The Nation Newspaper

Category: Discourse

  • Bridging the gaps in budget implementation

    Bridging the gaps in budget implementation

    By Tunde Rahman

    To state that there are gaps in the implementation of the 2024 and 2025 budgets is actually stating the obvious. One does not need to be an economist or an expert in fiscal matters to know this. Top government functionaries charged with budgetary matters have all made the point and confirmed that the budgets were not fully funded for apparent reasons. This admission reflects an attribute typically rare in government – transparency.

    In August, at a stakeholders’ engagement on the implementation of the 2025 capital budget and related issues in Abuja, Dr. Tanimu Yakubu, the Director-General of the Budget Office of the Federation, pointed out that the Federal Government was funding the capital component of the 2024 budget using revenue accruing under the 2025 Budget. He also noted that the 2025 revenue projections in the budget had been underperforming because the country had not met the oil production quota.

    Questions, therefore, arose in some quarters about the level of budget implementation. President Bola Tinubu’s announcement in August that the administration had met its 2025 non-oil revenue target even triggered more questions.  What then was the issue regarding budget implementation?

    It must be noted, however, that there are additional revenue sources for funding budgets beyond Internally-Generated Revenue. These include funding by development partners and foreign and domestic loans. If the IGR performs and there are gaps in other revenue sources, there could also be limitations in budget implementation. In that seemingly innocuous statement, President Tinubu was referring to the non-oil revenue component of the budget for the year.

    Following the below-par performance of the 2024 Budget, the National Assembly approved the rollover of the budget into 2025. The parliament later also approved the rollover of 70 percent of the 2025 capital projects into 2026.  Given this background of poor budget execution, some had suggested a holistic review of the budgeting process to upend the cycle of rollovers and non-implementation. Dr Muda Yusuf, the CEO of the Centre for the Promotion of Private Enterprises, among others, proposed that rather than discard projects that were approved but not implemented, it would be more prudent to consolidate outstanding projects, clear the accumulated backlog and re-present them within a more coherent and credible framework.

    Two weeks ago, President Tinubu moved decisively to address the implementation problems associated with the 2024 and 2025 budgets by using the practical template of the 2026 budget. Presenting the N58.18 trillion 2026 budget proposals to the National Assembly on Thursday, December 18, 2025, the President declared an end to budget rollovers and multiple budgets. Despite the challenges, the 2026 budget aligns well with the December-January budget cycle.

    Aptly titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” this new budget is essentially anchored on fiscal planning, discipline, resilience and sustainable development in line with the Renewed Hope Agenda. With the budget, President Tinubu plans to consolidate macroeconomic stability, improve the business and investment environment, promote job‑rich growth, reduce poverty and strengthen human capital development, while protecting the vulnerable.

    But rather than appreciate the government’s challenge, the courage demonstrated in accepting the fact of poor implementation of the budget and the firm resolve to correct the anomaly, the opposition African Democratic Congress took the notoriously mischievous route to upbraid President Tinubu. The party described the new budget and the government’s remedial plans as “a copy and paste” of previous years’ spending plans. The party’s interim National Publicity Secretary, Bolaji Abdullahi, said ADC’s economists reviewed the budget, claiming that “it reflects fiscal recklessness and unrealistic projections.” Propagating a doomsday theory, ADC opined that, like its predecessors, the 2026 Budget would end up as another unimplemented document.

    It is fair to argue that the 2025 budget faced the challenge of transition and competing execution demands. But presenting the 2026 Budget to the lawmakers, President Tinubu assured that the budgetary situation would be different this time. The President said: “As of Q3 2025, we recorded: 18.6 trillion naira in revenue — representing 61% of our target; and 24.66 trillion naira in expenditure — representing 60% of our target.

    “Let me be clear: 2026 will be a year of stronger discipline in budget execution. I have issued directives to the Honourable Minister of Finance and Coordinating Minister of the Economy, the Honourable Minister of Budget and Economic Planning, the Accountant‑General of the Federation, and the Director‑General of the Budget Office of the Federation to ensure that the 2026 Budget is implemented strictly in line with the appropriated details and timelines.

    “We expect improved revenue performance through the new National Tax Acts and the ongoing reforms in the oil and gas sector — reforms designed not merely to raise revenue, but to drive transparency, efficiency, fairness, and long‑term value in our fiscal architecture,” he added.

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    President Tinubu recognises the importance of fiscal guardrails, as evidenced by his clear directive to Government‑owned Enterprises and to the heads of all agencies to meet their assigned revenue targets.

    To support this, he said:  “An end‑to‑end digitisation of revenue mobilisation — standardised e‑collections, interoperable payment rails, automated reconciliation, data‑driven risk profiling, and real‑time performance dashboards — will be deployed so that leakages are sealed, compliance is verifiable, and remittances are prompt.”

    These targets, President Tinubu noted, will form core components of performance evaluations and institutional scorecards. “Nigeria can no longer afford leakages, inefficiencies, or underperformance in strategic agencies. Every institution must play its part.  In short: we will spend with purpose, manage debt with discipline, and pursue broad-based, sustainable growth.”

    These are grand plans and clear directives from President Tinubu. The National Assembly, too, has a vital role to play in ensuring the successful implementation of the 2026 budget. Many of the unimplemented projects in the 2025 Budget, for instance, were constituency projects, the brunt of which was borne by lawmakers who tended to allocate the jobs even when the projects had not been cash-backed. Beyond approving the 2026 appropriation, therefore, the lawmakers must show greater restraint and prudence in handling their constituency projects.

    The 2026 budget has other notable aspects. One, it re-presents a defining moment in the national journey of reform and transformation. The 2026 Budget, as President Tinubu said, “reflects the government’s determination to lock in macroeconomic stability, deepen competitiveness, and ensure that growth translates into decent jobs, rising incomes, and a better quality of life for every Nigerian.”

    Two, in line with the Renewed Hope Agenda and the practical needs of Nigerians, the budget prioritises five critical sectors: defence and security – N5.41 trillion; infrastructure – N3.56 trillion; education – N3.52 trillion; and health – N2.48 trillion. As the President rightly said, these priorities are interlinked: “Without security, investment will not thrive. Without educated and healthy citizens, productivity will not rise. Without infrastructure, jobs and enterprises will not scale.”

    To all intents and purposes, the government has drawn appropriate lessons from the drawbacks of the 2024 and 2025 budgets. That is why the 2026 Budget is guided by three basic principles: better revenue mobilisation, better spending by prioritising projects, and better accountability through strengthened procurement discipline, monitoring, and reporting. There is a strong optimism that it will yield outcomes that benefit all, which hopefully the perennial cynics would acknowledge.

    •Rahman is Senior Special Assistant to the President on Media & Special Duties.

  • Global player: Assessing Nigeria’s foreign policy in the last one year

    Global player: Assessing Nigeria’s foreign policy in the last one year

    By Linda Nwabuwa Akhigbe

    2025 left the world in a state of flux and Nigeria has sought to stay on top of the tide. Nigeria played big, balancing National interests with global realities. President Tinubu kept a close tab on the currency of international developments.

    Indeed, Global power centres shifted in very significant ways as bold new alliances overtly challenged America’s dominance. We witnessed America’s unprecedented trade wars with China, Canada, the EU, Brazil, India, South Korea, Japan, Mexico, Vietnam, Malaysia and even Great Britain.

    The Trumpian world order took center stage.  The tragedy of USAID and other tariff threats have impacted 161 countries, Nigeria inclusive even as more comprehensive economic sanctions against the governments of Cuba, Iran, North Korea, and Russia are underway. South Africa was accused of alleged white genocide and on October 31st, the United States designated Nigeria as a Country of Particular Concern, CPC, for allegedly engaging in a “systematic, ongoing, and egregious violations of religious freedom.”

    It is important to remember that towards the end of his first term in 2020, President Trump had placed Nigeria on the CPC list. Shortly after President Joe Biden took over, he removed the country from the list, for no apparent reason. There had been no change in the affairs of Nigeria. These seemingly arbitrary moves strengthened the notion that these American labels are sometimes placed on a whimsy, on specious grounds. Unfortunately, this time around, the label was backed with fierce rhetoric and the explicit threat of “guns blazing” interventions against perpetrators of the so called Christians genocide.

    In the circumstances, with Nigeria already strained by gratuitous violence, America’s threats generated heat and exacerbated tensions. The government of President Tinubu rallied and rose to the challenge. In response anchored on evidenced-based diplomacy, the government demonstrated how its domestic policies and security reforms were improving the nation’s security architecture. More importantly, it reaffirmed the inviolability of religious freedom in Nigeria, and established the following facts: that terrorism had impacted the lives of both Muslims and Christians alike; that our enemies are criminals whose goals are materialistic, driven by greed and acquisitiveness, not some sacred plot for religious hegemony; and, that what Nigeria needs is the cooperation and understanding of allies, not threats and grandstanding.

    In November 2025, the government’s team, led by the National Security Adviser, Nuhu Ribadu, met with high ranking American officials in Washington, including Peter Hegseth, US Secretary of War, Riley M. Moore, the congressman who was vociferous about the alleged persecution of Christians, and senior officials across key departments. Moore was later to describe the meeting as “frank, honest and productive.” Following that meeting, a high ranking congressional delegation arrived from the United States to further engage with the Ribadu team, leading to the formation of a Joint Working Group on Security to formalise intelligence sharing and coordinate security efforts. In the end, the United States government understood the complexity of the conflict as Moore noted, “concrete steps and actions were discussed at length which if fully executed will enhance security across the country and disrupt terrorists organizations in the northeast.”

    On December 26 2025, the Nigerian government confirmed that the bombing of terror camps in Sokoto State the previous day by the United States was the result of a “structured security cooperation” between Nigeria and the United States and not a unilateral American gambit. US Secretary of War, Pete Hegseth, said his country was, “grateful for Nigerian government support and cooperation.”

    It is crucial to keep in view that the Trump administration has been goading Nigeria since his return to power through a form of coercive diplomacy. For instance, on July 8, 2025, despite an existing visa reciprocity policy of five-year multi-entry visas, the US suddenly announced a single entry pattern of 3 months only. In the end, it appeared to be part of a ploy to apply pressure on Nigeria to accept asylum seekers and prisoners from Venezuela, a ploy that seemed to have worked with Rwanda, Gabon, Guinea Bissau, Liberia, Mauritania, Ghana, and Senegal. In America’s current brand of transactional diplomacy, everything appears to always boil down to economics.

    Against this backdrop, President Tinubu’s administration had to define its foreign policy agenda. Throughout 2025, Nigeria operationalised its 4-D foreign policy doctrine—Democracy, Development, Demography, and Diaspora. The framework provided coherence across engagements, ensuring that diplomacy delivered tangible outcomes in trade, investment, governance support, youth opportunities, and diaspora protection. The key goals remain the repositioning of Nigeria as a global force and leader of Africa, enhancing national security and economic prosperity.

    ECOWAS and Regional Diplomacy

    President Tinubu’s foremost foreign policy objective has always been to assert Nigeria’s influence in Africa by promoting democratic values. At his inauguration, he did not mince words. “My primary foreign policy objective must be peace and stability of the West African subregion and the African continent. We shall work with ECOWAS, the AU and willing partners in the international community to end extant conflicts and to resolve new ones. As we contain threats to peace, we shall also retool our foreign policy to more actively lead the regional and continental quest for collective prosperity.”

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    This is a clear policy statement, ambitious and bold but also reiterating the foundational position that Africa shall remain the cornerstone of our foreign policy. Barely three months after that speech, he was unanimously elected as Chairman of the Authority of Heads of State and Government of ECOWAS  and placed on an international pedestal. This came at a time when the region was overrun by coups and the Niger coup became a litmus test, following Guinea, Burkina Faso and Mali. President Tinubu led a groundswell of opposition against the coup, leading ECOWAS to impose its most stringent sanctions. Indeed, the President has always emphasised that he has no animus against the people of Niger however, he would not countenance any attempt to subvert a duly elected government in the region.

    On December 7, 2025, such an attempt was made in the Republic of Benin by soldiers led by Lt. Col. Pascal Tigri, who seized the state radio and announced the removal of President Patrice Talon. On request, President Tinubu sent in the Nigerian Super Tucano light attack aircraft which conducted precision strikes on rebel positions, dislodging them and forcing them to flee. The coup was squashed, within hours, in what is believed to be the most definitive stance against an unconstitutional power grab since 2017.

    In 2025, Nigeria has proven to be the key driver of AFCFTA, committing to zero duties on 90% of all goods, expanding market access and boosting regional trade. Nigeria continues to take the lead in regional integration, enforcing the rule of law, and removing unconscionable barriers to trade.

    Economic Diplomacy: Renewable Energy, Oil, Gas and Climate Change

    A major pillar of the President Tinubu’s administration’s foreign policy is to leverage international engagements in a manner that advances foreign investments in critical sectors of Nigeria’s economy.

    Foreign trips have so far proved successful, and brought in about $50 billion in Foreign Direct Investment from China, India, Brazil, UK, France, Qatar, Cuba, UAE, Kuwait and Saudi Arabia. This has strengthened portfolio investments in non oil sectors and advanced the nation’s diversification drive.

    Restructuring, retooling and resourcing the Ministry of Foreign Affairs and its missions abroad are extremely important in this regard including the resuscitation of comatose Joint Commissions and Bi-National Commissions between Nigeria and many countries in the world.

    In its ambitious drive to become Africa’s renewable energy hub, the administration’s energy transition roadmap plans to unlock about $410 billion in investment opportunities by 2060. In October 2025, it secured some $400m in commitments for local renewable energy manufacturing, including solar panel assembly and battery storage. Nigeria was recently confirmed as the headquarters for the African Energy Bank, which hopes to centralize funding for energy projects across the continent. President Tinubu’s visit to Tanzania and the UAE Sustainability Week resulted in partnerships for off-grid solar power projects to improve electricity access in rural Nigerian communities.

    Oil and gas remains Nigeria’s biggest revenue source, accounting for the vast majority of its foreign exchange earnings, although the contribution of the non oil sector to GDP continues to rise exponentially. In 2025, the Nigeria Upstream Petroleum Regulatory Commission estimates that reforms have unlocked $18 billion in total investment commitments to the sector. In October, Shell reached a Final Investment Decision for a $2 billion gas project in an offshore field expected to provide 350 million standard cubic feet of gas daily beginning 2028. Indeed, the surge in investments in the sector, including $5 billion in major gas projects secured recently, have been attributed to the president’s new fiscal incentives.

    Non Oil Sectors: Agriculture, Air Transport and Technical Support

    President Tinubu’s reforms have redefined Nigeria’s diplomacy and earned the nation global recognition. His engagements have not only strengthened bilateral and multilateral relations but secured international funding for a range of projects and technical support in agriculture, transportation and other fields.

    In June 2025, the president secured a $1 billion dollar deal with Brazil for the supply of mechanized farming tools, the establishment of service centres, and the training of Nigerian youths in modern agriculture practices. There are other investments from Belarus, India and Qatar, and a Singaporean agribusiness company is poised to spend $70 million in the Nigerian palm oil sector.

    The President is also keen on developing the aviation sector as a key driver of national growth. A Bilateral Air Services Agreement was updated with Brazil, paving the way for direct flights between Lagos and São Paulo, reducing time and cost for passengers who previously had to route their flights through Europe or the Middle East. Similarly, Airpeace now offers direct flights to Gatwick and Heathrow, advancing international connectivity.

    Security and Counterterrorism

    Nigeria’s security forces are battling a convergence of threats as insurgents, terrorists, criminals, separatists and other non state actors are increasingly interlinked through arms trafficking and economic networks. President Tinubu’s war against terror however goes beyond Nigeria to embrace the safety of the region. The Sahel and other parts of Africa face complex interconnected threats including violent conflicts, climate change repercussions and deeply entrenched governance and socioeconomic challenges.

    In October 2025, President Tinubu was in Italy for the Aqaba Process Heads of State and Government Meeting, a counterterrorism initiative launched by King Abdullah II of Jordan ten years ago. The Rome meeting focused on strengthening regional and international collaboration in the fight against terrorism and extremism with particular interest to West Africa.

    On the sidelines of the event, President Tinubu held bilateral meetings with Italian Prime Minister Giorgia Meloni and President Trump’s Senior Adviser on Arab and African Affairs, Massad Boulos. He also met with Vatican Secretary of State, Cardinal Pietro Parolin, to address the widespread disinformation campaigns portraying Nigeria as intolerant of religious diversity.

    Clearly, this year has given Nigeria much global visibility as the Tinubu administration continues to advance a foreign policy rooted in strategic autonomy rather than coercive diplomacy. As global power structures continue to shift and realign, Nigeria is fully determined to cooperate with like minded countries open to our national interests, peace and shared prosperity.

    Linda Nwabuwa Akhigbe is the Senior Special Assistant to the President on Strategic Communications

  • Need for regulation against trademark monopolies

    Need for regulation against trademark monopolies

    By Chukwuma Onyewonsa

    I want to ask every entrepreneur this: If you build the best, fastest, most reliable business, the fastest delivery, the cleanest laundry, the coldest drinks, should you be legally silenced from telling customers the truth? That is not a rhetorical question. It lies at the centre of the “Fastest Cakes” trademark saga, and it exposes a legal and regulatory blindspot that threatens every small, speed-dependent business in Nigeria.

    The recent attempt to hoard a phrase as ordinary as “Fastest Cakes” is not a triumph of branding. It is a linguistic enclosure: an attempt to make the dictionary private property. In practical terms, it is a weapon — a legal cudgel that can be used to intimidate, silence and raise cost of competing for small businesses that want to tell customers what they do best.

    This shouldn’t be a linguistic moat

    Trademark law exists to prevent consumer confusion: to make sure shoppers know who made the product they are buying. It was never designed to convert everyday description into exclusive legal property. The law itself draws that line clearly.

    Consider the Trade Marks Act’s requirements for registrability. It states what a registrable mark must be:

    “In order for a trade mark (other than a certification trade mark) to be registrable in Part A of the register it must contain or consist of at least one of the following essential particulars:

     (a) the name of a company, individual, or firm, represented in a special or particular manner;

     (b) the signature of the applicant for registration or some predecessor in his business;

     (c) an invented word or invented words;

     (d) a word or words having no direct reference to the character or quality of the goods, and not being according to its ordinary signification a geographical name or a surname;

     (e) any other distinctive mark: Provided that a name, signature or word or words other than such as fall within paragraphs (a) to (d) of this section, shall not be registrable under paragraph (e) of this section, except upon evidence of its distinctiveness.” — Trade Marks Act, Section 9 (1–2).

    Put simply: the law expects a trademark to be distinctive — a sign that identifies origin, not a plain description of the goods or service. Where the mark is merely descriptive, the Act requires evidence that it has acquired distinctiveness before it can be monopolised. That legal test matters because, without it, a firm could patent words the public needs to use — “fastest”, “freshest”, “best” — and use the courts to exclude rivals from truthful descriptions of their services.

    The Act goes further to protect honest advertising. It recognises that registration should not interfere with truthful commercial speech:

    “The registration of a trade mark shall not interfere with:

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     (a) any bona fide use by a person of his own name or the name of his place of business, or …

     (b) the use by any person of any bona fide description of the character or quality of his goods …” Trade Marks Act, Section 8. WIPO

    That is the law’s commonsense backstop: you cannot be stopped from using honest descriptions of the quality or character of what you sell.

    Constitutional gravity: the right to tell the truth about your service

    This is not only a matter of statutory technicality. At the highest level, the Constitution protects the freedom to impart information — a protection that extends to truthful commercial speech. Section 39 of the 1999 Constitution provides:

    “Every person shall be entitled to freedom of expression, including freedom to hold opinions and to receive and impart ideas and information without interference.” — Section 39(1), Constitution of the Federal Republic of Nigeria, 1999. Nigeria Rights

    That protection is foundational. When a baker, rider, or logistics firm tells customers they are “fastest,” they are exercising the freedom to impart information protected by the Constitution. Turning ordinary descriptive language into an exclusive monopoly chills that freedom and constrains the marketplace of ideas and services.

    Yes, constitutional rights are not absolute; the law allows lawful restrictions. But locking down the common words of trade, the language businesses need to communicate competence — cannot reasonably be framed as a justifiable restriction in a democratic society. It is a private advantage dressed up as legal formality.

    What matters for SMEs & economy

    It would be easy to reduce the problem to a single bad trademark application. The truth is more structural: when registries allow descriptive marks to slip through, they hand the first filer a potential instrument of market exclusion.

    For thousands of Nigerian SMEs that compete on speed, food delivery outfits, courier services, event caterers, laundry services, beverage distributors — the ability to say what they do is not puffery; it is the core of their marketing. When the registry gives one firm exclusive rights over the term “fastest” paired with a product, it creates a regulatory gatekeeper that can be used selectively to block rivals or extract settlements.

    Imagine the legal costs for a small baker served with a cease-and-desist for using “fastest” in an online ad while they invest in a motorbike and a training regime to improve delivery times. The cost of defending a simple truth becomes prohibitive. That is not competition but linguistic gatekeeping — a non-tariff barrier to entry.

    Why regulators must act now

    This is not merely academic. The Registrar of Trade Marks and Corporate Affairs Commission are custodians of a legal regime meant to balance private rights with public interest. The Trade Marks Act itself frames registrability to prevent exactly this outcome. Regulators must therefore:

    Apply Section 9 strictly: refuse registrations that are plainly descriptive unless the applicant adduces clear evidence of acquired distinctiveness. The law demands nothing less.

    Uphold Section 8 protections: explicitly affirm that bona fide descriptions remain available to the trade, and publicise this guidance so SMEs are not intimidated by vague threats. WIPO

    Issue a clarifying advisory to the business community: regulatory silence fuels abuse. A short, public statement explaining the boundaries of registrability will deter opportunistic filings and reassure honest traders.

    Streamline opposition pathways: make it simpler and cheaper for groups of SMEs to challenge descriptive registrations, because the current opposition process is costly and slow.

    If regula tors fail to act, courts will eventually do the work — but only after costly litigation. It is far better for the public interest that the registry use the clear statutory standards it already has to refuse monopolies over necessary commercial language.

    The bottom line

    The fastest way to build a robust, competitive economy is to ensure every business is free to describe its service. Let the best service win. But no business should be empowered to silence rivals simply by claiming exclusive ownership of ordinary words.

    Cancel this generic trademark. Reaffirm that description belongs to the market, not the courtroom. Let fair competition flourish, and let entrepreneurs speak plainly to customers.



  • Innovation: Engine of Africa’s digital economy

    Innovation: Engine of Africa’s digital economy

    • By Akeem Lawal

    Today, Africa stands at a defining moment in its digital evolution. Across the continent, technology continues to reshape how individuals transact, how businesses grow, and how governments deliver essential services, even as digital transformation is creating new pathways for inclusion and prosperity.

    Yet, as the continent’s digital economy expands, with projections to exceed $712 billion by 2050 (according to the International Finance Corporation), its growth will depend not only on innovation but equally on collaboration and compliance. These three pillars form the foundation of Africa’s united digital frontier.

    Over the past decade, Africa has witnessed a remarkable acceleration in technological advancement. Fintechs have democratised access to financial services for millions who were once excluded from formal systems.

    According to the Global System for Mobile Communications Association (GSMA), Africa accounts for nearly 70 per cent of the world’s $1.3 trillion mobile money value, underscoring the continent’s capacity to leapfrog traditional barriers through innovation.

    Interswitch, as a pioneer in the African payments ecosystem, has been privileged to play a pivotal role in this transformation, building the infrastructure that enables seamless, secure, and interoperable digital transactions. Yet, innovation must now go beyond solving access problems; it must create sustainable ecosystems that power scale, interoperability, and cross-border efficiency.

    Artificial intelligence, blockchain, and data analytics are no longer futuristic tools, they are the next growth drivers that are defining how African economies compete globally. But for these innovations to reach their full potential, they must be anchored in collaborative frameworks that amplify their impact across sectors and geographies.

    Collaboration: new competitive advantage

    In today’s economy, no single player, no matter how innovative, can succeed in isolation. Collaboration has become the new competitive advantage. The intersection of banks, fintechs, and other financial institutions represents an opportunity to build an inclusive, scalable, and resilient ecosystem that benefits everyone.

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    Across the continent, partnerships between traditional financial institutions and technology innovators are already delivering tangible value, expanding financial access, enhancing efficiency, and improving user experience. However, true collaboration goes beyond partnerships of convenience; it requires shared purpose, mutual trust, and aligned vision.

    This is precisely the spirit driving initiatives such as Interswitch’s TechConnect series, a platform that brings together stakeholders across the financial ecosystem to explore how technology, innovation, and strategic collaboration can unlock Africa’s next phase of growth. By fostering dialogue and shared problem-solving, we are not just connecting ideas; we are connecting frontiers.

    Compliance: Bedrock of sustainable growth

    Innovation without structure can be chaotic, while collaboration without trust can be fragile. This is where compliance becomes indispensable. A thriving digital economy must rest on a foundation of robust governance, data protection, cybersecurity, and regulatory alignment.

    Africa’s financial regulators have made significant strides in providing enabling frameworks for innovation – sandbox models, open banking guidelines, and digital identification systems are key examples. These initiatives are helping to create the clarity and confidence that both innovators and investors need to scale responsibly.

    For players like Interswitch, compliance is not a box-ticking exercise; it is a strategic imperative.

    Our commitment to global security standards such as PCI DSS and ISO certifications reflects our belief that trust and transparency are the currency of the digital age. By embedding compliance into innovation, we create systems that are not only scalable but also sustainable.

    A united frontier for inclusive growth

    Africa’s digital future cannot be built in silos. It requires the collective effort of governments, private sector players, development institutions, and innovators working in unison.

    As we push toward regional integration through frameworks like the African Continental Free Trade Area (AfCFTA), the importance of interoperable payment systems and regulatory harmonisation becomes even more critical.

    Imagine a continent where a merchant in Kigali seamlessly receives payments from a customer in Lagos, where data flows securely across borders, and where regulatory environments enable innovation rather than constrain it. This is the united frontier we must build, a frontier defined not by borders, but by bridges.

    At Interswitch, we believe Africa’s next growth phase will be powered by innovation that includes collaboration that empowers and compliance that sustains.

    The path forward demands not competition, but convergence. And as we unite these frontiers, we unlock not just the next chapter of Africa’s digital story but its destiny as a global leader in technology-driven growth.

    •Lawal is Managing Director, Payment Processing & Switching, Interswitch Purepay

  • Why is opposition afraid of tax reforms?

    Why is opposition afraid of tax reforms?

    By Bode Opeseitan

    As they filed into the press hall at Shehu Musa Yar’Adua Centre, the desperation was not just audible, it was visible. 

    From the African Democratic Congress (ADC) to members of the Peoples Democratic Party (PDP) and Labour Party (LP) like Solomon Dalung, Kenneth Okonkwo and Chille Igbawua, who spoke for the group tagged Nigeria Opposition Movement, the gathering looked less like a united front and more like a wounded chorus.

     They were joined by others like activist Aisha Yesufu. 

    Their demand? That the federal government suspend the new tax laws set to take effect in January 2026. Their claim? That the reforms are exploitative. Their vow? Lawful resistance. Their appeal? That Nigerians join their petition against what they called a harmful policy.

     But harmful to whom?

    In a democracy where opposition voices have thinned to the point of near extinction, any moment of protest deserves scrutiny. Especially when it masquerades as concern for the masses but smells unmistakably of political mischief.

    Unlike the backdoor decrees of the past, this tax reform journey was one of the most consultative in Nigeria’s legislative history. Town hall meetings were held across all six geo-political zones. The policy was debated with the Governors’ Forum, Labour Congress, Manufacturers Association, and civil society. Media interviews were granted. National Assembly hearings were attended. Compromises were reached. The National Assembly passed the bills. The President signed them into law. Implementation was deferred until January 2026 to allow for public awareness and institutional readiness.

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    This is not how a government hides a harmful policy. This is how a responsible state builds consensus.

    Now to the substance. The 2026 tax reforms are not a punitive ambush but a structural correction. They exempt individuals earning below N800,000 annually from personal income tax. They shield small businesses with turnover below N100 million from Company Income Tax, VAT, and the new Development Levy. They consolidate four separate levies such as TETFund, NITDA, NASENI, and the Police Trust Fund into a single 4% Development Levy, making compliance simpler and more transparent. They introduce a 15% minimum tax on multinationals, aligning Nigeria with global standards and ending the era of corporate freeloading. And they modernize tax administration through a new Nigeria Revenue Service, digitizing processes and reducing corruption.

    The reforms are not just about revenue, they are about fairness. They are about shifting the burden from the poor to those who can afford to pay. They are about ending the chaos of multiple taxation and replacing it with clarity. They are about funding education, healthcare, and infrastructure not through loans and handouts, but through a fair, long-term agreement where citizens and businesses contribute their share via taxes, and the government delivers public goods transparently and efficiently.

    So why the outrage?

    The opposition says the reforms ignore ASUU and doctors’ strikes. But tax reform is not a labor negotiation, it is the foundation for funding those very sectors. They say the policy is harmful. But the facts show it protects the poor, empowers SMEs, and targets the top end of the economy. 

    They claim to speak for the people. But where were they when the Lagos-Calabar Coastal Road was ridiculed, by the same opposition, only to become a national marvel in the making? Where were they when the student loan scheme was dismissed, only to become a lifeline for over 788,947 Nigerian students through NELFUND, with over N154.3 billion disbursed in just 19 months?

    This is not principled opposition. This is political rascalism.

    And it is not new. The same voices that now cry foul once fought against every reform that has since become a national asset. They have not evolved. They have not learned. They have not earned the right to be taken seriously.

    Seeing Kenneth Okonkwo there gave pause. He has, at times, shown flashes of rational thinking. Was this a moment of misjudgment, or a perfidy he walked into, doing the bidding of others?

     This is not how opposition should behave. To be credible, they must raise issues that reflect the lived realities of Nigerians, not hide behind the fig leaf of public interest while shielding the privileges of their moneyed patrons. Nigerians are smarter than that. They know when politicians are clowning, which they do often. They know when they are genuinely fighting for the common good, which unfortunately they rarely do.

    This protest failed the test of scrutiny. And history will remember it as such.

    • Opeseitan, a commentator, wrote from Lagos

  • Kaduna State’s 2026 Budget: A vision of renewal, resilience and inclusive growth

    Kaduna State’s 2026 Budget: A vision of renewal, resilience and inclusive growth

    By Mukhtar Maikudi

    On December 1, 2025, Governor Uba Sani of Kaduna State unveiled a transformative N985.9 billion budget for 2026 before the State House of Assembly. Dubbed a “people-centred financial plan,” this appropriation bill represents more than a fiscal blueprint; it embodies a commitment to consolidating reforms in critical areas such as security, infrastructure, education, and rural development.

    In his address, Governor Uba Sani emphasized that the budget transcends mere constitutional duty, framing it as a “solemn civic engagement” rooted in transparency, equity, and the welfare of Kaduna’s citizens. This approach signals a shift toward governance that prioritizes the voices of the marginalized, ensuring that development is not imposed from above but co-created with the people.

    The genesis of the 2026 budget lies in one of the most extensive consultation processes in Kaduna’s history. Governor Uba Sani highlighted how inputs were gathered from a diverse array of stakeholders, including traditional rulers, civil society organizations (CSOs), women’s groups, youth associations, academia, business leaders, and vulnerable populations across all local governments. Farmers, traders, teachers, artisans, persons with disabilities, and widows played pivotal roles in shaping the document. This participatory model strengthens accountability and ensures that the budget addresses real-world needs, fostering a sense of ownership among citizens. By integrating these grassroots perspectives, the administration has elevated budgeting from an elite exercise to a democratic tool for empowerment.

    Reflecting on the outgoing 2025 fiscal year, Governor Uba Sani painted a picture of “remarkable achievements and resilient advancement” amid formidable challenges. Economic pressures, volatile federal allocations, and persistent security threats tested the state’s resolve, yet Kaduna emerged stronger. This resilience forms the foundation for the 2026 projections, which build on ongoing initiatives to propel the state toward sustainable progress. The governor’s review underscores a narrative of perseverance, where setbacks in areas like security were met with innovative responses, ultimately yielding tangible gains for residents.

    At its core, the N985.9 billion budget is structured to prioritize development, with N734.2 billion allocated to recurrent revenue and N251.6 billion to capital receipts. Notably, capital expenditure accounts for a commanding 71% of the total, underscoring the administration’s focus on long-term investments over operational costs.

    This allocation strategy aligns with Kaduna’s broader transformation agenda, channeling resources into sectors that drive economic growth and human capital development. Education and infrastructure each receive 25% of the budget, health 15%, agriculture 11%, security 6%, social development 5%, governance 5%, and environment and climate action 4%. Such a balanced distribution reflects a holistic vision, where no single area dominates, but all contribute to a cohesive strategy for state-wide advancement.

    A standout feature of the budget is the continuation of the Ward Development Committees(WDC) initiative, which allocates N100 million to each of Kaduna’s 255 wards for community-identified projects. Governor Uba Sani described this as one of Nigeria’s largest grassroots budgeting models, empowering local populations to address their unique priorities. This decentralized approach not only democratizes resource allocation but also ensures that development reaches the farthest corners of the state, bridging the urban-rural divide and promoting equity.

    Security remains a cornerstone of Governor Uba Sani’s agenda, given Kaduna’s history of banditry, kidnappings, and communal conflicts. The 2026 budget dedicates 6% to bolstering defenses, building on the successes of the Kaduna Peace Model. This framework has facilitated reconciliation in conflict-torn communities, reopened farmlands, and restored schools previously shuttered due to insecurity. Enhanced collaboration with federal security agencies has improved operational efficiency, restoring confidence and enabling economic activities to resume in affected areas. By addressing root causes through community engagement and targeted interventions, the administration aims to create a safer environment that supports broader development goals.

    Notably, infrastructure development receives equal prominence with 25% of the budget earmarked for projects that enhance connectivity and economic vitality. Governor Uba Sani, while presenting the budget, reported ongoing execution of 140 road projects spanning 1,335 kilometers of which 64 have already been completed. These roads have unlocked new economic corridors, linking isolated communities to markets and services.

    The introduction of the Kaduna Bus Rapid Transit (KBRT) system marks a milestone as the first of its kind in Northern Nigeria, featuring compressed natural gas (CNG)-powered buses, digital ticketing, and a 24-kilometer dedicated corridor. Complementing this is the Interstate Bus Terminal in Kakuri, now 75% complete, which promises to streamline intercity travel and reduce congestion.

    Further innovations in transportation include the Kaduna Light Rail Project, with Phase I focusing on the Rigachikun–Sabon Tasha corridor and Phase II extending to Millennium City and Rigasa. Major bus parks are under construction statewide, while a subsidized transport scheme has already delivered over N500 million in savings through free and discounted rides. These initiatives not only improve mobility but also stimulate commerce, job creation, and urban efficiency, positioning Kaduna as a modern hub in the region.

    Rural revitalization is another key pillar, with efforts to reclaim over 500,000 hectares of abandoned farmlands through improved feeder roads, markets, and extension services. This focus aims to boost food production and empower agrarian communities, which form the backbone of Kaduna’s economy. By restoring these vital assets, the budget seeks to enhance agricultural productivity and reduce dependency on urban centers, fostering self-sufficiency and resilience against economic shocks.

    Education, allocated 25% of the budget, is positioned as the “cornerstone” of Kaduna’s development. In 2025, the administration reopened 535 schools, bringing over 300,000 out-of-school children back to classrooms, and reduced tertiary fees by 40% to improve access. Investments include the construction of 736 new classrooms, renovation of 1,220 existing ones, provision of boreholes, toilets, and furniture, and training for more than 33,000 teachers. The establishment of bilingual schools and vocational hubs further enriches the educational landscape, equipping students with skills for a global economy. These measures address long-standing gaps, ensuring that education serves as a ladder for social mobility and economic empowerment.

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    Health sector reforms backed by 15% of the budget, demonstrate a commitment to comprehensive healthcare. All 255 Primary Healthcare Centres have been upgraded to Level 2 status, while 15 General Hospitals have been renovated, five completed, and the 300-bed Bola Ahmed Tinubu Specialist Hospital commissioned. The implementation of the Consolidated Medical Salary Structure (CONMESS) and Consolidated Health Salary Structure (CONHESS) has boosted the morale of health workers. Additional enhancements include strengthened emergency services, an oxygen plant, an improved medical warehouse, and N1 billion allocated for insuring vulnerable households. These upgrades aim to make healthcare more accessible, efficient, and responsive, particularly, for underserved populations.

    Vocational training and skills development receive targeted support, with the new Institute of Vocational Training and Skills Development in Rigachikun and its satellite campuses. Partnerships with tech giants like Microsoft and Google are expanding digital literacy, while the remodeling of Panteka Market supports over 38,000 artisans.

    In agriculture, investments have surged from N1.4 billion in 2023 to N74.2 billion in 2025, enabling the distribution of over 900 trucks of free fertilizer, alongside advancements in irrigation, mechanization, livestock vaccines, and seed improvement. The $510 million African Development Bank-supported Special Agro-Industrial Processing Zone is poised to transform Kaduna into an agro-industrial powerhouse, complemented by the African Quality Assurance Centre to facilitate exports.

    The presentation was concluded by Governor Uba Sani by urging lawmakers to expedite the budget’s consideration, framing it as a symbol of “renewal, resilience, and a far-reaching vision” to touch every home, ward, and local government.

    In response, Speaker Hon. Yusuf Liman praised the proposal as “ambitious, comprehensive, and aligned with the state’s development priorities.” He highlighted its emphasis on rural infrastructure, human capital, and balanced growth, commending the governor for involving legislators in constituency projects—a first in Kaduna’s history—and respecting legislative independence. Liman assured a thorough, transparent review and close collaboration for swift passage, underscoring the synergy between branches of government.

    Already, the public hearing on the budget has been done and the defense by all ministries and agencies concluded around mid-Decembber, 2025 and waiting for the governor’s assent. The 2026 budget for Kaduna State under Governor Uba Sani, in essence, can be described as a bold manifesto for inclusive progress. By weaving together participatory governance, strategic investments, and a focus on human-centered development, it charts a path toward a more secured, prosperous, and equitable state. Hopefully, as implementation of the budget begins after the signing into law by Governor Uba Sani, the true measure of success will lie in translating these allocations into lived improvements for Kaduna residents, ensuring that the promise of renewal becomes a reality for all.

    •Maikudi, an economic and financial analyst, writes from Kaduna

  • Enugu’s N1.62tr 2026 Budget: Consolidating the march to $30b economy

    Enugu’s N1.62tr 2026 Budget: Consolidating the march to $30b economy

    By Collins Ogbu

    When the Enugu State Government unveiled its 2026 Appropriation Bill, the headline figure, N1.62 trillion, immediately commanded attention. Yet, beyond the size of the budget lies a deeper story: one of policy consistency, disciplined execution, and a long-term economic vision anchored on transforming Enugu from a largely a civil service and consumption-driven subnational economy into a competitive production, investment, tourism, and living destination. The 2026 budget does not emerge in isolation. It is deliberately built on the relative successes, lessons, and momentum of the 2025 fiscal year, scaling up reforms and investments that have already begun to reshape the state’s economic trajectory.

    With a 66.5 percent increase over the 2025 budget, the 2026 fiscal plan represents a conscious acceleration rather than a fiscal gamble. It reflects confidence derived from improved revenue performance, stronger institutional capacity, and early wins across infrastructure, education, healthcare, security, and economic reforms. More importantly, it aligns squarely with the administration’s overarching ambition: to grow Enugu’s economy from an estimated $4.4 billion as of 2023 to a $30 billion economy within the eight-year lifespan of Governor Peter Ndubuisi Mbah’s administration.

    At the core of the 2026 budget is a development-first philosophy. Of the N1.62 trillion proposed, a remarkable N1.3 trillion, representing 80 percent, is allocated to capital expenditure, while recurrent expenditure is held at N321 billion, or just 20 percent. In 2025, ratio was even 86 percent capital to 14 percent recurrent. This structure is unusual by Nigerian standards, where recurrent spending often crowds out investment in infrastructure and key economic enablers. In Enugu’s case, however, the reverse is true. The budget is designed to build assets, unlock productivity, and create the enabling environment for private sector-led growth.

    This capital-heavy approach in 2026 is not theoretical. It builds directly on the 2025 budget, which prioritised foundational infrastructure, institutional reforms, and sectoral pilots. Roads commenced in 2025 are being extended and completed in 2026. Revenue reforms initiated last year are now yielding stronger internally generated revenue (IGR) projections. Social sector investments in education and healthcare that began as upgrades in 2025 are being scaled into system-wide transformations in 2026. In essence, the 2025 budget laid the groundwork; the 2026 budget is about visible impact at scale.

    Revenue projections for 2026 reflect this growing confidence. Total revenue is projected at N1.62 trillion, with IGR contributing N870 billion, or 53.6 percent of the total. This represents a dramatic 221.6 percent increase over 2024 performance and builds on the improved collections recorded in 2025. The surge in IGR is a product of deliberate reforms: digitisation of land administration, automation of business registration, enhanced tax intelligence, and the elimination of leakages that historically undermined state finances. These reforms are gradually changing the fiscal culture of the state, shifting Enugu away from overdependence on federal allocations.

    FAAC receipts are estimated at N387 billion, providing a stable but no longer dominant revenue stream. Capital receipts of N329 billion, accounting for 20.3 percent of revenue, are expected largely from asset sales and leases, particularly within the New Enugu Smart City. This reflects a shift toward asset optimisation rather than asset accumulation, ensuring that public assets actively contribute to economic growth and fiscal sustainability.

    On the expenditure side, personnel costs are pegged at N149.995 billion, representing 9.3 percent of the total budget, while overhead costs stand at N120.36 billion, or 7.5 percent. Together, recurrent expenditure totals N321.305 billion. This disciplined approach mirrors the 2025 framework, where cost containment created fiscal space for investment. The message is consistent: governance efficiency is a prerequisite for development ambition.

    Sectoral allocations in the 2026 budget further reveal the administration’s priorities and long-term thinking. The economic sector takes the largest share: N825.95 billion, or 51 percent of the budget. This allocation reflects a deliberate push to reposition Enugu as a productive economy rather than a civil service enclave.

    Agriculture remains central to this strategy. Massive investments are channelled toward the completion of 260 farm estates across the state. These estates are designed not merely as farming clusters, but as integrated agro-industrial hubs with access roads, power, water, storage, and processing facilities. By scaling agricultural production and value addition, the state aims to boost food security, generate jobs, and expand export potential.

    Transport infrastructure is another major pillar of the economic sector. In 2026, N1.2 billion is allocated for the construction of modern transport terminals in strategic locations such as Emene, Awgu, and Obollo Afor. These terminals are expected to improve logistics, reduce congestion, and support commerce. Additionally, the procurement of 2,000 city taxis will modernise urban transportation, enhance mobility, and create employment opportunities. Enugu Air, one of the state’s most ambitious projects, is set for significant expansion, with plans to grow its fleet to 20 aircraft, this adding additional 14 aircraft in 2026. This is not an isolated decision. Improved air connectivity is central to positioning Enugu as a hub for business travel, tourism, and investment.

    Industrial development continues to receive attention, building on revival efforts initiated in 2025. Strategic assets such as Nigergas, Sunrise Flour Mill, United Enugu Palm Products Limited are being revitalised to stimulate manufacturing, create jobs, and deepen the state’s industrial base. These investments are critical to increasing the state’s gross domestic product and attracting complementary private sector investments.

    The social sector commands N644.73 billion, representing 40.1 percent of the total budget. Education alone receives 32.27 percent of the N1.62 trillion total expenditure, making it the single largest sectoral allocation for the third consecutive year at over 30 percent of the budget. This sustained emphasis reflects the administration’s conviction that human capital development is the most reliable driver of long-term economic growth. Building on reforms initiated in 2025, the 2026 budget expands investments in Smart Secondary Schools, digital learning infrastructure, teacher training, and Technical and Vocational Education and Training (TVET). The objective is clear: to produce a workforce equipped with relevant skills for a modern, technology-driven economy.

    Healthcare is allocated N161.8 billion, accounting for 10 percent of the budget. The focus is on consolidating gains from 2025 while scaling up service delivery. The completion of 260 Type-2 Primary Healthcare Centres will significantly expand access to quality primary care, particularly in rural and underserved communities. Secondary healthcare facilities will be upgraded, while construction continues on the 300-bed Enugu International Hospital. This flagship project is expected to reduce medical tourism, attract regional patients, and position Enugu as a healthcare destination in the South-East and beyond.

    Housing also features prominently, with N243.6 billion allocated, about 15 percent of the budget. The state plans to deliver 15,000 mass housing units in the first phase, addressing housing deficits while stimulating the construction sector. The New Enugu Smart City remains a central component of this strategy, combining residential, commercial, and industrial zones in a planned urban environment. Beyond improving quality of life, the Smart City is projected to generate significant revenue through leases, sales, and increased economic activity.

    Infrastructure and transport projects collectively account for 31.6 percent of the budget. Road infrastructure alone receives N120.7 billion, covering critical corridors such as the 40-kilometre Owo–Ubahu–Amankanu–Neke–Ikem Dual Carriageway, the Abakpa Nike–Ugwogo Nike–Ekwegbe–Opi–Nsukka Road, and the 21.65-kilometre Enugu–Abakaliki Expressway. These projects, many of which commenced or were designed in 2025, are essential for improving connectivity, reducing logistics costs, and integrating rural economies with urban markets.

    Security, though allocated a modest 2.8 percent, remains strategically important. An N11 billion provision will fund the second phase of the state’s security surveillance system, expanding coverage and enhancing response capacity. Safety and stability are foundational to attracting investors, tourists, and residents, and the administration recognises that economic growth cannot thrive in an insecure environment.

    The 2026 budget also reflects a clear understanding of risks and challenges.

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    Execution capacity will be tested by the sheer scale of projects. To address this, the state plans to strengthen oversight mechanisms, expand technical manpower, and improve project management systems. External factors such as inflation, exchange rate volatility, and weather-related disruptions may affect costs and timelines, but the administration remains confident that these risks can be managed without undermining core objectives.

    Crucially, the budget is framed within a long-term economic vision. The ambition to grow Enugu’s economy from approximately $4 billion to $30 billion within eight years is bold, but not unrealistic. The pathway lies in consistent capital investment, human capital development, institutional reforms, and private sector mobilisation.

    By improving infrastructure, strengthening education and healthcare, modernising agriculture, and enhancing security and connectivity, Enugu is positioning itself as a prime destination for business, investment, tourism, and living.

    The successes recorded under the 2025 budget: improved revenue performance, ongoing infrastructure projects, strengthened institutions, and renewed investor confidence, provide a strong foundation for the 2026 scale-up. Each kilometre of road completed, each school upgraded, each healthcare centre delivered, and each reform implemented contributes incrementally to a more competitive economy.

    In simple terms, the 2026 Enugu State Budget marks a decisive transition. It is the bridge between preparation and performance, between aspiration and achievement. By sustaining fiscal discipline while dramatically expanding capital investment, the government is laying the groundwork for transformative growth. If effectively implemented, the budget will not only deliver tangible improvements in the lives of citizens in 2026, but also set Enugu firmly on the path toward becoming one of Nigeria’s most dynamic subnational economies—an investment destination of choice, a hub for tourism and innovation, and a place where people can live, work, and thrive.

    Ultimately, N1.62 trillion is not just a figure. It is a statement of confidence in Enugu’s future, and a roadmap to getting there. Indeed, Tomorrow is Here for Ndi Enugu.

    •Dr. Ogbu is Senior Special Assistant (Strategic Communications) to Enugu State Governor

  • Economy: More gains in 2026

    Economy: More gains in 2026

    By Kunle Oyatomi

    Nigerians are gearing up for 2026, and by current projections, next year is shaping up to be much more favourable.

    This is thanks to the solid foundation that President Bola Tinubu laid in 2023, which has put the country on an incredible growth trajectory, as being brought to light by some of the country’s brightest economists.

    In November, two distinguished Nigerians spoke about the unprecedented economic reset happening under President Bola Tinubu. First was Dr Ngozi Okonjo-Iweala, who declared that the country’s economy has gained a level of stability.

    Second was Nigerian-born global investor, Mr Bayo Ogunlesi, who said Nigeria, having undergone a series of crucial reforms, including phasing out fuel subsidies, liberalising the foreign exchange market and overhauling its tax laws, is on a solid economic footing.

    Even though both remarks elicited negative reactions from those who appear to have made a covenant with sadness never to acknowledge anything good from Tinubu, the projections for 2026 are even bigger and better.

    For those who care to know, Tinubu’s economic blueprint, built on tough but necessary measures, is likely to achieve unimaginable gains in the coming year.

    One of the country’s leading economists, Bismarck Rewane, recently shared this outlook. In his forecast for 2026, Rewane said Nigeria could enter the year on its strongest economic footing in over a decade.

    He forecasts that a combination of easing inflation, rising investment, major corporate listings and stabilising monetary conditions will propel the country into a new and more durable cycle of growth.

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    The managing director of Financial Derivatives Company further described 2026 as a defining year in which structural reforms, private-sector expansion and improved policy coordination will converge to reposition the country’s economy, to the dismay of his critics.

    He argues that after years of unstable inflation, caused by the roguish Peoples Democratic Party, PDP’s, economic blunders, exchange-rate distortions and suppressed investment, Nigeria is finally approaching an economic juncture where fundamentals and reform momentum can reinforce each other rather than work in conflict.

    But a notable point in his forecast is that the Nigerian Exchange’s total market capitalisation could experience a 191 per cent jump from N90 trillion in 2025 to N262 trillion in 2026.

    Nigeria’s economy is expected to maintain a moderately positive growth trajectory in 2026, with GDP expansion of 4.1 per cent, slightly above the 3.86 per cent forecast for 2025, he stated.

    Like him, an investment bank, Cowry Asset Management Limited, also anticipates growth in the country’s economy in 2026.

    The company said after many years of policy inconsistencies, Nigeria under Tinubu is primed for another level of growth in the coming year, supported by a combination of improved domestic oil production, ongoing policy reforms, and steady expansion in key non-oil industries such as telecommunications, financial services, construction and trade.

    Cowry Research pointed out that the oil sector, despite recent volatility, is anticipated to make a positive contribution to overall GDP, driven by rising domestic production and ongoing investments in upstream operations, which are gradually enhancing capacity and output.

    Regarding the new tax laws that have sparked concern among some Nigerians, particularly the lower class, provider of tax administration and data security technologies, Taxaide Technologies Limited, Taxtech, has also assured that the reforms are actually favourable to low-income earners and are designed to boost purchasing power.

    Taxtech’s Executive Director/Partner, Data Security Services, Mr Oyeyemi Oke, said the reforms ensure that those on minimum wage would pay minimal or no income taxes, while high-income earners would contribute more to government revenue.

    He said: “I think it is a good law for individuals, especially low-income earners. What we see under the law is that low-income earners will pay lower taxes. In fact, those who earn the minimum wage will actually not pay any taxes. If an individual is earning between N70,000 and up to N2.1 million, that individual wouldn’t pay higher taxes, some will not even pay taxes at all.

    “That changes once an individual earns beyond N2.1 million. Once an individual goes above that threshold, such a person will be paying higher taxes.

    “The impact is that people within the low-income band will have more money to spend, which will increase purchasing power. Essentially, it is a progressive tax regime.”

    Like I said few weeks ago, President Tinubu may not be one to talk much, but his quiet, steady approach to governance is showing real results, whether troublemakers choose to see it or not.

    The evidence of his strategic reforms are beginning to bear incredible fruits in a manner never witnessed before, not even under the butcher of our economy, the PDP, which mismanaged finances and plunged Nigerians into difficult times.

    Former First Lady of the United States, Rosalynn Carter, once said: “A leader takes people where they want to go. A great leader takes people where they don’t necessarily want to go, but ought to be.”

    President Tinubu, who is a great leader by all ramifications, will take Nigerians where they don’t necessarily want to go, but ought to be in the coming year and for as long as he remains in power.

    •Oyatomi, Former Editor, (Sunday Vanguard), Author (FINGERPRINTS 2008) and a Lawyer, is a member of the Board of Independent Media and Policy Initiative (IMPI), a Think Tank based in Abuja.

  • Brazen arrogance and dangerous assault on democracy in Benue

    Brazen arrogance and dangerous assault on democracy in Benue

    By Prof. Iyorwuese Hagher

    On 13th December 2025, the Tiv nation celebrated Tiv Day, a day of joy and festivities for all Tiv people worldwide. President Ahmed Bola Tinubu instructed his trusted friend and political ally of many decades, Senator George Akume, CON, Secretary to the Government of the Federation (SGF), to represent him at the celebration. The President’s message of solidarity with the Tiv people was clear, passionate, and deeply resonant.

    I was a member of this presidential delegation alongside the Honourable serving cabinet minister, Professor Joseph Utsev, Minister of Water Resources, and a distinguished Tiv elder, my fellow Second Republic Senator Jack Tilley-Gyado; serving members of the National Assembly, Hon. Asema Achado and Hon. Terseer Ugbor; as well as Dr Pius Akuta and Dr Matthias Byuan, and Christopher Tarka Tiv sons holding high offices in the administration. We departed Abuja on a presidential flight that landed in Makurdi. We were all dressed in various styles and shades, highlighting Tiv culture. We looked forward to a joyful celebration and warm welcome among our brothers and sisters, as well as to relishing the honours conferred by the Tiv Traditional Council through traditional titles with diverse appellations.

    However, as soon as we landed at Makurdi airport, the Benue State Government and the Tiv Traditional Councils’ welcome party and festivities for the President’s envoy and delegation were absent. Instead, we faced a chilling and shocking display of arrogance, lawlessness, and violent intolerance in our state. What I saw on Saturday remains one of the most disturbing episodes in Nigeria’s recent political history.

    Apart from representing the President, Senator George Akume is not only the highest-ranking federal officer from Benue and a founding member of the party, but also a two-term Governor of Benue State, a three-term Senator, and a former minister. His current position is the highest any Benue person has ever held in any Nigerian Government. Moreover, he is a longstanding political benefactor to the succeeding governors of the state and to many within its political structure, including being at the forefront of the platform that elected Governor Hyacinth Alia.

    By every standard of civility, culture, and political hierarchy, the SGF deserved a respectful and dignified reception. All members of the delegation, both individually and collectively, are the very pinnacle of Tiv society and form part of the national and global elite. What we received was not a welcome but a humiliation.

    From the moment of arrival, it was clear that the Governor of Benue State, Reverend Father Dr Chief Hyacinth Alia, either failed or refused to offer the basic courtesy expected of his office. Based on his past actions, it was apparent that the Governor orchestrated the humiliation of the presidential delegation through a bold display of unwarranted political arrogance.

    Instead of a warm welcome, the Governor’s reception party was hostile, verbally abusive, and contemptuous. They sang derisive chants of “No Alia, No Benue,” a slogan weaponised to insult and diminish the SGF in full public view. It was an act of arrogance so brazen that it stunned members of the delegation. The SGF and his delegation, along with supporters, moved into their waiting vehicles to avoid escalation of chaos.

    We were compelled to flee from the hostile mob and make our way to Gboko, the venue of the Tiv Day celebration, in the hope that the cultural setting would restore calm. However, the situation worsened. A much larger, more aggressive crowd surged towards the area where the SGF was seated. Meanwhile, his delegation, the Honourable Minister, and Members of the National Assembly either shared seats, sat precariously on armrests, or stood, gazing at the rapidly unfolding, volatile, and frightening atmosphere.

    In the chaos, I saw a horrifying act. A member of the Governor’s mob, shouting “No Alia No Benue”, drew a knife and stabbed a youth who was begging for calm. The young man fell to the ground, wounded, as panic spread. The celebration ground turned into what could only be described as a battlefield — noisy, hostile, and completely out of control.

    Even the reading of the Presidential address was not spared from this disgrace. As the SGF attempted to deliver the message of Mr President, the mob surged forward onto the stage, drowning his voice with aggressive drumming, hissing, and animalistic howling. It was a deliberate attempt to silence not only the SGF but also President Tinubu himself.

    In this tense and perilous environment, members of the delegation were targeted individually. I was personally pursued by some miscreants chanting their maddening refrain, “No Alia No Benue.” Fearing for my life, I escaped into a parked bus as I watched the SGF and other members being evacuated from the arena to safety by the military. In the chaos, I missed the Presidential convoy, which managed to break free and return to the airport in Makurdi for an emergency departure back to Abuja.

    Stranded and shaken, I had to spend the night in Makurdi under tense circumstances and could only return to Abuja by road the following day, 14th December.

    This incident I witnessed is not merely an embarrassing moment for Benue State; it is a matter of national concern. It signifies a grave insult to the office of the Secretary of the Government of the Federation and the Presidency. It reflects a troubling tolerance and a disturbing admiration by the Benue Government for political intimidation, mob violence, and abuse of power within Benue State.

    Governor Alia alone should accept responsibility and acknowledge the hostile environment that allowed this disgrace. Leadership requires restraint, respect for institutions, and safeguarding guests, regardless of political differences. The incidents in Makurdi and Gboko were failures of leadership and tarnish Benue State’s reputation.

    Benue State and Nigeria cannot afford to normalise such dangerous intolerance. I have decided to speak out because all lovers of democracy must condemn the treatment meted out to the SGF and the Presidential delegation in the strongest terms in the interest of democracy, unity, and national stability.      

    Finally, as one of Nigeria’s longest-serving and most senior politicians, intellectuals, and diplomats from 1977 to 2025, I have paid my dues and earned the right to state the following:

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    a.         To His Excellency Rev. Fr. Dr. Chief Hyacinth Alia (whom I have never met in person), I have nonetheless observed your administration with deep concern: the firm grip on the State House of Assembly, the political contagion and manipulation of traditional institutions, and your involvement in conduct you should be ashamed of, such as failing to control your fiercely violent supporters and threatening to use witchcraft on people. However, nothing in your playbook of toxic leadership surpasses your ongoing, unwarranted cruelty towards the SGF, in an attempt to establish dominance. Everyone knows that the SGF’s unforgivable sin in your eyes was aiding your rise to become governor of Benue State when you were a complete outsider to the APC platform.

    b.         IF THIS DESPERATION, WHICH I HAVE SEEN YOU DISPLAY AGAINST THE BENUE STATE POLITICAL LEADERS AND PEOPLE, IS AIMED AT BECOMING A ONE-TERM GOVERNOR, THEN YOU HAVE JUST ACHIEVED YOUR GOAL AND EARNED THE PASS MARK. 

    c.         To His Royal Highness the Tor Tiv, I would like to let you know that you hold a royal, revered and prestigious stool of our ancestor Takuruku Anyam Azenga. Please do not desecrate it with political partisanship. It is deeply troubling. Please redress, Your Majesty.

    d.         To the SGF, I implore you to listen to yourself in the Bible’s parable of the Sower you gave in your Tiv Day speech. You are the Sower who sowed on hard ground, the stony ground and the thorny ground. But the next seed you will sow will be in the good and fertile ground. Do not despair, the best is yet to come.

    A word is enough for the wise.

    •Prof. Hagher was former Minister of State for Power and Steel

  • Hope Uzodimma: Securing mandate to preach Renewed Hope gospel

    Hope Uzodimma: Securing mandate to preach Renewed Hope gospel

    By Sunday Dare

    When President Bola Ahmed Tinubu recently tapped Governor Hope Uzodinma to serve as the Director General and National Coordinator of the Nationwide Renewed Hope Ambassadors Project, it came as no surprise to discerning observers. For a man whose capacity to mobilize people, design functional structures, and drive strategic mobilization is well established, the assignment fits with almost mathematical precision. It is a role that demands credibility, composure, organization, and results — qualities Uzodinma has demonstrated over time

    Uzodinma’s political and governance trajectory has never relied on noise or theatrics. It has been defined by structured thinking, problem-solving, and a quiet resolve to deliver. As Chairman of the Progressive Governors’ Forum, he emerged as a steady hand in moments when the party and the country required calm, negotiation, and clarity. In tense transition periods and during sensitive internal realignments, he consistently played the role of mediator rather than agitator — a solution finder with a reputation for listening carefully, thinking strategically, and acting decisively.

    Yet, he is not just a negotiator; he is a builder. His work in Imo State reflects a deliberate focus on infrastructure, economic renewal, governance reforms, and investor confidence. One of the most visible pillars of his administration has been the aggressive rehabilitation and construction of critical roads. The reconstruction of the Owerri–Orlu and Owerri–Okigwe roads, for instance, has significantly improved connectivity, reduced travel time, and unlocked economic corridors that are vital to trade and commerce within and beyond the state.

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    In urban infrastructure, the delivery of the Assumpta Flyover at the Assumpta Roundabout in Owerri stands out as both a functional and symbolic achievement — easing congestion at a major traffic node and signalling a commitment to modern city design. Complementing this is the rebuilding and upgrade of the Emmanuel Iwuanyanwu International Conference Centre and improvements around the State House of Assembly complex, helping position Owerri as a credible destination for high-level dialogue, conferences, and institutional events.

    On the transport and logistics front, the revival and upgrade of the Sam Mbakwe International Cargo Airport has further anchored Imo as a gateway for commerce, investment, and connectivity in the South-East. These are not abstract projects; they are tangible assets that residents, traders, investors, and visitors can see and use.

    Most recently, Governor Uzodinma convened the Imo Investment Summit held last week — a strategic forum aimed at repositioning Imo as an investment destination of choice. The Summit brought together local and international investors, development partners, financial institutions, and private-sector leaders together.

    They gathered to explore opportunities in infrastructure, industry, tourism, energy, agriculture, and services. It was not an event for optics; it was an intentional effort to chart a pathway towards a more diversified, investment-driven Imo economy, with commitments and follow-up mechanisms embedded into the state’s broader development agenda.

    Beyond physical projects and economic initiatives, Uzodinma has also pursued governance and fiscal reforms: tackling legacy debt, improving internally generated revenue, prioritizing workers’ welfare, clearing pension backlogs, and advancing initiatives like “Light Up Imo” to support productivity and public safety. These decisions underscore a mindset that sees governance as a long-term management responsibility, not a short-term performance for headlines.

    There is, however, another layer to his profile that is often underappreciated — his intellectual and reflective side. Recently, Uzodinma authored and presented a book titled “A Decade of Impactful Progressive Governance in Nigeria”, a serious contribution to Nigeria’s contemporary political and governance literature. The work goes beyond partisan commentary; it situates the experience of progressive governance within a wider historical, institutional, and policy context. That a sitting Governor, takes the time to think, write, and document at that level says something important- Uzodinma views governance not just as administration, but as part of Nigeria’s unfolding historical narrative.

    It is this blend of strategic political skill, governance delivery, developmental ambition, and intellectual grounding that makes his appointment as helmsman of the National Renewed Hope Ambassadors (NRHA) Project both logical and instructive.

    He has been one of the most vociferous promoters of President Bola Ahmed Tinubu’s policies and programs- always exploring ways both the Federal and sub nationals can work together towards achieving good governance.

    The NRHA is not a campaign platform. It is not designed for electioneering or partisan sloganeering. Rather, it is a structured mass mobilization and public enlightenment architecture, conceived to bridge the gap between government reforms and citizen understanding. Its mandate is to translate policy into plain language, to carry accurate information down to the ward level, and to channel feedback from communities back up to the institutions that make and implement decisions.

    In many ways, the Renewed Hope Ambassadors framework is civic education meeting mass mobilization — a nationwide network of trained ambassadors, mission officers, and coordinators who will engage markets, communities, faith institutions, youth groups, traditional authorities, and other stakeholders with facts, programmes, and opportunities, not rumours and speculation.

    This project needs a leader with:

    •            Organizational intelligence – to design structures that work from the national level down to the wards.

    •            Strategic communication sense – to ensure messages are clear, consistent, and credible.

    •            Consensus-building skills – to align party structures, public institutions, and community actors behind a shared objective.

    •            Intellectual depth – to understand the policy content behind the messages and not just the sound bites.

    His Excellency, Hope Uzodinma fits this profile. His experience chairing the Progressive Governors’ Forum, his record of delivery in Imo, his convening of the Imo Investment Summit, and his authorship of that seminar governance work,, together project a public figure who is both practitioner and thinker.

    By assigning him this role, President Tinubu has sent a signal: the awareness of the Renewed Hope Agenda will not be left to chance. It will be systematic, evidence- based, and anchored on verifiable progress. The NRHA under Uzodinma’s leadership will function as a national interface — carrying government to the grassroots and bringing the grassroots back to government.

    In a season where misinformation travels faster than facts, where cynicism often drowns out genuine progress, and where citizens demand not just promises but proof, the choice of Governor Hope Uzodinma to “preach the gospel of Renewed Hope” is more than mere political patronage. It is a strategic deployment of a problem solver, a solution provider, and a capacity builder to the frontlines of national communication of policy outcomes.

    Renewed Hope, after all, is not just something to be said. It is something to be organized, explained, and demonstrated. And in that assignment, Uzodinma now carries a mandate that is as heavy as it is critical.

    God will help Nigeria to succeed.

    • Dare is a Special Adviser to the President