The Nation Newspaper

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  • Nigeria: Close of year – from reform to relief

    Nigeria: Close of year – from reform to relief

    • By Sunday Dare

    As 2025 draws to a close, President Bola Tinubu’s administration presents Nigerians with not rhetoric, but a measurable accounting of progress-one that is increasingly visible and relatable in everyday life, not just in macroeconomic charts.

    Year 2025 was one of deliberate, sometimes difficult, reforms. Today, those reforms are beginning to yield stabilisation, easing prices, and renewing confidence across the economy.

    What it means for households and businesses?

    After eight consecutive months of decline, headline inflation eased to 14.45% in November 2025. This matters because it slows the pace at which prices of food, transport, and household essentials rise. Food inflation has also entered a downward trend, offering gradual relief in markets and retail outlets nationwide.

    Fuel prices – one of the most visible cost drivers for households – have now stabilised and begun to ease. Petrol currently sells at around N845 per litre by NNPCL, while private refiner–owned filling stations are selling below N800 per litre in several locations. This moderation has reduced transport costs, eased pressure on food prices, and improved cost planning for businesses and families alike.

    The foreign exchange market has steadied, supported by external reserves of $44.56 billion. For Nigerians, this translates into fewer sudden currency swings, lower imported inflation, and more predictable pricing for essentials such as medicines, school supplies, and manufactured goods.

    Growth without illusions

    Nigeria’s economy expanded by 3.98% in Q3 2025, driven largely by the non-oil sector. This growth reflects real activity in agriculture, services, manufacturing, and trade—sectors that create jobs and sustain livelihoods.

    Business confidence has followed the same trajectory. The Purchasing Managers’ Index recorded 12 consecutive months of expansion, signalling increased production, restocking, and hiring across supply chains.

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    Investor confidence has also returned. A massively oversubscribed Eurobond issuance—four times the $2.3 billion target—demonstrated renewed international belief in Nigeria’s reform path, reducing future borrowing costs and strengthening fiscal buffers.

    Infrastructure and power: lowering costs at the base

    Record power generation, the rollout of the Presidential Metering Initiative, and decisive action on legacy power-sector debt are all directed at reducing the hidden “generator tax” Nigerians pay daily. More reliable electricity lowers production costs for small businesses and reduces household spending on diesel and petrol.

    In parallel, over N1.5 trillion committed to road infrastructure – including the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway.

    Security, confidence, and the social contract

    Security outcomes, including the successful rescue of all abducted schoolchildren in Niger State, reflect a more coordinated national security architecture – critical for farming communities, logistics corridors, and investor confidence.

    Internationally, Nigeria exited the FATF Grey List, regained key strategic seats, and secured major health and trade partnerships – steps that reinforce institutional credibility and global trust.

    Looking ahead to 2026

    The N58.18 trillion “Budget of Consolidation, Renewed Resilience and Shared Prosperity” anchors the next phase. With record capital expenditure, the largest-ever allocation to security, and prudent revenue assumptions, the focus now shifts from stabilisation to acceleration.

    Bottom line

    2025 was about restoring balance and credibility. The early dividends—slowing inflation, easing fuel prices, steadier foreign exchange, and rising confidence – are now visible.

    2026 is positioned to be the year these gains are felt more deeply, more broadly, and more permanently.

    Nigeria is not yet where it intends to be – but it is decisively no longer where it was.

    •Dare is the Special adviser Media and Public Communications to the President.

  • Africa’s democratic challenge

    Africa’s democratic challenge

    By Mike Kebonkwu

    History is repeating itself in the self-same manner as it happened in post-independence Africa in the 1960s.  While we were yet basking in the euphoria of freedom and liberation from colonial dominion, some young idealistic military officers zeroed their weapons and sacked the newly elected governments for massive corruption and diversion of state resources for personal aggrandizement.

    Regrettably, the latter day saints’ military interventionists became as corrupt and inept as the politicians that they sacked. With the aggressive campaign of pro-democracy movements of the late 1970s and early 1980s, civilian governments were restored in most African countries.  The politicians soon lost the lessons learnt during the military interregnum and continued with business as usual engaging in all manners of anti-democratic practices while corruption became almost an official policy. 

    Democracy has become severely strained in most African countries with manipulative governments that do not want to relinquish power voluntarily.  Ballots are routinely rigged to maintain their hegemony and hold on power. Democracy is at a cross road and the people have lost faith in our leaders who are professional politicians without democratic credentials lacking in integrity and fidelity.  Elections have become mere rituals and brazenly rigged with official seal. 

    There is mass poverty, unemployment, collapsed infrastructures and insecurity. The economic, social and political situations in our countries are intolerably unbearable due to poor governance. The politicians recruit thugs and hooligans to maintain their hold in the political space.  The political class has constituted itself into a cartel that mocks the poverty of the masses by their ostentatious lifestyles, amassing obscene wealth while citizens have become beasts of burden. 

    In the West African sub region alone, about four countries are under effective military dictatorship; Mali, Niger Republic, Burkina Faso, while the republic of Chad is wearing  a façade of democracy.  In other parts of Africa, Gabon, Sudan and Madagascar are under military regimes.    Recently, there was rumour of coup plot discussed in hush and whispers in Nigeria that some military officers are being detained and investigated. Just a fortnight ago, some military officers attempted to forcefully take over government in Benin Republic which was foiled with the support and assistance from the Nigerian Air Force that scrambled its jet to dislodge the coup plotters who had already taken over the air waves and occupied the radio house. 

    Elections are gradually becoming mere rituals to validate the power of incumbency.  There is mass rigging, disenfranchisement of people and other anti-democratic practices. There are no longer institutional checks and balances; the legislatures and the judiciary have become appendages of the executive.  The sub-regional bodies of Economic Community of West African States (ECOWAS) and African Union (AU) routinely condemn undemocratic change of government and are quick to suspend the countries under military regimes and impose economic sanctions.  However, they ignore the root cause of the failure of good governance and abuses giving rise to coup d’état.  The reason why officials of ECOWAS and AU do not condemn the anti-democratic practices of governments is because they are also appointed by these unpopular governments as political compensation and patronage by the same corrupt regimes at home. 

    Political leaders elected under democratic government are not behaving in any way better than military dictatorships. These are civilian governments that have also used the coercive power of the state, the police and the security forces to oppress the people. 

    Military coup d’état is not the threat to democracy but the dictatorial tendencies of elected governments and abuse of power by politicians.  We are sadly at the nadir of democracy in Africa without any renaissance in focus because we dig in to defend the cartel that has taken over the political space for tribal and religious reasons.  Now our political leaders are signing out our independence to global powers for loans and defence contracts for short term gains without interrogating the consequences on the long run. The suspension of countries under military dictatorship from the regional umbrella body of ECOWAS has led to the formation of the association of the Sahel States and they are mostly former French colonies.  If the trend continues, we will soon find out that there would be self-dissolution of the regional bodies as there will be no membership left due to erosion of democratic tenets by our politicians.

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    History teaches us that those who fail to learn from history will become victim of circumstances of the same history.   On intervention to restore elected government through military intervention, we have to be careful also not to erode the principle of meddling on the internal affairs of sovereign nations.  In particular, Nigeria as a sub-regional power should be very reflective on its posturing to protect democracy through the application of the use of force in the sub region.  We must be careful at the risk of the backlash of such actions because our situation is not very different from those countries that we are rising up to defend. We should first deal with those issues that make people to rise up against elected government.  The rule of law must be seen to be observed and the electoral processes must work and the votes of the people must count.  We must resist violent change of government by the way we play politics of exclusion. 

    Elected or appointed officials should not become emperors themselves.   The wealth of the nation must trickle down.  Africa is very rich and the people remain amongst the poorest in the world by every index of global institutional rankings. The problem of underdevelopment in Africa is crises of leadership and erosion of democratic values. Democracy and rule of law are inseparable phenomena and one reinforces the other.  The threat to democracy is abuse of power by elected government, and military coup is only the consequence.

    •Kebonkwu Esq is an Abuja-based attorney. He writes via mikekebonkwu@yahoo.com

  • First Lady Remi Tinubu’s impressive exertions

    First Lady Remi Tinubu’s impressive exertions

    By Ray Epku

    When Asiwaju Bola Tinubu was on exile abroad during the Abacha days of iron-fisted dictatorship, his wife Remi was with him. They were not sure when they would return to Nigeria but they made a big push for Nigeria to return to civil rule. While they were pushing for people of goodwill all over the world to join in the fight for the replacement of military rule with constitutional rule, some cowardly politicians in Nigeria chose to surrender to Sani Abacha by making him a presidential candidate in five parties.

    In the column I wrote at the time, I called it political polyandry. The Cicero of Ibadan, Chief Bola Ige described the five parties as the “five fingers of a leprous hand.” While on exile, the idea of a foundation that would help the helpless germinated in Remi’s head.

    When Abacha died and General Abdulsalami Abubakar took over as Head of State, Tinubu and Co knew it was time to come home. Tinubu contested for the governorship of Lagos State and won. Remi became the First Lady of Lagos State. She gave birth to her Foundation which she called New Era Foundation (NEF), a vehicle that she used in promoting the wellbeing of women, youths and vulnerable persons. And when she became the First Lady of Nigeria in 2023, she gave birth to a bigger foundation called Renewed Hope Initiatives (RHI). The RHI has as its focus women, youths, the elderly and the vulnerable in the 36 states and Federal Capital Territory (FCT). This foundation is helped by three factors (a) her experience as the First Lady of Lagos State (b) Her three term tenure as a senator and (c) her role as a pastor in a prominent Pentecostal church. These three factors have enriched her qualifications for compassion and made her a stand-out First Lady.

    The only First Lady that I can remember, who distinguished herself admirably in the pursuit of improved life especially for women was Maryam Babangida whose mandate was Better Life for Women. That focus on women was very important then as it is now because in Nigeria, women are generally very badly treated by men. They treat girls and women as second class citizens while they treat boys as royalty. If a poor man has two children, a boy and a girl, he prefers to send the boy to school and the girl into marriage. If a man has a wife who has delivered all girls, he may send her away or choose to marry another wife in the hope that the new wife will give him a male child. This male child syndrome has set many homes on fire.

    The very little importance that many men attach to women is also the reason for early marriage for women in many states of the federation. Some of them use religion as an excuse for early marriage. They say that if Prophet Mohammed married Aisha at an early age, it means that Allah had given approval for early marriage. But that was in an era where there was no respect for human rights. Today, the world has developed enhanced rights for all human beings and early marriage is forbidden in most developed and developing communities.

    Renewed Hope Initiative is striving to increase opportunities for women, youth, children, the elderly and the vulnerable across the nation in such areas as education, health, agriculture, economic empowerment, food outreach and social welfare. The First Lady works in collaboration with state governments, ministries and private sector donors.

    She has done remarkably well in various sectors. She has donated one N1 billion to the National Cancer Fund to fight the scourge of cervical cancer. She is providing support for 250 persons with disabilities in each state for them to use in recapitalizing their already existing businesses. She has donated various sums of money to victims of disasters in various states. She has empowered female farmers in various states. Under the Flow with Confidence Initiative, she is distributing tons of disposable sanitary pads to girls whose education could be stymied by the lack of such pads. She also provides food and financial relief to thousands of poor Nigerians in order to break their cycles of poverty, kill hunger, alleviate hardship and improve their living standard generally. She also provides scholarships and skills acquisition programmes for young persons to enhance their employability.

     There is also the Oluremi Tinubu Gender and Public Policy Studies Centre of the National Institute of Policy and Strategic Studies (NIPPS) at Kuru Jos. This institute named after her is for the enhancement of fair gender issues and research. Its importance lies in the fact that gender issues can no longer be swept under the carpet but can be openly discussed and debated so as to enhance inclusivity and unity between the sexes.

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    In executing these projects, the First Lady has exhibited exemplary courage by travelling to various places in the country generally considered unsafe for such visits. Naysayers may say that she is always generally surrounded by security operatives, but the truth is that even the most heavily protected politicians in the world have been tormented by people who don’t like them, their policies or their guts. So travelling to such places, all things considered, is a risk, a big risk.

    In our society, elderly people are generally very badly treated by young people. It is as if the young are saying “why are these ones still hanging around? Why don’t they go and give us space to operate?” Most states in Nigeria do not have programmes for taking care of the aged. The exceptions are Ekiti and Akwa Ibom. Perhaps there are a few others that I do not know about but it is certain that most of the states do not give some soul-lifting attention to the aged. That makes the attention that the First Lady is paying to the aged worthy of emulation by First Ladies in all the states of the federation if their husbands do not have such programmes in their states. If implemented, such programmes have the effect of giving immense joy and fulfilment to these elderly citizens in the evening of their lives. Such joy is immeasurable, because the aged constitute a huge chunk of the persons that are generally ignored in our country. They can be found among the retired military personnel, retired civil and public servants whose pensions and gratuity are often delayed or withheld or paid in bits and pieces or not paid at all for years. And these are people who had served the nation for many years in various capacities until they retired. Why should we pay them back with ingratitude at a time that they deserve our love and affection. The First Lady is showing us the way to treat them. We should in our individual and corporate capacities show them love too.

    The First Lady’s rhetoric is partly derived from her work as a pastor. She told some young persons: “Faith without work is dead. Go and work for this country. Let this country grow.” While President Bola Tinubu and the opposition are having exciting exchanges on such issues as insecurity, economy, hardship, poverty and one party state, the First Lady’s exertions are obviously adding some value to Tinubu’s achievements. That will be Mrs Tinubu’s most important contribution to 2027.

  • Washington’s Taiwan card: Poking China in the eye

    Washington’s Taiwan card: Poking China in the eye

    By Charles Onunaiju

    The U.S latest and most provocative escalation on the Taiwan question; an unprecedented $11.1 billion arms sales to China’s Taiwan region, have drawn China’s decisive countermeasures on U.S. military-linked companies and senior executives and which is neither impulsive nor symbolic but a calibrated step to the provocations.

    The provocative actions of the U.S once again expose a fundamental contradiction at the heart of U.S.-China policy—professing adherence to the one-China principle while steadily hollowing it out in practice. In doing so, the United States is playing with fire in one of the most sensitive fault-lines in global geopolitics.

    The Taiwan question is not a peripheral issue for China. It lies at the very centre of China’s core interests, touching sovereignty, territorial integrity, and national dignity. It is the political bedrock upon which China–U.S. relations rest and the first red line that cannot be crossed. Yet Washington continues to test this boundary, step by step, weapon shipment by weapon shipment, as if erosion through repetition could somehow rewrite political reality.

    The one-China principle is not a concept merely devised by China for diplomatic convenience, but a mainstream norm of international relations that underpins the post–World War II international order. It is copiously reflected in United Nations General Assembly Resolution 2758 in 1971, which restored the lawful seat of the People’s Republic of China at the United Nations and recognized it as the sole legitimate representative of China. By decisively resolving the question of China’s representation and rejecting any arrangement involving “two Chinas” or “one China, one Taiwan,” the resolution provides an essential international legal and political foundation for the one-China principle. This principle constitutes the political basis of China’s relations with all countries, including the United States.

    When China and the United States normalized relations, Washington explicitly acknowledged this reality. Such acknowledgment was neither ambiguous nor optional, but was formally codified in a series of joint political documents that continue to define the parameters of bilateral relations. Any attempt to hollow out or undermine the one-China principle, therefore, goes beyond a diplomatic disagreement; it strikes at the very foundation upon which China–U.S. relations were established and sustained, and put the U.S political credibility and integrity to test.

    The premise governing China–U.S. relations on Taiwan is cast on the pillar of the three Joint Communiqués, each carrying clear obligations for the U.S. side. The 1972 Shanghai Communiqué marked the starting point of normalization between the United States and China. In it, the United States stated that it “acknowledges that all Chinese on both sides of the Taiwan Strait maintain there is but one China and that Taiwan is a part of China.” This was a political acknowledgment of China’s position, reflecting a serious step toward recognition and was never a mere rhetorical courtesy.

    The 1979 Joint Communiqué on the Establishment of Diplomatic Relations consolidated this position and further, the United States formally recognized the government of the People’s Republic of China as the sole legal government of China and committed itself to maintaining only unofficial relations with Taiwan. Official diplomatic recognition of Beijing and military support for Taiwan are inherently incompatible, a game, the U.S has played overtime and cannot sustain without an injury to its credibility.

    The 1982 Communiqué addressed the arms issue directly. In it, the United States pledged that it did not seek a long-term policy of arms sales to Taiwan and that such sales would neither exceed previous levels nor grow in quality or quantity. It also expressed an intention to gradually reduce and ultimately resolve the arms sales issue.

    Today’s reality could not be further from those commitments. Far from reducing arms sales, Washington has expanded them in scale, sophistication, and frequency. What was once portrayed as “defensive” has steadily morphed into systems with clear offensive and strategic implications. The gap between U.S. words and actions has become so wide that credibility itself has fallen through the cracks and the Washington elite must bear responsibility to increasing tensions in one of the world’s most important economic arteries with implications for seamless trade and other crucial economic intercourse to the global community.

    The United States claims that its arms sales are meant to preserve “peace and stability” across the Taiwan Strait collapses under scrutiny and cannot stand the rigour of basic scrutiny. Pouring advanced weaponry into a sensitive region does not extinguish flames; it fans them. It emboldens separatist elements on the island, distorts threat perceptions, and raises the risk of miscalculation.

    Encouraged by U.S. backing, the Democratic Progressive Party (DPP) authorities in the Taiwan region have increasingly indulged in the dangerous illusion of “seeking independence with external support.” Arms purchases are framed as security guarantees, yet in reality, they turn Taiwan into a forward outpost and a potential battlefield. The island is being transformed into a pawn on a geopolitical chessboard, its safety wagered for Washington’s strategic games.

    Meanwhile, Taiwan residents are asked to foot the bill—billions diverted from social welfare, infrastructure, and public services into overpriced weapons that line the pockets of U.S. military contractors. It is a textbook case of selling fear at a premium, offering sugar-coated poison under the guise of security.

    To understand Washington’s behaviour, one must look beyond rhetoric and examine the driving logic behind its actions. In the context of the lingering Cold War mind-set, Washington sees China as a strategic rival and treats Taiwan not as a people to protect, but as a pawn to contain China’s development—a convenient lever along the so-called first island chain. Its massive arms sales are not about Taiwan’s security; they are designed to slow China’s development and obstruct national reunification; a strategy doomed to failure but with considerable latitude to sow chaos in the region.

    Second is the grip of the military-industrial complex. U.S. arms sales to Taiwan are a lucrative treadmill of tension: political figures approve deals while in office, then walk through the revolving door into defence corporations, ensuring that profit continually outbids prudence. Taiwan’s billions are funnelled into weapons that serve Washington’s interests, not the island’s; a Socratic hemlock disguised as protection.

    A perpetually tense Taiwan Strait allows the United States to justify its military presence, assert influence over regional allies, and maintain its self-styled role as the “stabilizer.” Such brinkmanship may serve American ambition, but it does so at the expense of regional stability and the well-being of the Taiwanese people. The popular rhetoric among the Washington elite that Taiwan is deliberately framed as a strategic ambiguity, to provoke Beijing is turning into a poisoned choice, as Washington get served with its own delicacy.

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    China’s principled countermeasures are neither excessive nor arbitrary. They are fully grounded in domestic law, particularly the Anti-Foreign Sanctions Law, and align with international legal principles.  The measures are precisely targeted at U.S. entities and individuals directly involved in arms sales to Taiwan, sparing ordinary citizens and legitimate commercial activity. This restraint underscores China’s responsible and lawful approach, sending a clear message: actions undermining China’s sovereignty will have proportionate consequences.

    More broadly, these countermeasures reveal the true cost of U.S. provocations and expose the pretence of “defensive arms sales.” They curb the overconfidence of separatist forces in Taiwan and reaffirm that external interference cannot alter China’s historical trajectory or determination.

    China’s commitment to peaceful reunification, dialogue, and development, is not passive, and restraint does not imply surrender. On matters of sovereignty, China’s position is firm and uncompromising. The reunification of China is not a question of if, but when—anchored in historical legitimacy, law, and the collective will of the Chinese people.

    China’s resolve is clear, its patience measured, and its determination unwavering. The red line has been drawn. Crossing it will not halt history—it will only hasten the consequences.

    Africa countries, whose muscular cooperation with China are adding crucially to rewriting the region’s prospects, as it strives for economic recovery, inclusive and sustainable development must raise their voices and act in concert to the universal consensus of the “One-China Principle” with its implications for a peaceful and stable international system under which Africa’s renaissance can be sustained and enjoy even brighter prospects.

     •Onunaiju is research director of Abuja based think tank.

  • Africa’s reparations drive; new phase in post-colonial realignment

    Africa’s reparations drive; new phase in post-colonial realignment

    By Stanley Olisa

    For most of the post-independence era, debates over colonial reparations were confined to university halls, activist statements, or sporadic diplomatic remarks. That is no longer the case. In recent months, African leaders have begun to articulate a proposition that moves beyond rhetoric: a coordinated continental claim for reparations from the United Kingdom and other former colonial powers.

    The latest indication of this shift came at a conference in Algiers, where diplomats and policymakers gathered to advance an African Union (AU) resolution calling for colonial crimes to be formally recognised, criminalised and addressed through reparations. As Algeria’s Foreign Minister Ahmed Attaf put it, this is about asserting that “Africa is entitled to demand the official and explicit recognition of the crimes committed against its peoples during the colonial period,” and that such recognition is “an indispensable first step towards addressing the consequences of that era” that still weigh heavily on the continent’s political and economic landscape.

    This is neither symbolic nor academic. The AU resolution builds on discussions earlier this year in Addis Ababa, where member states debated, formally defining colonialism as a crime against humanity. That framing, if codified within international law, could reshape the legal architecture for claims against former colonial powers, allowing African states to pursue claims collectively rather than piecemeal.

    One of the most notable contributions to this emerging climate came from Nigeria in September, when Senator Prince Ned Nwoko submitted a formal demand for $5 trillion in reparations to the British government, not as an isolated plea but as a potential blueprint for a broader AU strategy. While London rejected the claim, the incident highlighted that the moment has moved from the periphery into active diplomatic exchange.

    The British government has consistently resisted legal reparations, asserting that its modern relationships with African nations should be viewed in terms of partnership rather than historical liability. But, official positions and public sentiment are increasingly at odds. Across Africa and the diaspora, there is a growing insistence that colonialism be treated not as a distant chapter but as a foundational force whose legacies persist in contemporary governance, economies and social structures.

    Economic historians estimate the scale of colonial extraction in Africa in the trillions of dollars, as European powers siphoned natural resources- from gold and diamonds to rubber and agricultural commodities- with little benefit returned to local populations. What remains less debated but increasingly visible is the institutional design left behind: borders drawn without regard to ethnic or social realities, financial systems oriented towards external investors rather than internal development, and legal frameworks that privileged extraction over equitable governance. These structures did not dissolve at independence; they were inherited.

    The reparations conversation is not limited to Africa’s borders. Caribbean nations, organised under the CARICOM Reparations Commission, have for years pursued reparatory justice from former colonial states, including Britain. Their 10-point plan encompasses a range of measures from formal apologies and debt cancellation to educational programmes and cultural restitution. Although European governments have largely rejected these claims, the persistence of the Caribbean agenda has kept reparations within the global diplomatic discourse.

    For many African policymakers, the Caribbean example demonstrates both the complexity and the potential of a sustained, structured reparations strategy. A unified African approach could harness legal expertise, diplomatic leverage and historical research to make claims that are difficult to dismiss as purely symbolic.

    There are also concrete legal precedents that illustrate how historical injustices have been addressed. A notable example is the settlement between the British government and Kenyan victims of the Mau Mau uprising, in which the UK agreed to pay compensation to thousands of former detainees and issued an official expression of regret. While not framed as reparations for colonial rule per se, it shows that legal avenues exist to acknowledge past wrongs and provide redress.

    Beyond legal considerations, the cultural dimension remains potent. Artefacts removed during colonial conquests, such as sacred objects and royal treasures that now reside in European museums, continue to spark debate over cultural ownership and restitution. For many Africans, the return of such items represents a reclaiming of historical narrative and identity, an attempt to redress the erasures that often accompany conquest.

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    Another indicator of this broader intellectual shift is how younger generations are engaging with history. Access to digital archives, documentaries and online discussion has changed how young Africans view empire and its aftermath. Works like ‘From Slaves to Bond’ have circulated widely on social media, connecting historical events to present-day political and economic questions without reducing them to simplistic grievances. The impact of such content reflects a deeper public interest in understanding how the past shapes the possibilities of the future.

    Critics argue that focusing on reparations could distract from domestic governance challenges. However, this framing obscures the fact that many of those challenges, like underdevelopment, debt dependence, and institutional fragility, are tethered to systems designed in the colonial period. Addressing historical injustice, therefore, is not a detour from development but part of disentangling post-colonial states from structures that have impeded self-determination.

    The path ahead will not be linear. Legal definitions must be clarified, diplomatic strategies calibrated and political will sustained across diverse African states with differing priorities. Former colonial powers are likely to resist far-reaching claims, and there is no guarantee of swift or substantial material restitution.

    But the significance of the current moment is not limited to financial equations. What is unfolding is a continental assertion that history cannot be compartmentalised or deferred. The conversation in Algiers and the ensuing discussions among African capitals demonstrate a growing consensus that the economic, political, and cultural legacies of colonialism still matter in concrete ways.

    Whether Britain and other European states choose to engage with these claims seriously remains an open question. What is clear, however, is that the dialogue has shifted: from isolated national appeals to continental coordination and from moral lament to strategic planning. In doing so, African states are staking a claim not just to compensation but to a more equitable understanding of global history and its ongoing consequences.

  • Disorderly rites of orderlies’ recall

    Disorderly rites of orderlies’ recall

    Nigeria is blighted by the ‘big man’ syndrome that modulates everyday conduct of our national affairs. Hence, the 23rd November order by President Bola Ahmed Tinubu that police orderlies be recalled from Very Important Persons (VIPs) and reassigned to core policing functions have met with all manners of pushbacks against which the President seems to be holding his ground. The question is: will he hold firm against the pushbacks?

    Senate President Godswill Akpabio recently mouthpieced the objection by members of the National Assembly (NASS) to the presidential directive. At a joint sitting of the Senate and the House of Representatives for presentation of the 2026 national budget by President Tinubu on Friday, 19th November, he said lawmakers were worried that the withdrawal of their police orderlies put them at risk, such that many were hesitant to visit their respective constituency community for the Yuletide out of fear for personal safety. According to him, such concerns compelled the leadership of NASS to formally appeal to the President for a review of the directive, given the need to ensure adequate protection of elected representatives and other vulnerable targets.

    The President had, in November, ordered the withdrawal of police personnel providing security for VIPs across Nigeria and their redeployment to core policing duties to address security challenges besetting the country. He said VIPs requiring security cover should source armed operatives from the Nigeria Security and Civil Defence Corps (NSCDC), rather than rely on police personnel. But he also stressed that the recall of police officers on special protection duties should be done in a way that would not leave people exposed.

    In his response after the President had presented the budget address, Senate President Akpabio said: “Only one concern, Mr. President. As we direct the security agencies to withdraw policemen from critical areas, some of the National Assembly members said I should let you know that they may not be able to go home today because they may be picked up (by bandits). So on that note, we plead with Mr. President for a review of the decision. May God bless you, may God bless the Federal Republic of Nigeria and may God bless our National Assembly.”

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    Just a few days earlier, indications had emerged of a brewing political standoff between the executive and legislative arms as senators alleged being targeted with selective implementation of the presidential order recalling police orderlies while numerous political and business personalities yet retained police protection. This, the lawmakers argued, undermined the objective of recalling police personnel for redeployment to address the country’s insecurity challenge.

    The complaint by senators came to a head following a motion raised by Senator Abdul Ningi (PDP, Bauchi Central) through a point of order by which he informed the chamber that his only police orderly was withdrawn in the early hours of the previous day. Ningi demanded that enforcement be carried out across board in the spirit of fairness and equity, saying: “Let’s see what happens from the office of the President, to the Vice-President, to the Senate President, to the Speaker of the House, to ministers.” He argued that enforcement of the presidential directive was clearly uneven: “I saw two convoys of ministers and they were carrying lots of security personnel. Mr. (Senate) President, I have also seen business concerns, Chinese and other businessmen with their complements of orderlies. I have also seen daughters and sons of political officeholders having orderlies and having security cover.”

    The Bauchi senator underscored the indignity lawmakers feel by being targeted first: “I saw singers having orderlies and complementary protection. I cannot ever imagine that a senator of the Federal Republic of Nigeria, who has been here for a very long time, will have his only one orderly withdrawn.” He made clear he could protect himself, only there should be equitable application of the presidential order: “I can take care of myself, but let this be done across board. Let me not see governors, ministers and business tycoons being escorted by security personnel… The National Assembly should not be used as scapegoat.”

    In his submission, Deputy Senate President Barau Jibrin, who presided at the session informed senators that the leadership was actively lobbying the Presidency for an exemption of members. “I want to assure you that the issue raised to protect you is being taken seriously, and that at the leadership level we have agreed that the course of action should be reviewed to restore your police orderly to you, because this is in line with international practice,” he said. Barau expressed hope for a positive outcome: “I’m sure we have a listening President. He will listen to us and, by God’s grace, he will save us from that order, which obviously was given in good faith.”

    The senators’ complaints coincided with the President doubling down on his directive during a Federal Executive Council (FEC) meeting at the Presidential Villa. He insisted on total compliance with the order recalling police special protection operatives from VIPs, stressing the critical need to redeploy such personnel to areas grappling with kidnapping and terrorism. The President restated his directive that anyone who must have special police protection must obtain his explicit clearance through the Inspector-General of Police (IGP). “I told the IGP, and I hope the Minister of Police Affairs is here. If you have any problem of security because of the nature of your assignment, please contact the IGP and get my clearance.”

    The President as well directed agencies concerned to coordinate deployment of replacement personnel swiftly. He said: “The Minister of Interior should liaise with the IGP and Civil Defence structure to replace those police officers who are on special security duties, so that you don’t leave people exposed.” For avoidance of doubt over implementation of the recall order, he said: “It should be effected. We face challenges of kidnapping and terrorism; we need all the forces we can utilise.” He restated that concession would be made for those who are genuinely exposed: “I know some of our people are exposed and I understand that we have to make exceptional provision for them. The Civil Defence are equally armed, and I want NSA (National Security Adviser) to ensure our forest guards are armed too. So, take it very seriously.”

    Even principals of the judicial arm of government raised issues with the presidential order. Taraba State Chief Judge Joel Agya complained that withdrawal of police orderlies attached to judges exposed them to security risks, and appealed that judicial officers be exempted considering the nature of their job. Speaking when State Police Commissioner Betty Otimenyin, paid him a courtesy visit in Jalingo, he said: “Even though the President directed the withdrawal of police guards from VIPs nationwide, the Force Headquarters had earlier exempted judges because the law entitles them to police protection.” Yet, according to him, orderlies attached to judges in Taraba State were withdrawn on 8th December without prior notice.

    Describing the development as a significant threat to the administration of criminal justice, the chief judge said judges handling sensitive political, criminal, terrorism and corruption cases faced heightened personal risk, with the withdrawal of orderlies likely to compromise judicial independence and embolden intimidation within and outside the courtroom.

    Following the chief judge’s claim, though, Chief Justice Kudirat Kekere-Ekun has denied that police orderlies of judicial officers were withdrawn.

    By the time all solicited exemptions get factored in, the presidential order might end up neutered. Over more than two decades, successive IGPs have tried to scale back special protection services to VIPs but have all fallen flat on implementation; apparently so because not only the VIPs want to keep their orderlies, but police operatives themselves favour – indeed, actively lobby – for the offbeat posting that is far more rewarding in perks while being less hazardous than core policing functions. Even for the police institution, special protection services constitute a cash cow. Meanwhile, a report in November by a European Union agency indicated that more than 100,000 officers were deployed on VIP protection out of a total police workforce of about 371,000 that should serve a population of some 230million Nigerians. Incumbent IGP Kayode Egbetokun rejoined that only 11,566 personnel were attached to VIPs, however.

    All the ‘big men’ want special protection. But what about other Nigerians, unless something decisive is done to secure the space for the safety of everyone including the VIPs? That is where efforts should be focused, not on exemptions that allow special protection for only a few. Happy New Year to all my readers in advance!

    •Please join me on kayodeidowu.blogspot.be for conversation.

  • 2026: Rethinking pensions, credit, and housing for citizens

    2026: Rethinking pensions, credit, and housing for citizens

    • By Chibundum Chioma Udeh

    As Nigeria enters a new year, fixing the housing crisis requires unblocking long-term savings, rethinking credit, and aligning monetary policy with how ordinary citizens live, work, and build.

    Nigeria’s housing crisis sits at the intersection of rising construction costs, inaccessible pension savings, and prohibitively expensive credit. For millions of working Nigerians, this combination has quietly turned the dream of home-ownership into a distant and often unattainable goal.

    Across the country, many citizens are formally employed and consistently contribute to pension accounts. Their aspirations are modest: to build or buy a small home before retirement. Yet these long-term savings remain locked away throughout their working lives. When contributors turn to credit as an alternative, they encounter interest rates so high that borrowing becomes financially destructive rather than empowering.

    This contradiction lies at the heart of Nigeria’s housing failure. People hold long-term savings but cannot deploy them for long-term needs such as housing, while the credit available to them is short-term, expensive, and poorly suited for incremental home construction or small business growth.

    Microfinance banks illustrate this challenge clearly. Loans are often advertised at rates of about 3.87 percent per month, a figure that may appear manageable at first glance. In reality, such a rate compounds to roughly 46 percent annually and close to 93 percent over two years, excluding administrative fees and other charges. A borrower who takes N10 million could repay nearly N20 million within 24 months.

    For small businesses, these terms are equally crippling. Many rely on loans for working capital, yet interest obligations consume profits before sales even stabilise. As a result, businesses shrink instead of grow, employment opportunities decline, and local production remains weak. The effects ripple through the economy, reduced productivity, rising unemployment, and increased social pressure.

    Read Also: FG did not give Makinde N50bn, only N30bn was released – Aide

    Housing finance faces similar structural barriers. The Federal Mortgage Bank of Nigeria (FMBN) often encourages prospective homeowners to purchase completed properties before accessing mortgage financing. This model excludes most Nigerians, who typically build gradually as income allows. Completed homes are expensive, and mortgage availability remains constrained by the limited long-term funding available to banks. Without patient capital, affordable mortgages remain scarce.

    The pension system, which should ideally help bridge this gap, offers little relief. Although Nigeria’s contributory pension scheme permits contributors to use part of their pension as equity for mortgages, the process is bureaucratic, opaque, and difficult to access. Multiple layers of gatekeeping discourage participation, leaving pension savings effectively untouchable until retirement even though securing housing is one of the primary reasons people save.

    The consequences are far-reaching. First, current financial and housing policies push home-ownership beyond the reach of ordinary Nigerians. Most people build slowly, stage by stage. Short-term loans with monthly compounding interest are fundamentally incompatible with this reality. Unsurprisingly, buildings remain unfinished for years or are abandoned entirely.

    Second, high-cost credit discourages investment and job creation. Small and medium-sized enterprises struggle to survive under such conditions. Rather than expanding and hiring, businesses cut costs or close altogether, worsening unemployment and social instability.

    Third, families become trapped in a cycle of vulnerability. They cannot access affordable loans, cannot use their pension savings productively, cannot purchase completed homes, and cannot wait until retirement to secure shelter. Housing insecurity thus reinforces long-term poverty.

    Nigeria’s monetary framework compounds these challenges. The Central Bank of Nigeria’s Monetary Policy Rate (MPR) currently around 27 percent sets a benchmark that commercial and microfinance banks must exceed. While intended to manage inflation and exchange-rate pressures, this approach has the unintended effect of pricing long-term credit far beyond the reach of households and productive enterprises. In an economy where inflation is largely driven by structural and cost factors, such as insecurity, import dependence, and weak local production, high interest rates alone cannot resolve the problem.

    Importantly, expanding long-term credit does not require abandoning monetary discipline. The Central Bank of Nigeria can expand long-term credit without undermining its core mandate by using the MPR more flexibly and deploying targeted instruments alongside it. While the MPR can remain the anchor for short-term liquidity and inflation control, the CBN can introduce differentiated long-term refinancing windows for housing, MSMEs, and other productive sectors, priced below the headline rate and supported by strict eligibility and monitoring. Channelled through mortgage banks, development finance institutions, and the Nigeria Mortgage Refinance Company, such facilities would allow long-tenor lending to coexist with a tight monetary stance, ensuring that inflation control does not come at the expense of housing supply, enterprise growth, and financial inclusion.

    Other countries demonstrate that better systems are possible. In the United States, long-term mortgage markets allow households to borrow for 15 to 30 years at relatively stable rates, supported by deep capital markets. Workers may also access regulated loans from retirement accounts for housing, under safeguards that protect future income. South Africa uses pension-backed housing guarantees, where pension assets serve as security rather than direct withdrawals, reducing lender risk and lowering interest rates. The United Kingdom combines fixed-rate mortgages with targeted savings schemes to support first-time buyers.

    These models share a common principle: citizens are not left stranded between locked-up savings and punitive credit. Instead, systems are designed to connect long-term savings with long-term housing needs.

    As a way forward, Nigeria must simplify and expand the pension-to-mortgage framework (with clear timelines for application handling, openness, transparency and equity) so workers saving over decades can use a regulated portion of their pension to secure housing earlier in life with more ease. This is not about draining retirement accounts, but about designing transparent, ease and safe mechanisms that lower borrowing costs.

    The country also needs deeper pools of long-term mortgage finance. Institutions such as the Nigeria Mortgage Refinance Company and the Federal Mortgage Bank must be strengthened to provide stable capital that allows primary mortgage banks to offer longer tenors at affordable rates, and a more simplified and verifiable process. This must come with strict accountability and open reporting systems and requirements.

    Finally, greater transparency is needed in lending. Borrowers deserve clear disclosure of the real annual cost of loans. Housing policy must also reflect lived realities through incremental housing schemes, serviced plots, and well-structured public-private partnerships.

    As Nigeria steps into a new year, the housing crisis should no longer be treated as an inevitable burden or a distant policy concern. It is a daily reality visible in half-completed buildings, in families struggling to balance rent with school fees, and in workers who save faithfully yet cannot translate those savings into security and dignity.

    A system that locks away people’s long-term savings while pushing them toward crippling short-term loans and unregulated increase in rent is not sustainable especially if the government is not doing much to open and expand the building construction market to allow more supply and lower cost of materials. But it is also not irreversible. With deliberate reforms linking pensions to housing more effectively, expanding long-term credit through targeted monetary instruments, and aligning housing policy with how Nigerians actually live and build the country can begin to turn aspiration into access.

    The new year offers Nigeria a choice: to maintain a system that quietly excludes the majority, or to build one that allows ordinary citizens to save, borrow, and build with confidence. Housing should not be a privilege reserved for the few; it should be part of the promise of work, contribution, and citizenship.

    If Nigeria is serious about shared prosperity, stability, and hope, then unblocking the path between the savings Nigerians already have and the homes they are trying to build would be a fitting place to begin.

    •Chibundum Chioma Udeh is a Project Officer at Saabi Findings Impact Consulting.

  • Navigating Nigeria’s $1 trillion roadmap

    Navigating Nigeria’s $1 trillion roadmap

    • By Nosa Iyamu

    As we navigate the threshold of 2026, the Nigerian economic landscape is finally shedding the “survivalist” skin that defined the previous two years. The data from 2025 paints a compelling picture of a nation pivoting toward stability. Headline inflation, which sat at a staggering 34.8% in December 2024, underwent a significant decline through 2025, cooling to 14.45% by November. This disinflationary trend, paired with economic reforms such as the Nigerian Electricity Regulatory Commission’s (NERC) aggressive reforms and strategic shifts in the oil and gas sector, has effectively reopened the floodgates for Foreign Direct Investment (FDI). The narrative has shifted from a desperate scramble for survival to a strategic quest for sustainability. Investors who were once hesitant are now looking at Nigeria not as a volatility risk, but as a market undergoing profound structural re-engineering. This transition is marked by a renewed focus on transparency and a commitment to market-driven policies that reward institutional resilience and long-term planning.

    Building on the stability achieved last year, 2026 is projected to be a period of “Growth Consolidation.” With GDP expansion forecast between 4.1% and 4.2% and headline inflation expected to settle into a manageable range of 12.5% to 20%, the mandate for brands should shift. It is no longer about merely surviving the storm of volatility; it is about scaling within high-impact corridors that have been cleared by these macroeconomic reforms.

    Strategic opportunities are ripening in four key sectors: Energy, driven by the Electricity Act 2023 and NERC’s cost-reflective market reforms; Healthcare, anchored by the landmark $5.1B Bilateral MOU between the U.S. and Nigeria; Financial Services, fuelled by post-recapitalization lending power; and the Digital Economy, accelerated by the 5G rollout and the maturity of social commerce. Brands playing in these spaces and other industries must recognize that the consumer of 2026 is more discerning, having been refined by the economic hardships of the past, and will only reward businesses that offer clear value and authentic connection.

    Read Also: FG did not give Makinde N50bn, only N30bn was released – Aide

    Perhaps the most pivotal anchor for 2026 is that $2 billion bilateral health Memorandum of Understanding (MOU) signed between the U.S. and Nigeria. This five-year agreement, which began its full implementation cycle in early 2026, is far more than a healthcare play; it is a massive economic stimulus and a resounding vote of global confidence in Nigeria’s institutional reforms. It signals that Nigeria is ready for high-level international cooperation and that the groundwork for a stable, productive economy is being laid. As we march toward the ambitious goal of a $1 trillion economy by 2030, visibility is no longer the endgame for any serious brand. To survive and thrive during this transition from subsistence to high productivity, brands must be deeply understood. It is about moving from the “top of mind” awareness to “top of heart” resonance, where the brand’s purpose aligns with the aspirations of a nation on the move.

    In the fast-evolving communications landscape of 2026, visibility has become a cheap commodity, but clarity is a premium asset. The public relations industry has officially entered the era of Narrative Intelligence. Traditional Search Engine Optimization (SEO) is being rapidly superseded by Generative Engine Optimization (GEO). As consumers increasingly rely on AI agents and large language models (LLMs) rather than scrolling through pages of search results, brands must ensure they aren’t just “present” on the web—they must be cited as authoritative, credible voices by AI models. This requires a shift from keyword stuffing to high-context storytelling and data-backed authority. If an AI agent cannot summarize your brand’s value proposition accurately in two sentences, you are effectively invisible to the next generation of digital consumers. Narrative Intelligence is about ensuring your brand’s story is coherent, consistent, and machine-readable across all digital touchpoints.

    However, this AI-driven world brings a darker side – the proliferation of Deepfakes and hyper-realistic misinformation. As the 2027 political cycle begins to warm up in late 2026, the Nigerian digital space could become a minefield of synthetic media designed to manipulate public opinion. For brands, this represents a significant reputational risk. PR professionals must now act as “Narrative Bodyguards,” deploying advanced AI detection tools to monitor, detect, and neutralize synthetic media before it erodes brand equity. Authenticity is no longer a buzzword or a marketing slogan; it is a defensive necessity. Brands must lean into “Responsible Communication,” ensuring that every piece of content is verifiable and that their response mechanisms for crisis management are faster than the speed of a viral deepfake. Trust, once lost in this high-speed environment, is nearly impossible to regain.

    The era of the “Press Release for the sake of it” is officially dead. In 2026, Nigerian boardrooms are demanding a direct, quantifiable line between PR activity and business impact. This marks the definitive death of vanity metrics. Success is no longer measured by the thickness of a press clipping file or the number of generic “likes” on a social media post. Instead, we are seeing a shift from volume to impact, where the primary KPIs are how a campaign drives customer acquisition, increases investor interest, or improves employee retention. Measurement has shifted focus to quality over quantity; it is about the sentiment of the conversation and the conversion rate of the audience. If your PR strategy does not move the needle on the set measurable objectives, it is considered mere noise. PR is now a performance-driven discipline, integrated deeply into the sales and growth funnels of the modern Nigerian enterprise.

    The age of the N100 million celebrity brand ambassador is also rapidly fading. Battle-hardened by years of economic shifts and broken promises, Nigerian consumers are increasingly sceptical of high-gloss, low-substance celebrity endorsements. In 2025, the Creator Economy has professionalized and matured. We will see the ascendancy of Niche Creators—the personal finance expert on TikTok, the sustainable farmer on YouTube, or the tech-policy analyst on Instagram. These voices offer what traditional celebrities cannot: community, deep credibility, and a mastery of their craft. Brands in 2026 will pivot toward long-term “Responsible Communication” partnerships with these creators who speak the hyper-local language of their audience. The “next big creator” is no longer a movie star; they are a subject matter expert with a loyal, high-intent community that values authentic insight over superficial fame.

    While we must continue to support and prioritize independent media platforms to maintain democratic health, the reality is that traditional newsrooms continue to shrink under the weight of digital disruption. In response, savvy brands are increasingly becoming their own media houses. “Owned Media”—newsletters, podcasts, proprietary research reports, and custom-built community platforms—is the new frontier for brand storytelling. By owning the platform, brands can ensure their story is not diluted or lost in the noise of a fragmented media landscape. This allows for Direct Empathy, speaking to the consumer’s daily reality without a third-party filter. It provides Narrative Control, which is essential in an era of deepfakes, and grants Data Ownership, allowing brands to deeply understand who is engaging with their story and why. Owned media is the bridge that moves a brand from being seen to being truly understood and must be a strategy for 2026.

    The 2026 landscape is a high-stakes arena of immense complexity and opportunity. With the active involvement of global powers like China, Russia, and the USA in trade and commerce, and a renewed national commitment to fighting insecurity to protect the $1 trillion goal, Nigeria is a land of profound transformation. But for a brand to capture this opportunity, it must move beyond the surface-level metrics of the past. Brands must empathize through genuine partnerships, drive cross-sector collaboration, and tell stories that resonate with the Nigerian spirit of resilience.

    The verdict for the year is clear: Trust is the new currency. In a world of AI-generated noise and economic restructuring, the brands that win will be those that have spent the time to build a foundation of understanding. The mandate for 2026 is simple: Don’t just show up. Ensure your audience knows exactly who you are, what you stand for, and why you are essential to their future.

    •Iyamu is a public relations executive.

  • Ekiti: A focus on proven delivery

    Ekiti: A focus on proven delivery

    • By Tunrayo Alatise

    THE goal from day one for the Ekiti State Governor, Mr. Biodun Abayomi Oyebanji, aka BAO, has been to build a State that works for everyone, across all strata, from farmers to traders and artisans. In other words, that Oyebanji has been investing in the people, infrastructure, and in systems that promote fairness, innovation, sustainable growth and security has not come as a surprise. The progress the government has made so far is a reflection of what is possible when leadership meets genuine public interest.

    ​Since assuming office in 2022, BAO has initiated radical restructuring to improve the state’s economy. He has created new ministries, agencies, and boards to promote development across the state. As of August 2023, Ekiti State’s internally generated revenue (IGR) has seen an upward trend, with revenue performance at 103% and a budgetary capital performance of 60.6%. Efforts to eliminate existing loopholes that impede revenue collection are ongoing.

    ​A total sum of N1.5 billion has been allocated for the expansion and rehabilitation of 177 primary healthcare centres to enhance healthcare delivery. Efforts also include improving electricity supply and constructing access roads to support industrial development. This includes connecting several towns and villages to the national grid and revitalizing ongoing road projects like Ado-Iworoko road, Ilawe-Igbara Odo road, Ilawe-Igede road, Ikole-Ara-Isinbode road, Ado township road, and more.

    ​The state government has recruited 2,000 teachers and initiated the construction of two Model Schools in Ikere and Ikole to improve access to education and raise the state’s ranking in public examinations. The old Civil Service Commission building has been reshaped and rehabilitated to house a new Customary Court of Appeal, for the overall purpose of facilitating the swift administration of justice. Efforts are also underway to connect the agricultural zone to the national grid to boost agriculture and create job opportunities for the youth, which will help curb joblessness and crime.

    ​In Ekiti, the commitment to development, prosperity, and the welfare of the people is a central focus of the administration. The administration has introduced mobile health initiatives and improved access to quality care in underserved areas. Reconstruction and expansion of major roads across all senatorial districts have eased movement, boosted commerce, and connected rural communities to urban centers in an environment of sustainable peace and security.

    Oyebanji’s inclusive leadership style has fostered unity, peace, and a sense of ownership among Ekiti citizens. His administration listens, learns, and leads with the people at the center of every decision. BAO has not been reckless with spending. This is confirmed by the consistent ranking of Ekiti State top in fiscal responsibility, budget transparency and civil service reforms. The governor has also strengthened some functional institutions, such as the ultra-modern Ministry of Works Complex at Ajilosun in Ado Ekiti, the state capital, which stands as a symbol of order and efficiency.

    Read Also: Naira rebounds, gains N1.65 against dollar at official market 

    ​A critical examination of Ekiti state’s economy under Oyebanji reveals a strategic focus on key sectors. A review of economic activities in the state underscores the pivotal role of agriculture as a catalyst for development. The relationship between agricultural productivity and industrialization is clear, with the former serving as a foundation for the latter. Indeed, the approach recognizes the interconnectedness of economic development and the need for a holistic strategy that prioritizes agriculture as a driver of progress.

    ​The Oyebanji-led government has prioritized economic growth. He has also invested in infrastructure development, including road construction and renovation. Over 350 kilometers of roads have been covered, with 126 kilometers completed across all the sixteen local government areas. Add to this the Ekiti Agro-Allied International Cargo Airport project, which has made significant progress in Oyebanji’s time, with the Federal Government granting approval for commercial flight operations effective October 4, 2025. With its inauguration of commercial flights on December 10, 2025, the project is expected to boost the state’s economy, particularly in agribusiness, tourism, commerce, and medical tourism.

    ​Oyebanji’s administration has rehabilitated over 1,000 classrooms and constructed 30 new ones. The Smart School initiative at some Government Colleges is another notable project. Additionally, the Ekiti Youth Economic Empowerment Programme (E-YEEP) has provided grants, vocational training, and business support to thousands of young entrepreneurs.

    ​The administration has supported farmers with inputs, credit, mechanized tools, and guaranteed offtake markets. ​The Ilumoba-Ijesa-Isu to Ikole 33kV line is an example of efforts made at improving electricity supply, while 121 boreholes have been rehabilitated and 110 solar-powered water pumps installed for schools and health centers.

    ​The Ekiti State Food Security Project, including the Ile-Eye Aggregation Hub and Ounje Ekiti retail outlet, aims to solve post-harvest losses, inadequate storage, hoarding, and exploitation by middlemen. ​The ‘Bring Back the Youths in Agriculture’ initiative has provided training and funding for young farmers, while the Ekiti State Agricultural Farm powerhouse focuses on maize and cassava production.

    ​Ekiti State has made significant strides in enhancing security, with BAO’s administration implementing various measures to protect citizens. The state has been recognized as one of the most peaceful in Nigeria, thanks to the governor’s proactive approach to addressing security challenges.

    Beyond physical infrastructure and sectoral reforms, Governor Oyebanji has demonstrated an unwavering commitment to the social contract, particularly with the state’s workforce and retirees. His administration has consistently prioritized the timely payment of salaries, pensions, and gratuities, settling substantial arrears inherited from previous eras. This commitment to fiscal stability and the welfare of civil servants – including the continuous implementation of the Contributory Pension Scheme (CPS) – has restored morale, earned the trust of labour unions, and reaffirmed the dignity of public service in Ekiti State.

    ​Furthermore, the administration is strategically positioning Ekiti for the 21st-century economy by investing heavily in the digital future. Initiatives like the ongoing Ekiti Knowledge Zone (EKZ) project, complemented by the launch of the Ekiti Startup Garage, are designed to harness the state’s intellectual capital. These efforts aim to create a thriving hub for innovation, technology, and entrepreneurship, ultimately generating thousands of direct and indirect jobs and injecting new capital into the state’s economy by fostering a globally competitive digital workforce.

    Again, thanks to the governor’s deliberate investments in farming and allied activities. His strategic moves have also yielded impressive governance results, ranking 5th in Nigeria’s governance performance index with a score of 64.5%, according to the CIAPS Governance Performance Index (CGPI) report. These achievements are expected to create jobs and improve residents’ livelihoods.

    ​These are just a few of the achievements that demonstrate Oyebanji’s commitment to Ekiti State’s development and his vision for a prosperous future. Reflecting their impact, BAO has earned himself accolades and recognitions from various institutions and organizations for his outstanding leadership and development initiatives in the State.

    ​Oyebanji indeed deserves a second term in office. Since he has laid the credentials for good governance, he deserves the trust and confidence of the people. Having delivered on his promises, he should be given the opportunity to serve again.

    • Mrs. Alatise wrote from Ilawe, Ekiti State.
  • Nigeria’s tax reform: Game-changer with missing pieces

    Nigeria’s tax reform: Game-changer with missing pieces

    By Collins Okeke & Mary-Cynthia Okundaye

    President Bola Ahmed Tinubu made history by signing into law four comprehensive tax reform bills that promise to transform Nigeria’s revenue generation landscape fundamentally. The Nigeria Tax Act (NTA), the Nigeria Tax Administration Act (NTAA), the Nigeria Revenue Service Act (NRSA), and the Joint Revenue Board Act (JRBA), collectively referred to as “the Acts,” represent the most significant overhaul of Nigeria’s tax system in decades.

    These new Tax Acts introduce sweeping changes designed to drive economic growth, increase revenue generation, improve the business environment, and enhance effective tax administration across different levels of government. The reforms represent a fundamental shift from multiple, fragmented tax laws to a single, consolidated framework that eliminates overlapping, conflicting, or ambiguous provisions while streamlining Nigeria’s tax system.

    The missing link: non-tax revenue

    However, despite these comprehensive reforms, a critical gap remains in Nigeria’s revenue strategy. The new legislation focuses almost exclusively on tax revenue, leaving vast non-tax revenue opportunities untapped. There should be additional legislation to address non-tax revenue. This is important given Nigeria’s current fiscal challenges, which are starkly illustrated by the 2025 budget figures.

    Nigeria’s 2025 budget reveals the magnitude of the revenue challenge facing the country. With a total expenditure of N54.99 trillion and projected revenue of only N41.81 trillion, the country faces a staggering deficit of N13.08 trillion, representing approximately 31% of total government revenue and 1.52% of GDP. This deficit is among the largest on record for Nigeria.

    Most concerning is how this deficit will be financed. The Minister of Finance has clarified that the N13 trillion deficit will be financed through borrowing, which will add to Nigeria’s already substantial debt burden. With additional borrowing of N9.2 trillion targeted for 2025, Nigeria’s public debt could exceed N150 trillion by the end of 2025.

    Read Also: Nigeria Tax Act 2025 and legislative fidelity

    The constitutional framework already provides for extensive non-tax revenue opportunities. Section 162 of the Constitution defines the Federation’s “revenue” to include any income or return accruing to the Government of the Federation from any source, including receipts arising from the operation of any law, returns from government property, and interest on loans and dividends.

    The potential for non-tax revenue generation is staggering and could significantly reduce Nigeria’s reliance on deficit financing. Expert estimates suggest Nigeria could generate close to N100 trillion from various non-tax sources, including:

    It is estimated that there are about 50,000 abandoned federal projects across the country valued at over N10 trillion. This is in addition to the federal government’s landed property across Nigeria, estimated modestly at N5 trillion. The Ministry of Finance Incorporated (MOFI) is a federal government investment agency that holds N30 trillion worth of federal government assets. The Federal Secretariat in Ikoyi, Lagos alone is worth at least N120 billion and has been abandoned for over 40 years. Appropriate frameworks need to be developed to monetize these assets.

    Local content enforcement

    Local content is a policy that ensures that there is “Nigerian content” (local content) in the execution of projects. It is mostly applied in the Oil and Gas industry by the Nigerian Oil and Gas Industry Content Development Act. Local content policy creates indigenous jobs and retains revenues that would have otherwise gone abroad. Local content policy in oil and gas has been successfully implemented in engineering, but not in other services like legal, banking, insurance, and shipping. Local content will need to be vigorously implemented under the Local Content Act. This will bring huge revenue accruals and jobs. Experts estimate Nigeria loses over $1 billion yearly from non-enforcement of local content in legal services alone. Imagine the loss from banking, insurance, and shipping.

    The value of the Nigerian Housing Inventory is estimated at over $6 trillion, but 80% of properties in Nigeria are dead capital. They have no revenue value, and this is largely traceable to a lack of proper documentation and titling, such as a Certificate of Occupancy. Without these, the owners can’t sell the properties easily, use them as collateral for loans, or attract investment. The solution is a massive reform of property titling to link property to the financial system. This will bring dead capital to life and transform it into revenue which banks can recognize as collateral to benefit the economy. This will massively generate revenue and inject needed cash into the economy.

    Port infrastructure revenue

    This is potentially the largest economic sector outside oil and gas. A report by a Dutch consultancy firm, Dynanmar, shows that Nigeria loses about N20 billion daily (which annually is about N8 trillion) at the Lagos ports due to poor infrastructure. In other maritime sectors, Nigeria is estimated to be capable of generating N7 trillion annually and four million jobs over four years, but to deliver this, the following needs to be done: overhaul of ports infrastructure, Cabotage enforcement, the passage of critical maritime legislation like the Maritime Zones Bill, Ports Harbour Bill, etc. These laws, when passed, will generate non-tax revenue and attract massive investments in the sector.

    Satellite technology revenue

    Space is the next big investment arena. Space infrastructure companies received a record $14.5 billion of private investment in 2021, and the numbers are growing. These companies are ushering in next-generation small satellite capabilities with enormous value to commercial and government customers, including organizations in energy, mining, manufacturing, transportation, finance, security, agriculture, and communications. For Nigeria to fully derive benefit from these opportunities in terms of investments and development, including revenue and jobs, the 2006 Space Policy and the 2010 National Space Research and Development Agency (NASRDA) Act need to be updated. The government needs to issue an Executive Order mandating Ministries, Department and Agencies (MDAs) to procure only satellite data generated by NASRDA.

    Judgment debts

    Nigeria’s federal government is owed approximately N5.2 trillion in judgment debts by over 5,000+ debtors across ten (10) Ministries, Departments and Agencies (MDAs). These debts are in the form of debt liabilities to the Federal Inland Revenue Service (FIRS); refunds to the government by companies who failed to deliver on projects for which payment had been effected, unpaid credit facilities granted to both corporate entities and individuals by the Bank of Industry (BOI) and Bank of Agriculture (BOA); judgment debt in favour of government, debts owed Pension Transitional Arrangement Directorate (PTAD) by insurance companies etc. To recover these debts, there needs to be an inventory of all debts owed to the federal government. The federal government also needs to put in place an appropriate policy and legal framework to facilitate the recovery of these debts.

    Looking forward

    While the tax reform bills represent a monumental step forward in modernizing Nigeria’s revenue system, they address only half of the revenue equation. The government must now turn its attention to the vast untapped potential in non-tax revenue streams. This requires not just policy changes but fundamental shifts in how government assets are managed, how compliance is enforced across MDAs, and how revenue generation is conceptualized beyond traditional taxation.

    The success of these tax reforms will ultimately be measured not just by increased tax compliance and collection, but by their contribution to Nigeria’s overall fiscal sustainability. To truly address the country’s revenue challenges and reduce its dangerous dependence on borrowing, Nigeria must embrace a comprehensive revenue strategy that harnesses both tax and non-tax opportunities.

    •Okeke is Associate Partner at Olisa Agbakoba Legal. Okundaye is Associate II in the firm.