News
Nigeria Needs Industrial Revolution -AfDB
The African Development Bank (AfDB) has called on President Bola Tinubu’s administration to set the right pathway to prosperity for Nigeria.
The AfDB President, Dr Akinwumi Adesina, said this while delivering a keynote at the Business Day Chief Executive Officers (CEO) Forum in Lagos.
The keynote address was titled “The Day the Lion Roared! Making Nigeria a Global Industrial and Economic Giant”.
Adesina likened Nigeria’s case to that of Simba in The Lion King who after several challenges returned from exile to rule over his people as King after the death of his father.
“Nigeria, like the cub Simba, has great promise. But the promise is yet to be realised.
“The day that Nigeria wakes up and becomes a lion king, everything will change for its people; and everything will change for all of Africa.
“Nigeria should never be a poor country, and Nigerians are tired of being poor.
“For now, Nigeria is developing too slowly and well below its potential. The challenge is for the lion to roar. Then we will have the making of an economic giant.
“The key for that is for Nigeria to have an Industrial Revolution,” he said.
Adesina said the share of manufacturing in the GDP of Nigeria had hovered around seven per cent in the past decades.
According to him, the nation has not been able to extricate itself from the comatose of its industrial manufacturing sector to unleash the fullness of its potential.
“The performance of the manufacturing sector in the past five years has been poor. Between 2015-2017, the sector declined by -1.5per cent, -4.3per cent and -0.2per cent.
“This is in sharp contrast to the dynamic and rapid performance of manufacturing in Asian countries, such as Singapore, Malaysia, India, and China.
“The manufacturing sector of Nigeria represents only three per cent of the total revenue from exports but accounts for 50 per cent of imports in the country.
“Instead of being forward-looking in expanding the share of the manufactured goods in its total export revenue, Nigeria focuses on the model of import substitution,” Adesina said.
According to AfDB President, the country has a manufacturing sector that cannot develop to compete globally, but limits itself to “survival mode”, not a “global manufacturing growth mode”.
He said a well-developed and policy-enabled manufacturing sector, with export orientation, will spur greater innovation, industrial policy for export market development and structural transformation of the economy.
He said rather than being consumed with conserving foreign exchange, the focus should shift to expanding foreign exchange through greater export value diversification.
Comparing Nigeria’s trade performance with Malaysia and Vietnam, Adesina said while Nigeria’s export hardly changed, Malaysia and Vietnam used aggressive horizontal and vertical industrial manufacturing diversification to move from low-value products to high-value market products.
“The result is seen in the comparative wealth of the three countries.
“While export value per capita is 7,100 dollars for Malaysia and 3,600 dollars for Vietnam, it is only 160 dollars for Nigeria.
“While Malaysia and Vietnam moved to global manufacturing growth, creating massive wealth and jobs for themselves.
“Nigeria remains in a ‘survival’ mode, still unable to substitute the imports of its petroleum products while being one of the largest exporters of crude oil,” he said.
According to him, African countries, including Nigeria have had policies, templates and programs for industrialisation and expanding industrial manufacturing for decades, but there is a huge gap between policy ideas and actions.
News
Land ownership disputes are civil matters, not police cases – FCID
The Force Criminal Investigation Department, FCID, Alagbon, Lagos, has restated that disputes over land ownership are civil matters that fall under the jurisdiction of the courts and should not be handled by the police.
Speaking with newsmen on Sunday, the FCID spokesperson, Assistant Superintendent of Police, Aminat Mayegun, said the role of the police in land-related cases is limited to addressing criminal infractions that may arise from such disputes.
Her clarification follows growing complaints from property owners and residents in Lagos who have raised concerns about alleged police interference in land disputes, despite long-standing directives that ownership disagreements are civil in nature.
Some residents have accused law enforcement operatives of actions that allegedly worsened tensions, encouraged intimidation and complicated the resolution of land ownership matters, which they insist should be determined strictly through legal proceedings.
Others claim such involvement sometimes tilts in favour of powerful interests, further eroding public confidence.
Mayegun explained that issues relating to land boundaries or ownership are governed by civil law and must be settled in court, stressing that the police lack the authority to determine who owns any parcel of land.
She noted, however, that police intervention becomes necessary when criminal acts are committed in the course of a land dispute.
“The police are duty-bound to intervene and investigate only when land-related disputes give rise to criminal offences, as they have no mandate to determine ownership of land,” she said.
According to her, offences such as obtaining money by false pretence, malicious damage to property, arson, assault or any other act recognised under the Criminal Code Act fall squarely within the responsibility of the police.
She warned that individuals who resort to fraud, violence or destruction of property under the pretext of asserting land rights would be thoroughly investigated and prosecuted.
The FCID spokesperson also cautioned members of the public against taking laws into their hands, urging aggrieved parties to seek redress through established legal channels.
She assured that the Nigeria Police Force would continue to carry out its duties strictly in line with the law and called on citizens to report cases of improper land-related interference through the Police Complaints Response Unit.
News
Govs Move To Prioritise Sugar For Industrial Growth
The Nigeria Governors’ Forum has unveiled plans to prioritise sugar as a key driver of industrial development across the country.
The initiative, in partnership with the National Sugar Development Council, aims to boost local production, create jobs, and reduce Nigeria’s reliance on imported sugar.
Disclosing this yesterday in a statement, the NGF said it has agreed to include sugar projects as priority beneficiaries in engagements with both local and international development partners.
The decision follows requests by the NSDC to accelerate the development of the sugar sector, with the dual goals of achieving self-sufficiency in sugar production and creating employment opportunities for Nigerians.
Speaking at a meeting with NGF officials, NSDC Executive Secretary/CEO, Kamar Bakrin, highlighted the vast investment potential in the sugar sector and encouraged governors of states with suitable lands to embrace sugar project development.
He identified 11 states with prime sugarcane cultivation potential: Oyo, Kwara, Niger, Nasarawa, Kaduna, Kano, Bauchi, Gombe, Jigawa, Adamawa, and Taraba.
“Recent macroeconomic shifts have made domestic sugar production more commercially viable.
“While global sugar prices remain relatively stable in dollar terms, exchange rate fluctuations have made imports significantly more expensive. With locally sourced inputs, Nigeria’s sugar industry now offers robust returns,” Bakrin explained.
He added that Nigeria has approximately 1.2 million hectares of land suitable for large-scale sugarcane cultivation, far exceeding the 200,000 hectares needed to achieve national self-sufficiency.
“Sugarcane projects will empower host communities, promote inclusive development, and support environmental sustainability,” he noted.
Bakrin also cited a model sugar project producing 100,000 metric tons annually, requiring an estimated $250 million investment, with an internal rate of return of 24 per cent. Beyond sugar, the projects generate valuable by-products such as ethanol and bio-electricity, further enhancing profitability and sustainability.
The Director-General of NGF, Abdulateef Shittu, welcomed the initiative, noting that several state governments are already exploring sugar-related investments spanning land development, agricultural schemes, and agro-industrial projects.
He emphasized that effective coordination, credible investment frameworks, and alignment with federal policy objectives are critical for scaling such opportunities.
“The NGF secretariat is committed to supporting state-level development priorities that leverage sugar projects for rural development and job creation,” Shittu stated.
News
Urban Nigerians enjoy 40% faster internet than rural users — NCC
Urban residents in Nigeria enjoy faster internet than rural users, a new report by the Nigerian Communications Commission, NCC, has revealed, even as nationwide connectivity shows modest improvements.
The report, which analysed 377,135 network tests using geospatial mapping, found that urban download speeds average 20.5 megabits per second, Mbps, compared to 11 Mbps in rural areas, a gap of about 40 percent. Upload speeds were also uneven, with urban users recording 10.5 Mbps against 6.1 Mbps in rural locations.
Although rural speeds have improved from 8.5 Mbps earlier this year, the NCC said higher latency in rural areas continues to affect real-time services such as voice and video calls.
NCC said: “Urban areas account for just 5.2 percent of Nigeria’s landmass but 96.7 percent of total network activity.
“Rural communities, which cover over 93 percent of the country, experience much sparser usage and slower speeds.”
The report also highlighted that the choice of network operator can sometimes matter more than location.
It stated: “MTN’s average rural download speed of 15.8 Mbps was found to outperform Glo’s average urban speed of 9.5 Mbps, showing uneven performance across operators.
“Major highways, especially the Lagos–Abuja corridor, were identified as ‘digital corridors’ where network coverage is stronger.
“Rural towns along these routes often enjoy better connectivity than remote interior villages, reflecting how road and network infrastructure grow together.”
On technology trends, the report noted that “4G LTE remains Nigeria’s broadband backbone, delivering speeds of 10–20 Mbps in rural areas, while 5G networks, where available, offer speeds of up to 220 Mbps but are still largely confined to dense urban centres.
“Among operators, MTN delivered the most consistent nationwide performance, followed by Airtel. T2 recorded the highest median rural speed at 24.9 Mbps in select regions, while Glo maintained baseline connectivity of 9.5 Mbps across both urban and rural areas.”
The NCC said closing the persistent urban-rural gap will require targeted rural infrastructure upgrades, improved upload capacity, and stronger quality-of-service standards to support digital education, e-government and remote work.
“Improving network quality outside cities is akey to ensuring all Nigerians benefit from digital services,” the regulator added.
-
Business9 hours agoNCDMB, Jake Riley Empower 250 Youths On Vocational Skills
-
Politics8 hours agoPFN Rejects Call For INEC Chairman’s Removal Over Genocide Comments
-
Oil & Energy10 hours agoNNPCL Unveils Gas Master Plan 2026 …….Targets 10bcf/day production
-
Oil & Energy9 hours agoElectricity Boost: Abia Launches Waste-To-Energy Project
-
Sports8 hours agoEnekwechi wins Orlen Cup in season opener
-
Environment9 hours agoNigeria, UAE to waive tariffs on some products
-
Niger Delta8 hours agoPDP Declares Edo Airline’s Plan As Misplaced Priority
-
Oil & Energy9 hours agoNUPRC Pledges Transparency In 2025 Oil Pre – Bid Round
