Business
Minister Eulogises Nigerian Entrepreneurs Abroad
Minister of Foreign Affairs, Mr Geoffrey Onyeama has eulogised the dynamic ways Nigerian entrepreneurs abroad impact positively on their host countries.
The minister was speaking after meeting with Capt. Olusegun Jaji, a Nigerian owner of Sea Coach Express, a boat transport business in Sierra Leone.
“It is so heart-warming to see a Nigerian entrepreneur doing so well here in Sierra Leone and showing so much innovation in his business.
“He brought his idea to a market place and made it to grow by employing people (of different nationalities) and fostering integration between his home country Nigeria and host, Sierra Leone,” he said.
Onyeama said the business was fulfilling ECOWAS’ mechanism for integration and giving room to free movement of people, ideas and innovations.
“He is very well at home here in Sierra Leone and that is one of the aims of setting up ECOWAS.
“Above all, it shows how dynamic Nigerians can be by impacting positively on their hosts everywhere they go.”
The Minister urged Nigerians abroad to follow the lead set by the proprietor of Sea Coach Express business.
“He is a very good example. He started his business here with just one boat but now has a fleet of 42 and has made a big difference to his host country,” he said.
Onyeama recalled that many years ago, to travel from Freetown International Airport in Lungi to the seat of government, one had to go by helicopter; but now through the efforts of a Nigerian, it would now take a very comfortable ride on boat.
“We today rode in one of his boats, and it is very quick; he is adding values to the lives of Sierra Leoneans.
“This is what we want to see in Africans; to be creative, to create jobs and make lives of African a lot better.”
In a separate interview with The Tide source, Jaji said he started the transport business in 2008.
“We came here to do something else but discovered the difficulties in transporting people from Lungi to the capital in Freetown.
“We also realised that where there are difficulties, there are always opportunities, and that is how the Sea Coach Express transport business started.”
He admitted that although the business required a huge investment, his company had a very humble beginning by starting with a single boat and growing it to 42 in the fleet because there was an enabling environment and peace in the host country.
To diversify, he said he went from Sierra Leone to Nigeria to set up a subsidiary of Sea Coach Express in Lagos State.
“It’s been so good in Nigeria as well as in Sierra Leone. We have a good number of boats in Nigeria doing mass transit of people from Ikorodu to Lekki, Victoria Island, CMS and so on.
“Few Nigerians are working with us here in Sierra Leone as engineers, captains and in Nigeria we have 17 Sierra Leoneans working in our company, giving us a very successful integration between Nigeria and Sierra Leone.
One of his employees in Sierra Leone, Ramsey Ba, said: “Initially, when you mention Nigeria, we were a bit scared but having worked with Mr Jaji and other Nigerians in this company, my views about Nigeria and Nigerians changed from negative to positive.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.