Business
SON Warns Against Substandard Imports, Use Of Logo
Amid the growing problem of importation of sub-standard products, the Director-General (DG), Standards Organisation of Nigeria (SON), Osita Aboloma, has warned importers against the use of its logo to deceive the public to sell their goods.
He gave the warning at the workshop for members of the International Market Association Electronics (IMAE) in Lagos, which had as its theme, ‘Promoting self-regulation to eradicate substandard electronics from Nigerian markets.’
Aboloma, who was represented by the SON’s Director in charge of its Lagos Office, Kabir Mohammed, decried the act, saying it is unacceptable and fraudulent, assuring that culprits would be prosecuted.
Mohammed promised that SON would continue to ensure that substandard goods were reduced to the barest minimum. He urged dealers in electronics products to align with bringing in goods as Completely Knock Downs (CKDs) and Semi-Knock Downs (SKDs) for assemblage and branding.
“You are belabouring yourselves for promoting and selling another man’s products for over four decades. It is about time you owned your brand and we have the standard to support you.
Holding this meeting with you is to bring standards to the door step of the trader and importer, because this market has customers from even outside the shores of the country.
So, when you apply standards, it will boost your trade, and impact on the nation’s economy through wealth creation and employment opportunities,” he explained, adding that the association should engage in self-regulation so as to mitigate the influx of substandard goods in the country.
Aboloma said the level of compliance to standards by importers had improved significantly, and reiterated that the body would intensify efforts at increasing its level of engagement with the public on the negative impact of substandard goods in the country.
Similarly, the Director, Inspectorate, Compliance and Directorate, SON, Obiora Manafa, advised the dealers to register their brands with SON, saying that as far as their products were successful at the safety parameters and market requirements, their goods would be patronised.
“We are also telling them that it is good for them to create their own brands instead of faking successful brands,” he said. He said from available records, SON has observed that most of importers and traders bring in substandard products which has failed to meet the prescribed standards.
The Head, Ports and Borders, SON, Yahya Bukar, explained that in spite of the organisation’s connection to the Nigerian Integrated Customs Information System (NICIS), SON could only view documents on the platform, but could not examine containers easily except invited by the customs.
“We sometimes view a document, but the information of the document is different from what we have in the container, most of the times it is difficult to judge whether these goods meet our requirements since we do not have access to these containers and we cannot be able to verify the declaration,” he said, adding that some clearing agents try to connive with the importers to circumvent the laws.
He stated that the SON was prepared for the African Continental Free Trade Agreement (AfCFTA), but stressed the need for the SON to be positioned at the ports for Nigeria to be competitive when the trade deal commenced.
Business
Nigeria Loses N17tr Yearly To Abandoned Projects
The Minister of State for Industry, Trade and Investment, John Enoh said this at the 8th annual induction and conference of the Chartered Institute of Project Managers of Nigeria (CIPMN).
He explained that abandoned projects continue to lock up public funds that could have been used for infrastructure development, industrial growth, job creation and essential social services.
Represented by the ministry’s Permanent Secretary, Chris Osa Isokpunwu, he said the impact goes beyond financial losses, as incomplete projects affect communities and limit access to important public services
He cited examples of that remain unopened, schools that cannot accommodate students, roads that fail to connect communities and electricity projects that have not delivered their intended benefits.
The Registrar-General and Chief Executive Officer of CIPMN, Henry Ifeanyi Mbadiwe, also identified poor project management as a major challenge affecting development in Nigeria.
He revealed that the institute had developed a project management curriculum for Nigerian universities, which has received approval from the National Universities Commission (NUC). The programme is expected to enable universities to offer project management as a bachelor’s degree.
Mbadiwe further referenced findings by the Presidential Projects Assessment Committee, which identified 11,886 ongoing federal capital projects in 2011, with an estimated financial commitment of ?7.78 trillion.
He noted that inadequate planning, supervision, accountability and implementation were among the factors contributing to the abandonment of projects across the country.
The minister called for stronger project management structures across ministries, departments and agencies to improve planning, monitoring and evaluation.
He added that the Federal Ministry of Industry, Trade and Investment had introduced a 90-day implementation reporting cycle to strengthen transparency and monitor the progress of government programmes.
Business
Transcorp Power seeks sustained investment across Nigeria’s electricity value chain
Ikenga said the company remained committed to Nigeria’s power sector and would continue investing in its operations despite the challenging business environment.
He spoke in Lagos at the third edition of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact”.
The Transcorp Power chief said the company would sustain electricity generation, invest in its facilities and deliver value to shareholders.
“Transcorp Power is a long-term player, not a short-term player. This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress,” he said.
Ikenga said the company’s focus on operational efficiency and investment had strengthened its contribution to Nigeria’s electricity supply.
He disclosed that since acquiring the Ughelli Power Plant in Delta State in 2013, Transcorp Power had quadrupled its available generation capacity.
He also said the company became the first privatised power generation firm to receive a post-privatisation discharge certificate after fulfilling all its privatisation obligations.
The company’s unaudited results for the nine months ended September 30, 2026, showed a profit before tax of N83.1 billion, while its profit-before-tax margin rose to 31.2 per cent from 29.6 per cent recorded in the corresponding period of 2025.
Its total assets rose to 11.7 per cent amounting to N629.5 billion, while shareholders’ funds grew 8.9 per cent to N199.8 billion. Cash and cash equivalents also rose to N10.3 billion, supported by improved collections.
On the company’s contribution to grid stability, Ikenga said Transcorp Power’s black-start capability enabled it to restart operations without relying on electricity from the national grid.
He explained that the capability allowed the company to support power restoration following grid disturbances, helping to restore electricity supply to homes, businesses and industries.
Ikenga noted that Nigeria had an installed electricity generation capacity of about 13,000 megawatts, with an estimated potential of 50 gigawatts, adding that realising the potential would require effective coordination across the entire value chain.
“Everything in the value chain has to work,” he said.
He called for stronger collaboration among federal and state governments, regulators and private-sector operators, alongside increased private investment, to build a sustainable electricity market.
Business
FG generates N33tn revenue in 10 months – Oyedele
This was contained in a statement issued on Thursday by his Senior Special Assistant on Communications and Press Secretary, Maryann Duke.
The statement said Oyedele pointed to “improved digital systems, including electronic invoicing, as a key driver behind a record of N33tn in government revenue collected between January and October 2026.”
The minister said the performance demonstrated the potential of technology to improve revenue administration, strengthen compliance and increase efficiency across government institutions.
Speaking on the theme, ‘Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation,’ Oyedele warned that Nigeria risked losing substantial economic opportunities if it continued to depend heavily on foreign digital infrastructure.
Citing Nigerian Communications Commission figures, he disclosed that the country recorded more than 157 million active internet subscriptions as of May 2026.
He explained that these connections generated significant volumes of information through financial transactions, healthcare, education and taxation.
However, citing estimates from the Nigeria Data Protection Commission, Oyedele said as much as 90 per cent of the country’s data was hosted abroad.
According to him, the situation has implications for foreign exchange expenditure, employment opportunities, technological skills and Nigeria’s control over information generated by its citizens.
He compared the country’s reliance on foreign digital infrastructure with its historical dependence on imported refined petroleum products, warning against a situation where Nigerian data would be processed abroad and the resulting services sold back to domestic users.
The minister consequently advocated greater investment in local data infrastructure, technical expertise, cybersecurity and predictable regulations to enable Nigerian businesses to capture more value from the digital economy.
He clarified that digital sovereignty should not translate into technological isolation but should strengthen Nigeria’s capacity to participate competitively in international markets.
Addressing graduating students, Oyedele urged young Nigerians to become developers of technological solutions rather than remain primarily consumers of products created elsewhere.
He identified artificial intelligence as both a disruptive force and an opportunity for innovation, advising graduates to acquire relevant digital skills alongside critical thinking, creativity, sound judgement and integrity.
The minister also cautioned against irresponsible online behaviour, explaining that digital footprints increasingly influence employment prospects, commercial relationships and professional credibility.
Oyedele outlined five priorities for graduates, including continuous learning, value creation, integrity, responsible digital citizenship and active participation in national development.
“Your degree is evidence of what you have learned. Your competence will demonstrate what you can do. Your character will reveal who you truly are,” he told the graduating students.
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