The Nation Newspaper

Category: Saturday Magazine

  • How I found fortune in roots, herbs – 31-year-old serial entrepreneur

    How I found fortune in roots, herbs – 31-year-old serial entrepreneur

    •Relives journey from chef to CEO with presence in 60 countries

    Her life story is as complex as it is compelling. At first glance, she comes across as just another girl. But Yusuf Balikis Omobukola, a 31-year-old graduate of International Business Management from the United Arab Emirates is a serial entrepreneur. She understands that life is far more than ordinary, and to succeed in it, one must embody grit, hard work and unwavering perseverance. As the owner and CEO of Opeke Farms Nigeria Limited, Yusuf leads the way in the production and distribution of herbal remedies, packaged foodstuffs and fashion outfits to markets around the globe. She shares her success story with GBENGA ADERANTI, detailing how she built a thriving business around natural remedies while supplying to over 60 countries worldwide.

    What were you doing in Dubai?

    Dubai holds a special place in my heart. It is my success story, and I consider it my second home. When I arrived in Dubai, I had just N37,000 with me. Fortunately, a friend took me in while I searched for a job. I made every effort to navigate my new surroundings, constantly reminding myself that as long as I have these hands and this head, I can create something from nothing.”

    One key factor in my journey was the support I received. After six months of living with my friend, I managed to gather some money from others and was finally able to rent a small room of my own. I then connected with a family friend in Dubai who was married to a Filipino woman who could not cook. This friend contacted me to prepare Nigerian dishes, and he enjoyed my cooking so much that he encouraged me to consider commercialising my culinary skills, as there were few options for Nigerian food in the area. He even lent me some money to get started, which allowed me to begin cooking meals, plate by plate, with the help of a delivery person. We later expanded our menu to include fried rice and jollof rice. There were times when we did not prepare enough food, and other times when we had leftovers that we would eat for the day.

    But you said you were in paid employment…

    Yes. From selling food, I got a paid employment. That was dramatic too. One of the regular visitors to Dubai from Nigeria, I think he was into visa processing, just called me one day to say that somebody wanted to see me. The person just said that the way I conduct myself, I appear trustworthy. He later gave me 2,500 dirhams for keeps.

    After seeking his permission, I decided to invest the money in accommodation business. I secured a big room where I kept two bunk beds. There, I accommodated four people, and I was charging 700 dirham for a down bed, 500 dirham for an up bed. It was their money I was using to pay my rent.

    It was one of my tenants who told me about an interview they attended. She said that since I had already started selling food, I could apply because they were looking for an African chef. Initially, I said I was not interested, but I later had a rethink. Later, one of them said they had a thanksgiving service in their church. I told them that I was a Muslim, and they said that since it was a thanksgiving service, anybody could attend.

    During the service, the pastor prophesied that I would work in a restaurant, there would be an upcoming event that would announce me, and I would become a great person in the UAE, ruling in the kitchen. I just felt like I was only selling food at home, so I did not believe the prophecy.

    I later went for the interview, and they told me to prepare African food. Then they said that of all the people that had been coming for the interview, my food was the best. I was employed on a salary of 3000 dirhams. That was October 2019. I remember arriving in the UAE in March 2019. That was how I started working. They just gave me one position, and I don’t even know the position they gave me.

    Along the line, when they wanted to arrange the organisational chart, everybody was saying yes, sir and yes ma’am. My name was above all of them. That was how enmity started and that was the beginning of many things to come.

    Read Also: Nigeria Festival 2025 brings Nigerian culture to life in Canada

    I got employed as Commi 1 and was promoted to Demi Chef, to Chef de Partie, to Junior Sous-Chef, then finally Sous-Chef in Abayomi Cafe and Restaurant, Sharjah, United Arab Emirates. I later resigned and came back to Nigeria to set up Opeke Farm Nigeria Limited.

    How would you describe yourself since you are into different things?

    I am a serial entrepreneur, because I venture into many things. But what people know me for is herbal practice. We produce and we are also consultants. We do our consultation by WhatsApp, via phone calls or you can come physically to the office. We also have a branch in Lagos. When you come, you explain what you are going through. From there, we ask you questions. If it requires you to go and do a check-up, we tell you to go and do it. From the consultations, we know what to recommend. It is not that we just sell products. Although there are products we just sell when you don’t have very critical health issues.

    You just talked about your herbal products…

     Like I said, I’m a serial entrepreneur. I have a fashion brand. I learnt tailoring from my mum when I was 11 years old. The herbal remedies business came as a side hustle while I was in Dubai. I started having these thoughts during the corona virus period. I needed to cater for the family, kids and everything. The salary was not enough. I needed to pay bills. I was also down with pile. I contacted home to send me one jedi (roots for curing pile). I used the herb, shared it with my colleagues, and they liked it. I started selling it to them.

    From there, I developed a passion for herbs and roots. When the one keg I had was about to be exhausted, I ordered for another one. From there, they requested me to do it for them in kegs instead of the shots they were taking. I felt it was getting a little bit interesting, so I started doing pieces, four bottles, five bottles and started selling.

    But then a challenge came. The UAE and Nigeria had a crisis, and they started banning cargoes coming into the UAE. They seized one of my cargoes, but people were asking me for the products. It was when I told myself that I needed to create more time for the business. I did some online courses and did some personal research. That was when it occurred to me that I could start this by myself, since it was difficult to bring the cargo from Nigeria.

    This was when I realised that it is not only in Nigeria that they use herbs; all these white people were using them as well. I started sourcing my herbal products from India, because India was very close to Dubai. The Chinese, Pakistani, Moroccans and Iranians also use herbs. I started sourcing my herbal ingredients and making most of them that we were selling, including the ones for detoxification, manpower, and so on.

    There are other products also for fertility for man and woman, and for infections. That was when I felt we could be doing our things by ourselves. From there, we moved gradually and the business kept growing. Again, I felt that I could not rely on this business alone, so I should think about something else. I felt like okay, I’m coming back to Nigeria. I asked myself, what can I do? I invested in sewing. I started doing videos and posting them online. That was how I started the fashion leg of my business. We produce mainly ready to wear.

    Despite the fact I was working in the UAE, I was also studying International Business Management at the Westford University Sharjah, United Arab Emirates. I would go to work in the morning, come back towards evening, pack customers’ orders for herbs and anybody that wanted to buy little. Along the line, they were sending ready to wear from Nigeria to the UAE for the customers that needed them. I would go to class by 7 am, come back by 10 pm. That was my daily routine. I got myself so busy that I had no time for any other thing. I had it in my mind that it was time to hustle. When it is time for fun, I would have enough time for fun.

    Most of my customers are in Dubai, Middle East in general, United Kingdom, Italy, United States and Canada. We have successfully delivered to more than 60 countries of the world. Let me also add that most of our orders come from Lagos, Port Harcourt, Lagos, Abuja, Benin and so on.

    I saw the packaged, ready-made food products too…

    Yes, I just felt I should not abandon the five-year experience I had in Dubai as a chef. I felt I could still invest in it. I didn’t have to open a restaurant. Restaurant work requires maximum attention. I felt okay. I have the ability to make all these processed foods, remembering that at the place I was working, the woman always wanted homemade, even bread, because I’m a professional baker as well.

    All the bread they were using in all our eight branches when I was in the UAE, it was our branch that was baking them. We were not buying bread from outside. All the sauces, spices, tomato paste and orange jam that you use in eating bread, the chocolate you use in eating bread, everything was homemade. I have all the knowledge. I felt I could still apply here. At the most, I would hire staff. I would monitor everything. That was how I started the food processing, which was how Opeke Farm came in.

    My mission for Opeke Farm is to produce healthy, ready-to-cook food. Nowadays, we need to be very careful about what we eat. Everything works hand in hand, both the food and the herbal way. I do tell people, food is your number one medicine. Food will either make you healthy or complicate your health issues.

    In Dubai, you had your hands in many pies. Did this not affect your health?

    It did. As it was getting stressful, I proposed to my company that I had no time for myself, and my sleep was getting messed up. I was sleeping for three to four hours on a daily basis because of my work. One day, I just made up my mind to stop working, because if I failed to stop, I might have health issues along the line.

    My work was a chef’s job, and we handled big events like events of 1000 people to 1500 people. It was a royal family. Imagine preparing 14 dishes for 700 people for seven days, and I was the one heading the team. I still had to attend to everything in detail without any mistake. I still needed to attend to customers and do my content, and it was only me there. So I just said I needed to quit the job. But my manager rejected my proposal, saying that it was not possible. He made some enticing offers, and they offered me another contract. They brought me a promotion letter with an additional salary of 1,500 dirham, for me to stay.

    To know the value of 1500 dirham, it was the salary of a house help. That was the highest the company could add to anybody’s salary. But for me, they added 1,500 dirham, and that was the fifth promotion that I got. I accepted the offer to stay for another six months to train anybody after me, so that the company would not have any challenge when I left.

    What would be your message to unemployed women?

    No one is coming to help you. You are your number one saviour. As long as you are determined, even if you don’t have any skills, go and learn. Even though I’m running this business, I just graduated in International Business Management. Despite the fact that I’m doing that one, to manage the business, I do online courses. At present, I’m studying neuropathy in a college of natural medicine. I’m doing a course on chronic health issues. Despite the fact that the herbal business I have is hereditary, I’m still trying as much as possible to acquire more knowledge.

    As a female entrepreneur, what are the challenges confronting you?

    (Prolonged laughter) The challenges are many. First, there are places that you go, and they will just feel like a woman? There is this belief in our society that only a man can be successful. The moment they see a successful woman, they feel like how is that possible?

    Secondly, when it comes to this aspect of my business, it is always like a woman selling a man’s product; a woman selling products for erectile dysfunction, selling sexual enhancement products. What comes to most people’s minds is that she is promiscuous.  They will not think of the benefits. They will not think of the solution we are trying to provide. What comes to their head is that she is talking rubbish. But these people criticising us are the ones looking for solutions. There are lots of challenges.

    I have read many funny things about the challenges Nigerians face in Dubai. How did you manage to survive in the county?

    Like I said earlier, at the time for hustling, you hustle. When it is time for fun, you will have fun. Based on the question you asked, one thing about Dubai is that you have to be focused. Don’t be like because my friend is doing this one, I must do it. When I was in Dubai, people would save money to buy gold. Until I left Dubai, I never bothered to find out how much they were selling one gram of gold. I don’t chase life’s things. What I was after was to have a good life.

    The practice then was that after I got my salary, after I would remove my house rent, remove the one I wanted to send to my family, maybe I wanted to buy a little food stuff, the remaining one, I would use to restock my goods for sale. I knew as long as I woke up healthy and fine, I would make money that day. The way I helped myself expand the business in the UAE before I stopped walking around was to distribute my business card. I am a graphic designer. I designed the business card myself. Anytime I came back from work in the evening, I would walk around, anywhere I saw a black person, I would give them my card, telling them that I sell this, I sell that. They would collect my number.

    Those who needed herbs, I would go and give them.

    Along the line, I started getting the contacts of the taxi drivers. Anytime there was a delivery, I would call them, and they would do the delivery. Later, I registered with logistics companies, they would come to my house, pick them up, and they would go and deliver for me. My knowledge of graphics helped me a lot.

    How affordable are your products?

    All the products are affordable. There is a difference between quality and quantity. What matters is what you get works for what you want or what you want it to work for. Everything is affordable. We have products of N15,000, we have one of N10,000, also that of N18000. The highest per product is N32,000.

    How receptive were the people when you first introduced your product in Dubai?

    Outside, they value the herbs more than us. It is not only Nigerians that are buying my products, Arabs, Indians, Pakistanis, Britons. Some Russian ladies buy and share my products with their friends. If you check online now, you will discover that people believe in herbal remedies more than the orthodox ones. The irony of the whole thing is that Opeke Herbal remedies are accepted more outside the country than in Nigeria.

    You have made a success out of herbal remedies. What is the secret?

     Aside from you having passion and interest, and you are trying as much as possible to gain more knowledge, God’s blessings and what you are destined to be in life matter the most. Unfortunately, we always find it very difficult to believe things around us, dismissing everything as superstition. There is nothing like superstition. Some people are destined to be lawyers, but they are into fashion. Some people who are destined to be chefs, if they pursue the career, they will be more successful. But if they want to go into music, that is it.

    I started what I am doing as a side hustle. The main purpose of the brand is not primarily to make money but rather to make people believe that there is cure in nature.

  • Providers push on as shortage of contraceptives threatens family planning programme in Niger

    Providers push on as shortage of contraceptives threatens family planning programme in Niger

    • Unwanted pregnancies, maternal deaths rise as USAID, others withdraw support

    Niger State, located in Nigeria’s North Central region, is struggling with high fertility rates and a substantial unmet need for family planning. With an average of 7.5 children per woman and entrenched cultural practices such as child marriage, the pressure on women and families is immense. JUSTINA ASISHANA reports that despite the growth of awareness and demand for family planning, the reality inside many Primary Health Centres (PHCs) across the state tells a different story, with empty shelves, reluctant clients, and overstretched providers struggling to fill a widening gap left by departing donor partners.

    A 2020 analysis by the Development Research and Projects Centre (DPRC) revealed that Niger State relies heavily on donor and development partners, and if these people withdraw from family planning activities, it will suffer setbacks. In early 2025, major international donors, including USAID, have started to withdraw financial support for family planning in Nigeria; a development that has led to shrinking supplies of contraceptives, growing out-of-pocket costs, and increased risks of unintended pregnancies and maternal deaths, particularly in underserved northern states like Niger.

    Across Gwari Road, Bosso, Paiko, and Kafin Tella primary health centres, family planning providers are not waiting for clients to come to them; they are taking the message door-to-door. At the Gwarin Road Clinic in Minna, Liatu Joan Peters, an assistant family planning provider, describes daily efforts to educate women during antenatal visits about the value of family planning, not only for their health but for their children’s futures.

    “We sensitize them that family planning is good for women’s health because it allows them to plan well for their family and the development of the children. We also sensitize them that if they abide by family planning, they will have the opportunity to train their children the way they want,” she explained.

    The family planning providers report increased uptake of contraceptive methods, with injectables and implants among the most popular choices. The clinics report growing numbers every day, reflecting greater community acceptance rooted in ongoing health talks and outreach programmes.

    In Paiko’s Town Clinic, Blessing Barde told our reporter that “those taking up family planning have increased because we go on outreaches to homes. We educate and advocate, even involving religious leaders and community development committees.”

    In Paiko, Barde uses community outreach, religious leaders and Ward Development Committees to spread awareness while in Kaffin Tella, Ramatu Abdulmalik involves husbands and teenagers in conversations, helping to demystify family planning and reduce stigma. Community engagement through religious leaders, house-to-house visits and counselling in antenatal and immunization clinics has built a stronger base of informed clients who are less hesitant to seek services.

    Yet, even as knowledge and desire for family planning rise, the supplies needed to meet demand increasingly fall short as several facilities have experienced shortages for months. But in order not to allow the enthusiasm of their clients wane, the providers are getting creative in keeping services going.

    In Bosso Low Cost PHC, Hadiza Abdullhi Dada says they need to write prescriptions for clients to buy their chosen methods elsewhere and return to the health center to fix it.

    Read Also: Reforms can restore investors’ confidence, unlock AfCFTA opportunities – Okonjo-Iweala

    According to her, her PHC had recorded more than 200 clients in July alone for implants, injectables and condoms while other providers say acceptance rates are climbing due to targeted outreach, with more women and in some cases men openly requesting contraceptives.

    Even with shortages, providers are seeing changes in attitudes. “People are accepting family planning. The demand is more than before because they now have the information,” Peters said.

    Supply shortages threaten hard-won gains

    Despite visible enthusiasm for family planning, PHCs repeatedly face the challenges of empty shelves. Seyanna Press, a preferred injectable contraceptive, along with certain pills, remains in chronically short supply. “Sometimes we have commodities, sometimes we do not,” Peters admits. “When they are out of stock, we have to buy the commodities ourselves from our revolving fund so that the women can have access when they come. But they get it for a price and not free as the one we get from the government.”

    Similarly, at Bosso Low Cost PHC 1, Hadiza Dada, the family planning officer in-charge, recounts the challenge of telling clients they are out of stock.

    She said: “We are having more clients now, but the problem is that if they come, we do not have many family planning commodities that we give to them.

    “When they come, we write the one that they chose for them to go and buy or we give them another visiting day that they should come back pending when we would have the commodity on ground.

    “If they buy, they will return to us so that we can fix it for them.

    “Oftentimes, when we write for them, it is difficult for them to get it from pharmacies, and that was when we decided to start buying it ourselves so that we will have it at hand when they come.”

    The burden of sourcing contraception without steady government supply is widespread.

    Ramatu Abdulmalik from Kafin Tella PHC said: “Most times, we use our own money to buy and keep commodities for clients.

    “It is supposed to be free, but when government supplies finish, we help them buy at affordable prices.”

    This patchwork response, while commendable at the individual provider level, points to deeper systemic issues. The shortage is not merely a local supply chain hiccup; it stems from a lack of political will and resources at the state and national levels.

    Why the gap persists

    The growing demand is colliding with a shrinking supply pipeline. For years, Niger State relied heavily on donor-funded commodities like the popular Sayana Press injectable. Investigations show that several donor partners in the family planning space have withdrawn their services in the state within the past one year, largely due to low state government commitment to meet with their counterpart funds.

    Investigation also revealed that these partners are now navigating some northern states whose governments they tag as serious about their family planning commitments.

    The 2019 family planning Implementation Plan for Niger State allocated only 0.5  per cent of funds to family planning financing, while the state released an even smaller share, heavily depending on donor support. But without the donor partners support, the gap is beginning to show.

    Further studies revealed that the shortage is also part of a national trend as the federal government now requires states to procure their own family planning commodities, following shortfalls at the national level.

    “Until the state starts to procure family planning commodities, stock-outs will continue,” the Niger State family planning Coordinator, Nurse Talatu Abu, warned.

    “The demand in the state is very high, especially with insecurity and economic hardship making people think carefully about having more children.”

    The Niger State family planning coordinator articulates this stark reality: “Shortages started at the national level. The federal government’s stock is inadequate, and new procurement policies require states to also contribute their quota.

    “Niger State must begin directly procuring family planning commodities to fill critical gaps.”

    Unfortunately, the state government’s commitment remains limited; a fact echoed by multiple interviewees. This shortfall has led international donors, once the backbone of Niger’s family planning supply chain, to redirect investments to states where political will and budgetary support are stronger.

    When asked about the withdrawal of development partners in the family planning space from the state, the family planning Coordinator refused to say anything about it. He, however, said that what is happening at the federal government seems to be reflecting the state as a result of lack of funding.

    The absence of government-led intervention has other cascading effects as it was learnt that training and sustaining family planning providers have suffered due to staff attrition, with many family planning providers retiring or transferring without replacements.

    It was learnt that the last broad training effort was in 2020, leaving the system stretched to meet rising demand.

    Human cost of inaction

    Despite the progress in awareness and uptake, the lack of consistent supply threatens to undo years of gains. Providers say clients are frustrated when their preferred methods are unavailable, often rejecting alternatives and returning home without any protection, putting them at risk of unintended pregnancies.

    Access through pharmacies is also unreliable, with products either unavailable or requiring advance orders. Without state procurement and a steady supply chain, the gap between demand and availability will only grow. Providers themselves bear financial and emotional burdens, using personal funds to keep women protected and juggling client frustrations.

    For women relying on regular contraceptive injections, stock-outs can mean returning home without protection, risking unintended pregnancy. Some women express disappointment and distrust when their preferred methods are unavailable, weakening confidence in the healthcare system.

    “The shortage affects the reproductive health of women,” Abdulmalik emphasises. “It is not proper for them to come for a method and be told none is available. It unsettles them and places them at risk.”

    While client preference for Seyanna Press and implants remains strong, providers work hard to counsel clients on alternative methods, balancing education with empathy. “We try to explain that all methods have side effects, and some women accept alternative. Bbut many remain reluctant,” stated Peters.

    The way forward

    Niger State’s family planning story is one of both promise and peril. On one hand, community-driven advocacy, innovative service delivery, and skills upgrades are changing the way women and men think about contraception. On the other hand, the withdrawal of key donor and development partners and slow government response to procurement responsibilities are creating dangerous service gaps.

    For the women who now understand and want family planning, the next step is not persuasion, it is provision. And unless Niger State steps in to bridge the commodity gap, the risk is clear: the progress so far could unravel, taking with it the health, safety, and economic security of families across the state.

    Key to reversing this trend is revitalising government commitment through direct procurement of family planning commodities by Niger State Government, filling gaps left by federal supply shortfalls, increased budgetary allocation and timely disbursement to ensure commodity availability at health facilities, reinvigorating training programmes to replace retiring providers and maintain service quality and strengthening partnerships with remaining donors and local organisations, supported by transparent government communication and accountability.

    As donors shift their focus to states exhibiting political will, Niger stands at a crossroads. The commitment shown by providers and communities calls for matching resolve from state leaders. Without urgent action, the risks of unintended pregnancies, maternal mortality, and family hardships will grow, eroding the progress so painfully won.

  • Farmer whose wife was delivered of quadruplets after six children cries for help

    Farmer whose wife was delivered of quadruplets after six children cries for help

    Ba’aba Habu and his wife Amina were the focus of congratulatory messages on Tuesday with the arrival of their newborn quadruplets at Fika General Hospital in Yobe State.

    For the couple, however, it was a mixed grill of joy and despair as the blessing came at a time they were experiencing a lot of hardship in their home at Zirki Zanzana part of Fika town.

    Habu, a subsistence farmer, has no other means of livelihood at a time that farming has become a risky venture in that part of the country due to the unwholesome activities of bandits and other anti-social elements.

    Amina, on the other hand, has no trade, skill or vocation to support the family which already had six children before she was delivered of the quadruplets.

    The Nation checks revealed that the newborns required specialised medical attention and had been referred to the Specialist Hospital, Potiskum where they will need to be placed in incubators to ensure their survival and proper care.

    Investigation revealed that this essential treatment, along with mounting hospital bills and the future needs of four infants, present a monumental financial burden for a family that is struggling to make ends meet.

    Habu and Amina, our correspondent gathered, are now in serious despair, their joy overshadowed by the reality of their poor conditions.

    Habu, in a chat with our correspondent, sent a heartfelt appeal to the Yobe State Government and compassionate individuals everywhere to help them navigate the crisis.

    “I don’t have the power to do this alone. But I know that the Allah that has blessed me with these children will not allow them to suffer.

    Read Also: Court jails four for internet fraud in Lagos after EFCC sting at OOPL

    “I am calling on the Yobe State Government to come to my rescue. I know Governor Mai Mala Buni will not look away from us Isha Allah,” the father of the quadruplets said.

    Their simple plea is for the assistance necessary to care for their four new babies and to give them a chance at life.

    “We just want our children to survive,” Amina, the mother said.

    The birth of a set of quadruplets in a poor family is a stark reminder of how a happy event can quickly turn into a struggle for survival.

    Our correspondent gathered that the State Emergency Management Agency (YOSEMA), through its Executive Secretary Dr. Mohammed Goje, has deposited the sum of N500,000 to cater for the medical bills of the children.

    YOSEMA has also pledged to provide livelihood support for the family.

  • Banking sector reforms boost FDI surge, investor confidence

    Banking sector reforms boost FDI surge, investor confidence

    Capital inflows into the Nigerian economy reached $5.6 billion in the first quarter of 2025, according to data from the National Bureau of Statistics (NBS). The increase reflects the impact of key reforms by the Central Bank of Nigeria (CBN) aimed at attracting both local and foreign investment. Notably, $3.1 billion—representing 55.44% of the total—was directed into the banking sector. Stakeholders say this indicates that growing stability in the financial sector is boosting investor confidence, writes Assistant Editor COLLINS NWEZE

    Investor interest in Nigerian assets—both domestic and international—is on the rise, as reflected in recent capital inflows into the country. This growing confidence is largely attributed to crucial reforms implemented by the Central Bank of Nigeria (CBN) under the leadership of Governor Olayemi Cardoso.

    Since October 2023, the CBN has prioritised rebuilding Nigeria’s economic buffers and enhancing resilience. Key policy measures—most notably currency reforms and reduced intervention in the foreign exchange (FX) market—have significantly boosted investor confidence. These steps have attracted foreign investment and fostered greater transparency in Nigeria’s financial ecosystem. One of the most impactful changes has been the unification of exchange rates and the successful clearance of over $7 billion in FX backlog. These actions have positively shifted Nigeria’s investment outlook, with multilateral institutions such as the World Bank commending the moves as bold and necessary for long-term economic sustainability.

    In addition, Nigeria’s sovereign risk spread has dropped to its lowest level since January 2020, reversing the risk premiums built up during the COVID-19 pandemic and subsequent economic pressures. Together, these reforms signal deliberate efforts by the CBN to attract and retain capital inflows, positioning Nigeria as a more stable and appealing investment destination.

    Assessing reforms impact on FX inflows

     These reforms have led to a surge in capital inflows into the Nigerian economy. According to a report by the National Bureau of Statistics (NBS), inflows rose to $5.6 billion in the first quarter of 2025 — a 67.12% increase from the $3.4 billion recorded during the same period last year. The latest Nigeria Capital Importation Q1 2025 report also shows a 10.86% rise from the $5.1 billion reported in the fourth quarter of 2024. “In Q1 2025, total capital importation into Nigeria stood at US$5642.07 million, higher than $3.37 billion recorded in Q1 2024, indicating an increase of 67.12  per cent. In comparison to the preceding quarter, capital importation increased by 10.86 per cent from $5.08 billion in Q4 2024,” the report stated.

    The NBS also stated that portfolio investment ranked top with $5.2 billion, accounting for 92.25 per cent, followed by other investment with $311.17 million, accounting for 5.52 per cent. The report indicated that, “Foreign Direct Investment recorded the least with $126.29 million accounting for 2.24 per cent of total capital importation in Q1 2025.”

    According to the NBS, the banking sector took the lead with the highest inflows in Q1 2025. The report stated, “The Banking sector recorded the highest inflow with $3.1 billion, representing 55.44 per cent of total capital imported in Q1 2025, followed by the Financing sector, valued at $2.09 billion (37.18 per cent), and Production/Manufacturing sector with $129.92 million (2.30 per cent).”  The report further noted that capital importation during the reference period originated largely from the United Kingdom with $3681.96 million, showing 65.26 per cent of the total capital imported.

    In emailed note to investors, Managing Director, Afrinvest West Africa Limited, Ike Chioke, explained that Portfolio Investment (92.2 per cent of total capital) dominated flows, rising by 30.1 per cent quarter-on-quarter, and 150.8 per cent year-on-year to $5.2 billion. The bulk of the FPI flows was to Money market instruments (up 162.2 per cent year-on-year to $4.2 billion), while Bonds (up 108.5 per cent) and Equities (up 137.7 per cent) attracted $877.4 million and $117.3 million respectively.

    Rebased GDP presents new opportunities

    Nigeria’s hope of achieving $1 trillion economy by 2030 will gain significant support from the banking sector. Nigeria’s Statistician-General, Adeyemi Adeniran, had explained how the economy fared in the rebased Gross Domestic Product (GDP) report. He said: “In nominal terms, the rebased GDP for 2019 stood at N205.09 trillion N213.63 trillion in 2020, N243.30 trillion in 2021, N274.23 trillion in 2022, N314.02 trillion in 2023, and N372.82 trillion in 2024.”

    Read Also: I quit banking to pursue music – Rapper CDQ

    The NBS noted that in 2019, the rebased nominal GDP at basic prices represented an increase of 41.7 per cent over the nominal GDP of 2019 of the old base year (2010), 39 per cent in 2020, 38.7 per cent in 2021, 36.1 per cent in 2022, 34.6 per cent in 2023 and 35.4 per cent in 2024. “The results show that the structure of the Nigerian economy has changed significantly with a rise in the share of agriculture and services sectors and a fall in the share of the industries sector in nominal terms, indicating a shift in the structure of the Nigerian economy than earlier reported,” the NBS said. Adeniran further explained that the rebasing allows the country to better reflect the realities of the economy. “It’s not just about a bigger number but about accurate, timely data that supports smarter policy and economic planning,” he said.

    Banking sector to the rescue

    A well-recapitalised banking sector is undeniably crucial for the growth of the domestic economy. Hence, the CBN governor advised banks to prepare for a new round of recapitalisation to ensure they have the necessary capital to support the Federal Government’s plan to achieve $1 trillion Gross Domestic Product (GDP) target by 2030. He said that President Bola Ahmed Tinubu’s economic plan aims to reach a $1 trillion GDP by 2030, emphasising that the current bank capitalisation is insufficient to support such a large economic scale. Cardoso asked: “Will Nigerian banks have sufficient capital relative to the financial system’s needs in servicing a $1 trillion economy in the near future? In my opinion, the answer is “No!” unless we take action. That action was the ongoing recapitalisation of banks, meant to prepare them for expansion and attract big ticket transactions to support economic growth”.

    The Policy Advisory Council’s report on the national economy set an ambitious target of achieving a $1 trillion GDP, outlining clearly defined priority areas and strategies. According to the head of the National Bureau of Statistics (NBS), the inclusion of new and emerging sectors, updates to consumption baskets, and refined data collection methods have contributed to a more comprehensive picture of national output. Development economist Aliyu Ilias noted that several sectors—particularly entertainment—had previously gone unrecorded in official data.  “By rebasing our GDP now, included those areas properly. This new visibility will make Nigeria appear much stronger to foreign investors, which will naturally help us attract more capital,” he said.

    He explained that the exercise will also reveal untapped economic potential and guide government resource allocation. “It will show where we are strongest structurally, such as in mining or other emerging sectors. That insight will help the government focus its efforts more strategically.” “Finally,” he added, “it will support economic policy formulation, helping us align our strategy with the reality on the ground. We will know exactly where to put more effort.”

    Ilias explained that while this statistical adjustment does not instantly generate new revenue, it creates a more reliable framework for fiscal planning, investment strategies, and development interventions. For him, by aligning economic data with current realities, the government and private sector can more effectively target policies that stimulate job creation, improve productivity, and sustain long-term growth.

    Seun Onigbinde, director of Civic Technology Group BudgIT, said the previous rebasing underscored the substantial impact of policy changes in the services and ICT sectors, such as telecommunications deregulation and banking sector recapitalisation. “Rebasing of the GDP must reflect changes in the economy, which are a product of public policies over time,” he added. Rebasing is also critical for domestic policy. It allows the government to better assess tax collection efficiency, measure sectoral contributions, and design social programmes that are data-driven and results-oriented.

    Gabriel Okeowo, country director for BudgIT, said, “Rebasing allows planners to be more intentional about solving Nigeria’s biggest problems: poverty, infrastructure gaps, and job creation.”

    Lagos-based economist, Nelson Adedeji, explained that despite the bump in GDP size, the rebasing was never a silver bullet.  “We must acknowledge that genuine economic growth extends beyond statistical adjustments. For ordinary Nigerians to experience meaningful improvement in living standards, the President Bola Tinubu administration must complement GDP rebasing with substantive policies addressing infrastructure deficits, security challenges, agricultural productivity, manufacturing capacity, and the overall ease of doing business,” he stated.

    Views from stakeholders

    While US President Donald Trump’s widening trade war has taken emerging markets on a wild ride, Nigeria has quietly held its own, attracting foreign capital reassured by currency reforms and other measures designed to revive the economy of Africa’s most-populous nation. “Nigeria appears to be back in business as long-awaited economic reforms take shape,” said Emre Akcakmak, portfolio manager at East Capital. Key measures include improved currency liquidity, leeway for investors to repatriate their profit, and the stable naira. “We feel the Central Bank of Nigeria will continue to stem any sharp appreciation of the naira to limit profit taking from the fast money community,” Akcakmak said.

    “Portfolio inflows have likely been supported by improved confidence amid key structural reforms, better FX market functioning and moderating dollar-naira volatility, as well as the still-robust nominal yield buffer,” said Samir Gadio, head of Africa strategy at Standard Chartered Plc, told Bloomberg. “Besides, Nigeria’s local market is seen as less correlated with global risk conditions than more liquid EM peers,” he said.

    Nigeria’s economy and businesses have many reasons to be optimistic in 2025, as the impact of recent economic reforms—particularly in the foreign exchange (FX) market, exchange rate system, and large budgetary outlays—begins to yield tangible benefits. According to Bismarck Rewane, Managing Director of Financial Derivatives Company Limited, the country is already emerging from the most painful phase of its reform adjustment process.

    Rewane predicted that the economy would start to recover from the toughest stage of reforms this year, emphasizing the importance of strategic policy implementation and institutional reform. He noted that while the fundamentals of Nigeria’s exchange rate suggest that the naira should be stronger, true stability hinges on the efficiency and effective management of the FX system.

    He stressed that the main challenge lies not in the reforms themselves, but in how they are managed. Poorly sequenced policy shifts and a lack of structural reforms have significantly hindered progress, he said. Rewane also highlighted the crucial role of investment in driving economic growth. “Revenue alone is not enough,” he stated. “Investment is key, but it will be influenced by confidence, transparency, and the right policies.”

    He further pointed out persistent challenges such as power supply inefficiencies and a lack of transparency in the oil and gas sector, both of which demand urgent structural reforms. Looking ahead, Rewane concluded that 2025 will be “less hard, less painful, and less difficult” than the previous year. He emphasised that the severity of the challenges faced in 2024 does not mean they will persist in the same way this year.

  • Too hot to learn for Nigerian children with albinism

    Too hot to learn for Nigerian children with albinism

    • Passion for outdoor sports sparks controversy

    As the sun burns furiously through the torn ozone layer every day, its extreme heat, aggravated by policy neglect, roasts the ambition of many children with albinism, GBENGA OGUNDARE reports

    Nifemi Olulana, 16, and AbdullahiAriyibi, 10, both share one passion – soccer. Although an ardent fan of English Premier League club, Arsenal FC, Nifemi would like to be like his football idol C. Ronaldo when he grows up. Abdullahi too can’t wait to dazzle the world with the soccer wizardry that C. Ronaldo epitomises in football fame.

    Yet, beyond their common fancy, both children have a mutual foe threatening their future soccer ambition – the scorching sun and its extreme heat brought about by climate change crises in Nigeria.

    Nifemi and Abdullahi were born with albinism. And with average daytime temperatures in parts of Nigeria now soaring above 40°C during the dry season, climate change is forcing majority of the children to make a cruel choice: their health or their academic and sporting dreams. Their skin, lacking melanin, is highly vulnerable to UV radiation and its ravages.

    Although both boys look forward to playing football with their mates every day, that is often not possible because of the damage exposure to direct sunlight could do to their skins.

    “He can only play football with his younger brother indoors,” Elizabeth Olulana, Nifemi’s mum, said.

    Fearing sun ravages, his parents clear the sitting room just so he can play a little. It’s the family’s protective strategy for Nifemi and his three siblings who are also with albinism.

    Not only that, the children are not allowed to participate in outdoor sports or activities, Elizabeth said. Even during school breaks, they must stay inside — isolated and restricted from engaging fully in extra-curricular activities alongside their peers.

    That traumatises Nifemi all too often.

    “In fact, I got so angry once when I was hoping to play in a Cowbell football tournament in Lagos but was stopped by my parent,” the boy recalled.

    Read Also: FULL LIST: 29 countries to phase out passport stamps

    “The anger grew worse when I found that I could play better than the person playing in my wing while watching the tournament.”

    Abdullahi, a student of FadluRaheem School in Ikotun, is not spared the restriction either. “I can’t play football at school because my dad has told me not to do so because of the sun,” he told the reporter.

    The blow back of not accepting the forced restrictions is severe for any child with albinism. Amaka Odimegwu, another mother, recalled the harrowing experience of her daughter with albinism who chose sport over her skin health.

    She said: “My daughter participated in inter-house sports practice. Afterwards, she came home with severe sunburn on her face. It was so bad I had to confront the school.” 

    Several other children like Nifemi and Abdullahi are barred — either by schools or their own families — from participating in extracurricular activities such as sports, field trips, or cultural dance practices that take place under the midday sun.

    The restriction, often justified as a precaution, presents the children with deep psychological scars.

    “When children are restricted from activities that their peers participate in, they may start to feel different or inferior,’ Dr. Charles Umeh, consultant clinical psychologist and senior lecturer in the Department of Psychiatry, College of Medicine, University of Lagos, explained.

    Abdullahi is already a victim. “I feel if I were like my other mates, I would be allowed to play football in the sun like they are doing,” he said, his voice laden with pain.

    Ditto for Nifemi. He can’t stop being sad each time he misses an opportunity to participate in team sports like his mates.

    He finds succour in the assurance of his parents though. “My dad always supports me whenever I feel sad because I can’t play ball with my friends. He would always say, ‘Nigerian weather does not support you playing football. But one day when we travel to London, I’ll enrol you in Arsenal’s academy.’”

    Yet, clinical psychologist Umeh warns of more mental impacts: “They may internalise the message that they are fragile, incapable and not good enough, which can erode their confidence.

    “This then leads to low self-esteem and low sense of self-worth.”

    The effects on the children can even be grimmer, warned Umeh. As the isolation from group activities trigger feelings of being ‘othered’ and scars their self-esteem, the potential for depression, withdrawal, or even self-harm thus become real for children with albinism in Nigeria, he explained.

    That is neither here nor there for Tolani Ojuri, the Lagos Albinism Association of Nigeria (AAN) chairman. The restriction of children with albinism must remain regardless. “And if we find any school or anyone allowing them to participate in team sports under the midday sun, we will go after them,” he said.

    According to Ojuri, the passion of albino children for outdoor sports is creating a festering health problem for the association already. “We now have individuals in their adult years who now need urgent cancer surgery because they chose to follow their passion for sport in the sun while they were children.”

    The hidden toll

    For her daughter’s damaged skin, Amaka got a profuse apology from the school as compensation. But the systemic neglect and lack of safeguards to protect children with albinism in Nigeria’s public and private schools received no attention.

    This neglect by policymakers and education authorities violates the Child Rights Act 2003 which has been domesticated by most states. Specifically, Section 1 of the Act emphasises that the best interests of the child should be of paramount consideration in all actions concerning children.

    The Lagos State Special People’s Law (2011), Section 26(11) on the rights of children with disabilities states:

    “In all matters concerning children living with disability, the best interests of the child shall be the primary consideration.”

    Had the authorities kept this provision, they would have created reasonable accommodation to address the special needs of pupils with albinism in both curricular and extra-curricular school activities. But all the schools the reporter visited in Lagos lack indoor recreational facilities where children with albinism can participate without breaching their skin health.

    A  World Bank Group news report shows this reasonable accommodation only requires little adjustments though. The Félix EstébanOller High School on the Nargana Island in Panama is a case study. The school authorities, with the help of the SOS Albino, only roofed the gym to enable its Albino children play alongside others.

    The Lagos Office for Disability Affairs (LASODA) did not respond to questions on this reasonable accommodation for school children with albinism. LASODA, though, caters to inclusion of PWDs in the state-level sporting affairs.

    Ojuri equally insisted it is not possible for LASODA.

    His argument is not for want of indoors sports—like table tennis, basketball, and others that can engage the children. Nor is it for any impact on the best interest of such children—the feeling of ‘otherness’ that buffets Nifemi, and the provision of the Child Act and the disability laws.

    “I doubt if any school, including the federal government colleges, anywhere in Nigeria has that kind of facilities for pupils with albinism,” Ojuri said.

    However, he was quick to reveal the regular provision of sunscreen, wide-brimmed hats and UV-protective umbrellas LASODA freely distributes to AAN members.

    ‘Get the hell inside!’

    Away from the playground, the heat stress remains an everyday reality notwithstanding, both for the Olulana children and other pupils with albinism.

    The past few months before the arrival of the rains in June had been hellish for the four siblings. They had to stay away from school sometimes because of rising temperature. Burns and rashes afflict their skins, Elizabeth, their mother, laments.

    Sunscreens, essential for their protection, come at a steep price: ₦15,000 per tube. With four children needing about eight tubes monthly (costing ₦120,000), the financial strain is devastating for the family. And when money runs out, the children are forced to rely solely on additional clothing for protection.

    Even with these precautions, they endure discomfort from the heavy protective gear which often makes it difficult to focus during lessons.

    “They lose concentration because of the discomfort,” Elizabeth explained. “

    “Since January, they’ve missed at least six days of school due to unbearable heat. It affects their grades.”

    And when attendance becomes unavoidable, …“we go very early to school before the sun is high, and have to wait hours after closing before it’s safe to go home,” Elizabeth said.

    Although Dr. Folakemi Cole-Adeife, Consultant Dermatologist at the Lagos State University Teaching Hospital (LASUTH), is of the view that government should prioritise the provision of free sunscreen for children with albinism,  “there’s no national policy mandating free or subsidised sunscreen for school children with albinism,” Bisi Bamishe, President, AAN, said.

    Holes in the policy

    It is an everyday dilemma for all of the albino children interviewed. They lament their experience of persistent itching, heat rashes and difficulty concentrating during lessons — symptoms worsened by their inability to tolerate prolonged sun exposure or harsh lighting.

    Classrooms lack basic ventilation, and cooling systems like fans or air conditioners are either absent or non-functional, the reporter found in his visits to many public and private schools in Lagos State.

    They have an alternative though: to leave the classrooms windows open to allow for fresh air.

    Ironically, that is not viable for children with albinism. “Their eyes are extremely sensitive to bright light, especially sunlight,” explained Ojuri.

    “Throwing open the windows may cool the room, but it causes visual discomfort and worsens their sight problems.”

    Such discomfort could be averted actually, especially with UV-protective blinds covering classroom windows. But for over a decade now, the National Policy on Albinism has remained a lame duck, with little political will to activate its recommendations — including school-friendly infrastructure, early skin screenings, and inclusive health insurance coverage.

    For instance, the federal government and many states are yet to see the sense in directing public schools to allow children with albinism modify their uniforms; a policy urgently needed, according to Dr. Cole-Adeife.

    “Albino children need to have their uniforms modified to protect their skin from the sun so as to prevent skin cancer.

    “Shorts should be trousers. Shirts should be long sleeves, not short. And they must have hats as part of their uniform to protect their face and neck from the sun.”

    Global warming, local bumbling

    While climate action remains a global priority, Nigeria’s national climate adaptation strategy has not integrated the specific vulnerabilities of children with albinism.

    In many parts of the country, for instance, school-based heat adaptation strategies exist only on the pages of policy documents.

    No one is thinking about funding for infrastructural improvement such as working ceiling fans or affordable cooling systems.

    At the moment, Nigeria has one of the highest incidences of skin cancer among people with albinism in sub-Saharan Africa, with children starting to show pre-cancerous lesions as early as age 10.

    In addition, most people with albinism in Nigeria die from skin cancer before age 40, according to a UN study.

    So while policymakers dawdle, extreme heat and prolonged UV exposure continue to take its toll on the overlooked children.

  • Transforming education with STEAM labs

    Transforming education with STEAM labs

    In a world racing toward digital transformation, nations thrive not on what lies beneath their soil, but on the strength of their human capital. In Nigeria, where youth potential is vast but underutilised, a bold initiative by Seplat Energy and NEPL is quietly reshaping the future. By investing in STEAM education, Seplat Energy and NEPL are showing how visionary private sector leadership can reshape Nigeria’s future—laying the foundation for a knowledge-driven economy where classrooms, not oilfields, become the true reservoirs of national wealth, reports Associate Editor ADEKUNLE YUSUF

    In every advanced economy, the most powerful engines of growth aren’t oil rigs or factories—they are educated, innovative minds. A well-nurtured intellect fuels invention, drives productivity, and shapes forward-looking institutions. History is clear: no country has truly escaped poverty or underdevelopment without first investing heavily in its people’s intellectual capital. The nations now leading the Fourth Industrial Revolution—Singapore, Germany, South Korea—began by overhauling their education systems, prioritising science and technology, and cultivating generations of critical thinkers and skilled problem-solvers. In today’s world, where knowledge is currency and creativity sets nations apart, a strong, future-focused education system isn’t just important—it’s essential.

    For Nigeria, the stakes are particularly high. With its fast-growing youth population and rising unemployment, the country sits at a crossroads. Automation and artificial intelligence threaten millions of traditional jobs, while the global economy increasingly rewards those with STEAM (Science, Technology, Engineering, Arts, and Mathematics) capabilities. If Nigeria is to compete and thrive in this knowledge-driven century, it must empower its young citizens with the tools to innovate, adapt, and lead. The road to sustainable prosperity and inclusive development doesn’t start in corporate boardrooms—it begins in classrooms where future builders of the nation are shaped.

    At the intersection of urgency and opportunity, NNPC Exploration and Production Limited (NEPL) and Seplat Energy are quietly transforming the education landscape in Edo State and the wider Niger Delta—not through policy lobbying or white papers, but by equipping classrooms with purpose-built STEAM laboratories. In schools like Niger College, Army Day Secondary School, and Oba Akenzua Secondary School, newly commissioned STEAM labs now hum with potential. Outfitted with modern computers, internet connectivity, and subject-specific learning kits, these are not just rooms filled with technology—they are hubs of imagination and inquiry. Each lab reflects Seplat’s deeper commitment: to go beyond conventional corporate social responsibility and become builders of a smarter, more resilient future.

    These three new labs add to an earlier trio established at Ihogbe College, New Era College, and Edo Boys High School—also in Benin City. In neighbouring Delta State, three more schools—Unity Model Secondary School and Women Affairs Secondary School in Asaba, and Afadia College in Ibusa—have also been fitted with similar innovation hubs. Together, these nine STEAM labs across Edo and Delta States signal more than a philanthropic gesture—they are strategic investments in talent, creativity, and the long-term development of the region’s youth.

    Bridging the STEAM divide

    The significance of this intervention lies not just in its scope, but in its timing. Nigeria stands at a critical juncture, grappling with economic fragility and an underperforming education system. According to the Federal Ministry of Education, fewer than 30 per cent of public secondary schools have functional science laboratories. At the same time, the World Economic Forum warns that while 85 million jobs may disappear globally due to automation, 97 million new roles will be created—most requiring STEAM (Science, Technology, Engineering, Arts, Mathematics) proficiency. The risk? Nigeria may be left behind unless this skills gap is urgently addressed.

    What sets the NEPL and Seplat Energy initiative apart is not just the state-of-the-art labs, but the holistic model behind them. Through the Seplat Teachers Empowerment Programme (STEP), the initiative trains educators to deliver STEAM subjects using modern, experiential techniques. By marrying infrastructure with capacity-building, the programme transforms learning from passive memorisation into active exploration. Though the intervention is local, its implications are national. Nigeria has over 81,000 public secondary schools and millions of untapped young minds. Each well-equipped lab isn’t just a classroom—it’s a launchpad for the engineers, coders, and innovators of the future.

    Collaboration comes with benefits

    This transformation was made possible through deliberate collaboration. At the commissioning of the STEAM laboratories, a broad coalition of state officials, school administrators, and community leaders stood in solidarity. Representing Edo State Governor Monday Okpebholo, Education Commissioner Dr. Emmanuel Paddy Iyamu reaffirmed the government’s resolve to scale up the initiative. Commissioner for Mining, Oil and Gas, Andrew Ijegbai, described the labs as integral to the state’s development strategy. When public and private sectors align around a common vision, real change follows.

    Gone are the days when science was confined to chalkboards and rote memorisation. In these labs, students now experiment, code, and build—bringing learning to life. UNESCO reports that schools with functional STEAM labs see up to a 30% boost in student engagement and academic performance. Principals like Godwin Idemudia of Niger College and Osemwenkhae Ezeilekhae of Army Day Secondary School confirm this impact: students are forming science clubs, designing apps, and solving real-world problems after school. Seplat Energy’s intervention exemplifies strategic philanthropy. This isn’t scattered charity—it’s focused, system-level investment in education. By concentrating efforts on one catalytic sector, the company is generating long-term returns for students, communities, and the broader Nigerian economy.

    Road to competitiveness

    The link between education and national competitiveness is both direct and undeniable. According to the World Bank, every dollar invested in education can yield up to $15 in economic returns. When young people acquire STEAM skills, they’re not just improving their own employment prospects—they’re elevating Nigeria’s position in the global innovation and value chain. This initiative marks a redefinition of corporate citizenship. Seplat Energy is no longer just an oil and gas operator—it is evolving into a nation-builder, investing in human capital as deliberately as it drills for resources. It’s a powerful signal that in today’s world, long-term business success hinges on social relevance and systemic impact.

    Still, the task ahead remains formidable. Nine well-equipped labs are a strong start, but they represent just a sliver of the national need. To achieve meaningful scale, a more structured public-private partnership (PPP) framework is critical—one that offers tax incentives for educational investments, matching grants, and measurable impact metrics. As expansion continues, equity must stay front and centre. Girls remain underrepresented in STEAM fields. Future iterations of Seplat’s programme should prioritise gender inclusion—through mentorship, scholarships, and policies that ensure safe, supportive learning environments for all. That’s how to build not just a skilled workforce, but a just society.

    These STEAM labs are not the endgame—they are the prologue to a larger, transformative story. They challenge policymakers, corporate leaders, and educators to reimagine what is possible. More importantly, they ignite hope—not just among students in Edo and Delta States, but across the nation. In a country as complex and promising as Nigeria, true progress should not be measured by GDP figures or oil revenue. It should be seen in classrooms like these—where future scientists, architects, and innovators are nurtured.

    Nigeria has never lacked potential; what it has often lacked is the infrastructure to unleash it. Seplat’s STEAM labs offer a glimpse of that missing scaffolding—technologically advanced, locally grounded, and globally attuned. If this model is embraced and scaled, it could shift the national education narrative—from one burdened by outdated systems to one propelled by future-focused learning. In these quiet, humming rooms of discovery, Nigeria’s next great export may not come from beneath the ground, but from the minds of its youth. And that, perhaps, is the most powerful investment of all.

    Read Also: Keyamo to ADC coalition: expired 419 tactics can’t deceive Nigerians

    Operational milestones and strategic developments

    Seplat Energy Plc has announced a remarkable financial and operational performance for the first quarter ended March 31, 2025, posting a revenue of N1.228 trillion, a significant leap from N268.6 billion in the same period last year. The company’s gross profit surged to N535.4 billion, up from N63.8 billion year-on-year, reflecting robust margins and enhanced cost efficiency. Profit before tax (PBT) also rose impressively to N314.6 billion, compared to N103.5 billion in Q1 2024. Seplat’s cash generated from operations grew exponentially to N464.9 billion, up from N25.2 billion, underscoring its strengthened liquidity position.

    Seplat maintained solid production performance, averaging 131,561 barrels of oil equivalent per day (boepd), up 167 percent from 49,258 boepd in Q1 2024, exceeding the midpoint of its 2025 guidance range (120–140 kboepd). Onshore assets contributed 56,196 boepd, representing a 14 percent increase over the same period last year. This includes a 10 percent rise in liquids and a 21 percent jump in gas, driven by strong outputs from the Oben Gas Plant and initial production from the Sapele Gas Plant.

    SEPNU (formerly MPNU) contributed 75,365 boepd, consisting of 88 percent crude and condensates, 4 percent NGL, and 8 percent gas, all within guided expectations. Operational safety remained a priority, with the company recording over 7.3 million man hours without a Lost Time Injury (LTI)—including 2.5 million hours from Seplat’s onshore operations and 4.8 million hours from SEPNU. With strong cash flow, Seplat repaid $250 million of its Revolving Credit Facility, reducing it to $100 million, and raised its quarterly dividend to US 4.6 cents per share, reinforcing investor confidence and its commitment to long-term value delivery.

    Seplat Energy’s Q1 2025 performance was further bolstered by key operational milestones. The SEPNU idle well restoration programme added approximately 11,000 barrels of oil per day (kbopd) in gross JV production from the first 10 wells successfully brought back online. This initiative underscores the company’s focus on unlocking value from existing assets through operational excellence. In another strategic achievement, the Sapele Integrated Gas Plant (SIGP) was commissioned and achieved first commercial gas sales in February 2025. The plant is now delivering high-quality processed gas alongside condensate yields of around 2 kbopd, marking a significant step forward in Seplat’s midstream and gas monetisation strategy.

    During the quarter, the company announced changes to its Board of Directors. Bello Rabiu, Senior Independent Non-Executive Director, and Babs Omotowa, Independent Non-Executive Director, resigned following their appointments to the Board of NNPC Limited. In response, the Seplat Board unanimously appointed Bashirat Odunewu as the new Senior Independent Non-Executive Director, ensuring continued governance strength and leadership continuity.

    Chief Executive Officer, Seplat Energy, Roger Brown, said: “2025 has started positively for Seplat. As we deliver the business at a significantly enhanced scale, our focus is on the successful integration of the combined companies, and I am pleased to report that we are making good progress. It is clear that we can benefit greatly from the combined expertise of our onshore and offshore workforce.”

    He added, “Production has been strong, showing the benefit of the continuous drilling programme, investment in asset integrity and the availability of multiple evacuation routes. Financial performance was also strong, allowing us to be pro-active in materially reducing gross debt, maintaining low balance sheet leverage, and further strengthening our company as the near term global economic outlook becomes less predictable.”

  • ‘Why Tinubu is unstoppable ahead of 2027’

    ‘Why Tinubu is unstoppable ahead of 2027’

    As 2027 draws closer, conversations around Nigeria’s political future are heating up. In this incisive interview, lawyer and rights activist Emmanuel Umohinyang, Convener of the Coalition for Good Governance and Justice, makes a bold case for why President Bola Tinubu remains firmly positioned for re-election. Speaking with Associate Editor ADEKUNLE YUSUF, he defends the president’s bold economic reforms, calls out underperforming cabinet members, dismisses the opposition as fractured and directionless, and challenges critics to judge Tinubu by results, not rhetoric. From fuel subsidy removal to local government autonomy, Umohinyang argues that Nigeria is on a path to recovery—and that Tinubu’s steady hand will secure him another term with little resistance. His verdict: performance, not propaganda, will shape Nigeria’s future. Excerpts:

    Naturally, there will always be differing perspectives on President Bola Tinubu’s administration. Nigeria is not a banana republic; in any democracy, those dissatisfied will criticize the president, while others will praise him. Political opponents looking to replace him will try to discredit his efforts. But the truth is, you cannot easily dismiss a team that is delivering results, nor can you undermine a leader who has performed admirably over the past 24 months. That said, not all areas have been perfected—there are still sectors that need attention. The poverty level in the country remains troubling, and Mr. President himself cannot be comfortable with it. What’s ironic is that many of the loudest voices complaining today were part of past governments that created these very problems.

    Just recently, a former official from Rivers State—someone who has spent his entire career in government—claimed there is hunger in the land. This same individual, who left office only a few months ago, suddenly discovered the cost of diesel is high. One must ask: was he unaware of fuel prices during his time as minister? Or was he benefitting from free supplies from contractors? Now that he is no longer in office, and the privileges have dried up, he’s facing what ordinary Nigerians face daily. President Tinubu is not ignoring the hardship people are experiencing. That’s why he continues to engage with stakeholders and leaders across the country, urging them to assure their people that improvements are on the way.

    A major contributor to our current economic discomfort is the president’s decision to eliminate the corruption-ridden fuel subsidy regime and move towards a unified exchange rate. The trial of former CBN Governor Godwin Emefiele is a direct result of the foreign exchange manipulations under his watch—where dollars were recycled and sold on the black market for profit. These necessary reforms came at a cost, initially plunging many Nigerians into hardship. But there’s a turnaround. When subsidy was first removed, fuel prices spiked to as high as N1,800–N1,900 per litre. Today, with Dangote Oil entering the market, prices are beginning to drop due to competition. The NNPC is now responding to market pressure, which is how a real economy should work.

    Nigerians will soon begin to appreciate the wisdom behind these bold decisions. No Nigerian leader has shown the level of courage President Tinubu has—certainly not even the revered Muhammadu Buhari. Buhari was more concerned with public sentiment than with long-term solutions. Tinubu, on the other hand, believes that it’s better for a nation to go through pain early and enjoy sustained prosperity afterward. In the months ahead, as more infrastructure projects are completed and as economic stability returns, more Nigerians will recover from the impact of earlier reforms. Roads are being commissioned, and various forms of infrastructure are springing up across the country. Nigerians must remain patient and allow the president time to implement his vision fully. Some of us stood firmly behind Tinubu from the beginning, even when others pushed forward questionable alternatives. We believed in his Lagos legacy—a city that has become a benchmark for urban development—and we trust that he is replicating that success at the national level.

    Borrowing and the Supreme Court ruling on local governments

    Borrowing, in itself, is not a crime. It only becomes problematic when loans are taken for consumption rather than investment. Eliminating fuel subsidies doesn’t automatically solve all of Nigeria’s complex challenges. Strategic borrowing is still needed to fund critical sectors and prevent stagnation. It’s important to note that governance is not the sole responsibility of the Federal Government. States and local governments also play a crucial role. Unfortunately, many Nigerians overlook the accountability of state governors, even though they now receive up to four times more allocation than during the subsidy era. The poverty people complain about is not exclusively a federal issue. Nigerians should start holding their state governors accountable. What have the 36 governors achieved in the past 24 months with these increased resources? If we evaluate their performance, many would score poorly. Poverty reduction starts at the state and local levels. President Tinubu cannot personally visit every state to address local challenges. Some governors see higher allocations as an opportunity to loot, launching frivolous projects to enrich their inner circle. It’s time Nigerians shift some focus to the states and demand transparency and results from their governors.

    The Supreme Court’s ruling on local government autonomy is being implemented. Once a judgment is delivered by the apex court, it becomes law—no appeal is permitted. The Federal Government has started the process of detaching local governments from the joint account system by facilitating direct accounts with the Central Bank of Nigeria. With 774 local government areas, this is ongoing and systematic. Let’s not forget that it was President Tinubu, through the Attorney General of the Federation, who approached the court in the first place. The resistance from governors is understandable—they have long exploited the joint account system to siphon funds. Most governors, regardless of state, prioritize political ambition over the welfare of their people.

    Insecurity, opposition and the coalition movement

    If there’s any election that looks very easy to win, it’s the 2027 presidential election. There is no real coalition, just a gathering of political figures looking for relevance after losing out on appointments or elections. These are not serious contenders. They’ve accused the president of attempting to create a one-party state, but the real question is: who is to blame if that happens? The president isn’t stopping the opposition from organizing. Rather, it’s the failure of the opposition to offer viable alternatives that’s causing their collapse.

    Back in 2003, the entire South-West was lost to the PDP except Lagos. Tinubu stood alone and rebuilt that political base. He didn’t jump ship; instead, he worked hard over two decades to regain ground. Compare that to today’s opposition: disorganized, leaderless, and confused. Even within the PDP, no one can confidently say who their national chairman or secretary is. Peter Obi, if asked privately, probably doesn’t know who heads his own party. That’s how fractured they are. The so-called coalition is merely a group of disgruntled politicians who didn’t make the ministerial list, lost primaries, or failed in other pursuits. They’re not united by ideology or vision but by personal disappointments. That’s why the president will likely win the 2027 election with ease—they’re too busy fighting among themselves to offer serious opposition.

    No country in the world is free from security issues. In Nigeria, the situation is complex. As the government tackles kidnapping in one region, another region might be facing banditry or insurrection. Our military is stretched thin, operating in over 33 states, which isn’t ideal but shows their commitment. We must give credit to the armed forces—these men and women risk their lives so we can sleep. While security may not be perfect, it’s wrong to say nothing is being done. The president meets regularly with security chiefs, not just for show, but to evaluate strategies for different regions. Security is not one-size-fits-all. Each state has its unique challenges, and the government is responding accordingly.

    The president is also working beyond just kinetic solutions. Improving the people’s welfare is a form of security. Political thugs with access to weapons, often backed by powerful figures, are being targeted too. The weapons needed to fight these threats aren’t bought off the shelf—it takes time and money. A single bomb costs about $200,000. That’s money that could dig hundreds of boreholes. So the government must balance resources. President Tinubu is not resting. Despite being over 70, he stays up late into the night, constantly engaging with stakeholders. Some of us believe the number of visitors he receives should be reduced so he can focus more on governance. Yet, he listens to all advice, evaluates it, and considers its merit before making decisions.

    Endorsements don’t equate to votes. Some of those endorsing the president can’t even win elections in their own families. While some are genuine, others are simply looking for relevance. Tinubu doesn’t let such endorsements distract him. He’s focused on performance. Peter Obi received mass endorsements in 2023—even organized a “one million-man march.” Yet, we saw the result. Tinubu knows that performance, not praise, wins elections. In 2027, he’ll present a track record: infrastructure, reforms, policy impacts—concrete achievements, not mere promises. He may essentially run unopposed in 2027. Who’s challenging him? Parties that can’t name their own executives? A divided coalition with conflicting interests? If we’re honest, looking at where Nigeria was on May 29, 2023—subsidy removed, inflation rising—and where we are now, we can already see gradual improvement. The results may not yet be fully visible, but policy indicators suggest recovery.

    Read Also: Nigeria, Benin Republic agree on joint trade framework

    While some ministers are performing excellently—like the Minister of Works and the FCT Minister—others are underwhelming. The Power Ministry needs urgent attention. The current minister does not seem up to the task, and the president is aware. Unlike the Buhari era, Tinubu won’t allow non-performers to remain for four or eight years. He monitors his cabinet closely and receives real-time reports. Take the Housing Ministry, for instance—completely absent in policy and visibility. Since inauguration, the only time the Minister made news was during a handover ceremony with the EFCC. Such appointees must be shown the door. The Aviation Minister, Festus Keyamo, speaks often but doesn’t follow through. Airline delays, passenger mistreatment, and fare issues persist. You don’t fix that with press statements—you need decisive action. In contrast, Tunji Ojo at the Interior Ministry is working day and night, delivering tangible results. Ministers like that must be encouraged. But those who have faded into the background—like the Minister of State for Petroleum—should be replaced. The Adiza Committee is profiling them, and we expect a cabinet shake-up soon. A non-performing minister is a liability: collecting salary, enjoying privileges, but offering nothing in return. The president must continue to evaluate performance and prioritize the people’s needs.

    Looking ahead to 2027

    Nigerians must pray for and support the president. Nation-building is not the president’s job alone—it’s a collective effort. Every citizen, from the family unit upward, must play a role. If the country fails, we all lose—not just the president. The opposition, frankly, is doing the president a favour by fighting among themselves. Let them continue. Tinubu was once in the opposition himself. He knows the value of structure and long-term planning. Let them build theirs too, not just sit and complain. Their so-called coalition is a joke. They can’t agree on anything, and they leak strategy meetings to the ruling party. How can such a group challenge a disciplined, strategic leader like Tinubu? As 2027 approaches, the president must continue focusing on key sectors—especially electricity and housing. He must ensure his cabinet reflects his vision. Nigerians don’t want excuses—they want results. And if the current momentum continues, Tinubu’s performance may very well win him the next election, with or without opposition.

  • We’ve changed Plateau’s work environment, Perm Secs no longer operate from business centres – Governor Mutfwang

    We’ve changed Plateau’s work environment, Perm Secs no longer operate from business centres – Governor Mutfwang

    •Says I’m in politics, but not a politician
    •’We’ve made remarkable progress in search for peace’

    The People of Plateau State made a bold choice at the 2023 polls with the election of Governor Caleb Manasseh Mutfwang on the platform of the People’s Democratic Party (PDP). It was a vote of confidence anchored on hope, experience and desire for a purposeful leadership and the prosperity of Plateau State. Two years after, the governor, in an interaction with select journalists, including KOLADE ADEYEMI, explained how his administration has handled such issues as security, economic development and supply of infrastructure, among others

    How would you describe the first two years of your administration in Plateau State?

    First, I must place my gratitude to the people of Plateau State for their support and for believing in our transformative leadership since we came into government in 2023. We have restored hope and confidence in governance and we have brought inclusive development across all segments of the state without sentiment.

    We have also enjoyed a tremendous relationship with the media, and I want to thank you for your sense of patriotism so far deployed. Some of the reports have demonstrated that you are actually stakeholders in the Plateau project. The essence of the media is not to destroy; it is to build. Therefore, whatever you report should add value to the state.

    Let me go back the memory lane. When we took over on May 29, 2023, we were not oblivious of the challenges we were going to confront. The first was, of course, the issue of security. Those who have followed us would remember that we convened a security council meeting two days after we were sworn in, and to our chagrin, we found that none had been held for close to a year.

    We immediately swung into action, trying to appraise the security situation, and see how we could re-motivate the security agencies.

    It is unfortunate that the security challenge has not abated as we had hoped. But one thing we have done is that sometimes it is difficult for people to appreciate what government has done when these challenges continue. But, I assure you that we will not relent. We are reviewing our strategy to ensure lives and property are guarded in the state. But I want you to know that if we hadn’t done the much we have done with the intelligence at our disposal, Plateau State would be a different place. There are so many details we cannot reveal, but I’m glad to tell you that Plateau State is relatively safer than most states.

    At the moment, we do not have any local government that is completely a no-go area, unlike some states. What we have are very opportunistic attacks that come in and then they disappear.

    We don’t have a resident camp of bandits on the Plateau except situations that have arisen in Wase Local Government Area. But I’m glad to tell you that we’ve been able to push back and we’ve been able to substantially regain ground in Wase. That is why today, the grazing reserve in Wase is available for investment by the grace of God.

     What new strategies are you bringing on board to confront the persistent security challenges?

     We have continued to re-jig our efforts to make sure that we stem this tide, and I’m sure that with the efforts we are putting in place, we’re going to see significant improvements not too long from now. One thing I must say is that we brought Operation Rainbow back to the frontier of security operations. Today, there are people who are complaining about the operations of Operation Rainbow, and I believe that if Operation Rainbow was not functioning, they would not complain against it. But it has been a good compliment to the security agencies on ground, and, going forward, we can only strengthen it and not take it out.

    More than the issues of security, which has beclouded the progress we have made, is that what we promised the people of Plateau State is leadership. We promised that we’re going to lead, we are not going to be political.  As a matter of fact, I tell people that I am not a politician. I’m in politics, but I’m not a politician. I’m in politics because that is the only platform by which you can come into governance in our country. And my attitude is not just to be in office for the sake of it, but to be able to provide leadership that will take Plateau State to the level where we all dream it to be: a state that is economically buoyant, economically self-sufficient. It’s a state that can compete with other states in Nigeria, even beyond the shores of this country.

    What is the kind of leadership you wish to give Plateau State that is different from what had been seen in the past?

    Going with the leadership that we promised, we have brought hope to our people. We brought hope that they can expect something tangible. That government and governance is not an avenue for wishful thinking or deceit. That governance is for the benefit of the people. And I think if you ask me what our achievements are, one that I can readily point out is that we have brought hope back to the people of Plateau State.

    I know that we haven’t fulfilled all their expectations, but the people of Plateau State can at least hope that things will get better tomorrow.

    That, for me, is very important, and so; this has been the focus of our administration; that in every critical sector of our lives, in education, healthcare, sports, economy, agriculture, mining; in fact, all the sectors of our lives, that we are able to let people know that things can be better.

    That is why the way we have approached our output in governance is to see how we can turn around every sector for the betterment of our people.

    Over the last two years, by the grace of God, we’ve done the much we could have done within the constraints of resources at our disposal. I recall that when we came in, we found a backlog of four and a half salaries unpaid, and what we did immediately was to re-jig the state’s finances and reach out to our creditors, and we were able to resolve the issue of unpaid salaries within a few months. I believe within the first two months, we were able to fix that situation. And I’ve often said it, that payment of salaries is a duty. It’s a responsibility, and therefore, we don’t count it as an achievement. We have only done what we were supposed to do. If all we were elected for was to pay salaries, then I think it’s not worth it. Anybody can do that.

    But I’m glad that we are able to stabilise that situation. I’m also glad that when the issue of minimum wage came on board, we were among the states that were able to start the implementation. I believe with the new minimum wage, our civil servants today will testify that the work environment has improved. We met a situation where ministries, departments and agencies were conducting a lot of government business outside government offices. And it was pathetic that our permanent secretaries were going to business centres. But we’ve been able to give hope back to the service.

    Some of them had not gone for any training for a couple of years before we came on board. Today, I believe that there is a revival going on. We are not there yet, but there is work in progress. We have dealt into how to improve the lives of our people.

    Would you say the removal of fuel subsidy has affected the states positively with regards to transportation?

    One of the key policy decisions of the federal government when we came on board was the removal of fuel subsidy. Of course, it left a gap in the standard of living, in purchasing power of people and government. What we did immediately was to see how we could ameliorate the situation, and that is why we’ve made tremendous investments in the transport sector. For example, we decided to go on and make sure that we improved public transportation by subsidising it.

    Instead of giving people palliatives, we thought that this kind of palliative would count. I believe that we found that at the end of every month, an average user of our public transport was going to save 39 to 50,000 monthly. For us, that is a more transparent way of making more cash available to people, because those savings can be deployed elsewhere.

    Read Also: 10 fully funded global scholarships for Nigerians to explore

    That is why we also made sure that we worked on the railway system. Globally, the railway is one of the cheapest means of transportation. We had to collaborate with the Nigerian Railway Corporation. We had some issues, but I am glad that despite some of the challenges we’ve had in that sector we’ve been able to bring it back again on line and I am sure in the last week or two people are using the train service effectively.

    I’ve read some social media comments deriding what we have done. Why are we not doing the blue metro line like in Lagos? Of course, like people would say, the journey of a thousand miles begins with one step. I believe that we can only get better. We are not retrogressing.

    When we came also on board, you remember that there were issues even with air travels, and I am glad that we were able to restore that service to the people of Plateau State. In fact, if anything, it has improved because we now have at least three flights in and out of Abuja every week, and then we have about six flights in and out of Lagos and in and out of Jos. We have improved tremendously.

    One of the things that I am happy with the media community about is that you have not painted Jos as a no-go area.  And that is why today I am glad to let you know that our room occupation rate in our hotels is one of the highest in the country, because people come into Jos and sometimes they struggle to find hotel rooms to sleep.

    Now what that has done also is that standards of hotel accommodation are beginning to improve because competition is there and I am glad that this year we’ve also been able to hold a lot of high-profile events where a lot of visitors have come into town. I remember we had almost a category of about a thousand lawyers when the Nigerian Bar Association Legal Practice section had their conference.

    We also recently hosted the north central zonal consultation of the Senate Committee on Constitutional Review which brought a lot of people out of South America and we had our own group from outside the state.

    We’ve had diplomats come in here, and the amazing thing is that all of them that have come are amazed that this is not what they told us about Plateau. They discovered that Jos particularly is a very peaceful, pleasant, attractive city to visit and to stay in. And they have continued to be our ambassadors outside the state.

    Despite all the destruction brought by insecurity, by the grace of God, we have continued to attract people to this state, and I’m sure we can only do better as the days go by, and so aligning the transport sector with our general urban renewal programme, we’ve been able to make a lot of investments in urban infrastructure, the roads we’ve had to construct.  And that is where, like the commissioner said, we’ve demonstrated inclusivity. We have made sure that the road infrastructure traversed the entire nooks and crannies of the city. We didn’t discriminate; we made sure that we went into Muslim areas, Christian areas, so-called.

    There is improvement in infrastructure. What is the secret of this improvement in spite of other competing demands?

    People are seeing the benefits of infrastructure. Along that line, of course, we didn’t just stay in the city. We’ve been able to go back to all the local governments. I’m glad to inform you, and I’m sure the Director of Press and Public Affairs can give you the details of all the road constructions going on in virtually every local government on the Plateau.

    And the interesting thing is that we are not awarding new contracts, particularly for the local governments. We are only trying to complete the well-thought-out projects under the last PDP government of our father, Da Jonah Jang, that most of those contracts were awarded during this era, but they were not followed through, and we believe that governance is a continuum.

    There is no need to discriminate as to who started which project, as long as it’s for the benefit of the people of the state. That is why we’ve been able to mobilise most of those contractors to go back to site.

    Where we have not started is a work in progress, and we are confident that by the grace of God, between now and early next year, we are going to see tremendous impact in terms of the road infrastructure. We are looking at it from different angles.

    Some of it are from the World Bank projects we inherited, but we need to manage them well in order to get the desired impact. And so, for us, this has been very key. Road infrastructure is what benefits everybody. There is no limitation as to who benefits what. And even for car owners, when the roads are better, your cars stay longer, and I believe that that is a benefit to all.

    What interventions would you say you have done in the education, health and other sectors since 2023?

    When we came in, we found that the education sector was completely in disarray. I can tell you that when we took over, Plateau Polytechnic, for example, was about to lose many of its courses because of non-accreditation. We immediately swung into action. At the time we came in, it had sunk to the lowest of about 3,000 admissions. Today, we are above 6,000, getting towards 7,000 with confidence coming back, and I’m glad that we were able to make those changes. The changes we made in those institutions are yielding the desired dividend.

    At the Plateau State University, we were able to also stabilise things, and I’m sure that if you go there today, you are going to find significant improvement, because we have not only improved the quality of teaching, we have been able to also increase the faculties, and work is going on steadily in the state university.

    At the College of Education, Gindiri, we have also made quite some giant strides, one of which was to get the approval of the National Universities Commission to start about 17 degree programmes in addition to strengthening what was already on ground. But we didn’t just stop there. We have been able to go down to look at the secondary level. We are looking also at the basic education level, and one of the things we are doing is to be able to put round pegs in round holes to make sure that the system functions the way it should.

    We are beginning to lay emphasis on continuing education, particularly for personnel in the education sector, so that they could continuously improve themselves. So, we are making progress. We are trusting God that the journey we have begun in the education sector is to reposition education on the Plateau within the next two years. When we came in, in the next WAEC, you would notice significant changes, and we are making steady improvement in that sector.

    In the health sector, the situation we found was rather despondent. We swung into action immediately, dealing with it from the primary health care, which is the foundation, to the tertiary institution, which is the Plateau Specialist Hospital, and I was glad when we celebrated the two years anniversary. Some of you went with us on a tour of the hospital where a lot work has been done, projects that started during the Jang administration we were able to complete them, and today, one of the high points of that initiative is the setting up of a modern lab, which is comparable to any lab institution in the country.

    Today, I want to believe that our medical personnel will not be doing guess work; they will do evidence- based diagnosis to be able to deal with all the complaints of the people. We also have been able to improve the departments within the hospital. We have moved from two departments to six departments. We have also brought the dental clinic under the hospital. By God’s grace, we are going to make significant improvements in that sector.

    If you plot a graph in the health sector, I am sure you are going to find that it is an upward trajectory, and then ultimately to cash in on the advantage of our weather to build capacity for medical tourism. We are looking at how to be able to achieve that in the not too distant future. Moreso because we are about to start the Medical Faculty at the Plateau State University. So in the next two to three years, it has become imperative to have a teaching hospital owned by the state. This we hope to pursue by the grace of God.

    I have been reminded that even in the transport sector, I forgot to mention, an MOU was signed with the Federal Airports Authority of Nigeria to be able to designate the Jos Airport as a Cargo International Airport. Therefore, in the next year, we are going to be making investments to make sure that, that airport fits into that purpose so that from here it will become a regional hub for cargo aviation. We are working on that strenuously.

    The mistakes that air hostesses used to make when we were landing in Jos, saying ‘we are about to arrive at Yakubu Gowon International Airport’, I look forward to seeing it become a true International Airport.

    What is the state of the state’s economy vis-à-vis the need to develop its agricultural sector?

    Of course, we are looking at other sectors. We haven’t left them to lie fallow. But we are looking at how to improve the Plateau economy. I cannot talk about the economy without talking about agriculture, which is the main economic driver for us. We discovered that we’ve been doing agriculture with just primitive sense, if I may call it that. Our agriculture is still at a very, very primitive subsistence level, and even though we know that we farm a lot, all the farming we have been doing is far below the capacity of what we should be doing. Therefore, we have gone about setting up the critical infrastructure for improvement and advancement in agriculture.

    We have reorganised the sector. One of the things we did was to split the ministry into two, because we discovered that it’s such a large ministry, and if you are dealing with crops, you’re also dealing with livestock. It is quite huge. We have been able to separate the two so that we can focus critically on it.

    The thing is that God has blessed us so much that whether it is about crops or livestock, we have a natural advantage, and we want to take full advantage of that. In the crop sector, we are doing a lot now to be able to improve our flagship agricultural product, which is what we used to call the Irish potatoes. Now we have named it Plateau potatoes.

  • Why Fed Govt suspended FRC Amendment Act 2023

    Why Fed Govt suspended FRC Amendment Act 2023

    The Federal Government has halted the enforcement of contentious provisions in the Financial Reporting Council (FRC) Amendment Act 2023 after concerns from private sector stakeholders. While the FRC defends the Act as duly passed through legislative processes, analysts are urging greater autonomy for the council to ensure its independence, in line with global best practices, reports Associate Editor ADEKUNLE YUSUF

    The Federal Government has suspended implementation of contentious provisions in the Financial Reporting Council (FRC) (Amendment) Act 2023, following extensive consultations with industry stakeholders. Meanwhile, fresh calls are emerging for the Council to be granted greater operational autonomy, enabling it to function independently in line with its counterparts in other leading economies.

    Under the leadership of Executive Secretary Dr. Rabiu Olowo, the FRC is tasked with developing, publishing, monitoring, and enforcing accounting, auditing, actuarial, valuation, corporate governance, and sustainability standards for Public Interest Entities (PIEs) in Nigeria through its seven specialised directorates. Minister of Industry, Trade, and Investment Dr. Jumoke Oduwole recently announced the suspension after high-level engagements with key industry groups, including the Nigeria Employers’ Consultative Association (NECA), the Association of Licensed Telecommunications Operators of Nigeria (ALTON), and the Oil Producers Trade Section (OPTS).

    Central to the controversy is the reclassification of large private companies as PIEs, requiring them to remit annual dues of between 0.02 and 0.05 per cent of turnover without a ceiling. Critics argue that this contrasts sharply with the N25 million cap applied to publicly listed companies, raising fears that such provisions could escalate compliance costs and dampen investor confidence. Oduwole stressed that the pause reflects President Bola Ahmed Tinubu’s pro-business stance under his administration’s 8-Point Agenda. She noted that a stakeholder consultation was held on March 26, 2025, leading to the administrative pause and the creation of a Technical Working Group to review the contentious provisions and propose workable reforms.

    Based on the findings, Oduwole said President Tinubu recommended the continuation of the pause pending legislative review. “To provide immediate relief, the Ministry has now directed the Financial Reporting Council to impose an interim cap of N25 million on annual dues for private sector PIEs, aligning them with the publicly quoted companies. This move will ensure regulatory equity, boost investor confidence, and allow for a broader review of the Act, with input from the Ministry of Justice where necessary,” she added.

    In defence of FRC Act 2023

    Analysts have defended the Financial Reporting Council (Amendment) Act 2023, stressing that it underwent the full legislative process before its passage. They note that the amendment did not occur during the tenure of the current Executive Secretary, Dr. Olowo. According to them, the provisions of Section 33 were carefully crafted to distinguish between listed and non-listed entities. Listed companies, they argue, are already subject to rigorous oversight by multiple sectoral regulators, including the Securities and Exchange Commission (SEC) and the Nigerian Exchange (NGX). In contrast, non-listed entities, which operate with fewer external checks, require an additional layer of scrutiny to ensure transparency and accountability.

    “The practice is the same in other jurisdictions. The use of turnover is used in other jurisdictions. It is even higher in Kenya. The organised private sector has forced the government to go against the separation of powers, with a presidential directive being used to amend a law rather than going through the legislative process.  Now they want to go further to dictate how the presidential directive is to be enforced,” they said.

    Read Also: FG launches YouthCred credit scheme to support 400,000 young Nigerians

    The stakeholders further explained that attempts are being made to push for selective amendments to the law without due recourse to the National Assembly. They cautioned that such moves send the wrong signal, especially as the international and business communities are closely observing developments. In their view, it is inappropriate to interfere with a legislative process or to direct and instruct a statutory agency on how to carry out its mandate.

    They added that true independence for regulators like the FRC is critical. In many jurisdictions, similar bodies operate with a high degree of autonomy, safeguarded by the very laws that establish them. Granting the FRC the same independence, they argue, would enhance its credibility, strengthen regulatory oversight, and align Nigeria with global best practices. “What are they telling the FRC to do? Change its laws by itself? Disobey the law of the land? It is a dangerous precedent that would give an agency of government the power to modify its laws at will. If the organised private sector has an issue with the law, let them go to the National Assembly. If they had done so since the beginning of this fight with FRC, the law may have been amended by now. Rather, they have resorted to ambush and arm-twisting the FRC. Changing laws at will is not to be encouraged,” experts said.

    Stakeholders insist that preventing regulatory capture and safeguarding oversight integrity are essential to maintaining the authority of regulatory bodies. “The government must remain vigilant in this regard. Agencies like the Financial Reporting Council (FRC), established through transparent legislative procedures, have their independence and mandates enshrined in law. Any move to subvert or dilute these legal powers—whether by private sector pressure or administrative overreach—risks rendering regulation ineffective. The experience from global counterparts such as FRC UK, FRC Mauritius, and the PCAOB demonstrates the value of strong, independent oversight for corporate accountability,” they said.

    According to them, the notion that regulated entities should influence how they are monitored introduces a structural flaw into the governance system—one that could embolden corruption and trigger avoidable corporate failures. While the OPSN’s willingness to engage government on key economic issues is a welcome development, it must avoid actions that could be interpreted as undermining the law or pushing regulatory agencies to overstep their legal mandate. Instead, OPSN should champion lawful governance and encourage strict adherence to established procedures. “Relying on executive shortcuts to amend laws like the FRC Act may seem expedient, but it undermines democratic norms. When similar approaches are used in other areas, those who once supported administrative fiat may find themselves without moral leverage to object. We therefore encourage OPSN to seek redress through the National Assembly, working through the appropriate committees to build a solid legal foundation for reform. Civil society and conscientious citizens must also insist on the rule of law as the bedrock of effective regulation,” they stated.

    FRC Act 2023 milestones

    In its response to the Nigeria Employers’ Consultative Association (NECA) report, the Financial Reporting Council clarified that the 2023 amendment of its Act was designed to strengthen the Council’s capacity and regulatory effectiveness. Key objectives included reducing the size of the Board to minimise conflicts of interest, providing a clearer definition of Public Interest Entities (PIEs) to remove ambiguities, protecting significant private entities from potential failure, and expanding the enforcement powers necessary for the Council to fulfil its statutory mandates.

    The amendment process began on October 28, 2020, when the FRC Board established a six-member committee to review the Financial Reporting Council Act 2011. This was followed by oversight visits by the National Assembly committees on June 17–18, 2021, which identified gaps in the 2011 Act, especially in addressing emerging trends in financial and corporate reporting in Nigeria. The draft Bill progressed through legislative procedures, with readings held on October 7 and November 23, 2021, and a public hearing convened on February 1, 2022, for stakeholder engagement. The Senate passed the Bill on November 30, 2022, and the National Assembly gave final approval on January 31, 2023. It was transmitted to the President on April 5, 2023, signed into law on May 3, 2023, and gazetted on July 19, 2023.

    The FRC’s mandate is to promote trade and investment by ensuring high standards of financial reporting and corporate governance, protecting investors and stakeholders. Its vision is to serve as “the conscience of regulatory assurance in financial reporting and corporate governance in Nigeria,” while its mission focuses on building investor confidence, strengthening oversight, and ensuring quality in accounting, auditing, actuarial, valuation, corporate governance, and sustainability reporting.

    The Financial Reporting Council notes that the definition of Public Interest Entities (PIEs) differs globally but generally hinges on systemic importance, including accountability, economic impact, and market influence. Nigeria’s Section 77 of the FRC Act defines PIEs to include government bodies, listed and regulated entities, public limited companies, holding firms of regulated entities, concessionaires, privatised entities with government interest, and firms handling public works above ₦1 billion or with turnovers exceeding ₦30 billion. FRC says these provisions ensure oversight of entities with major economic and social footprints. Yet, the Council struggles with underfunding, manpower shortages, limited training, scaled-down inspections, and inadequate infrastructure, hindering its ability to fully meet its mandate.

    Transformative strides at the FRC

    In recent years, the Financial Reporting Council (FRC) has modernised its operations, notably through a sweeping digital transformation and creation of a national financial statements repository to boost transparency and oversight. Two new directorates—Actuarial and Valuation—have expanded its regulatory scope, supported by new rules like ICFR, Rule 13, and Rule 14, plus resumed audit firm inspections.

    The Council has championed actuarial education, issued a Corporate Governance Code for SMEs, and launched the Adoption Readiness Working Group for Sustainability Reporting. Other initiatives include industry-focused IFRS sustainability trainings, establishing an Islamic Financial Services Division, and running “Train the Trainers” programmes for MSME practitioners with UNCTAD ISAR. A structured capacity-building plan for staff and a globally competitive fee regime underscore the FRC’s drive to strengthen Nigeria’s financial reporting and corporate governance landscape.

    Position of NECA and other OPSN members

    In a joint statement, the Nigeria Employers’ Consultative Association (NECA) and other members of the Organised Private Sector of Nigeria (OPSN) commended President Tinubu and Dr. Oduwole for suspending contentious provisions of the Financial Reporting Council (FRC) (Amendment) Act 2023.

    Signed by the heads of MAN, NACCIMA, NECA, NASSI, NASME, and endorsed by ALTON, OPTS, and over 30 sectoral associations, the statement welcomed the cap on annual dues for private-sector Public Interest Entities (PIEs) at ₦25 million, matching the limit for listed companies. OPSN called it a clear signal of the administration’s pro-investment and Ease of Doing Business commitment. The decision followed months of technical reviews amid fears that the uncapped, turnover-based levy in Section 33 would disproportionately burden large, unlisted firms. OPSN also presented comparative data showing that peer regulators in the UK, US, South Africa, Kenya, Canada, Australia, France, Germany, and Egypt favour predictable, proportionate funding through capped fees, appropriations, and profession-linked charges—eschewing open-ended turnover-based levies.

  • YEEP: Vodi Tailors gives entrepreneurs 40 brand new sewing machines

    YEEP: Vodi Tailors gives entrepreneurs 40 brand new sewing machines

    The Chief Executive Officer (CEO) of Vodi Tailors, Mr. Seyi Adekunle has distributed 40 brand new customized sewing machines to 40 youths with tailoring skills. 

    Adekunle, who was a guest panelist at the National Youth Entrepreneurship and Empowerment Summit (YEEP’25) where over 80 youths were empowered through various sponsorships and awards, made a pledge to gift 40 young tailors 40 sewing machines to boost youth entrepreneurship.

    Held in Abuja, the summit organised by Activate Success International Foundation, a Non-Governmental Organization (NGO) aimed to equip young Nigerians with essential tools, mentorship, and access to grants to grow their ventures, fostering youth entrepreneurship and driving economic growth in Nigeria attracted over 2,300 registrations from enthusiastic young Nigerians including past and serving members of the National Youth Service Corps (NYSC). 

    Adekunle, who shared his inspiring story of humble beginnings at the summit, said he was also giving out the machines in commemoration of his 50th birthday last week.

    The beneficiaries of the sewing machines expressed their gratitude to Adekunle for his generosity and commitment to empowering young entrepreneurs.

    According to some of them, the “gift is a game-changer for us,” which will help them to improve on their tailoring businesses and enable them to create jobs for others.