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Nigeria @ 57: What The People Say

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Exactly 57 years ago, the colonial rule of the Great Britain in Nigeria came to an end after years of struggle by some of our past heroes.
As always, today October 1, the country marks the anniversary of the great event.
But how has the country fared in these past 57 years? What can the citizens say about Nigeria at 57? Our Deputy Editor (Features), Calista Ezeaku sought answers to these questions from some Port Harcourt residents.
Excerpt:

Barr Emeka Onyeka: It is really good we are celebrating. It is really good we’ve come this far, but it is not yet an Eldorado. I think it calls for more of sober reflection than bonfire in the sense that it is really a good time for us to do a stock keeping, checking ourselves from 1960 till date, so far, how far? What have we done? What have we achieved? Are we making progress? Are we actually on a steady decline?
So for me, it’s neither here nor there.
Sincerely,  I don’t think this is a time to merry, given the present condition of the country. What really calls for rolling out of the drum is the happy mood of the people. When a greater number of the people are hungry, what are we rolling out the drum for? By doing so you will be irritating them. You will be angering them and if you don’t take time, the anger might translate to action. I think what we need to do is for us to check ourselves, look at our people, which is the primary responsibility of the leaders and know wether the leaders have actually been fair to the citizens.
There are so many things that we have not gotten right in the past 57 years. The first one is fairness. Sincerely, people are not treated fairly.  I believe strongly that people should be treated fairly. Our resources should be distributed fairly. You know that fairness is justice. Appointment of individuals or groups to government positions should be done fairly to reflect the true federalism that we claim to have in practice. A situation where you see people in leadership acting with some sectional colouration, does not augur well for the nation.
Going forward,  for me I think it is a wonderful opportunity that we are one. I strongly believe that we should remain one. Being one is of great advantage.The greater advantage is there when everybody is treated fairly.
What I recommend is this, irrespective of where the president or  even the governor comes from, he should see every citizen of the nation or his state as one and the same and treat them as their children.  When you start treating some of the children as outsiders, naturally, you can never be fair to them. The President and the Governors should treat their subjects better than they are doing at the moment.
The strike and agitations that have been going on in the country for sometime now are anger in action. They are anger demonstrated, animosity displayed. People are not happy for one thing or the other.
You see a situation where those at the federal level are spending money as if others simply escorted them to the nation,  without having any stake in the nation called Nigeria. I mean it is annoying! Every person feels so bad. The workers are not paid adequately, and those who are elected to serve us are taking all and at the end of the day, we are all going to the same market. So how do you think the workers will feel? Naturally they will feel bad. The resources are not fairly distributed. Naturally the people, especially those from whose areas the resources are being generated, will feel bad.
So as a person, I strongly support restructuring. True federalism is what will make people sit up.

Mr Monday Johnson – Driver:
What I can say about Nigeria at 57 is that things are not moving on well in the country.  There is bad leadership.  Just look at the roads we ply here in Rivers State,  they are bad . The  East/West road is very bad. There is hardship every where.
Our hope is that with the Independence day celebration, there should be some positive changes.
We will be very happy if they can fix the roads and make life better for us.  Government should invest  in the education sector and also the health sector so that the poor people will have reasons to rejoice.

Miss Mercy Kaneh- Young School Leaver:
Nigeria today is a very difficult place to live in. Cost of living is so high, business is not flurishing. I help my elder sister with her business and I know how hard it is for her to sell her goods and even make profit. Look at me, I’m supposed to be in a higher institution but because of economic  hardship I couldn’t go. So we want a change in this country.  I want better leadership that will make things easy for the people.

Mr Franklyn Obiene –  Public Servant/ Youth Leader:
There are many good reasons why we should celebrate Nigeria at 57. Because it is Nigeria’s birthday, because we are alive, because we are a united country, we should celebrate. But the growing insecurity in the country is a big concern. People are no longer free to move around because of fear of the police, militants or political party fanatics. In other parts of the country, we have the IPOB challenge, the boko haram and other agitating groups. All these create tension in the country and make people feel unsafe.
So let government think of measures to tackle the problem of insecurity and what is making people to agitate. Let our leaders lead us well and then the people will follow.
They said, they are fighting corruption abi? Let them do it without fear or favour. Any corrupt person, no matter how highly placed, should be fished out and brought to book. Let government at various levels empower the youth.  It is said that the future of any country is in the youth but I don’t see any attention being given to these future leaders.
Every administration that comes on board will tell you they will do this and that for the youth but at the end of the day, nothing is done. The situation still remains the same. Let them empower the youth, please.

Mr Salisu Musa – Businessman:
We thank God for keeping us alive to celebrate Nigeria at 57.  For me, l like as the country is now. The fighting has reduced. The tribalism issues are coming down. In Rivers State here, our roads are better. As Federal Government dey fight corruption, l like am. Government should create job opportunities for the people.
Many companies are laying off their staff, that  is not good. Government should build industries that will employ the jobless people. They should equip public hospitals.  Before now, they use to give us free drugs at the hospitals. Today, there is nothing like that anymore.

Mrs Ngozi Amadi – Teacher:

The country has come a long way. Struggling with challenges ranging from insurgency, militancy, Ebola, corruption and others.
A country where leaders have emerged with the sole motive of enriching their pockets and saving for their generations unborn. Being the most populous country in Africa coupled with the instigations from outside and within the continent, to mention but a few.
Regardless of these numerous challenges, Nigeria has remained integrated. Nigeria is a great country, I am proud to be a Nigerian. My advice to fellow Nigerians is to come together and let’s fight all appearances of corruption at all levels and make this country an envy to the rest of the world.

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Nigeria’s ETF correction deepens as STANBICETF30, VETGRIF30 see 50% decline in a week

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Nigeria directs all oil, gas revenues to federation account in sweeping reform
Nigerian President Bola Tinubu has signed an order directing that all oil and gas revenues owed to the government be paid directly into the federation account, in sweeping reforms aimed at boosting public finances, the presidency said on Wednesday.
Under the law, the Nigerian National Petroleum Corporation keeps 30% of oil and gas profits for frontier exploration in inland basins. The presidency said those funds will now be paid into the federation account and appropriated by the government.
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NNPC also retains 30% of oil and gas sales as operational costs and receives 30% of proceeds from Production Sharing Contracts. Under the new directive, all revenues under these arrangements will flow directly to the federation account, while the company will instead receive appropriated management fees.
Royalty payments, petroleum profit taxes and other statutory revenues previously collected and retained by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will also be paid directly into the Federation Account. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) will likewise remit its revenues in full, with its cost of collection to be funded through appropriation.
Tinubu’s office said deductions enabled by the law had sharply reduced net oil inflows and contributed to fiscal strain across federal, state and local governments. The president also ordered a review of the law and established an implementation committee to enforce the changes.
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BOI Introduces Business Clinic 

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The Bank of Industry (BoI) has introduced a business clinic model designed to diagnose, treat and rehabilitate the Micro, Small and Medium Enterprises (MSMEs) to ensure long-term growth and sustainability.
The Divisional Head, Business Development, BoI, Dr Obaro Osah, made this known at the bank’s Thrive Summit with the theme: “Driving Growth through Innovation and Financial Empowerment” on Tuesday in Lagos.
Osah noted that traditional banking often treated businesses as mere account opening and management relationships.
He said the BoI business clinic model was created to reimagine the essence of a bank as a specialised teaching hospital.
According to him, just as a hospital requires a thorough diagnosis before service treatment/surgery, the bank must analyse the structural health of a small business before injecting capital.
“Financial distress is often just a symptom, the disease lies in operations and adopted philosophy, strategy, or governance,” he said.
Osah noted the many MSMEs, in spite of their potential, suffer from recurring ailments: restricted cash flow, poor operational structure, lack of proper packaging and market access, poor management among others.
He said the bank’s triage and vital signs included screening SMEs by maturity stage, pulse check to assess cash flow and liquidity and market temperature to evaluate competitive landscape.
Osah said after these evaluation, advanced diagnostics, prescriptions, surgical interventions and recovery and rehabilitation would be carried out where necessary.
“Prescription without diagnosis is malpractice and the Thrive Summit ensures we treat the root cause, not just the symptoms,” he said.
The Chief Strategy and Development Officer, BoI, Dr Isa Omagu, noted that MSMEs needed more than finance to succeed.
Omagu said they needed structure, advisory, capacity building, governance, digital readiness, access to market information and the right business infrastructure to operate and scale effectively.
He said as part of the bank’s 2025-2027 Corporate Strategy, the business clinic would expand BoI’s value proposition to broaden its products and services to better reach target segments.
Omagu said by offering structured business advisory and project development support, the clinic would enable the bank deliver deeper, more holistic value to MSMEs beyond financing.
“This vision of a structured, holistic business clinic; one that strengthens MSMEs across all core business functions and makes them more bankable, competitive, digitally enabled, and sustainable, is fully aligned with our strategic initiative to develop and roll out non-financial product offerings.
“Through this initiative, BoI commits to providing business advisory for MSMEs and project lifecycle support for enterprises, and the business clinic serves as the practical platform through which this commitment comes to life,” he said.
Omagu urged MSMEs to apply the guidance received to strengthen structure, governance, and financial management.
He added that they must adopt digital tools and improve internal processes to boost competitiveness while engaging BoI as a long-term partner in building a resilient, scalable business.
Mrs Eniola Akinsete, Divisional Head, Sustainability, BoI, said adopting Environmental, Social and Governance (ESG), principles often led to business prosperity.
Akinsete, however, noted that in spite of the benefits, adoption challenges persisted.
She affirmed BoI’s support on the adoption of ESG Practices by the MSMEs.
Earlier, the Executive Director, Corporate Finance, Sustainability and Investments, BoI, Mr Rotimi Akinde, said the summit represented a shared commitment to building a stronger, more resilient business ecosystem in Nigeria.
Akinde stated that the business clinic created a platform for practical knowledge sharing where entrepreneurs and small business owners could gain actionable insights to overcome challenges and seize opportunities.
He said discussions would focus on critical areas that drive sustainable growth, including branding and marketing, financials and activities, human rights, human resources, raising capital for equity and technology.
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Dangote signs $400 mln equipment deal with China’s XCMG to speed up refinery expansion

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Nigeria’s Dangote Group has signed a $400 million equipment deal with China’s Xuzhou Construction Machinery Group to speed up the expansion of its oil refinery toward a planned 1.4 million barrels per day, the company said on Tuesday.
The additional equipment is expected to support major projects under construction across refining, petrochemicals, agriculture and infrastructure.
Dangote said the XCMG agreement would allow it to acquire a wide range of new heavy-duty machinery to complement existing assets deployed for the refinery build?out, which the company expects to complete within three years.
As part of the expansion, polypropylene capacity will rise to 2.4 million tons per year from 900,000 tons. Urea production in Nigeria will triple to 9 million tons per year, alongside an existing 3 million-ton plant in Ethiopia, positioning the conglomerate as the world’s largest urea producer, the company said.
The output of linear alkyl benzene – a key raw material for detergents – will increase to 400,000 tons annually, making Dangote the biggest supplier in Africa. Additional base-oil capacity is also planned in the programme.
Dangote Group described the equipment deal as a strategic investment aligned with its ambition to become a $100 billion enterprise by 2030.
“The additional equipment we are acquiring under this partnership will significantly enhance execution across our projects,” it said in a statement.
Owned by Nigerian billionaire Aliko Dangote, the $20 billion refinery began operations in 2024 after years of delays. Once fully operational, it is expected to reduce Nigeria’s heavy dependence on imported refined fuel and reshape fuel supply across West and Central Africa.
Reporting by Isaac Anyaogu; Editing by Anil D’Silva
The Nigeria-Slovenia Chamber of Commerce on Thursday urged the Nigerian business community to explore business opportunities in Slovenia to widen their horizons.
The Tide source reports that the chamber made the call at its 2025 Last Quarter Business Forum held in Lagos State.
The forum is the chamber’s routine session aimed at informing businesses about the latest opportunities of mutual benefit between both countries, encouraging people to explore them to improve their livelihoods.
Speaking at the event, which was attended by businessmen and trade regulatory agencies, the Director-General of the Nigeria-Slovenia Chamber of Commerce, Mr Uche Udungwor, described the relationship between the two countries as a bilateral economy.
Udungwor said the body, established to build, promote and facilitate trade and investment activities between Nigeria and Slovenia, had positively impacted both nations.
He said the mandates of the chamber include: “To provide a forum representative of Nigeria and Slovenia’s interests for the development and improvement of commerce and industry between the two countries.
“Also, to create, promote and sustain broad exchanges and interactions in commercial, industrial and economic fields between the countries.
“To promote cooperation on technical and scientific innovations between institutions of the countries through the exchange of regular information on trade and investment opportunities.
“To advise members on opportunities, challenges, legislation or otherwise arising from the pursuit of trade between Nigeria and Slovenia, and to encourage the exchange of ideas and views on trade matters within the context of trade promotion between both countries.”
According to him, Slovenia’s major imports include organic chemicals, agro products such as cocoa beans, iron and steel/metal scraps, wood, and mineral fuels/petroleum products.
He said the trade balance between Slovenia and Nigeria is “not quite encouraging”, citing United Nations COMTRADE data indicating that Slovenia’s imports from Nigeria in 2022 amounted to $5.7 million.
Udungwor described the Republic of Slovenia, located in Central Europe with about 2.1 million inhabitants, as a promising business frontier for Nigerians.
He noted that the country features Alpine mountains, thick forests and a short Adriatic coastline.
“Slovenia, which borders Italy to the west, Austria to the north, Croatia to the south and southeast, and Hungary to the northeast, has a 2024 GDP of 72.49 billion dollars, a sound economy and a low-risk business environment.
“Slovenia has been a member of the European Union since 2004 and of the Schengen Group since 2007. It is also a member of the Organisation for Economic Co-operation and Development (OECD).
“Slovenia today is a stable, vibrant democracy that offers a stimulating business environment and represents a bridge between the Balkan, Central European and Western European countries.
“The Nigeria-Slovenia Chamber of Commerce is at your service to provide up-to-date information and advice about Slovenia’s economy, business opportunities, companies, products and services for the mutual benefit of all,” he said.
A participant, Mr Muyiwa Ajose, said his partnership with the chamber had bolstered his agro exports to Slovenia.
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