The Nation Newspaper

Category: Business

  • Polaris Bank deepens customer experience, boost environmental sustainability commitment

    Polaris Bank deepens customer experience, boost environmental sustainability commitment

    Service delivery took centre stage as Polaris Bank reaffirmed its commitment to enriching customer experiences while joining institutions globally to mark the 2025 Customer Service Week, themed “Mission: Possible.”

    The annual global event, observed recently recognises the crucial role of customer service professionals and the value they bring to customers and businesses alike.

    Addressing customers and staff, the Managing Director and Chief Executive Officer of Polaris Bank, Kayode Lawal, stated that excellent service remains central to the Bank’s culture and long-term success.

    He noted that while the pursuit of great service can be challenging, it is always worth the effort.

    According to him, Polaris Bank’s service philosophy rests on consistency, thoughtfulness, and excellence, ensuring that every interaction reflects genuine care and responsiveness.

    Lawal expressed appreciation to customers for their trust and feedback, describing them as the foundation upon which the Bank continues to innovate and evolve.

    He reaffirmed the Bank’s pledge to remain by its customers’ side, delivering quality service that meets their needs and expectations at every stage of engagement.

    Throughout the week, Polaris Bank is conducting a range of activities across its branches and digital platforms to celebrate both customers and service champions within the organisation.

    The engagements include customer appreciation sessions, staff recognition ceremonies, and learning initiatives aimed at strengthening service excellence.

    Customer Service Week, celebrated globally in the first full week of October, honours service professionals who make exceptional experiences possible.

    For Polaris Bank, the event represents yet another opportunity to celebrate its people and reaffirm that with teamwork and dedication, great service remains a mission possible.

    Days before the Customer Service Week celebration, the Bank expanded its sustainability agenda through a nationwide tree-planting campaign conducted in partnership with the Nigeria Conservation Foundation (NCF).

    The initiative extended to three major locations: the Lekki Conservation Centre in Lagos State, the Federal University of Agriculture, Abeokuta (FUNAAB) in Ogun State, and Sardauna Memorial College in Kaduna State.

    The campaign, first launched in 2024 during the Bank’s commemoration of World Environment Day, stresses Polaris Bank’s long-term commitment to addressing climate change, reducing carbon emissions, and promoting sustainable practices nationwide.

    At the Lagos event, held at the Lekki Conservation Centre, Executive Directors Chris Ofikulu and Sharafadeen Muhammad joined NCF representatives and volunteers to plant trees as part of the campaign’s expansion.

    Speaking at the event, Chris Ofikulu, Executive Director, Commercial and Retail, expressed appreciation to participants and reiterated that the exercise demonstrates the Bank’s deep commitment to environmental sustainability.

    He recalled leading the Bank’s first tree-planting activity in 2024 at the Tai Solarin University of Education (TASUED), Ogun State.

    He noted that the initiative aligns with the United Nations Decade of Ecosystem Restoration, a global movement focused on building a greener and more resilient future.

    Ofikulu explained that Polaris Bank views sustainability not just as a corporate responsibility but as a business imperative that drives long-term value creation.

    He added that through this initiative, the Bank reaffirms its role beyond traditional banking, aligning with the collective goal of planting 10,000 trees nationwide to promote ecological balance and environmental health.

    Also speaking at the event, Sharafadeen Muhammad, Executive Director, Operations, emphasised that protecting the environment remains a shared responsibility for the benefit of all.

    Read Also: Nigeria, AU call for respect of sovereignty, unity of Somalia 

    He described the initiative as a commendable effort that supports the creation of nature reserves capable of conserving biodiversity while generating economic value.

    In Ogun State, the Divisional Head for Ogun/Oyo Region, Yetunde Okeleye, stated that the tree-planting initiative reinforces Polaris Bank’s commitment to sustainability.

    According to her, planting economic trees across Nigeria demonstrates that environmental stewardship is not only a responsibility but an integral part of the Bank’s identity.

    She added that the partnership with the NCF at the Federal University of Agriculture, Abeokuta, reflects the Bank’s dedication to restoring degraded land, preventing soil erosion, and mitigating the effects of climate change.

    Okeleye described the initiative as a clear expression of Polaris Bank’s determination to foster environmental sustainability and community well-being for future generations.

    In Kaduna State, Kabir Lawal, Acting Group Head for the North West, led staff of the Bank in a similar exercise at Sardauna Memorial College.

    He emphasised that sustainability forms a core part of Polaris Bank’s culture and governance framework.

    According to him, every decision the Bank makes is guided by environmental, social, and governance (ESG) principles designed to address environmental challenges while empowering communities and promoting inclusive growth.

    Lawal explained that the Kaduna exercise, undertaken in partnership with the NCF, goes beyond tree planting to restore degraded areas, prevent erosion, and raise public awareness on the importance of environmental preservation.

    Representatives of the Nigeria Conservation Foundation commended Polaris Bank’s leadership, noting that the trees planted – including both fruit-bearing and shade-providing species – would serve multiple ecological and economic purposes such as erosion control, windbreak, shade provision, and food security enhancement.

    Community leaders from FUNAAB and Sardauna Memorial College expressed appreciation to Polaris Bank and the NCF for their leadership and partnership, describing the initiative as timely and impactful in addressing global climate challenges at the local level.

    Through these initiatives, Polaris Bank continues to integrate sustainability into its core operations, ensuring that climate action and community development remain central to its long-term growth strategy.

    The Bank reaffirmed that through collaboration, innovation, and shared responsibility, building a greener and more inclusive future remains both achievable and essential.

  • Those tyres may have expired

    Those tyres may have expired

    An incident that happened early this month propelled us into writing this story so as to warn other travellers against making such mistakes.

    Mummy Uju, as she is fondly called by her friends, was preparing to travel to the East for the burial of her mother-in-law, slated for last week. Her car had been parked for up to three years. From the looks of it, it looked good, but nobody had used it for years.

    Two weeks into the event, Mummy Uju decided to embark on a journey of about eight hours in the vehicle. She went to the Ikeja Local Government Area to update her vehicle papers. Having done that, she approached a car mechanic to fix what she termed minor things in the vehicle.

    When her neighbour heard she was going to put a vehicle that had been parked for three years on the highway, he advised her against it, urging her to drive the vehicle around first for weeks before embarking on the long journey.

    The neighbour, still trying to dissuade her, asked her about the state of the tyres, and she proudly told him they were new tyres she acquired three years ago. “The four tyres are brand new. They have never been driven or even touched the ground because even though they are fixed on the vehicle, I made sure they rested on wooden planks.”

    The enlightened neighbour told her it was very risky to travel with such tyres, however, Mummy Uju engaged a driver who was more interested in the money he would be paid to drive her and her four children to Aba Ngwa in Abia State.

    Before the vehicle got to Shagamu, one of the front tyres burst. By the time they got to Ore in Ondo State, the remaining three tyres burst. Of course, the vehicle did not even make it to Edo State on that day because of other issues with the car.

    Whether a tyre has been driven or not, whether it has been on the store shelf or not, it is still rubber, and once it reaches its expiry date, it will expire.

    Many people will be embarking on long journeys this season to celebrate Christmas and other events with loved ones. Please do not allow Mummy Uju’s experience to be your lot. She was lucky; no life was lost. 

    Research conducted on road traffic crashes shows that the three major causes of road crashes are: human factor, mechanical factor and environmental factor. The mechanical factor occurs due to irregular and poor maintenance of vehicles, leading to crashes while the vehicle is in motion.

    In essence, crashes due to mechanical factors have to do with the malfunction of the vehicle, which eventually leads to loss of control of the vehicle and invariably to road traffic crashes, especially from tyre bursts, which account for about 10% of road crashes.

    The Federal Road Safety Corps (FRSC) says tyres are the only link between the vehicle and the road. They are in control of your steering, braking, acceleration and absorbing all the bumps that the road may throw at the driver. Hence, there is a need for them to be regularly checked.

    Therefore, there is a need to get acquainted with tyre markings and to know how to properly check tyre air pressure to eliminate the dangers of driving with deflated, overinflated, worn-out, or damaged tyres.

    Bisi Kazeem, an Assistant Corps Marshal (ACM), in one of his media chats said: “That is why the Corps advises every vehicle owner to patronise only genuine tyres, ensuring that the tyres in their vehicles are in good working condition.

    “The fact is that most drivers do not only use fake tyres but use them until they are completely worn out before they change them. That reduces the traction, which most often leads to crashes, especially during the rainy season as a result of slippery surfaces.”

    He said that the FRSC had collaborated with the Standard Organisation of Nigeria (SON) and National Automobile Design and Development Council (NADDC) to get rid of fake and substandard tyres capable of causing road crashes.

    Kazeem said that the collaboration became necessary since it was not within the FRSC mandate to go to sellers and check the standards of all tyres.

    According to him, the collaboration and eventual clampdown on dealers will put an end to the importation and sale of fake tyres in the country.

    He said that the FRSC had religiously sustained the tempo of advocacy and other enlightenment approaches, including conducting motor park rallies, to create the necessary awareness.

    He said that tyres were supposed to last for only four years from the day of manufacture, saying that was why the FRSC advised motorists to always check the date of manufacture before purchase.

    According to him, you will see an inscription reading DOT alongside four numbers indicating the week and year of manufacture of that tyre.

    “For example, DOT 1320 means the tyre was manufactured in the 13th week of the year 2020.

    “When you see that, note that the first 2 numbers indicate the week of manufacture, while the last 2 represent the year in which the tyre was produced.

    Read Also: Chelle to ring changes in Nigeria starting Xl  against Tunisia

    “The expiration date, therefore, is four years after the year written on the tyre,” he said.

    According to FRSC, 772 out of the 9000 Road Traffic Accidents (RTCs) recorded across the country were caused by burst tyres, meaning that nine out of every 100 accidents occur due to a tyre problem.

    The use of fake and expired tyres was responsible for more than 5,000 road traffic crashes (RTCs) that occurred in the last five years, the FRSC disclosed.

    According to the National Highway Traffic Safety Administration (NHTSA) of the United States, one of the most important aspects of a vehicle that keeps the driver safe is the tyre. When these have been created with defects, they may endanger the life of the vehicle operator.

    For fleet operators, it is important to ensure that the tyres on logistics vehicles are not worn or underinflated. Fleet drivers travel approximately 25,000 kilometres a year, as compared with non-professional drivers who travel an estimated 12,000 kilometres annually. So, the likelihood of wear and tear on commercial tyres is greater.

    Stressing that, many tyres have passed their expiration date for use because they sit on shelves long after they should have been put to use. This means even when purchased as new, they are old. The rubber may also be weak and cause it to burst at high speeds, or a certain amount of pressure through hard braking is involved. The rubber may dry out and crack, causing the incident.

    Experts at the NHTSA further said there are many causes of a tyre bursting, particularly from a pothole or bad spots on the road, causing a cut or a dent on the tyre, leading to rapid loss of air inside the tubes. Smaller punctures in the wheel may cause slow air escapes, causing failure of pressure. With an overload, the tyre could give way, resulting in a burst.

    It is important to check the pressure and tread before going at high speeds to avoid a potentially disastrous event from occurring.

    The association also noted that some of the tyres exported to some African countries are not tropicalised. These are tyres that are designed and manufactured for cold regions, imported for use in warm regions, exposing users to expansion and bursting due to heat/weather pressure.

    Such tyres expand during usage due to heat and thermal expansion, resulting in excessive pressure, bursting, accident and death.

    Tyres expire after 4years or after travelling about 80,000km. Whether it has been sitting on the shelf or kept inside without being in use, it expires four years after manufacturing so do not travel with such tyres in your vehicle.

  • GTCO Festival Entrepreneurs, consumers, others relive experience

    GTCO Festival Entrepreneurs, consumers, others relive experience

    It was fun, celebration, business and glitz as usual when GTCO held its annual Food/Drinks Christmas Holiday Festival.

    The festival is powered annually by Guaranty Trust Bank.

     While the entrepreneurs with stalls at the festival praise the organisers for the unparalleled visibility given to their business, attendees at the event commended them for the opportunity they were given to network and shop from a variety of food products, while holiday makers thank them for creating a free avenue for fun and to unwind.

    The 2-day events, 20th-21st of December, had people from different walks of life trooped in to GTCO Centre at Landmark Event Centre to catch fun, unwind, network, expand their business frontiers, and increase their sales at what is gradually becoming the biggest food and drinks festival in Africa.

    According to the organisers, this holiday edition, the first of its kind, was designed to celebrate the richness of African cuisine while creating memorable holiday moments for families and unlocking new revenue opportunities for food – based small and Medium Enterprises (SME).

    Speaking at a press conference in Lagos, GTCO Plc emphasised that the holiday edition marked a deliberate shift toward a more festive, family-focused experience. Unlike the previous editions, this year’s edition featured master classes, showcased immersive holiday attractions, an expanded marketplace and entertainment designed for visitors of all ages.

    An excited Nnamdi Osundu, who is based in the United Kingdom, said he had not experienced anything this exciting since he had been coming back for Christmas. The visitor whom the reporter encountered at the ‘Boli Stall’ while he was ordering roasted yams/boli garnished with [Ugba] oil bean salad said he was having the best time of his life.

    “I came with my group of friends, the majority on holiday from London and America, and we are all having fun. I cannot remember the last time I had this kind of local food. I pray I meet this kind of festival when I come back for Christmas next year.”

    For the gaily dressed Pamela and her friends, it was the perfect holiday festival. “I have not been to Nigeria for three years now. When my sister, who lives in Ikoyi, suggested we come here, initially I was skeptical but thank God we came.

    “I love food and exotic drinks. I bought a pure sugar cane drink spiced up with ginger. I ate abacha garnished with different things, and I ate barbecued goat meat. In fact, I commend the organisers.”

    At the children’s section, it was shrills of excitement and joy. A 9- year- old boy, Chikelu, said he was having so much fun he wished his mum would allow him and his siblings to sleepover. His five- year-old sister, Adaze, said she was going to get her dad to agree to a sleepover at the festival.

    Alhaja Islamia Buharia, who came with three of her children, said they had been around for about five hours, but the children were having so much fun that they refused to leave.

    For the 213 vendors that graced the occasion, it was stories of how they made sales, achieved visibility they could not have achieved and how the event has given them the opportunity to expand their business.

     Mrs Lola Shobowale of Sweet Cravings said that since she started attending GTCO Food and Drink Festival, her business has gained huge visibility that has translated to more money.

    “Thousands of people attended this event, they saw my products, so I recorded more sales and got more orders online even after the event,” said the Lady whose main outlet is at 17B Adebayo Doherty, Rd. 14 Lekki Phase 1, Lagos.

    Speaking on this particular holiday event, she said the timing was apt for holiday makers who have left their abode to visit Nigeria for Christmas and New Year celebrations.

    “I am all thanks to the organisers of this festival because they have made my business to grow,” said an excited Fayokeni Ayo of Bread Box located at 13. Aderi Surulere.

    “This is not our first time attending, and the success of the previous years prompted us to come back. It has given us the opportunity to relate face-to-face with our customers. Usually majority of our customers order online.”

    For Mrs Ebere Stephen, who sells roasted boli, yams, corn, ube, peanuts and other street foods, “If not for GTCO, I would not have been able to train my four boys in school.

    Read Also: Banditry will be defeated in 2026, Akpabio assures Nigerians

    “I started attending the GTCO food and drink festival since its debut eight years ago. This event has given prominence to my business. You needed to see me before I started attending this event. These events changed my life for the better because the huge amount of money I recorded and people who met me here and traced me later to my permanent outlet.”

    The woman whose outlet is at Adeyemu Alakija, close to GTCO Head office, said she was the family’s breadwinner and provides for her entire family from whatever she makes from her business of street food.

    However,  YenGric- Fresh Farm Ltd, which has attended the event twice, expressed reservations about some things at the event. Emmanuella, the young lady at the stall, said they had not recorded many sales as people just come, make enquiries and promised to come back.

    The lady who said they came all the way from Jos to attend the event said the company spent over N200,000 on transport to be in Lagos, and said they were still hoping for the best.

    One of their products, ‘Atili Olive’ 500ml, was selling for N17,000, while tomato paste bottled in 500ml was selling for N10,000, and tatashi of the same quantity was also selling for that amount. On whether the lack of customers was due to the price of their products, she explained that their products, all made in Jos, were organic.

    Generally, prices were pocket-friendly as the organisers were monitoring them. For instance, at ‘O1 Shawarma’, the price of soft drinks like Fanta and Coke was N500. At the ‘Amala Skye’,  a wrap of amala sold for N500 while a piece of beef was N1,000.  At ‘Sweet Cravings’ that boasts of home-made pastries, meat pies sold for N2,000 each.

    The festival, which had vendors trading in free stalls, was a celebration of Nigerian cuisine, with a diverse range of vendors offering traditional dishes and innovative fusion cuisine. From Jollof rice to plantain chips, the festival had something for every palate.

    The vibrant atmosphere was electric with attendees enjoying good food, drinks, and company. The smell of sizzling meat and spices filled the air, and the sound of laughter and chatter added to the festive atmosphere.

  • Ojulari: How NNPC’s energy security role is anchoring economic stability under Tinubu

    Ojulari: How NNPC’s energy security role is anchoring economic stability under Tinubu

    By Solomon Nnamdi

    In an economy where oil and gas revenues still play an outsized role in fiscal planning and foreign exchange earnings, the concept of energy security extends far beyond pipelines and production platforms. For Nigeria, energy security is inseparable from economic stability. Eight months into his tenure as Group Chief Executive Officer of NNPC Limited, Bayo Ojulari has increasingly framed the company’s mission in these broader terms—positioning NNPC not only as an energy producer, but as a custodian of national revenue flows.

    This framing has influenced how NNPC approaches diversification, profitability and operational discipline. Under Ojulari, energy security has become both a strategic objective and a risk-management tool, designed to protect earnings while Nigeria navigates a volatile global environment.

    From barrels to balance sheets

    Historically, discussions about energy security in Nigeria focused on production volumes—how many barrels were pumped or exported. Under Ojulari’s leadership, the conversation has evolved to include reliability, predictability and revenue integrity.

    This shift reflects the lessons of recent years, when high global oil prices failed to translate into fiscal relief due to theft, operational disruptions and inefficiencies. By the time Ojulari assumed office, measures to address these gaps were already underway. His role has been to consolidate them and embed revenue protection into

    NNPC’s commercial strategy

    The result has been a more direct link between operational outcomes and financial performance, reinforcing NNPC’s accountability as a commercial entity.

    Securing the value chain

    Revenue protection under Ojulari extends across the entire value chain—from production and evacuation to sales and remittance. The restoration of near-100 per cent availability on major crude pipelines has been central to this effort, ensuring that produced barrels are reliably delivered to export terminals.

    But Ojulari’s approach goes further. By strengthening internal controls, improving reporting discipline and aligning subsidiaries around clear performance metrics, NNPC has reduced leakage not only in physical terms, but also in financial processes.

    Monthly financial disclosures, sustained under Ojulari’s leadership, play a critical role in this framework. They provide early warning signals for underperformance and enable timely corrective action—an essential capability in a revenue-dependent economy.

    Energy security as investor assurance

    For investors, energy security is synonymous with certainty. Projects require confidence that production will not be disrupted, contracts will be honoured and revenues will be realised.

    Under Ojulari, NNPC has worked to reinforce this confidence through a combination of operational stability and transparent communication. By maintaining consistent engagement with Joint Venture and Production Sharing Contract partners, the company has signalled that Nigeria is serious about protecting investments.

    This assurance has tangible benefits. Improved security conditions and clearer governance have encouraged renewed capital inflows into upstream and midstream projects, supporting production growth and diversification.

    Diversification as risk mitigation

    Ojulari’s emphasis on diversification is closely tied to revenue protection. By expanding NNPC’s portfolio into gas infrastructure, downstream services and regional energy projects, the company reduces its exposure to any single revenue stream.

    Read Also: Banditry will be defeated in 2026, Akpabio assures Nigerians

    Gas, in particular, offers longer-term contracts and domestic utilisation opportunities that can stabilise earnings. Downstream infrastructure services provide fee-based income less sensitive to commodity price swings. Regional projects create new markets and geopolitical leverage.

    Together, these elements form a diversified revenue base that strengthens energy security in financial terms.

    Supporting national fiscal planning

    NNPC’s improved revenue performance has had direct implications for national fiscal planning. With stronger remittances and clearer reporting, government authorities can plan budgets with greater confidence.

    Between January and April 2025 alone, NNPC remitted trillions of naira to the federation, reflecting both improved production reliability and enhanced revenue capture. For an economy facing multiple pressures, this predictability is invaluable.

    Ojulari has consistently emphasised collaboration with fiscal authorities, recognising that NNPC’s performance is intertwined with broader economic management.

    Foreign exchange stability

    Energy security also underpins Nigeria’s foreign exchange position. Reliable crude exports and gas revenues support forex inflows, helping to stabilise the currency and finance imports.

    By consolidating gains against theft and operational disruptions, Ojulari’s leadership has contributed indirectly to forex stability. While global factors continue to influence currency dynamics, the physical delivery of energy exports remains a critical variable.

    In this context, revenue protection is not an abstract corporate goal, but a macroeconomic necessity.

    Balancing commercial and national roles

    As a commercial entity wholly owned by the Federal Government, NNPC occupies a unique space. It must balance profit maximisation with national responsibilities—a tension Ojulari has navigated through clarity of roles.

    By framing energy security as aligned with commercial success, he has reduced this tension. Protecting revenue flows benefits both NNPC’s balance sheet and the national treasury, creating a shared incentive structure.

    This alignment has helped streamline decision-making and reduce conflict between corporate and public objectives.

    Learning from the past

    Nigeria’s history offers sobering lessons about the cost of neglecting energy security. Periods of high production and prices have often been undermined by inefficiencies, leakages and governance gaps.

    Ojulari’s leadership reflects an awareness of these lessons. By focusing on consolidation rather than reinvention, he has sought to ensure that recent gains are not squandered.

    A platform for long-term resilience

    Energy security is not a destination, but a continuous process. Threats evolve, markets shift and infrastructure ages.

    Eight months into his tenure, Bayo Ojulari has laid the groundwork for resilience by embedding revenue protection into NNPC’s operations and diversification strategy. His approach recognises that in a complex energy landscape, stability itself is a strategic asset.

    As Nigeria looks ahead to 2026 and beyond, NNPC’s ability to safeguard revenues will remain central to economic stability. Under Ojulari, that responsibility is being approached with discipline, continuity and a clear sense of national purpose.

  • Alpha Morgan Bank highlights forces shaping economy

    Alpha Morgan Bank highlights forces shaping economy

    By Afolabi Idowu

    Alpha Morgan Bank held another edition of the Alpha Morgan Economic Review, a signature thought leadership session that helps Nigerians understand the forces shaping the economy. The event featured economist Bismarck Rewane, who delivered a clear and balanced breakdown of current trends and what they mean for businesses and households.

    This edition explored movements in inflation, GDP expectations, currency trends, external reserves and the wider global pressures influencing Nigeria’s recovery path. Rewane presented these issues in a simple and practical way that helped participants understand both the risks ahead and the opportunities that support better planning.

    The Review drew a wide audience of business leaders, investors, policy watchers and young professionals who continue to trust the platform for honest analysis and useful guidance. Many attendees described the session as relevant, well-structured and helpful for decision making in a fast changing economic climate.

    Read Also: Examining revenue streams, profit sharing in Nigerian cinemas

    During the event, the MD and CEO of Alpha Morgan Bank announced that the next edition of the Alpha Morgan Economic Review will hold in February 2026, following the next MPC meeting. This forms part of the Bank’s plan to continue offering timely insight and expert commentary at key points in the economic calendar.

    The Alpha Morgan Economic Review remains one of the country’s respected economic knowledge platforms, and the Bank is committed to providing the public with clear information and conversations that build confidence.

  • Golden Terra Oil drives heart health conversation

    Golden Terra Oil drives heart health conversation

    Golden Terra Oil has earned a unique place in Nigerian kitchens, not only because of its pure, heart-friendly cooking oil but because of its unwavering commitment to consumer education.

    The brand simplifies complex nutritional concepts through health-and-wellness experts on topics like cholesterol balance, fat types, PUFA, Omega-3, Omega-6, and turns them into practical lessons that fit seamlessly into everyday life. One of the brand’s most consistent teachings is the importance of choosing oils that are rich in Polyunsaturated Fatty Acids (PUFA), which help to lower bad (LDL) cholesterol, reduce the risk of heart disease and stroke, and support brain and nerve function. These nutrients strengthen the heart you want to protect.

    According to Probal Bhattacharya, Chief Marketing Officer, TGI Group, “For Golden Terra, consumer education is central to our philosophy. Beyond producing heart-friendly cooking oil, we believe in enlightening our consumers, giving them clarity, science, and confidence to make better decisions for themselves and their families. True impact isn’t only what we put in the bottle; it is the wisdom we place in the hands of the people. That is how we Pour Pure Love into society.”

    Read Also: Examining revenue streams, profit sharing in Nigerian cinemas

    Through consistent online engagement, nutrition content, professional insights, and clear, science-backed explanations, Golden Terra Oil continues to lead a national wellness movement. The brand is reshaping how Nigerians think about heart health, oil choices, and the decisions they make every day in their kitchens. But more importantly, Golden Terra Oil is teaching families that every time they cook, they are making a choice, not just for taste, but for health, for love, and for long-term well-being.

    Golden Terra Soya Oil is a premium, all-purpose cooking oil made from 100% pure soya beans, sourced and manufactured in Nigeria. It contains 5x more PUFA (Polyunsaturated Fatty Acids) proven to deliver numerous health benefits, like reducing cholesterol, maintaining a healthier heart, enhancing nerve function, boosting brain health, and supporting muscle strength. Discerning consumers trust Golden Terra Soya Oil to bring an unmatched balance of Taste & Health to every dish cooked with it. Available in various sizes, including 1000ml pouch, 700ml and 1.4L bottles, and 3L, 5L, and 25L.

  • Firm unveils citizens’ scorecard for MDAs

    Firm unveils citizens’ scorecard for MDAs

    By Afolabi Idowu

    A Major highlight of the 2025 edition of the Consumers Value Awards (CVA) was the unveiling of the Citizens Scorecard (CSC)—a new framework reflecting citizens’ perceptions of key government institutions.

    The event held in Lagos, brought regulators, brand managers, and consumers to celebrate excellence.

    Speaking during the unveiling, Akonte Ekine, Chief Executive Officer of BrandXchange and Convener of the Consumers Value Awards, explained that the concept emerged organically during the nominations phase. “Consumers began listing government agencies alongside brands for consideration. This inspired us to examine the public sector closely and introduce a dedicated category,” he said.

    The Citizens Scorecard provides Nigerians with a unique opportunity to evaluate government agencies through their votes.

    It benchmarks institutions against one another, offering insight into how each contributes to the broader conversation around Brand Nigeria.

    Seven institutions made it to the inaugural nomination list: Federal Competition and Consumer Protection Commission (FCCPC), National Agency for Food and Drug Administration and Control (NAFDAC), National Orientation Agency (NOA), Public Complaints Commission (PCC), Nigerian Civil Aviation Authority (NCAA), Nigerian Electricity Regulatory Commission (NERC), Nigerian Communications Commission (NCC).

    In the highlights of the First Citizens Scorecard, NAFDAC emerged as Best Agency in Consumer Satisfaction and Engagement with 48% of nationwide votes, and Most Friendly Regulatory Agency with 56%, FCCPC was voted Best Complaint Resolution Agency with 47% of nationwide votes, NOA received an overwhelming 90% of citizens’ votes as the Most Engaging Government Agency, NCC ranked second in the Public Complaint Resolution category with 40% of citizen votes, NCAA, with a total of 6% across categories, was rated the lowest-performing agency in the maiden edition of the CSC.

    Read Also: Tinubu assures Nigerians of security gains, backs state policing

    Ekine noted that this is the first time in four years that government agencies have featured in the CVA voting categories. He stated that BrandXchange will continue to encourage citizens to participate annually in the nomination and voting processes as a form of structured feedback for public office holders and custodians of the nation’s sub-brands.

    This edition also marked another significant milestone with the introduction of a new standard CVA plaque: The Hand and the Cowry. This symbolic piece represents trust, integrity, and the enduring values shared between consumers and brands.

    The cowry shell—one of Africa’s earliest symbols of trade—reflects not only the history of exchange but also the cultural values and human connections that shape commerce. The Hand and the Cowry underscores CVA’s mission to recognise brands that prioritize genuine value, fairness, and respect for consumer voices. “Our goal is to promote a marketplace where trust and integrity thrive,” Ekine emphasised. “By celebrating brands and institutions that embody these principles, we empower consumers to make choices aligned with their values.”

    In addition to the launch of the Citizens Scorecard, the event also featured the dedication of the Sola Salako-Ajulo Award for Consumerism Reporting.

    Raheem Akingboku, the inaugural recipient, was honored with the Hand and the Cowry plaque for his contributions to consumer advocacy journalism.

  • ILO pledges support to FG’s social protection system

    ILO pledges support to FG’s social protection system

    The International Labour Organisation (ILO) has said it will continue to support the Federal Government’s social protection programmes. 

    The ILO Country Director for Nigeria, Ghana, Liberia and Sierra Leone, Dr Vanessa Phala gave the pledge in Abuja at a National Dialogue on Extending Social Protection Coverage to Informal Economy Workers organised by the Federal Ministry of Labour in collaboration with ILO.

    According to her, social protection remained a human right and an economic necessity.

    Phala, who was represented by Special Technical Advisor to the ILO, Mr Shailendra Kumar said social protection reduces poverty, exclusion and inequality while enhancing social cohesion.

    She noted that many informal workers were among the 85.2 per cent of Nigerians without adequate protection, adding that a comprehensive strategy was needed to overcome barriers to social security coverage.

    Phala said: “The ILO will continue supporting Nigeria’s efforts. Extending legal coverage and strengthening financing mechanisms are crucial for building a universal social protection system.”

    Minister of Labour and Employment, Dr Muhammad Dingyadi, said the government plans to provide social protections to over 60 million Nigerians working in the informal sector.

    Dingyadi said the government is partnering key social protection agencies to deploy mobile health insurance and micro-pension schemes targeting millions of workers in the informal sector.

    According to the minister, no fewer than 60 million Nigerians in markets, farms, transport clusters and workshops lacked basic protection.

    He restated the government commitment to closing the gap through technology-enabled systems.

    “Our goal is to extend social protection to all Nigerians, especially the most excluded,” he stressed..

    He listed ongoing initiatives to include the expansion of the National Health Insurance Authority and the Nigeria Social Insurance Trust Fund to cover informal workers through mobile platforms designed for easy and flexible access.

    The minister added that the micro pension plan driven by PENCOM and the National Bureau of Statistics would deepen pension inclusion.

    According to him, pilot projects of the plan with the ILO, UNICEF, and the World Bank are testing scalable community insurance models.

    Read Also: Tinubu assures Nigerians of security gains, backs state policing

    He urged participants to produce a national implementation framework.

    He urged that the dialogue must not end with communiqués that gather dust, but with clear targets, financing pathways and full stakeholder commitment.

    The Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro, said informal workers faced income instability, lack of insurance and exposure to economic shocks.

    The minister, who was represented by the Deputy Director in the ministry, Mr Peter Audu said the dialogue provided a platform to design practical solutions to the challenge.

    He said the ministry remained committed to the Renewed Hope Agenda, which prioritised poverty reduction and social inclusion.

    Doro assured that ongoing collaboration with states, development partners and civil society would strengthen coordination.

    He added that the dialogue would shape reforms towards a shock-responsive and inclusive protection system.

    The Director-General of the Nigeria Employers’ Consultative Association (NECA), Mr Adewale-Smatt Oyerinde, described the dialogue as timely and critical for extending protection to the nation’s vast informal workforce.

    Oyerinde, who was represented by Mr Thompson Akpabio of NECA’s Abuja Liaison Office, said NECA was ready to support the initiative.

    He added that working through existing associations could help extend safety nets without compromising standards or the quality of products targeted at informal workers.

  • Entrepreneur calls for policy review on textiles

    Entrepreneur calls for policy review on textiles

    Textiles and garment business owners have called for the review of policy in the industry, considering the struggles that have plagued the sector, like rampant smuggling, poor power infrastructure, high cost of doing business, lack of investment even with its potential for job creation.

    The Chief Executive Officer, CNDaniels couture, Nnamdi Daniel made this call at  the CNDaniels end of year party with the theme, “Canvas of Culture: Ancestors are watching, GLAM Trad”  in Abuja, stating that, there is need for the government to review the textile and garmenting sector.

    He said, “Currently, what the nation produces as textiles is not even enough to meet the needs of the people in the industry, we need this policy review because criminals from other countries like China are making more money more than what Nigerian garment owners are making, these people steal our products, take it abroad reprint and bring them back selling at cheaper rate, even though the quality is not close to what Nigerian is producing”.

    Read Also: Tinubu assures Nigerians of security gains, backs state policing

    Daniels who is out to promote the made in Nigeria products spoke about the couture partnership with the British Council coming up early part of 2026 and how the organisation will start with Abuja, Lagos and Port Harcourt then to other states of the federation, all in a bid to  promote the richness of the African culture and the consistent use of Nigerian fabric. “The show happening presently  is a mock show of what we intend doing during our partnership with the British council in the early part of 2026”, he said.

    “Our culture needs promotion through clothing, It is no longer news that today people are beginning to forget what our fabrics look like, what our cultural heritage is. We no longer have the fashion sense that is true to us. Our fashion has been westernised and this is not  good for us as Africans. The fashion on the show is Glam Trad because we want the models on the runway to wear what can be explained in the African way.

    The CEO added that even though most textiles remain comatose, there are still local textiles that give what is needed, like the manufacturers of Adire, akwete and other very local Nigerian products. These he said are proper Nigerian rich fabrics that are high in demand.

  • Nigeria’s trade surplus dips by 10 percent in Q3 2025- NBS

    Nigeria’s trade surplus dips by 10 percent in Q3 2025- NBS

    Nigeria’s trade surplus suffered a 10.36 percent decline in Q3/25, the latest foreign trade report for Q3 of 2025 released by the National Bureau of Statistics (NBS) has shown.

    According to the report, the figure declined from N7.4 trillion recorded in the preceding quarter to N6.69 trillion in the third quarter (Q3) of 2025.

    The figure indicates a decrease of 10.36 percent.

    A trade surplus occurs when a country’s exports exceed imports.

    The NBS, in the report disclosed that Nigeria’s exports totalled N22.81 trillion while imports stood at N16.12 trillion.

    The bureau said total trade was N38.93 trillion in the period examined.

    “Nigeria’s total merchandise trade stood at ₦38,936.55 billion in Q3, 2025. This represents an increase of 8.71% over the value; ₦35,818.35 billion recorded in the corresponding period of 2024 and an increase by 2.36% compared to the value recorded in the preceding quarter (₦38,037.52 billion),” the NBS said.

    “In the quarter under review, exports accounted for 58.59% of total trade with a value of ₦22,813.57 billion, showing an increase of 11.08% over the value recorded in the corresponding quarter of 2024 (₦20,537.17 billion) and by 0.28% compared to the value recorded in Q2, 2025 (₦22,750.74 billion).”

    The NBS said crude oil remained Nigeria’s major exported commodity in Q3 of 2025 with a value of N12.8 trillion, representing 56.14 percent of total exports.

    The report said the value of non-crude oil exports stood at N10 trillion, accounting for 43.86 percent of total exports — with non-oil products contributing N2.99 trillion or 13.14 percent of total exports.

    “Using the Standard International Trade Classification, the top-ranked group imports were “mineral fuels” with ₦5,154.78 billion representing 31.97% of total imports, this was followed by “machinery and transport equipment” with ₦4,250.48 billion or 26.36% of total imports and “Chemicals & related products” with ₦2,347.07 billion (14.56% of total imports),” the bureau said.

    Read Also: Shallow religious knowledge responsible for violent extremism in Nigeria –East London Mosque Imam

    The NBS said India was Nigeria’s top export destination in Q3, followed by Spain, France, the Netherlands and Italy.

    The report said the five countries collectively accounted for 38.34 percent of the value of total exports in Q3.

    “During the quarter under review, the main export destination was India with a value of ₦2,259.05 billion or 9.90% of total exports, followed by exports to Spain with ₦1,829.71 billion or 8.02% of total exports, France with ₦1,659.12 billion or 7.27% of total export,” the report said.

    “The Netherlands with ₦1,542.82 billion or 6.76% of total exports, and exports to Italy with goods valued at ₦1,455.24 billion representing 6.38% of total exports.”

    The data bureau said China was a top partner in terms of imports.

    China’s trade was valued at N4.78 trillion, representing 29.68 percent of total imports.

    “This was followed by imports from the United States of America with ₦3,218.67 billion representing 19.96% of total imports, India with imports valued at ₦1,378.21 billion or 8.55% of total imports,” the bureau said.

    The report added that imports from the United Arab Emirates reached N790.66 billion (4.90 percent of total imports), while goods from Belgium were valued at N690.22 billion (4.28 percent of total imports).