coordination framework with SINOMACH, underpinned by continuous technical engagement and detailed information exchange. Critical project data, including proposed locations and site-specific information, have already been shared, enabling feasibility studies and technical planning to proceed in a focused and practical manner rather than in the abstract.

    In parallel, NSDC has taken proactive ownership of the issues that most often delay large-scale agro-industrial projects—land access, regulatory approvals, and community engagement. These are typically the realbottlenecks, and addressing them early is essential to maintaining momentum and protecting project timelines.

    While the implementation approach is phased, it is very much in motion. The groundwork has been laid, stakeholder alignment has been achieved, and the necessary institutional coordination is firmly in place. This positions NSDC strongly to transition decisively from preparation to execution and to deliver on these objectives within the proposed timeframe.

    NSDC has identified greenfield sugar projects as a key strategy for closing Nigeria’s domestic sugar production gap. This informed the recent signing of Memoranda of Understanding (MoU) with four greenfield promoters. What should Nigerians expect from each of these projects?

     Greenfield sugar projects are not just a component of our strategy—they are absolutely central to closing Nigeria’s domestic sugar production gap. The MoU recently signed with the four promoters were far from symbolic; they represent concrete commitments from credible investors with both the technical capacity and financial strength to deliver at scale.

    Each of these greenfield projects is designed as a fully integrated sugar operation, combining extensive sugarcane cultivation with modern, efficient processing facilities. Once they reach full operation, the four projects collectively are projected to add approximately 400,000 metric tonns of sugar to Nigeria’s annual output—a significant boost to domestic supply.

     Equally important is the deliberate geographic spread of these investments across the southwest, north-central, and northeast regions of the country, being areas where sugarcane can be grown at commercially viable scale. This approach allows Nigeria to harness its diverse agro-climatic advantages while ensuring that the economic benefits—employment opportunities, infrastructure development, and local enterprise growth—are shared across multiple regions.

    These are investments anchored in host communities, built to operate sustainably, and structured to deliver lasting value to both the sugar industry and the wider economy.

    GNAL Sugar, owned by the Lee Group, has also been identified as a greenfield project, with plans to invest in Taraba State. Can you provide an update on the status of this project?

    GNAL Sugar is progressing steadily as a greenfield project, with Taraba State emerging as a strong and highly viable location for the investment. We recently undertook a joint visit to the state with the Lee Group, and the level of engagement and commitment demonstrated by the Taraba State government has been both encouraging and reassuring.

    The project has now moved well beyond the stage of initial interest. Multiple local government areas have been identified as suitable for large-scale sugarcane cultivation and processing, and active work is underway on land access, site selection, and overall project definition. This phase is critical, as it brings together technical, environmental, and social assessments to ensure the project is anchored on a solid and sustainable foundation.

    Our approach is intentionally measured and disciplined. Rather than rushing to make headline announcements, we are focused on resolving all key prerequisites early. This ensures that when the project transitions into the construction and development phase, it does so with clear parameters, strong community alignment, and the long-term viability required for an investment of this scale.

    What singled out Taraba State as destination for this project?

    Taraba State was selected after a rigorous and competitive assessment process that evaluated multiple potential locations across the country. From a technical perspective, Taraba consistently stood out. The state offers extensive land availability, dependable water resources, and favourable agro-climatic conditions that are well suited to high-yield, large-scale sugarcane cultivation.

    However, site selection goes far beyond natural endowments. Equally decisive was the level of commitment demonstrated by the state government. Large sugar projects are long-term investments that thrive on strong collaboration between investors, host communities, and government institutions. In this regard, Taraba clearly showed the political will, institutional alignment, and readiness to provide an enabling environment for sustained development.

    When strong technical fundamentals are combined with clear government support and community engagement, the result is a location capable of supporting a project not just at start-up, but over decades. Based on our assessments, Taraba has the potential to evolve into a major sugar production hub, playing a strategic role in strengthening Nigeria’s domestic sugar industry.

     One recurring concern around greenfield sugar development is the availability of critical inputs, particularly quality planting materials. How is NSDC addressing this issue ?

    That’s an important concern, because the availability of quality planting material is one of the most critical success factors in sugarcane production—and it is often where greenfield projects run into difficulties if the issue is not addressed early.

    To tackle this, NSDC has adopted a deliberate, multi-layered approach. First, we have established dedicated seedcane farms specifically designed to support greenfield sugar projects. These farms are meant to close the existing gap in quality planting materials by creating a reliable local supply of seedcane, reducing dependence on imports, and allowing planting material production to scale in a controlled and sustainable manner as new estates come on stream.

    In parallel, through the Nigeria Sugar Institute (NSI), we are deploying modern planting technologies, particularly pre-sprouted bud set—or bud chip—technology. This represents a major shift from traditional whole-cane planting methods. Bud chip technology enables us to multiply planting materials far more efficiently, using smaller quantities of cane to produce a significantly larger number of healthy, disease-free seedlings. It can cut between 12 – 18 months out of project development cycle.

    NSI is already building capacity for large-scale bud chip propagation and integrating this technology into its research, training, and extension programmes. The impact is substantial: faster estate establishment, lower planting costs, improved field uniformity, and stronger quality control.

    Taken together, the combination of dedicated seedcanefarms and advanced bud set technology provides a resilient, scalable system for supplying planting materials. This is a critical foundation for the successful rollout of greenfield sugar projects across the country and a key enabler of long-term growth in the sector.

    On the NSIN, there have been varying public perceptions regarding its status and ownership. Can you clarify the status of the Institute and NSDC’s role in its establishment?

    The Nigeria Sugar Institute (NSI) is a purpose-built national institution established to serve as the research, training, and technical backbone of Nigeria’s sugar industry. It was incorporated in June 2019 and formally commissioned in January 2021, and it operates under the strategic oversight of the NSDC.

    NSI is headquartered in Ilorin, with specialised bio-factory and tissue culture facilities. These laboratories play a critical role in varietal development, seed cane multiplication, and applied research, supporting both the sugar and ethanol value chains. In practical terms, the Institute exists to ensure that the industry has consistent access to quality planting materials, skilled manpower, and credible technical expertise.

    The Institute was deliberately structured as a shared, industry-wide platform developed by NSDC in collaboration with key stakeholders. Its purpose is to consolidate research and development in a single national centre of excellence and to ensure that critical outputs—such as improved seedcane, training programmes, and technical services—are accessible to all industry operators, not just a select few.

    Today, industry players are actively utilising NSI’s services for seedcane supply, capacity building, and technical support. As the Institute continues to scale its operations and demonstrate its value, discussions around broader industry participation and long-term support will naturally evolve. What is clear, however, is that NSI is functioning exactly as intended: as a national centre of excellence strengthening the growth, resilience, and competitiveness of Nigeria’s sugar industry.

    Can you speak to your accomplishments in the last two years as the Executive Secretary of NSDC ?

    A great deal has changed at the NSI over the past two years, and it has been by design rather than by chance. From the outset, our goal was clear: to reposition NSI from a largely dormant facility into a fully functional, industry-facing centrefor research, training, and technical support.

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    We began with the fundamentals—institutional structure and operating model. Today, NSI operates within a clearly defined governance and management framework aligned with global best practices. With the support of KPMG, we strengthened governance systems, clarified roles, and ensured a proper balance between strategic oversight, policy direction, and day-to-day execution.

    This reform provided the Institute with much-needed stability, clarity, and operational discipline.

    With governance in place, our next priority was people. Infrastructure alone does not deliver impact; human capacity does. Over the last two years, more than 60 NSI staff have undergone targeted capacity-building programmes spanning both managerial and technical competencies. On the managerial side, staff were trained in project management, stakeholder engagement, negotiation, conflict resolution, strategic communication, and professional reporting—skills that are essential for coordinating complex, multi-stakeholder industry programmes.

    On the technical front, staff received advanced, hands-on training in laboratory instrumentation, solution preparation, soil analysis, and equipment maintenance. These are highly practical skills that directly enhance NSI’s ability to run its biofactory operations, support sugar estates, and deliver credible research, diagnostics, and advisory services to industry operators.

    In parallel, we deliberately repositioned NSI as a national hub for training and knowledge transfer. Through the NSDC/NSI Boot Camp initiative, the Institute began delivering structured, hands-on training programmes covering sugar processing, refining, quality control, industrial safety, and environmental compliance. These programmes are intentionally practical, blending classroom instruction with real-world demonstrations so participants leave with skills they can immediately apply in their operations.

    Significant investments were also made in curriculum development and standard operating procedures. The Factory Operations Department developed a comprehensive, end-to-end curriculum covering the full sugar production cycle—from cane preparation and juice extraction to crystallisation, refining, and by-product utilisation—with a strong emphasis on safety and sustainability. At the same time, the Biofactoryupgraded its SOPs for sugarcane and other crops, introducing detailed protocols for explant sterilisation, culture media formulation, and acclimatisationtechnologies.

    Crucially, these reforms were not kept in-house. NSI translated its strengthened capacity into direct industry support. The Institute jointly facilitated technical training for staff of Sunti Golden Sugar Estate, focusing on soil science, laboratory safety, sampling techniques, and equipment use. It also designed and delivered a comprehensive field-to-factory training programme for 20 new hires at BUA Foods’ LASUCO operations, ensuring they understood sugar production as a fully integrated system rather than a set of isolated activities.

    So, when we speak about progress at the Nigeria Sugar Institute, we are talking about a systematic rebuilding of institutional capacity—strengthening governance, upgrading skills, formalising training, and reconnecting the Institute directly with industry needs. These reforms are already laying a strong foundation for NSI to fulfil its mandate as a credible national centre of excellence, supporting Nigeria’s long-term drive towards self-sufficiency and competitiveness in sugar production.

  • NFIU hails Nigeria’s FATF, EU delisting as boost to financial system

    NFIU hails Nigeria’s FATF, EU delisting as boost to financial system

    The Nigerian Financial Intelligence Unit (NFIU) has described Nigeria’s removal from the Financial Action Task Force (FATF) Grey List and the European Union’s intention to delist the country from its high-risk third countries register as a major boost to confidence in the nation’s financial system.

    The agency also commended government institutions, the private sector and civil society organisations for their roles in recording these achievements.

    In a statement issued on Sunday in Abuja, the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, said the decisions by the FATF and the European Union demonstrated the credibility and depth of Nigeria’s reforms in the fight against illicit finance, noting that the progress reflected a coordinated effort across government and society.

    “Nigeria’s exit from the FATF Grey List and the European Union’s high-risk third country list reflects the strength of our collective resolve and the effectiveness of sustained, coordinated reforms. This milestone underscores our commitment to upholding global standards on anti-money laundering, counter-terrorism financing and counter-proliferation financing, while reinforcing international confidence in Nigeria’s financial system,” Ms. Bakari said.

    She attributed the achievement to what she described as a “whole-of-government and whole-of-society approach” to building stronger safeguards against financial crimes, extending appreciation to Ministries, Departments and Agencies, the Legislature, the Judiciary, the private sector and non-profit organisations whose joint actions contributed to the outcome.

    Ms. Bakari said the success was guided by the leadership of President Bola Ahmed Tinubu, noting that his administration’s commitment to building a safe and prosperous Nigeria provided the political backing needed to sustain reforms across key sectors.

    According to the NFIU, strategic oversight was delivered through the Inter-Ministerial Committee on AML/CFT/CPF, led by the Attorney-General of the Federation and Minister of Justice, alongside the Minister of Finance and Coordinating Minister for the Economy, the Minister of Interior and the Minister of State for Finance. The committee, the statement said, ensured policy coherence and maintained momentum throughout the reform process.

    The NFIU also credited the Ministers of Aviation, Budget and Economic Planning, Defence, Industry, Trade and Investment, and Solid Minerals Development for supporting regulatory measures that strengthened compliance frameworks across priority areas of the economy.

    National security coordination was strengthened under the leadership of the National Security Adviser, particularly in addressing terrorism and terrorism financing through closer collaboration among security agencies. The statement noted that these efforts improved information sharing and risk management related to financial flows linked to security threats.

    Financial sector oversight was reinforced by regulators including the Central Bank of Nigeria, the Securities and Exchange Commission, the National Insurance Commission and the Special Control Unit Against Money Laundering of the Economic and Financial Crimes Commission. Their work, the NFIU said, focused on improving risk-based supervision, tightening market entry controls, enhancing suspicious transaction reporting and applying targeted financial sanctions.

    On corporate transparency, the NFIU pointed to the role of the Corporate Affairs Commission, the Nigeria Export Processing Zones Authority and the Oil and Gas Free Zones Authority in deploying systems aligned with international best practice to improve access to beneficial ownership information and strengthen regulatory monitoring.

    Law enforcement agencies, including the Nigeria Police Force, the Economic and Financial Crimes Commission, the Independent Corrupt Practices and Other Related Offences Commission, the Department of State Services, the Defence Intelligence Agency, the National Drug Law Enforcement Agency and the Code of Conduct Bureau, were acknowledged for strengthening investigations and prosecutions of high-risk predicate offences.

    At the nation’s borders and ports of entry, the Nigeria Customs Service, the Nigeria Immigration Service, the Federal Airports Authority of Nigeria and the Nigeria Civil Aviation Authority were recognised for their role in detecting cross-border cash smuggling and the illicit movement of high-value goods, with prosecutorial support from the EFCC.

    The statement also referenced efforts within the non-profit sector, where safeguards were strengthened through the work of SCUML and its domestic and international partners to reduce vulnerabilities to terrorist abuse.

    Further stressing the importance of sustained collaboration, Ms. Bakari said, “The successful delisting of Nigeria from the FATF Grey List and the EU AML/CFT list is a clear signal that our reforms are deep, credible and sustainable. It reflects years of disciplined implementation across government, law enforcement, the judiciary and the private sector.”

    She noted that the Federal Ministry of Justice played a key role in securing convictions, facilitating mutual legal assistance and enabling the recovery and repatriation of illicit assets, while the Federal High Court was commended for timely adjudication and the application of proportionate sanctions to deter financial crimes.

    Legislative support from the leadership of the National Assembly and relevant committees provided what the NFIU described as the legal foundation necessary to sustain reforms, particularly in the areas of anti-corruption, financial crimes and judicial oversight.

    The NFIU said the contribution of compliance officers across financial institutions, designated non-financial businesses and professions, and virtual asset service providers remained central to the effectiveness of Nigeria’s AML/CFT/CPF framework.

    Looking ahead, Ms. Bakari said the agency would continue to deepen cooperation and intelligence-led supervision as Nigeria prepares for its next mutual evaluation. “This achievement belongs to Nigeria and its partners. The NFIU remains steadfast in its resolve to deepen cooperation, enhance intelligence-led supervision and ensure that Nigeria continues to meet and exceed global AML/CFT/CPF expectations,” she said.

    The NFIU concluded that the country’s recent progress marked a significant step in strengthening the integrity of the financial system and restoring international confidence in Nigeria’s regulatory and enforcement architecture.

  • 2026 World Bank outlook: NESG puts Nigeria’s growth at 9.9 percent

    2026 World Bank outlook: NESG puts Nigeria’s growth at 9.9 percent

    Nigeria’s economic outlook for 2026 is something to cheer about if the projections by the World Bank and the Nigerian Economic Summit Group (NESG) are anything to go by.

    According to the 2026 ‘Global Economic Prospects’ report by the World Bank released recently, the Bretton Wood institution projected Nigeria’s economic growth rate for 2026 to 4.4 percent from the 3.7 percent forecasted in June 2025.

    The global financial institution also upgraded Nigeria’s economic growth rate for 2027 to 4.4 percent from 3.8 percent.

    In addition, the bank estimated that Nigeria’s economy grew by 4.2 percent in 2025, compared to the 3.6 percent forecasted in June last year.

    Also, the World Bank increased its 2026 global economic growth rate projection from 2.4 percent to 2.6 percent.

    In the report, the financial institution also estimated a 2.7 percent economic growth rate for the 2026 period compared to the 2.3 percent orecasted in June last year.

    According to the report, the 2027 global economic growth rate is projected at 2.7 percent, compared to the 2.6 percent forecasted in June 2025.

    The World Bank said the global economy is proving more resilient than anticipated despite persistent trade tensions and policy uncertainty.

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    However, the bank noted that while global growth remains stable, it is concentrated in advanced economies and is unlikely to reduce extreme poverty, with the 2020s on track to be the weakest decade since the 1960s.

    “The resilience reflects better-than-expected growth — especially in the United States, which accounts for about two-thirds of the upward revision to the forecast in 2026,” the World Bank said.

    The institution said global growth will slow in 2026 as trade-related boosts fade, but easing financial conditions and fiscal expansion are expected to cushion the impact.

    It added that inflation is projected to edge down to 2.6 percent in 2026, with growth picking up in 2027 as trade and policy uncertainty ease.

    Indermit Gill, the World Bank Group’s chief economist, said with each passing year, the global economy has become less capable of generating growth while appearing more resilient to policy uncertainty.

    “But economic dynamism and resilience cannot diverge for long without fracturing public finance and credit markets,” Gill said.

    “Over the coming years, the world economy is set to grow slower than it did in the troubled 1990s — while carrying record levels of public and private debt.

    “To avert stagnation and joblessness, governments in emerging and advanced economies must aggressively liberalise private investment and trade, rein in public consumption, and invest in new technologies and education.”

    The World Bank said sub-Saharan Africa’s growth is expected to rise to 4.3 percent in 2026 and 4.5 percent in 2027.

    In 2026, the institution said growth in developing economies is projected to slow to 4 percent from 4.2 percent in 2025 before edging up to 4.1 percent in 2027 as trade tensions ease, commodity prices stabilise, financial conditions improve, and investment flows strengthen.

    The bank noted that growth is projected to be higher in low-income countries, averaging 5.6 percent over 2026–2027, supported by stronger domestic demand, recovering exports, and moderating inflation.

    The World Bank said developing economies will continue to lag behind advanced economies, with per capita income growth projected at 3 percent in 2026, widening the income gap.

    “At this pace, per capita income in developing economies is expected to be only 12% of the level in advanced economies,” the institution said.

    Ayhan Kose, the World Bank Group’s director of the Prospects Group, said with public debt in emerging and developing economies at its highest level in more than half a century, restoring fiscal credibility has become urgent.

    “Well-designed fiscal rules can help governments stabilise debt, rebuild policy buffers, and respond more effectively to shocks,” Kose said.

    “But rules alone are not enough: credibility, enforcement, and political commitment ultimately determine whether fiscal rules deliver stability and growth.”

    Also the NESG has declared that the country has exited its period of acute economic crisis, forecasting a 5.5% GDP growth rate for 2026.

    The announcement was made on Thursday during the launch of the group’s 2026 Macroeconomic Outlook report, titled “Consolidating Economic Stabilisation Gains: Pathway to Sustainable Growth in Nigeria.”

    NESG also projected foreign reserves to rise to $52 billion, but cautioned that the next 18 months will be critical in preventing policy reversals.

    NESG Chairman, Niyi Yusuf, acknowledged that Nigeria had undergone one of its most disruptive adjustment periods in recent history.

    He described recent reforms as painful but necessary, noting they marked the stabilisation phase of economic recovery.

    “Stabilisation alone does not equate to prosperity,” Yusuf said, stressing that growth remains modest, uneven, and concentrated in a few sectors with limited impact on jobs and household incomes.

    He urged policymakers to consolidate reform gains and transition toward sustainable, inclusive growth.

    Meanwhile, the Chief Economist Dr. Olusegun Omisakin outlined projections for 2026 showed GDP growth: 5.5%, with inflation: 16% (with a target of single digits by 2029).

    He warned that Nigeria faces a “critical 18-month window” to consolidate reforms, citing examples from Ghana and Brazil where economies regressed after failing to sustain momentum. Without consistent implementation, growth could slip back to 2–3%.

    Omisakin emphasised the need to shift focus from the services sector, which currently contributes 60% of GDP, to more productive areas such as agriculture and manufacturing.

    He argued that linking manufacturing with agriculture could deliver 6–8% growth in the sector.

    The NESG urged both government and private sector stakeholders to remain committed to reforms.

    Omisakin concluded: “Nigeria has turned the corner. Now we must sustain the momentum.”

  • One year scorecard: Transcorp Hotels’ stakeholders score Oshogwe high

    One year scorecard: Transcorp Hotels’ stakeholders score Oshogwe high

    Exactly 12 months after Uzoamaka Oshogwe mounted the saddle as the Managing Director/CEO of Transcorp Hotels Plc, the received wisdom out there is that the woman who sits atop one of the major players in the nation’s hospitality subsector is that she has indeed raised the bar in nearly all parameters.

    Oshogwe, whose appointment was announced by the Board of Directors of Transcorp Hotels in December 2024, assumed her new role on January 1, 2025, at the hospitality subsidiary of Transnational Corporation Plc, and has not looked back ever since.

    The Transcorp Hotels boss, who brings a wealth of experience spanning over 30 years in leadership, business transformation, and strategic management as a seasoned executive with a proven track record of delivering exceptional results, has reportedly steered the hospitality behemoth into an exciting new chapter of growth and expansion.

    With her experience developing large-scale luxury projects, Oshogwe’s resumption, according to stakeholders, has marked a significant milestone in the journey of Transcorp Hotels Plc as it continues to uphold its legacy of redefining excellence in the Nigerian hospitality industry.

    Since assuming office, Oshogwe has delivered a defining period of transformation for Nigeria’s leading hospitality company. This strong leadership foundation has been instrumental in shaping the strategic direction and performance of Transcorp Hotels Plc under her stewardship.

    One of the most striking achievements of Oshogwe’s tenure has been the company’s robust financial growth, driven by operational efficiency, revenue diversification, and disciplined execution.

    In Q1 2025, Transcorp Hotels Plc reported ₦21.0 billion in revenue, representing a 52% increase year-on-year, a performance widely acknowledged as evidence of strong market demand and effective leadership.

    The momentum accelerated in the first half of 2025, with revenue rising 60% year-on-year to ₦47.57 billion. Gross profit surged by 71%, underscoring improved margins and cost optimisation. The company also approved an interim dividend exceeding ₦1 billion (10 kobo per share), reinforcing its commitment to delivering tangible returns to shareholders.

    By Q3 2025, revenue had reached ₦72.31 billion, reflecting a 49% year-on-year increase, while Profit Before Tax rose by 36% to ₦22.4 billion. Gross profit margins expanded to an impressive 76%, highlighting sustained operational excellence and strong service delivery across the portfolio.

    Collectively, these results have strengthened Transcorp Hotels Plc’s reputation as one of the most financially resilient and high-performing hospitality companies on the Nigerian Exchange.

    Experts view Transcorp Hotels Plc’s fortunes positively, citing strong revenue growth, increased profitability (especially in Q3 2025), improved margins, and strategic management, driven by booming Nigerian hospitality demand, efficient operations at Transcorp Hilton Abuja.

    Analysts expect the company to capitalise on Nigeria’s economic growth, with projections for continued strong performance in leisure, business travel, and events.

    Her first year in office has been marked by exceptional financial performance, strategic asset activation, global recognition, and strengthened shareholder value, firmly positioning Transcorp Hotels Plc as a dominant force in Africa’s hospitality and MICE landscape.

    Before her appointment, she served as Managing Director/CEO of Afriland Properties Plc, where she led landmark real estate developments and portfolio expansion.

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    Her career includes senior leadership roles at United Bank for Africa Plc and Accenture UK, equipping her with deep expertise in strategy, operations, and transformation. Academically, she holds a B.Sc. in Chemistry from Ambrose Alli University, an MSc in Information Systems Design from the University of Westminster, London, and a professional certificate in Real Estate Management from Harvard Business School. She is also an RICS-accredited Civil and Commercial Mediator, a Fellow of the Institute of Management Consultants, and an alumna of Lagos Business School and IESE Business School, Spain, having completed both institutions’ Advanced Management and Chief Executive programmes.

    Under Oshogwe’s leadership, Transcorp Hotels Plc has received extensive local and international recognition, further validating its market leadership and service excellence.

    In 2025, the company was recognised by Statista, in collaboration with the Financial Times, as one of the fastest-growing companies in Africa, while Africa Business Magazine listed Transcorp Hotels Plc among Africa’s Top 250 Companies.

    At the prestigious Seven Star Luxury Awards in Portugal, the company secured triple honours, winning Best Luxury Business Hotel (Nigeria & Africa) for Transcorp Hilton Abuja, Best Luxury Events and Conference Centre (Nigeria & Africa) for the Transcorp Centre, and Best CEO of the Year, awarded to Uzoamaka Oshogwe for her transformational leadership.

    Further reinforcing its dominance, Transcorp Hilton Abuja clinched five major titles at the World Travel Awards 2025, including Nigeria’s Leading Business Hotel, Nigeria’s Leading City Hotel, Nigeria’s Leading Hotel, Nigeria’s Leading Hotel Suite, and Africa’s Leading Business Hotel.

    Additionally, Transcorp Hotels Plc was named Hospitality Company of the Year at the Independent Newspapers Awards, recognising its outstanding growth, profitability, and strategic execution.

    A landmark achievement during Oshogwe’s tenure has been the completion and commissioning of the 5,000-seat Transcorp Centre, a  purpose-built events and conference facility. The Centre significantly expands the company’s footprint in the Meetings, Incentives, Conferences, and Exhibitions (MICE) segment, positioning Nigeria as a competitive global conference destination.

    Within its first year of operation, the Transcorp Centre successfully hosted major international events, including the 2025 Afreximbank General Meetings, which attracted heads of state, policymakers, global investors, and industry leaders. This milestone validated the Centre’s capacity to host complex, high-level global engagements and reinforced Transcorp Hotels Plc’s leadership in the premium MICE market.

    Beyond operational and brand achievements, Oshogwe’s leadership has continued to unlock value for shareholders through sustained profitability, dividend growth, and strategic asset optimisation. Transcorp Hotels Plc’s earlier entry into the ₦1 trillion market capitalisation club on the Nigerian Exchange remains a defining indicator of investor confidence and long-term value creation.

    In just one year, Oshogwe has firmly established herself as a transformational leader, delivering strong financial results, global recognition, and strategic expansion for Transcorp Hotels Plc. Her tenure to date reflects a compelling blend of vision, execution, and excellence: positioning the company for sustained growth and reinforcing its prominence on both the African and global hospitality stage.

  • Olam Agri named top employer 2026 for sixth consecutive year

    Olam Agri named top employer 2026 for sixth consecutive year

    Olam Agri has been recognised by the Top Employers Institute as a Top Employer 2026 in Nigeria for the sixth consecutive year, reinforcing Olam Agri’s sustained commitment to creating a high-performing workplace through data-driven people strategies, independent validation, and a clear focus on practices that drive business performance, employee engagement and growth.

    The Top Employers Institute also recognized Olam Agri as a Top Employer across the African continent for the sixth consecutive year, with certifications in nine other countries including Cameroon, Côte d’Ivoire, Mozambique, Nigeria, Senegal, South Africa, Australia, The Netherlands, and Switzerland.  This recognition underscores Olam Agri’s position as an employer of choice, where employees are empowered to grow meaningful careers within a purpose-driven organisation that values performance, inclusion, collaboration, and long-term impact.

    Active in 131 countries/regions, Top Employers Institute is the global authority in HR certification, benchmarking and advisory. Its Programme certifies organisations based on the results of its HR Best Practices Survey which covers six domains including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, and Wellbeing.

    Speaking on the significance of the consecutive recognitions, Jaideep Biswas, Senior Vice President & Regional Head of Human Resources, Olam Agri, said, “To have secured the Top Employer Certification for the sixth consecutive year reinforces our focus and intentionality on building and maintaining an engaged, inspired and satisfied workforce. Our team is our greatest asset, and we continuously deploy cross-cutting programmes to ensure excellence and shared learning.”

    Anil Nair, Olam Agri in Nigeria Country Head, explained, “As we strive to ensure a food-secure world, we also ensure our world-class workforce finds fulfilment in their roles. Thanks to our human resource department leaders’ inputs, we keep recording positive employee sentiment and high retention rates. The sixth consecutive Top Employee certification will spur us to do more to maintain a well-equipped and inspired workforce as the world of work transforms.”

    Olam Agri is committed to building an inspiring and high-performing organisation where passionate employees drive business growth, contribute to a sustainable future, and build fulfilling careers through:

    A culture of excellence: that encourages collaboration and teamwork, rewards meritocracy and entrepreneurial spirit that allows intelligent risk-taking, and a diverse and inclusive workplace built on trust and autonomy. Easy access to senior leadership further empowers employees, eliminating bureaucratic hurdles and fostering agile decision-making.

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    Making a difference: a purpose driven workplace that has sustainability at its heart. It gives us an opportunity to play our part in strengthening global food security, improving access to better nutrition, enhancing the livelihood of communities, as well as tackling climate change.

    Opportunity to flourish: a global footprint allowing careers that are truly global. This allows people to take on challenging assignments that broaden their experience and help shape and guide their own careers matching their aspirations. Everyone feels valued, recognised and supported to reach their full potential.

    Top Employers Institute CEO Adrian Seligman commented: “Achieving a Top Employer Certification for 2026 reflects Olam Agri’s dedication to building an outstanding workplace that enables sustained business performance. Their strong alignment between people strategy and organisational goals, combined with a commitment to continuous improvement, demonstrates the impact of their transformative practices. We are proud to recognise Olam Agri for their meaningful contribution to a better world of work.”

  • Businesses risk N10m fine for non-compliance with data protection audit

    Businesses risk N10m fine for non-compliance with data protection audit

    Businesses whose primary role is linked with data control and processing are now required to conduct data protection compliance audits or risk a fine of N10millin or 2% of annual gross revenue, The Nation can authoritatively report.

    From available information, the Nigeria Data Protection Act (NDPA) mandates that all Data Controllers and Processors of Major Importance conduct an annual Data Protection Compliance Audit and file their returns with the Commission within the Q1 window.

    Besides, the official commencement of the Audit Season provides an ideal window for a thorough data protection review. By initiating the process early, organisations can ensure their assessments are exhaustive and stress-tested. This is particularly vital this year, as the NDPC has signalled increased oversight and more rigorous penalties for non-compliance.

    Specifically, the Nigeria Data Protection Commission (NDPC) has signaled stricter enforcement this year, with penalties for non-compliance reaching up to ₦10 million or 2% of annual gross revenue.

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    Expatiating, Amoo Francis, a data analyst, reiterated that Nigeria’s data protection compliance is now governed by the Nigeria Data Protection Act (NDPA) 2023 and the effective General Application and Implementation Directive (GAID) 2025, which replaced the old NDPR and provides concrete rules for compliance, including mandatory registration for major processors, Data Protection Officer (DPO) requirements, Data Protection Impact Assessments (DPIAs), and stricter breach reporting, signaling a shift to active enforcement with penalties for non-compliance, note Afriwise, Mondaq, Andersen in Nigeria, and Chambers and Partners.

    According to him, key changes include defined roles for DPOs, expanded definitions for “Data Controllers/Processors of Major Importance,” and new mechanisms for cross-border data transfers and data subject redress. “The General Application and Implementation Directive (GAID) became effective in September 2025, providing the operational roadmap for the NDPA and superseding the former NDPR.”

    The NDPC is actively enforcing compliance, issuing notices, and imposing penalties, requiring companies to conduct gap analyses and update policies immediately.

    Lending credence to the foregoing, Mikun Adeseyoju of DataPro Nigeria Limited, a leading compliance solutions and technology-driven rating agency in Nigeria, advised companies to ensure they factor audit of their data protection into their work plan early in the year.

    “Do not just tick the box; ensure true resilience. At DataPro, we believe in “Practice over Theory.” As a licensed Data Protection Compliance Organisation (DPCO) celebrating over 30 years of excellence (1995–2026), we do not just help you file a report; we ensure you meet all regulatory requirements while strengthening your data protection framework. We will assist your organisation in developing, documenting, and compiling all the required information for submission.

    “Our NDPA Audit Service covers risk identification, uncovering hidden vulnerabilities in your data processes, and with our remediation process we hope to deploy practical steps to fix gaps before the regulator sees them and also guarantee compliance assurance by ensuring your 2026 Audit Report is filed accurately and on time.”

  • Is Nigeria ready for unmanned fuel stations?

    Is Nigeria ready for unmanned fuel stations?

    The nation’s downstream petroleum marketing is set to experience a major shift with unveiling of the first fully automated and unmanned fuel stations by AA Rano Nigeria, a development which has elicited mixed feelings in different quarters. Ibrahim Apekhade Yusuf in this report examines the pros and cons.

    When a self-dispensing filling station Pinnacle Oil and Gas Limited owned by Mr. Peter Mbah, first made its debut in Lagos in 2016, it was indeed seen as a novel idea.

    Enter AA Rano

    But it does appear that the idea whose seed was sown 10 years ago will soon become the in-thing, all thanks to the initiative by AA Rano Nigeria which has hinted of plans to introduce automated, unmanned fuel stations with 24/7 service, digital payments, and SmartPump technology, this month, marking a shift in the downstream petroleum market and altering how motorists purchase fuel and how operators manage retail outlets.

    According to the management of the AA Rano Nigeria, founded by oil magnate Auwalu Abdullahi Rano, the stations will offer 24-hour, self-service fueling supported by digital controls and remote monitoring. The project is being implemented through a partnership with Petrosoft Limited, a Nigerian technology firm that develops management systems for the oil and gas industry.

    Under the agreement, Petrosoft will deploy its automated station technology across AA Rano’s retail network nationwide.

    In a statement by AA Rano, the first unmanned stations are expected to start operations in January 2026, allowing customers to refuel, make contactless payments and complete transactions without attendants.

    AA Rano said the technology is designed to reduce losses, improve transparency and reassure customers that they are getting the exact volume of fuel they pay for. Mohammed Sule, general manager for retail at AA Rano Nigeria, said the investment reflects the company’s response to rising competition and changing consumer expectations.

    “This is about making fueling simpler, faster and more reliable,” Sule said. “Customers want convenience and trust. Automated stations allow them to fuel at any time, with confidence in what they are buying.”

    Petrosoft will power the stations with its SmartPump platform, integrating retail automation, inventory tracking and corporate fuel management. The system enables self-service refueling, fleet vehicle identification and real-time dispenser control, with tank gauging and cloud monitoring to track fuel levels, detect leaks and curb theft.

    Petrosoft Chief Executive Officer Joshua Denila said the project shows how homegrown technology can solve long-standing problems in Nigeria’s fuel retail market. “Our systems are developed locally and built to international standards,” Denila said. “They are designed to improve efficiency from single stations to large fueling depots.”

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    Petrosoft Limited also hopes to deploy its SmartPump technology across AA Rano’s 200 retail outlets nationwide, including border communities with Niger, Chad, Benin and Cameroon.

    AA Rano began fuel marketing in 1994 and was incorporated in 2002. Headquartered in Kano, the group operates across the oil and gas value chain, including distribution, marketing, logistics and trading. It runs more than 200 retail outlets supported by a fleet of more than 600 trucks. Recent investments include a 60-million-liter tank farm in Lagos, an LPG terminal and a 20,000-metric-ton LPG facility backed by an acquired vessel.

    Auwalu Abdullahi Rano built AA Rano from the ground up, expanding it from a small operation in Kano into a diversified group with interests in oil and gas, aviation and agriculture. Beyond business, Rano is active in social development through charitable efforts. Through the A.A. Rano Foundation, he supports education, health care and youth-focused initiatives across Nigeria.

    Matters arising

    Expectedly, AA Rano’s project described as laudable in some quarters has also led to some unforeseen reactions.

    Petrol station workers under the aegis of the Concerned Petrol Station Workers have opposed plans by AA Rano to introduce what the company described as Nigeria’s first fully automated and unmanned fuel stations.

    The workers warned that the move, if implemented without adequate safeguards, could worsen unemployment and contribute to rising insecurity across the country.

    The convener of the Concerned Petrol Station Workers and rights advocate, Comrade Ibrahim Zango, expressed strong reservations about the development.

    In a statement issued in Kaduna last Thursday, Zango said many young Nigerians currently engaged as petrol station attendants could lose their means of livelihood.

    He noted that the timing of the initiative was wrong, given the country’s prevailing economic challenges and rising unemployment rate.

    “At a time when Nigeria is already grappling with mass unemployment, rising cost of living, and growing insecurity, deploying job-eliminating technology without safeguards is dangerous,” Zango said.

    He urged stakeholders to consider the human cost of the innovation, stressing that thousands of families depend on earnings from petrol station jobs.

    “So imagine the number of AA Rano fuel stations alone across the country and even beyond. Imagine the number of pump attendants working and earning their living from these stations,” he added.

    Zango said many of the attendants had spent decades in the job and deserved better treatment than being displaced without a clear transition plan.

    “To us, sending us out of the jobs some of us have been doing for decades without robust plans will only multiply our crisis as a country,” he stated.

    The workers’ leader acknowledged the importance of technological advancement but insisted that innovation should not come at the expense of workers’ welfare.

    According to him, automation in the downstream petroleum sector should be designed to create new opportunities rather than eliminate existing jobs.

    Zango also called on the Federal Government and relevant regulatory agencies to urgently develop clear policies to balance technological innovation with labour protection.

    He further appealed to AA Rano’s management to uphold its social responsibility, noting that many petrol station attendants today were once at the same starting point as the company’s chairman.

    “They should not be pushed out of their livelihoods in the name of innovation,” Zango said, urging dialogue between the company, workers, and regulators before the project is implemented.

    Nigeria not alone

    Apart from Nigeria, several African countries are adopting automated and contactless fuel dispensing, most notably South Africa, Kenya, Uganda, Tanzania, and Ghana.

    From available information, The Nation can authoritatively report that in South Africa, contactless fleet fueling solutions have been deployed by companies like OTI PetroSmart.

    The country has generally high adoption of general contactless payment methods, which facilitates the use of such systems.

    Kenya, Uganda, and Tanzania: The company Pesapal launched a forecourt management solution in these countries in January 2023 that integrates digital and mobile money payments, enabling automation and remote monitoring of fuel stations.

    While not fully automated unmanned stations as in Nigeria, Ghana uses digital retail outlet fuel monitoring systems, and local stations are implementing technology for real-time sales and tank data management.

    These platforms aim to improve efficiency, transparency, and the customer experience, often using locally developed technology to address specific market challenges.

    Best practice abroad

    According to Dotun Morgan, a petroleum economist, there are contactless fuel stations in the USA, Canada, Japan, China, most of which have been serving the public interest from time immemorial.

    While acknowledging that it is an emerging trend in Nigeria today, Morgan said matter-of-factly that contactless fuel stations are available and widely implemented in the USA, Canada, Japan, and China, although the technology and prevalence can vary by station and region.

    “In the United States for instance, contactless payment is widely available at many major fuel chains, often through mobile apps or tap-to-pay options at the pump and besides, many major brands like ExxonMobil, Shell, BP, and Chevron offer dedicated apps that allow you to pay at the pump from your car using geolocation or QR codes.

    “This is just as many modern pumps are equipped with NFC (Near Field Communication) readers, allowing payment with smartphones (Apple Pay, Google Pay) or contactless credit/debit cards. While many stations have the hardware, the service is not universally enabled at all locations, so it’s best to look for the universal wave symbol or check the app for participating locations.”

    Expatiating, he said, “In Canada, contactless payment is common and readily available at most major fuel retailers. Companies like Petro-Canada have mobile apps that support contactless payment, including Apple Pay and Google Pay, and allow users to manage loyalty points and activate car washes and most modern pumps support standard tap-to-pay options using credit cards, debit cards, or mobile wallets.  There are several self-service gas stations common in Japan, and most of these accept credit cards at the pump.

    “The self-service terminals usually feature a touchscreen interface. While an English language option is often available, major credit cards are accepted directly at the pump. China is rapidly adopting advanced, highly automated contactless refueling technologies, as many major oil companies like CNPC have rolled out “non-contact refueling” services, where customers can pay via mobile payment platforms (like Alipay or WeChat Pay) using QR codes or in-car infotainment screens.”

    Some smart stations are even testing fully automated, robotic refueling systems where a robotic arm handles the entire process, including payment authentication via plate recognition, without the driver needing to leave the vehicle.

    Pre-COVID 19, U.S. gas stations were making the transition to more contactless solutions for their customers with Chevron becoming the first official Apple Pay partner in 2016.

    Mobil, the first U.S. gas retailer to introduce pay at the pump in 1986, offered motorists the first mobile payment option in 1997 with its Speedpass key tag. By 2015 ExxonMobil was allowing customers a contactless pump and pay solution on their smartphones.

    While most retailers had to switch to EMV technology by 2015 – or risk being on the hook for fraudulent credit card activity – U.S. gas retailers originally had until October 2020, to make the change because of the time and cost associated with upgrading each pump.

    Even before the COVID-19 pandemic changed the way we think about contact with high-touch surfaces and face-to-face transactions, U.S. gas stations were embracing contactless solutions for motorists.

    Also in Saudi Arabia, running a fuel station without automation is no longer possible. The Arabian country is rapidly adopting automated and contactless fuel/gas platforms, driven by Vision 2030 and government mandates for digital transformation, with solutions like QR code payments (STCPay), RFID systems, and self-service terminals allowing for unattended, app-based fueling and payments, reducing manual work and improving efficiency.

    The government requires fuel stations to have management systems for tax compliance, with plans to phase out non-compliant manual operations.

    Automation ensures adherence to regulations, improved security, and accurate reporting, moving away from paper-based systems.

    The Saudi government stipulates that all gas stations must have a fuel management system and be connected to the tax system to print receipts.

    This correspondent had in 2017, during a pilgrimage to the Holy land saw a few gas stations that were self-service, and this was at a time the idea was pretty unknown anywhere such that yours truly was awestruck by the experience.

    Unfounded fears about new technology

    Checks by The Nation revealed that the country currently has over 22,681 registered filling stations.

    While commenting on the fears being expressed by workers over loss of jobs, Stanley Okafor, a public affairs commentator said it is unfounded given the fact that AA Rano’s phased introduction of 200 automated filling stations represents less than one percent of the entire population size of the fuel stations nationwide.

    “It is true that AA Rano is leading the vanguard of those bringing innovation into the downstream sector but it doesn’t mean that they will change things overnight, it will be a gradual thing.”

    Pressed further, Okafor said, unlike the conventional platforms, contactless fuel stations offer significant advantages for both customers and station operators, focusing on speed, security, and efficiency.

    While commenting on the benefits, he said it aids speed and convenience especially as transactions are completed in seconds, cutting transaction time by up to 50%.

    This reduces wait times and allows drivers to refuel and leave quickly, Okafor stressed.

    Automated, contactless stations operate around the clock, providing fuel access at any time without the constraints of traditional operating hours, just as it minimises physical contact with keypads, cash, and other shared surfaces reduces exposure to germs and viruses, a significant benefit for public health.

    Besides, contactless payments use secure technologies like tokenisation and encryption (NFC and RFID), making it difficult for fraudsters to skim card data and providing better protection than magnetic stripe cards.

    Unmanned fuel station an idea whose time has come!

    For many Nigerians, automated and contactless fuel stations are a phenomenon that has come to stay and therefore inevitable.

    While acknowledging that AA Rano is currently at the forefront of the innovation, analysts have argued that major players like NNPC Limited, TotalEnergies, Eterna, Ardova PLC (AP), and Total Plc (now TotalEnergies Marketing Nigeria Plc) are more than likely to adopt similar technologies or partner with local tech firms like Petrosoft or international providers like 360Fuel.

  • ‘How businesses can effectively manage energy, other costs’

    ‘How businesses can effectively manage energy, other costs’

    Innocent Ifode is the Managing Director/Chief Executive, Fueling Agile Nigeria Limited, a technology-driven venture with focus on fuel and fleet management. In this interview with Ibrahim Apekhade Yusuf, the software engineer shares interesting insights on how businesses can address cost efficiency, strengthen accountability, and maintain optimum productivity in their day-to-day operations. Excerpts:

    One of the cost components of businesses is energy cost. Thankfully, this is one area of concern to you as a business. What are the gaps you want to bridge here?

    For as a business concern, the decision to veer into this area was borne out of the need to address the practical problem we all observed daily: the inefficiency and frustration drivers and businesses face when trying to access fuel and petroleum products such as Premium Motor Spirit and Automotive Gas Oil (AGO). Motorists are often forced to endure long queues at a single filling station, even though the same product is available across multiple stations at the same time. That bottleneck reflects a broader lack of coordination, speed, and innovation in fuel access.

    Unfortunately, for corporate users, the challenge is even more pronounced. Many companies depend on fuel cards and bulk supply arrangements that take days to be approved, loaded, or topped up, disrupting operations and increasing downtime. Fueling Agile Nigeria was created to close this gap by introducing a faster, smarter, and more flexible fuel access system—one that prioritises efficiency, real-time availability, and seamless transactions for both individual and corporate consumers.

    Our mission therefore is to power operational efficiency while protecting the profitability of businesses that depend on fuel and fleet assets. We are deliberately focused on helping organisations safeguard their bottom line by reducing fuel waste, eliminating fraud, and improving visibility across fuel consumption and fleet operations. Our competitive advantage lies in our use of advanced fuel-monitoring technology, robust fraud-prevention systems, and a carefully selected network of strategic partners. Together, these enable us to deliver real-time data, tighter controls, and smarter decision-making for our clients—turning fuel from a cost burden into a managed, optimised resource.

    What have been the biggest early challenges you’ve faced, and how are you overcoming them?

    One of our biggest early challenges has been encouraging businesses to adopt a new, data-driven approach with strict monitoring systems. Change can be difficult, especially when it involves technology that alters traditional workflows and introduces greater transparency. We are overcoming this by demonstrating tangible value—showing how our solutions reduce fuel waste, prevent fraud, and optimise operations. Through hands-on onboarding, client education, and clear performance metrics, we help businesses see the efficiency gains and cost savings for themselves, making adoption not just easier, but compelling.

    How do you measure success for your business in the short term, medium to long term?

    In the short term, we measure success by the tangible impact we deliver to our clients—specifically, the number of businesses whose profitability and operational efficiency we have helped safeguard through our fuel and fleet solutions. Over the long term, success is measured by our ability to scale, innovate, and shape the industry: expanding our footprint across markets, setting new standards for fuel management and fraud prevention, and becoming a trusted strategic partner for businesses seeking smarter, technology-driven operations.

    What are your plans for scaling — geographically, by service-line, or by customer segment?

    We plan to scale strategically by geography and customer reach. In the first phase, we are expanding operations to key hubs such as Port Harcourt and Abuja, targeting the deployment of 10,000 fuel cards within the first two years. Beyond geographic growth, we aim to broaden our service offerings and deepen engagement with corporate clients, positioning Fueling Agile Nigeria as a comprehensive, technology-driven partner for businesses seeking efficiency, transparency, and cost optimisation in fuel and fleet management.

    Your work includes the AgileFlex Fuel Card. How does this system operate in practice, and how does it use technology and data to improve fuel accountability and operational efficiency for organisations?

    The AgileFlex Fuel Card is designed as an integrated fuel-management system rather than a simple payment tool. Each card is connected to a real-time data infrastructure that captures transaction-level information at the point of fuel purchase, including volume dispensed, time, location, vehicle or driver identification, and vendor details.

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    By consolidating this data into a single platform, organisations gain continuous, granular visibility into fuel usage across their operations. This level of oversight allows fleet managers to identify inefficiencies and irregular patterns early—such as abnormal fuel volumes, repeated off-route purchases, or usage that does not align with approved routes or schedules.

    The system is supported by secure card technology and a reliable payment network, ensuring transaction stability and minimising downtime. Cards can be funded within a short operational window, enabling businesses to respond quickly to changing fuel needs. In addition, the platform is supported around the clock, including weekends and public holidays, reflecting the reality that many fleets operate beyond standard business hours. Overall, the value lies in using data, availability, and control to reduce waste, strengthen accountability, and support more disciplined fuel management across complex operations.

    You reference the use of bespoke technology solutions in your work. In what situations do you develop customised tools for clients, and how do you evaluate the cost–benefit trade-off of this approach?

    Our bespoke technology solutions are developed primarily on a business-to-business basis, where standard platforms may not fully address a client’s operational or governance requirements. In such cases, we work closely with organisations to design targeted tools that strengthen internal processes and improve accountability.

    These solutions often include biometric identity systems to enhance verification and access control, as well as staff welfare and monitoring frameworks that support compliance, productivity, and transparency. The decision to build custom tools is guided by a clear cost–benefit assessment—focusing on whether the solution delivers measurable efficiency gains, risk reduction, or long-term operational value that justifies the investment.

    Nigeria’s trucking and logistics sector continues to grapple with challenges such as downtime, fuel losses, and unauthorised asset use. How do your solutions support fleet managers in addressing these structural inefficiencies?

    Our approach is centred on maintaining operational continuity while improving control and accountability. We have designed our solutions to prioritise speed, reliability, and visibility, ensuring that fleets can remain operational with minimal disruption.

    By combining real-time fuel monitoring, secure transaction systems, and continuous data oversight, fleet managers gain clearer insight into how assets are being used and where losses may be occurring. This enables faster decision-making, reduces downtime linked to fuel access or system delays, and discourages unauthorised usage through tighter controls. Ultimately, the objective is to help transport companies move from reactive problem-solving to proactive, data-driven fleet management.

    Partnerships are often central to building scale in energy and mobility services. Which collaborations have been most critical in expanding your network, and what challenges have you encountered in establishing or sustaining these relationships?

    Our growth has been anchored on a strong ecosystem of financial institutions and fuel distribution partners. On the financial side, partnerships with institutions such as Providus Bank and Wema Bank have been instrumental in providing the secure payment infrastructure and settlement platforms required to support scale and reliability.

    Equally important are our relationships with fuel station operators and marketers, including networks such as Northwest, MRS, Rainoil, Mobil, NNPC, and Enyo. These partnerships enable broad geographic coverage and consistent access points for users across the country.

    The primary challenges in forming and maintaining these relationships have centred on aligning operational standards, technology integration, and service-level expectations across diverse partners. We address this through clear governance frameworks, continuous engagement, and a shared focus on efficiency, transparency, and long-term value creation.

    From your perspective, what role should the government play in supporting companies operating at the intersection of fuel distribution, technology, and fleet management—particularly in areas such as infrastructure, taxation, and regulation?

    Government’s most constructive role lies in creating a predictable and well-regulated operating environment. This includes enforcing strict compliance with verified merchant registration standards to ensure transparency, accountability, and trust across the fuel distribution value chain.

    In addition, the government can support the sector by encouraging the adoption of modern technologies that improve monitoring, reduce leakages, and strengthen data integrity. Clear regulatory frameworks, combined with policies that incentivise innovation, would help legitimate operators scale responsibly while improving efficiency and governance across the industry as a whole.

    Who are your primary customers in terms of industry, fleet size, and geographic reach? What operational challenges do they typically present, and how have your solutions been structured to address these needs?

    Our primary customers span a range of sectors with high mobility and fuel-dependency requirements. These include fast-moving consumer goods (FMCG), communications and technology-enabled services, hospitality and leisure, insurance and professional services, as well as logistics and distribution-focused enterprises. Most operate small to mid-sized fleets, with some managing larger, multi-location vehicle networks across major commercial centres and regional corridors in Nigeria.

    The common challenges they bring to us include fuel leakage, limited visibility into consumption patterns, downtime caused by inefficient fuel access, and weak controls around driver or asset usage. In many cases, these issues directly affect operating costs, service reliability, and profitability. Our solutions are tailored to these realities by combining controlled fuel access, real-time transaction data, and monitoring tools that align with each client’s operational structure. We adapt our systems to fleet size, geographic spread, and sector-specific workflows, enabling organisations to move from fragmented fuel management to a more disciplined, data-driven, and accountable operating model.

    What feedback have you received from customers so far—both positive and critical—and can you share an example that illustrates how your services have created value or informed operational improvements?

    Customer feedback has been broadly constructive, reflecting both the strengths of our model and areas where continuous improvement is required. On the positive side, clients consistently highlight responsiveness, availability, and the practical impact our solutions have on keeping their operations running without interruption.

    One illustrative case involved a fleet driver who was stranded at a fuel station late in the evening due to funding constraints. Through our platform, we were able to activate a fuel credit feature in real time, outside normal business hours. This enabled the driver to refuel and continue operations, avoiding downtime and potential revenue loss for the client. Experiences like this reinforce the importance of round-the-clock support in sectors that do not operate on a fixed schedule.

    At the same time, we have received critical feedback, particularly during periods of system upgrades, where temporary service interruptions—typically lasting up to two hours—have affected platform access. These instances have provided important lessons in change management and service continuity. In response, we are refining our upgrade processes and investing in deployment methods that minimise or eliminate disruption, ensuring system improvements do not come at the expense of our clients’ day-to-day operations.

  • Tech expert Benjamin Oyemonlan receives two awards at CoolWealth Awards

    Tech expert Benjamin Oyemonlan receives two awards at CoolWealth Awards

    Fintech executive, Benjamin Oyemonlan, started 2026 hitting the ground running with two awards at the CoolWealth Awards in Lagos.

    The founder and chief executive officer of Platnova, a financial technology company focused on cross-border payments and digital banking services for users in Africa, received the Young Entrepreneur of the Year and Humanitarian Personality of the Year awards.

    Like.most illustrious personalities,  Benjamin Oyemonlan started his career in software development and financial technology, working on digital payment systems and blockchain-related projects. He became known in parts of the African technology community under the name “Trillbjm” for his involvement in early cryptocurrency and fintech initiatives targeted at young users and small businesses.

    Reports in Nigerian media have described his early work in software engineering and digital finance, as well as his involvement in projects aimed at improving access to online payments and alternative financial tools for underserved users.

    Oyemonlan is the founder and CEO of Platnova, a fintech platform that provides multi-currency virtual accounts, payment cards, and cross-border transfer services for individuals and businesses.

    The company focuses on enabling African freelancers, startups, and small businesses to receive and send international payments and to access digital banking tools that are often limited by traditional banking infrastructure.

    Since its launch, Platnova has operated in several African markets and has positioned itself within the growing sector of digital financial services supporting remote work and online commerce.

    In January 2026, Oyemonlan was named Young Entrepreneur of the Year and Humanitarian Personality of the Year at the Cool Wealth Awards held in Lagos, Nigeria.

    According to the award organisers, the recognitions were based on his role in building financial technology products and his involvement in community-focused initiatives.

    He has also been featured in several Nigerian newspapers and business publications, including Vanguard, The Guardian, BusinessDay, The Nation, Independent, Leadership, Daily Times, The Sun, New Telegraph, TheCable Lifestyle, Authority NG, and ThisDay, in relation to his work in fintech and youth entrepreneurship.

    Benjamin Oyemonlan has been involved in educational support projects, digital-skills training programmes, and community development initiatives aimed at young people and low-income communities.

    These activities contributed to his selection for the Humanitarian Personality of the Year award in 2026.

    As a public figure, Benjamin Oyemonlan maintains a public presence through technology conferences, media interviews, and social media platforms. His professional profile has been referenced by Nigerian business and technology media in coverage of fintech development and digital entrepreneurship.

  • NIWA commences clean up of Warri jetties

    NIWA commences clean up of Warri jetties

    The management and staff of the Warri Area Office of National Inland Waterways Authority (NIWA) has commenced cleaning-up exercise of some major jetties within the commercial city.

    The exercise, which commenced from Tuesday, December 9, 2025 to Monday, January 12, 2026, saw three major jetties including; Pessu Waterside, Main Market and Ugbuwangue jetties wearing a new look as all the aquatic weeds, common water hyacinth, floating nylons, plastics and drinking cans as well as refuse dumps were cleared.

    Speaking during the exercise, the Warri Area Manager, National Inland Waterways Authority (NIWA), Engr Rufus Oladimeji, said the exercise was part of NIWA’s ongoing efforts to ensure safe navigation aimed at sustaining inland water transport in the country.

    According to him: “Due to the importance attached to this ongoing cleanup, we have been directed to sustain the exercise until the waterways are fully desilted and made navigable to boat operators plying these routes for the safety of their passengers”.

    While disclosing that the management had made a commitment towards the desilting of the Pessu waterways, Oladimeji noted that “Water hyacinth, an invasive aquatic weed, has been a recurring issue in Nigerian waterways, disrupting navigation, fishing, and local livelihoods”.

    Reacting to the ongoing cleanup exercise, boat passengers at Ugbuwangue have applauded the management and staff of NIWA Warri office for taking it upon themselves to commence the cleanup exercise and called on the federal government to ensure the sustenance of the operations for the safety of commercial transport passengers across the country.

    Operators of Pessu waterways in Warri South Council area, have commended the efforts of the Minister of Marine and Blue Economy, Hon. Adegboyega Oyetola, for his reassurance to embark on the desilting of the Pessu waterways, describing it as as long overdue in opening up the commercial activities of Warri and its environs.