Business
Beach Operators Seek Govt’s Partnership On Tourism
Some rental operators
at the Lagos Bar Beach on Tuesday advised the state government to collaborate with the private sector to turn the beach into an international tourism site.
They said that maximum use of the beach fronts would expand the revenue base of the state and the wealth creation potential of the citizens.
According to them, collaboration with the private sector will afford investors the opportunity to build picnics huts, relaxation centres and restaurants at the beach.
Such joint ventures, they said, would moderate development at the beach and stop the current make shift arrangements.
Mr Adegboyega Bamidele, a beach operator, suggested that government should first reclaim the beaches and provide needed infrastructure for sustainable tourism businesses.
Bamidele said that although reclaiming the sea fronts could be capital intensive, the investment had the potential to pay off in the long term, especially in the area of employment generation.
”The beach is one the greatest asset from God and has the capacity of improving the economy of a nation through tourism and employment generation.
”If properly harnessed, it will foster international co-existence and business relations,” he said.
Mr Samson Ejike, another operator, called on Lagos State Government to develop its beach policy into a tourism business blue print.
Ejike said that the government had the capacity to use the blue print as benchmark for tourism businesses.
”All I want from the government now is to expand and develop this beach so that we can leverage the tourism business to international standard.
Mr Festus Eromosele, also urged Lagos State Government to constitute a panel to evaluate and determine the kind of development needed for Lagos beaches.
Eromosele said that the government would not regret investing in the sub-sector, stressing “beach investment will open up new revenue frontiers”.
”Investing in the beach will amount to increasing the revenue base of the government and creating more jobs for the teeming unemployed youths in the state,” Eromosele said.
Mr Emeka Alozie, another operator, said that government also needed to dredge the sea fronts and install wave breakers as part of the management of the shores.
”Most times sea wave splashes water and drop dirt from the sea on customers relaxing by the seaside,” he said.
Alozie, who described beach business as a mega-business, said that they were prepared to partner with government in developing the beaches.
Mr Sule Olawole, a regular patron at the beach, urged government to establish new standards for the development of beaches.
Olawole said that beach is a national symbol and “how we position the beaches goes a long way in telling the story about us as a nation”.
”Government can bring out a prototype of the kind of structure they want so that the beach will not be defaced by shanties.
Olawole urged the government to show more commitment to the development of the small scale sector of the economy to fast-track the actualisation of the Millennium Development Goals.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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