Tag: Nigeria

  • Nigeria, UK to boost gas sector regulatory framework

    Nigeria, UK to boost gas sector regulatory framework

    The Federal Government has taken a significant step towards strengthening its gas sector regulatory framework through a strategic partnership with the United Kingdom’s Office of Gas and Electricity Markets (Ofgem). Besides, the government also seeks to draw insights from OfGEM’s practices in promoting investor confidence and consumer protection.

    The partnership was sealed during a meeting in London between the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo and officials from OfGEM and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

    The Spokesman for the Minister of State Petroleum Resources (Gas), Louis Ibah, in a statement made available to The Nation, yesterday, noted that the collaboration aims to enhance regulatory innovation and capacity development in Nigeria’s gas sector, with a focus on domestic utilisation, regional energy integration, gas-to-power projects, expansion of infrastructure through targeted investment and innovation, including pipelines and Compressed Natural Gas (CNG) networks.

    It further noted that Ekpo, during the meeting emphasised the need for strong collaboration between Nigerian and UK-based firms to boost investment in gas development, stressing that partnerships between the two countries could attract investments to bolster Nigeria’s gas infrastructure.

    The Gas Minister also highlighted the importance of developing regulatory frameworks that support the integration of renewable gases, such as hydrogen, into Nigeria’s energy mix.

    “By fostering partnerships between Nigerian entities and UK-based firms, we can attract investments that will bolster our gas infrastructure, ensuring efficient delivery and utilisation,” he said.

    Read Also: Renewed Hope Ambassadors lauds Tinubu’s reforms In oil and gas sector

    “Nigeria is committed to reducing methane emissions and promoting decarbonisation in our upstream operations,” Ekpo added, while seeking OfGEM’s experience in overseeing emissions management. Let us continue to forge pathways that lead to a more prosperous and energy-secure future.

    NMDPRA’s Chief Executive, Farouk Ahmed, commended the engagement, describing it as a timely intervention for Nigeria’s regulatory development.

    “With osprey investments bridging the gap, we are tapping into global expertise to build a resilient, transparent, and investor-friendly midstream framework,” he said.

    Both the Ministry and NMDPRA have reiterated their commitment to sustained collaboration with OfGEM to drive reforms that align Nigeria’s gas sector with global sustainability and economic goals.

  • Global investors back Nigeria’s economic reforms at Nasdaq forum

    Global investors back Nigeria’s economic reforms at Nasdaq forum

    Nigeria’s ongoing economic reforms received a boost at a high-level forum hosted by the Central Bank of Nigeria (CBN) at the Nasdaq Market Site in New York, as global investors, financial leaders, and members of the Nigerian diaspora expressed confidence in the country’s transformation.

    The event, held just ahead of the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group, brought together top decision-makers including Joyce Chang of JPMorgan Chase, Jason Rekate of Citi, Razia Khan of Standard Chartered, and Ahmad Zuaiter of Jadara Capital Partners. Together, they acknowledged Nigeria’s recent gains in economic policy, governance, and financial stability as strong indicators of renewed investment potential.

    According to a statement issued by the CBN on Saturday, the panel discussion titled, “Repricing Nigeria: Assessing the Scope for Sustained Change,” served as a platform to present the country’s economic progress to global stakeholders. The conversation moved beyond surface-level commentary, focusing on concrete reforms and the prospects for sustained recovery.

    CBN Governor Olayemi Cardoso led the discussion on Nigeria’s reform journey, presenting his vision for a more resilient and transparent financial system. He outlined recent policy moves including tighter monetary controls, improved transparency in the foreign exchange market, and stronger institutional oversight.

    Read Also: Keep supporting Tinubu, Fubara tells Rivers people

    “These reforms aren’t merely policy adjustments,” Cardoso stated. “They are foundational pillars rebuilding Nigeria’s economic architecture for generations to come.”

    In an exchange with Nobel Prize-winning economist Dr. James Robinson, Cardoso shared his goal of transforming the CBN into a world-class institution, one that commands global respect and serves Nigerians with integrity and efficiency. “We inherited a crisis of confidence but chose a different path,” he said. “We’re not turning back.”

    The CBN Governor made it clear that the current administration is committed to policies that rebuild trust, attract capital, and support long-term growth. The message resonated with investors who are keen on transparency, stability, and clear policy direction.

    Deputy Governor Muhammad Sani Abdullahi also spoke at the event, presenting recent data that reflect Nigeria’s gradual economic rebound. He pointed to improved turnover in the foreign exchange market, early signs of inflation moderation, and rising external reserves. “We’re witnessing the green shoots of recovery,” he said. “With a market-determined exchange rate and a transparent, rules-based policy framework, confidence is steadily returning.”

  • Countrywide killings: Put Nigeria on war footing

    Countrywide killings: Put Nigeria on war footing

    In about two tumultuous weeks of insane bloodbath traversing Plateau and Benue States as well as bandit-infested Northwest and Boko Haram-ravaged Northeast, hundreds of people have been killed and dozens of communities sacked and occupied. It is pointless pretending that the conflicts in various parts of the country have been contained or that the situation is still manageable. What is truer is that the conflicts are getting out of hand, even if the death toll has not assumed the humongous proportions they reached under the past administration. In addition, despite rampant analytical equivocation by the political elite from all regions of the country, it is also now abundantly clear that both Nigeria’s security paradigm and military doctrine have become inelastic and incapable of responding adequately to the existential threat facing the nation.

    It is time to think outside the box in understanding the foundations of the crises and conflicts and in proffering solutions. The first place to start is finding common ground between the affected states’ and the federal government’s interpretations of the existential threat. While it is conceded that the conflicts differ in origin from state to state, particularly when it involves banditry and ISWAP/Boko Haram insurgency in the Northwest and Northeast respectively, in the fertile lands of the Middle Belt, there is a huge similarity. The states and federal government must call a spade a spade. Responding to the killings in Plateau State for instance, which has gripped the country in the past two weeks for their relentlessness and brutality, the federal government appears undecided what the conflicts’ nature looks like, whether it is ethnic cleansing and genocidal madness or communal, herders-farmers or revenge clashes. Once the conceptual origins of the conflicts are misconstrued, responsibility for containing it may become skewed.

    This may be why the federal government’s statement issued after the second round of killings in Plateau State raised some angry concerns in the beleaguered region. In a statement last week, the federal government had said: “We cannot allow this devastation and the tit-for-tat attacks to continue. Enough is enough…The ongoing violence between communities in Plateau State, rooted in misunderstandings between different ethnic and religious groups, must cease. Beyond dealing with the criminal elements of these incessant killings, the political leadership in Plateau State, led by Governor Caleb Mutfwang, must address the root cause of this age-long problem. These problems have been with us for more than two decades. We can no longer ignore the underlying issues.” While it is true that the problem has festered for more than two decades, the reason is due more to the federal government’s incompetent appreciation of the crises as well as bias. For decades the problem persisted; now it has metastasised. Over 60 communities have been sacked in Plateau, renamed, and most of them occupied. It is a replacement strategy, not communal clashes, and certainly not herders-farmers war.

    Read Also: Keep supporting Tinubu, Fubara tells Rivers

    When the sacking of communities began decades ago, the federal government failed to respond appropriately or reclaim sacked communities for their rightful owners. It was clear that a sinister objective was at play, an objective that has seemed to expand over the years due mainly to the acquiescence or/and ineptitude of the security and law enforcement agencies. After many such attacks, certain associations had come forward to virtually claim responsibility and issue warnings and preconditions for peace. Yet, except on one or two occasions, no one was arrested, no real investigations were ordered, and no one was held to account. Sensing complicity, the attackers had grown bolder, more insensitive, more barbaric, and more audacious. Having metastasised, the problem has dangerously morphed symptomatically into ethno-religious colouration. It is, however, only superficially ethno-religious. It is more fundamentally about land, arable land, and about a weak and dishonest appreciation and application of law and order.

    Harassed and bedraggled, Governor Caleb Mutfwang, like many of his predecessors, has spoken from both sides of his mouth. He knows and has argued that the conflict in his state is about land, but unable to wield and project the kind of force needed to deal with the menace and reclaim sacked communities for their rightful owners, he has reluctantly embraced superficial panaceas to stanch the flow of blood. He has talked about outlawing night grazing and limiting the use of motorcycles – just to be seen as doing something forceful to rein in the madness on the Plateau. And unlike the federal government, he has acknowledged that foreign militias, egged on by local sponsors, were mostly behind the mindless attacks. Knocking the foreign militias and their nefarious ideologies into a cocked hat is obviously not the job of states, no matter how dutiful and well-meaning. It is the job of the federal government and its security agencies. It is a job for the heavy lifters, and for the heavy guns. Overthrowing a sinister ideology propagated by foreign elements and their local sponsors is not a job for the small lifters. While the state, as Mr Mutfwang has demonstrated, must be involved and be willing to deploy scarce resources, controlling the influx of dangerous foreign elements and controlling the proliferation of small arms are federal jobs.

    Plateau State may be the exemplification of the existential crises inundating Nigeria from the North and Middle Belt, it is by no means the only one. In different forms, the crises are viciously and unremittingly replicated in the Northeast and Northwest theatres. The military have waged long-running and costly wars in both theatres to control the diseases, but they have been bogged down in waste, desultory executions, and infiltrations. At the current rate of progress, the conflicts could last for another decade. That will, however, be indefensible. The federal government might also in frustration begin to shuffle its cards and replace commanders and service chiefs; but it is a measure they have deployed to no effect in the past two decades. If the government is to see the end of these conflicts, it must step on toes, mobilise huge financial resources, give itself a deadline, embark on general mobilisation of enlisted men and women, and put the country on a war footing. The alternative is too bleak to imagine, for the country appears to be nearing an end game with potentially catastrophic consequences.

  • 15 Katsina councils ranked highest in maternal, child mortality rates in Nigeria

    15 Katsina councils ranked highest in maternal, child mortality rates in Nigeria

    The Federal Ministry of Health has ranked 15 local government areas (LGAs) in Katsina State as highest in maternal and child mortality rates in Nigeria

    The Sector-Wide Coordinator and National Coordinator of the Ministry of Health, Dr. Muntaqa Sadiq Umar, who made the disclosure during the closing ceremony of the Maternal and Neonatal Mortality Reduction Innovation Initiative MAMII,in Katsina, said the country has struggled with poor health indices especially in maternal and child health challenges 

    Umar, who was represented by Mr. Omoruyi Iyahen, added that MAMII was designed to change that narrative by working directly with the states’ health authorities 

    He said: ”Out of 172 LGAs nationwide identified as high-risk zones for maternal mortality, 15 are located in Katsina alone, prompting the Federal Government to prioritise the state in its intervention plans. 

    “The Minister of Health gave us a clear mandate to go beyond policies in Abuja and get to the heart of the problem. 

    “That’s why Katsina is a priority. With the efforts seen here, especially from the state government and the First Lady, we believe results will start to change even before 2027.”

     Katsina First Lady, Hajiya Zulaihat Radda, also expressed deep concerns over the escalating rates of maternal and neonatal mortality in the state, describing the situation as “distressing and unacceptable.”

    Read Also: UNICEF, media rally support to eliminate polio in Katsina

    She said: ”According to recent data, Katsina records over 1,000 maternal deaths per 100,000 live births, while neonatal deaths exceed 66 per 1,000 live births, placing the state among the worst nationwide.

    “These figures represent far more than statistics, they are the lives of women with dreams, families, and futures lost to preventable causes,” 

    She further highlighted the work of her NGO, the Safe Space Humanitarian Initiative (SASHI), which she said has trained 50 community-based volunteers to promote antenatal care and safe deliveries among expectant mothers in rural areas.

    According to her the volunteers are on the ground, encouraging women to attend clinics and deliver their babies in health facilities

  • Nigeria joins Chad, Niger Republic, others to fight polio in Chad Basin

    Nigeria joins Chad, Niger Republic, others to fight polio in Chad Basin

    Nigeria has joined Cameroon, Chad, Niger Republic and the Central African Republic (CAR) to launch a synchronised vaccination campaign in a major push to eliminate the circulating variant poliovirus type 2 in the Lake Chad Basin, it has emerged.

    Nigeria’s Coordinating Minister of Health and Social Welfare, Prof. Ali Pate, explained in N’Djamena, Chad on Friday that the initiative aims to vaccinate 83 million children under five across the five countries, signalling a major stride in the region’s fight against the ongoing threat of polio.

    He stressed that the joint effort became imperative considering that over the past year, the variant poliovirus type 2 has been identified in environmental samples and among affected individuals in Nigeria, Niger, Chad, and Cameroon with a total of 210 detections. 

    This was revealed on the Facebook account of the Ministry of Public Health of Chad on Friday following the launch of the joint effort in N’Djamena.

    Records have indicated that of the total figure, 140 cases resulted in paralysis and that while no cases have been confirmed in CAR, so far, the region remains vulnerable due to high mobility and porous borders, making cross-border transmission a constant risk.

    Records also indicated that Chad had been particularly affected, with more than half of its reported polio cases in 2024 traced to the strain circulating in neighbouring Cameroon. This underscores the critical importance of synchronizing efforts across borders to effectively stop the virus in its tracks.

    In 2024 alone, nearly 12 million children were vaccinated in mass immunization campaigns throughout the region, it was noted. 

    While commending the Chadian government for hosting the event, Pate acknowledged its impact of bringing together basin countries and strengthening their dynamics in the fight against polio.

    “This synchronised campaign is an opportunity to engage more officials at various levels in these countries for the goal of coordination,” he said.

    Stressing the importance of building on that momentum, Pate announced that a new round of synchronized polio vaccinations is scheduled from April 24 to 28, 2025. 

    The campaign will focus on high-risk, underserved, and mobile populations, especially in border communities where surveillance and immunization rates remain below target levels, he added.

    An estimated 1.1 million health personnel, including vaccinators, community mobilizers, and monitors will be deployed to ensure every eligible child is reached, he also noted

    Chad’s Minister of Health, Hon. Abdelmadjid Abderahim, said, “The Lake Chad Basin remains one of the most challenging areas in our fight to eradicate polio. A unified approach is our strongest weapon”.

    The World Health Organisation’s (WHO) Representative in Chad, Anya Blanche, spoke about the need to fight polio together and thanked leaders at different levels for their contribution to health action. 

    The massive presence of the actors is a sign of the goodwill of all to fight against polio, Blanche said.

    The head of the delegation of Cameroon, Bachir Hassan Ben said that the fight against polio knows no borders but requires the States of the Lake Chad basin to mobilize without fail for the success of this campaign.

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    Niger Representative, DAïchatou Djibo Alfari, welcomed the actions being taken by Lake Chad Basin countries and praised the efforts being made by opinion leaders alongside policymakers and health stakeholders to combat polio.

    The officials noted that the campaign aligns with both the Africa Regional Polio Eradication Action Plan and the Polio Eradication Cross-Border Coordination Plan 2024–2025. 

    The frameworks were endorsed in August 2024 and updated in February 2025 to reflect current challenges and epidemiological trends, they also noted.

    As part of the launch, the Health Ministers convened behind closed doors to assess data, strategize solutions, and strengthen regional cooperation. 

    The coordinated action, according to them, is also timed to coincide with African Vaccination Week, themed ‘Immunization for all is humanly possible’.

  • U.S. tariff policies ‘ll bolster China-Nigeria economic, trade ties —Envoy

    U.S. tariff policies ‘ll bolster China-Nigeria economic, trade ties —Envoy

    Chinese Ambassador to Nigeria, Yu Dunhai, says the challenges posed by the tariffs which the U.S. recently imposed on global trade will bolster China-Nigeria economic and trade ties.

    Yu, who made this known during a news conference yesterday in Abuja, said the new development was an opportunity to bolster China-Nigeria partnership amid the challenges it posed.

    He emphasised that the U.S. tariff controversy had the potential to engender mutual cooperation between the two countries, describing it as a “crisis with opportunities.”

    The news conference was held to address the prevailing China-U.S. economic, trade and tariff issues.

    The ambassador underscored the significance of upholding a free and open multilateral trading system, describing it as crucial for driving African countries’ development and revitalisation initiatives.

    Read Also: Insecurity: Sokoto steps up mechanisms against banditry, other crimes for peace, stability

    “African nations are committed to development and revitalisation, which requires a free, open multilateral trading system and a stable, predictable global environment.

    “History has shown that China is a reliable partner for Africa, trustworthy, mature, and steadfast.

    “China’s development and commitment to high-level openness will bring much-needed stability to an increasingly uncertain world,” he said.

    Yu reiterated China’s commitment to expanding market access, particularly for least-developed countries in Africa.

    According to him, this is exemplified by the zero-tariff treatment pledge made during the recent Forum for China Africa Cooperation’s (FOCAC) Beijing Summit.

    He highlighted the tangible opportunities that had emerged for African nations as a result of China’s market initiatives.

    Yu also expressed optimism about the potential for enhanced cooperation between China and Nigeria in various sectors, such as increased exports, investments in key industries, and infrastructure development.

    The envoy underscored the positive impact such collaborations could have on the economic growth and modernisation of Nigeria.

    He stressed China’s dedication to work closely with Nigeria to realise the outcomes of the FOCAC Summit and promote mutually beneficial partnerships.

    Yu highlighted China’s shared commitment to upholding a multilateral trading system, combating protectionism, and fostering a fair international environment for economic progress and global cooperation.

    “Together, we will uphold the multilateral trading system, resist protectionism, and foster an open, inclusive, and fair international environment.

    “Our shared goal is to advance an equal and orderly multipolar world and a universally beneficial and inclusive economic globalisation, building a community with a shared future for humanity,” he said.

  • Nigeria’s security conundrum

    Nigeria’s security conundrum

    Over two years in the life of President Bola Tinubu’s administration, the grave insecurity challenge which it inherited from previous successive governments was evidently concretely being ameliorated. Kidnapping, which had been an almost daily affair in many parts of the country, had largely abated. Intense military onslaughts, especially relentless bombardment by the Nigerian Air Force, had bandits’ backs to the wall in the North-West and their efficacy substantially blunted. In the North-East, Boko Haram had been effectively checkmated, and the extremist religious/terrorist groups’ epicentre, Borno State, was fast regaining its serenity, vibrancy and vitality. Herders-farmers violent clashes in the North-Central, which used to claim lives on an industrial scale, had significantly receded. The administration understandably sounded from the rooftops its accomplishment in scaling up the capacity of the state to safeguard lives and property, which is its primary reason for existence, in less than two years in power.

    All of a sudden, however, all the successes recorded in the security sphere appear to be fast receding, especially over the last several weeks. This is particularly evident in the large-scale killings in ethnic-inspired communal violence in Plateau and Benue States. There have also been gruesome murders in Adamawa while Borno State governor, Professor Babagana Zulum, recently had cause to cry out that Boko Haram is on the rebound in the state with several communities reportedly oçcupied by the insurgent sect. It certainly is not the case that the government has lost the political will to demonstrate and enforce its control and authority over every inch of Nigeria’s vast territory or that the security agencies have slackened in their resolve to live up to their constitutional responsibility to protect the country from internal implosion and external aggression.

    Rather, the problem is with the prevailing security architecture, which can hardly be expected to perform better than it is at the moment, no matter how much resources are poured into security or how desirous the government is to prevail over destabilizing non-governmental actors posing so grave a threat to lives and property across the country. With approximately 400,000 personnel, the Nigerian Police Force (NPF) is clearly insufficiently manned to effectively and efficiently maintain internal security in a complex polity of at least 200 million people. Thus, the military, which should focus on protecting the country’s territorial integrity from external intrusion, has been drafted to enforce law and order in virtually every state in the country through a multiplicity of military task forces. This distracts the military from its core responsibility and stretches it thin in terms of manpower and other resources, thus weakening the potency of its response to threats of terrorism and religious extremism that endanger national security and stability.

    Thus, with the existing security architecture, the nation is rendered vulnerable both to internal criminality and the danger of external infiltration and destabilization. Luckily, the solution to this undesirable and unsustainable situation is right before us and enjoys near-unanimous support across the length and breadth of the country. It is in the urgent decentralization of the security architecture as it is all too clear now that a unitary security system, particularly a police force centrally controlled which is deficient in manpower adequacy, modern equipment and financial viability, cannot effectively maintain security in a sprawling, ethnocultural, federal polity like Nigeria.

    Instructively, under the President Muhammadu Buhari administration, the Northern and Southern Governors Forum, respectively, as well as the Nigeria Governors Forum, unanimously gave their support to the creation of the State Police. Indeed, in response to the widespread clamour for the amendment of the Constitution to accommodate the State Police, the ruling All Progressives Congress (APC) set up a committee headed by former Kaduna State governor Mallam Nasir ‘El Rufai to deliberate and report on the issue. The committee not only recommended the introduction of State Police but came up with draft constitutional amendments to help give effect to the realization of this objective. Unfortunately, not much more was heard of the issue after this.

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    The responsibility to nurture this idea to fruition now rests with President Tinubu especially as all other efforts to tame the monster of insecurity are so obviously not yielding the desired dividends. However, governance under our presidential constitution is collaborative despite the immense powers vested in the Office of the President. Thus, governors, who are most affected by insecurity in various states, must urgently seek an audience with the President to press the issue. In the same vein, the leadership of the National Assembly should prioritize immediate consultation with the President to deliberate on modalities for the requisite constitutional amendments to address a security conundrum that has become an existential threat.

    Of course, the fears of decentralizing policing in a fragile and easily combustible polity like Nigeria, where many governors are inclined to behave like emperors, is real and palpable. How, for example, would a governor who readily demolishes the State House of Assembly complex to prevent suspected impeachment or pulls down multimillion Naira structures owned by his opponents, use or abuse the control of State Police? This danger can be averted by meticulous and careful drafting of the law establishing State Police with necessary checks and balances built in. It has been suggested, for instance, that State Police can be patterned after the judicial system where there is an organic, intricate and interwoven relationship among federal and state judiciaries with ultimate responsibility for appointments and discipline resting with the National Judicial Council (NJC). It is an idea worth considering.

    The benefits of the State Police far outweigh its demerits. State Police outfits will be manned by personnel from the state who are well acquainted with its geographical terrain and linguistic as well as cultural peculiarities. They will have access to funding by the respective state governments thereby freeing the NPF from obligations to the states and thus enabling it to benefit more from federal funding. In any case, state chapters of the NPF are currently being substantially funded by the states. Again, operationally, the State Police will be able to act decisively and timeously to combat crime without having to wait for the approval of a distant centre with all the attendant bureaucratic delays.

    But beyond the security architecture, urgent attention ought to be paid to the structures for intelligence gathering across the various security agencies. Deficient intelligence gathering is clearly a key problem in effectively protecting lives and property in Nigeria. For one, the various criminal elements and groups operate with embarrassing freedom and boldness, obviously treating with utter contempt the intelligence-gathering capacity of the security agencies. With an alert and vigilant intelligence network, most of these acts of violence would have been nipped in the bud before being actualized. Besides, there is a strong possibility that much of the recurrent violence is sponsored by aggrieved political partisans to destabilize the country and discredit the government. Without the requisite intelligence network, it will be impossible to track the activities of such disgruntled and unpatriotic elements and bring them to book, no matter how highly placed.

  • ‘Nigeria receives $30b investment fund from China’

    ‘Nigeria receives $30b investment fund from China’

    Nigeria has received over $30 billion in investment commitments and 300 expressions of interest from different Chinese companies within the last five months to boost bilateral relationship.

    The Director General Nigeria-China Partnership, Joseph Olasunkami Tegbe broke the news  during the Digital Asset Markets Strategy Masterclass Series’  in Lagos.

    He added that the both countries would soon sign a pact on ‘Digital RMB’ to enable a direct conversion of Naira to Chinese Yuan, thereby reducing the country’s dependency on the Dollar.

    “This is in furtherance to the transition of Nigeria’s relationship with China from a trade relationship to a mutually-beneficial development partnership,” he said.

    He emphasized the objectives of the Nigerian-China Strategic Partnership to drive infrastructure development, scale up investments from China, strengthen Nigerian-China trade and economic relations.

    He added that the partnership aims to also promote knowledge and economic transparency, and also advance cultural exchanges between the two nations.

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    Lagos State Governor Babajide Sanwo-Olu, said that the state was set to monetise idle assets and raise a green bond to fund infrastructural development within the state which will make them the first sub-national to do so.

    Represented by the Commissioner of Finance, Abayomi Oluyomi, Sanwoolu added that Lagos state is developing a securitisation policy to monetise and liquefy its idle assets to finance the state’s infrastructure needs.

    Earlier in his address, the Masterclass Convener, Dr Nicholas Okoye noted that the digital transformation driving the fourth industrial revolution has touched every industry and is projected to create monumental fortunes for wealth-conscious investors, institutions, Nations, and sub-nationals.

    “The most strategic ecosystem of this digital transformation has got to be ‘Digital Asset Markets, which includes investment in cryptocurrencies as well as the tokenisation (digitisation) of traditional asset classes.

    “The proposed full adoption of ‘Digital Asset Markets’ in Nigeria’s capital markets and subsequently across Africa is going to be a game changer for wealth creation and economic growth sustainability. In addition, it will completely redefine the future of African finance, investment and capital market industries,” he said.

  • Nigeria in age of economic reset

    Nigeria in age of economic reset

    The bounty winds have changed course. Across oceans and continents, the pillars of the old world buckle under the weight of new contradictions. Power is roaringly shifting, as nations once constrained by historic fetters jostle for inadequate pickings. Does Nigeria stand a chance in the unfolding world order?

    What are the chances of transforming hardship into strength, turning away from borrowed dreams and building something enduring from within?

    America is retreating. The model it exported to the world, consumer-driven, debt-fueled, and centred on speculative finance, is beginning to buckle. Trade wars, like those launched by Donald Trump, have severed the threads of global integration. The US-China trade split, and the anti-Russia sanctions fallout from the Ukraine war have also accelerated decoupling from Western financial systems and birthed new alliances like BRICS, which increasingly conduct trade outside the US dollar while consolidating independent technological and payment infrastructures.

    As supply chains rupture and flighty capital looks elsewhere, the Global South is becoming the new arena of relevance. This disruption is no accident, as Shahid Bolsen rightly observes, but the deliberate reordering of economic power, and it opens a door for countries bold enough to walk through. Will Nigeria walk through? Or would she maintain the knee, slurping unearned aid and benefits doled to her, piecemeal, by Western looters plundering her fertile fields?

    Yet entry into the new era will not be granted by default. It must be earned through clear thinking, determined leadership, and a cultural renaissance that prioritises indigeneity over imitation.

    The dominance of the Western economy is being challenged from every side. The pandemic, war, and shifting geopolitical alliances have revealed how fragile and unequal the global system has become. With the West turning inward, capital is moving outward. Nations that once waited in the wings are being called to the main stage.

    The rise of BRICS+, the slow decline of the dollar, and growing investments in African tech and infrastructure are signs of this shift. Nigeria has the population, the natural resources, and the strategic location to become a central player in this emerging world order. But opportunity does not guarantee success. It only favours those who are prepared.

    Thus, Nigeria must filter opportunity through bristling hardship. There is no gainsaying that the country’s struggles are real. Inflation is biting, the naira is volatile, and public infrastructure remains inadequate. But these challenges are also signals, telling us what we must fix, where we must innovate, and how we must grow.

    The countries that will lead in the next phase of global development are not those without problems. They are those who respond to their problems with clarity and courage. The persistent fear of fuel scarcity should push us to invest in alternative energy. Panic over food insecurity should drive us to reform agriculture through technology. And the recurrent talent drain should compel us to build institutions that reward merit and retain excellence.

    Every difficulty is a pointer. If we are willing to respond with discipline and focus, Nigeria can become a place where local solutions meet global demand. To rise upward, we must look inward. The time is ripe for cultural rebirth. No country can build a lasting future while borrowing its sense of self from others. For too long, Nigeria has copied the cultural, political, and economic ideas of other nations, even as they persistently fail to fit our peculiar context and serve our interests. The result is a mismatch between who we are and how we live.

    We need a reset, not just of our economy but of our mindset. We must embrace our nativity, nourishing its roots from the abstract to the concrete: our languages, philosophies, and prisms of seeing and engaging with the world must be deployed more consciously to serve our short- and long-term interests.

    This is an opportunity for us to step forward with something different. Something grounded in community, dignity, and shared responsibility. Nigerian culture is rich, layered, and capable of speaking to the modern age. We do not need to abandon our traditions to be relevant. We should rather adapt and use them to shape our institutions.

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    But the efforts to shape our public institutions must be built on a sturdy foundation of personal sovereignty. This is the only path to national glory. Real transformation does not begin in government offices. It begins in the private decisions of millions of citizens. The way we conduct business, teach our children, treat our neighbours. A country is only as strong as the character of its citizens. This is not a call to individualism. It is a call to citizenship; to see our personal choices as part of a wider story. To understand that nation-building is not a spectator sport.

    To create a functional Nigerian State, we must first sanitise our dreams and rid them of a hankering for ill-bliss. We must also reimagine how our institutions work. Our political and economic systems are not inevitable. They can be re-engineered and rebuilt. We need policies that prioritise productive enterprise, not rent-seeking. We need infrastructure that supports mobility, agriculture, trade, and communication. We need schools that exceed the routine of visionless exams and systems managers, to produce solutions and furnish our growth needs.

    Our foreign policy must become strategic. We should deepen our partnerships with countries in Asia, Latin America, and the rest of Africa, not from a position of desperation but from one of mutual respect. Nigeria must assert its stature as a country with value to offer.

    Our military and intelligence institutions should also be part of our economic future. Investment in defence can spur innovation in technology, logistics, and manufacturing. Let us learn from others, but not depend on them. Let us train our minds to solve our problems. We must modernise governance through digital systems, accountability mechanisms, and public service reform. The goal is not to chase some foreign ideal of development. The goal is to build a system that works for us.

    This is not just Nigeria’s moment. It is Africa’s. And Nigeria, by its size and potential, must lead. But leadership will not come from rhetoric. It will come from results. We must invest in regional infrastructure, trade agreements, and shared development goals. Nigeria’s cities must become hubs of innovation that connect easily with other African capitals. Our people must see themselves as part of a larger African identity that is confident and future-facing.

    More importantly, President Bola Tinubu’s youth empowerment drive must not be restricted to beneficiaries within the All Progressives Congress (APC), nor should it be deployed as a bargaining chip or currency to woo fiery critics and antagonists of his administration. Policies and appointments must never be used to buy opposition silence and allegiance.

    If we can achieve all these, we can be a foundational country. One that sets the pace and raises the bar. This is not a time to complain. It is a time to build. The economic reset now unfolding is not a threat. It is a signal. A chance to imagine something better and take the steps needed to get there.

    We must stop looking outside for answers and start building from within. We do not need permission to begin. We need focus, courage and perseverance.

    Shall this be the moment we remember as our turning point?

  • Nigeria’s Entertainment Industry: A Rising Powerhouse for Job Creation and Cultural Export

    Nigeria’s Entertainment Industry: A Rising Powerhouse for Job Creation and Cultural Export

    A quick look at Nigeria’s entertainment industry and you can see that it is undergoing a renaissance. It is quickly becoming one of the most dynamic sectors in its entire economy. From Nollywood’s cinematic boom to the global rise of Afrobeats, it can be seen that the country is making huge cultural waves around the world. What’s more important about all of this is that the vibrant industry has huge potential for job creations and this could help to cement Nigeria’s position as a global cultural powerhouse.

    A Thriving Ecosystem

    Nigeria’s entertainment sector is made up of film, music, comedy, fashion, gaming, and digital content creation. When you look at Nollywood alone, this is the second-largest film industry in the world in terms of volume and it currently produces thousands of movies each and every year. Then there is the Nigerian music industry. This has captured international attention with artists such as Burna Boy, Wizkid, and Tems all winning Grammy Awards and collaborating with global stars.

    When looking at just how much the entertainment industry is worth, it contributes more than $7 billion to Nigeria’s GDP annually. This is a number that is set to grow even further as more investment is flowing in and as the digital economy continues to expand. Thanks to a youthful population and growing internet penetration, the country is in a great position to harness its creative talent for both domestic consumption and global export.

    Job Creation Through Creativity

    It’s clear that the entertainment industry is labour-intensive. It offers a huge range of job opportunities across a wide range of skill sets. There are the likes of scriptwriters, cinematographers, costume designers, and event managers to consider, and every project has the potential to create dozens, if not hundreds, of job opportunities.

    When looking at the music industry, there are roles such as producers, sound engineers, talent managers, marketers, and social media strategists. With the demand for high-quality content increasing, so is the need for skilled labour. Also, the rise of streaming platforms and social media has now democratised access to audiences and this means that independent creators are able to monetise their work and build successful careers.

    The entertainment industry also has a ripple effect which goes on and benefits other industries. Hospitality, tourism, advertising, and telecommunications all benefit from entertainment-led growth. The likes of concerts, film festivals, and fashion shows all attract local and international audiences and this drives spending which then benefits secondary job markets.

    Tech Integration and Digital Expansion

    The integration of technology into entertainment has also expanded the sector’s ability to create jobs. With the likes of mobile apps, video-on-demand services, and digital distribution all on the rise there is a real need for tech-savvy professionals. This means that there is increasing demand for developers, graphics designers, animators, and UX experts.

    This is where niche areas such as online gaming come into play. The rise in digital gaming platforms, such as online casinos, brings a host of opportunities for cross-industry collaboration. As an example, companies that offer online blackjack software are tapping into Nigeria’s increasing appetite for online entertainment. By integrating culturally relevant content and localising gaming experiences, they are contributing to job creation in both the tech and the creative sectors.

    The Role of Strategic Partnerships

    Strategic partnerships between local and international stakeholders are a must for scaling Nigeria’s entertainment potential. There are global streaming platforms, such as Netflix and Amazon Prime, that have already invested heavily in Nigerian content, creating original series and licensing local productions.

    In a similar way, tech and software companies are now forming alliances with Nigerian startups and creative agencies. Examples can be seen by looking at platforms such as Live88 which is a leading live casino games provider. It recognises Nigeria as a growing market for real-time gaming experiences and, by collaborating with local developers, there is fostering of technical skills that will help to generate more employment opportunities.

    These partnerships are about more than just financial investment. They also allow for knowledge to be shared, skills to be developed, and for global exposure. Through the use of training programs and mentoships local talent is given the opportunity to compete on the world wide stage.

    Nigeria as a Cultural Export Hub

    There is a global fascination with Nigerian culture and this is much more than a passing trend. From fashion runways in Paris to music charts in LA, it’s clear to see that Nigerian creativity is in high demand.

    Music, in particular, has become a major export commodity. Platforms such as Spotify, Apple Music, and YouTube have all made it easier for Nigerian artists to breakthrough and to reach international audiences. The Afrobeat genre is now a staple on playlists around the world.

    Nollywood too is gaining traction now. We are seeing more and more Nigerian films being screened at international festivals and streaming platforms are allowing for global distribution. This increase in visibility means that there is a boost to tourism, an increase in foreign investment, and an opening of doors for co-productions.

    Fashion and art are also making a mark. There are designers such as Lisa Folawiyo and Kenneth Ize who have showcased their collections at global fashion weeks while visual artists have also exhibited in top galleries the world over.

    Challenges and Opportunities

    While there is plenty of promise, there are also challenges to be overcome. The likes of infrastructure deficits, piracy, limited access to financing, and regulatory bottlenecks can all slow growth yet these issues also present the opportunity for reform and innovation.

    Final Thoughts

    Nigeria’s entertainment is certainly a source of joy and inspiration, but it goes far beyond this. It is also a major economic engine as well as being a beacon of cultural pride. With the right mix of investment, strategic partnerships, and policy support, the sector has real opportunity to grow. There is the potential to generate millions of jobs and to place Nigeria firmly on the global cultural map.