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Nigeria Moves Toward T+1 Settlement As SEC Unveils Broad Market Reforms

The Securities and Exchange Commission (SEC) has announced a series of wide-ranging reforms aimed at strengthening market efficiency, deepening investor confidence, and accelerating the digital transformation of Nigeria’s capital market.

SEC Director-General, Dr. Emomotimi Agama, unveiled the initiatives during the second Capital Market Committee (CMC) meeting for 2025, where he also confirmed Nigeria’s move toward a T+1, and eventually T+0 settlement cycle.

In his address, Agama noted that the transition from T+3 to T+2 settlement for equities, implemented on November 28, marked a major milestone for the Nigerian capital market and aligned it more closely with global best practice.

He explained that shorter settlement cycles will enhance liquidity, reduce counterparty risk, and accelerate capital reinvestment.

The reform now applies across the Nigerian Exchange, NASD OTC Securities Exchange, and Lagos Commodities and Futures Exchange.

The SEC DG outlined broader market developments since the last CMC meeting in May, including the upgrade of Nigeria’s sovereign credit rating and the country’s removal from the FATF grey list. He said these achievements have boosted investor confidence and improved prospects for capital inflows. Inflation has also moderated, with the headline rate easing to 16.05 per cent year-on-year in October, the lowest level since March 2025.

Agama reported strong capital-raising activities between April and October, with significant transactions approved across debt, equity, and commercial paper markets.

Notable programmes include the N500bn Climate Funding SPV and the N200bn Elektron Finance bond, reflecting growing investor interest in infrastructure and sustainable finance.

The commercial paper market remained active, with over N753bn issued across sectors such as manufacturing, energy, and agriculture.

He said these figures demonstrate sustained confidence in the market’s regulatory framework.

Despite these positives, the market faced headwinds in November when the Nigerian Exchange recorded its steepest monthly decline on record. Market capitalization fell by N6.54trn, while the All-Share Index dropped nearly 7 per cent. The downturn was driven by profit-taking ahead of the planned 30 per cent Capital Gains Tax, weakened sentiment in banking stocks, and broader policy and global uncertainties.

However, Agama noted that the market has since shown resilience, with modest recovery following government reassurances on fiscal and tax policy, and remains significantly positive year-to-date.

The SEC is intensifying its market development and financial inclusion efforts through education-based initiatives, including the integration of capital market studies into the national secondary school curriculum in collaboration with the Nigerian Educational Research and Development Council.

At the tertiary level, the Commission partnered with Nnamdi Azikiwe University for a conference focused on leveraging capital market opportunities for SME growth.

Regionally, the SEC continues to reinforce Nigeria’s leadership in non-interest finance.

The Commission recently engaged a Bank of Ghana delegation on regulatory frameworks for non-interest capital markets, highlighting Nigeria’s N1.4trn sovereign Sukuk issuances and the growth of Islamic mutual funds. Planning is also underway for a Municipal Bond and Sukuk Summit scheduled for the first quarter of 2026.

Agama emphasized ongoing efforts to deepen the commodities and derivatives ecosystem.

The SEC is collaborating with the Standards Organisation of Nigeria to update commodity standards, working with insurance brokers to enhance risk mitigation, and partnering with the Ministry of Solid Minerals to unlock funding for mining companies. It is also engaging the Central Bank of Nigeria to secure liquidity status for warehouse receipts while strengthening oversight of commodity exchanges through inspections and financial reviews.

The Commission is advancing new rules under the Investments and Securities Act (ISA) 2025 to support commodity exchanges, collateral managers, warehouse operators, and warehouse receipt issuers. Study tours of exchanges and clearing agencies are informing updated regulatory frameworks, while work continues on harmonizing rules to align with ISA mandates. Engagements with commodity exchanges such as Gezawa and NCX have also helped revive their operations.

In the derivatives market, the SEC is collaborating with stakeholders to deploy a real-time surveillance system to reinforce market integrity. Updated rules on central counterparties, derivatives trading, online forex, and NG Clearing operations have been submitted to the Rules Committee. A draft systemic risk management rule is also being developed to require stronger risk governance frameworks across regulated entities.

Agama highlighted the Commission’s technology-driven regulatory reforms, including automation through the Digital Transformation Portal, which now allows capital market operators to submit applications, upload documents, and track approvals online. A commercial paper issuance module has been launched, with automation of quarterly and annual returns underway. The SEC is upgrading IT infrastructure and strengthening cybersecurity to support these reforms.

He also presented findings from the Technology Adoption Survey conducted in May 2025, which revealed that while cloud computing and cybersecurity tools are gaining traction, adoption of advanced technologies such as artificial intelligence and big data remains below 10 percent. Yet more than 70 percent of firms plan to adopt AI, blockchain, and regulatory technology within three years. Challenges include high implementation costs, skill shortages, and legacy system integration.

Agama stressed that innovation must go hand-in-hand with ethical and responsible deployment. He reminded operators that safeguarding investor data, preventing market abuse, and maintaining operational resilience are essential to building trust—the foundation of any capital market.

He also announced that the SEC will implement a Harmonized Corporate Governance Reporting Template for public companies to streamline disclosures, eliminate duplication, and reduce compliance burdens. The template will unify reporting across SEC regulations, the Nigerian Code of Corporate Governance 2018, and the Business Facilitation Act 2022.

Looking ahead, the renewal of registration for capital market operators will take place from January 1 to 31, 2026, while electronic receipt and processing of registration applications will commence in the first quarter of 2026.

Agama concluded by reaffirming the SEC’s commitment to building a resilient, transparent, and innovation-driven capital market that can serve as a catalyst for sustainable economic growth. He said the Commission remains guided by the principle that “a strong capital market is not built in a day; it is shaped by vision, collaboration, and resilience.”

by Online Poster — December 8, 2025 in Capital Market

Shell Nigeria Gas Limited(SNG) Expands Operations As New Customer Connects In Ogun State

Nigeria’s premier gas distribution company, Shell Nigeria Gas Limited (SNG) is expanding its operations in Ogun State with an agreement to provide gas to SG Industrial FZE, a leading steel company in the Guandong industrial zone in the State.

The agreement adds to a growing list of clients for SNG which has developed as a dependable supplier of gas through distribution pipelines of some 150km, serving over 150 clients in Abia, Bayelsa, Ogun, and Rivers states.

The company recorded the achievements working in close collaboration with NNPC Gas Marketing Limited (NGML).

“Our commitment is clear — to build, operate, and maintain a gas distribution system that is not only reliable, but resilient, transparent, and designed to fuel growth,” Managing Director, SNG Managing Director, Ralph Gbobo said at the signing ceremony. “The agreement reflects our commitment to expanding access to cleaner and more reliable energy to support Nigeria’s growth agenda.”

Vice General Manager SG Industrial FZE, Moya Shua said: “We are thrilled to partner with SNG on this transformative journey. This collaboration marks a major step forward in securing reliable energy that will power our growth and long-term ambitions.”

SNG was incorporated in 1998 as a fully Shell-owned company. It had also increased access to its natural gas pipeline network, connecting new customers like Reliance Chemical Products Limited II, Ultimum Limited, Nigeria Distilleries Limited III and Rumbu Industries Nigeria Limited, reinforcing its commitment to boosting domestic gas utilization across Nigeria.

The milestones support the Federal Government’s Decade of Gas initiative and the broader gas development agenda.

by Online Poster — December 8, 2025 in Energy

Nigeria’s $1tr Target Hinges On Strategic Rollout Of ISA 2025 – Expert

Nigeria’s ambition of becoming a $1trn economy by 2030 can only be realised through the strategic, disciplined, and collaborative implementation of the Investments and Securities Act (ISA) 2025, a capital market expert has said.

Speaking at the 2025 yearly conference of the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos, Group Managing Director of GTI Capital, Abubakar Lawal, stated that the ISA 2025 must transition from a policy document into a practical instrument for driving national economic growth.

He was represented at the event by the Managing Director of GTI Capital, Mr. Kehinde Hassan.

Lawal stressed that clarity, consistency and synergy among regulators, operators and market stakeholders are vital if the Act is to serve as the bedrock of Nigeria’s trillion-dollar ambition.

According to him, the country has reached a critical phase where fragmented efforts and isolated initiatives can no longer be accommodated.

He noted that the implementation of ISA 2025 must be aligned with the Revised Capital Market Master Plan to prevent policy dissonance and institutional overlap.

“What Nigeria requires now is a unified roadmap, one that integrates ISA 2025 into the broader architecture of the nation’s economic vision,” he said.

Lawal maintained that with disciplined execution, cross-institutional cooperation, sustained public education, and responsible innovation, Nigeria could not only meet but surpass its $1trn economic target while achieving long-term socio-economic benefits.

He added that coordinated action would position the country as a continental and global model for innovation-driven and inclusive growth.

Describing ISA 2025 as a transformational reform, he said the legislation offers more than regulatory rules, providing structure, tools, and opportunities for national development. However, he cautioned that even the best-crafted laws remain ineffective without intentional follow-through.

He urged regulators to apply fairness and foresight, while operators embrace innovation anchored on responsibility.

Lawal also underscored the need for widespread investor education to unlock the Act’s transformative potential. Awareness efforts, he said, must reach all regions to ensure that investors understand their rights, entrepreneurs recognise new opportunities, and the general public is aware of protections embedded in the new regulatory regime.

Highlighting key reforms within ISA 2025, he noted the recognition of digital and virtual assets, classification of investment contracts as securities, expansion of eligible issuers, establishment of specialised exchanges, broadening of non-interest instruments including sukuk, strengthening of commodities exchanges, and enhancement of the Securities and Exchange Commission’s regulatory powers.

He said these reforms collectively support the $1 trillion economic agenda and significantly enhance youth inclusion, especially through digital asset recognition.

With over 60 percent of the population comprising young people, Lawal described Nigerian youths as digital natives whose creativity and technological fluency can drive the next phase of economic growth.

ISA 2025, he said, gives this demographic legitimacy and meaningful engagement within the financial system.

He concluded that if Nigeria executes the reform era with unity and determination, the nation would not only reinvent its economy but inspire the African continent, demonstrating what is possible when national ambition is matched with decisive action.

by Online Poster — December 8, 2025 in News

SEC, NGX Group Harp On ISA 2025 To Drive Economic Growth, Boost Capital Formation

The Securities and Exchange Commission (SEC) and Nigerian Exchange Group, yesterday expressed that the newly signed Investments and Securities Act (ISA) 2025 signed into law by President Bola Tinubu is expected to drive the nation’s economic growth and further enhance capital formation in the capital market.

Both capital market regulating bodies stated this in Lagos during the Capital Market Correspondents Association of Nigeria (CAMCAN) workshop 2025 held in Lagos with theme : “Regulatory Reforms: ISA 2025 and Nigeria’s Investment Climate”

Giving his keynote address, the Director-General, SEC, Mr. Emomotimi Agama, stated that the ISA 2025 is not only a replacement for the 2007 Act as it represents a comprehensive reform agenda designed to modernise regulatory environment, strengthen governance, attract investment, and reposition Nigeria’s capital market to meet the demands of a dynamic global economy.

Agama, who was represented by Lagos Head of the Commission, John Briggs noted that CAMCAN workshop theme suggests regulatory reforms play a defining role in shaping the nation’s investment climate, and ISA 2025 is central to that transformation.

According to him, operating under the ISA 2025 is aimed to align with International Organization of Securities Commissions (IOSCO) standards with the imperative to strengthen Nigeria’s investment climate by building a deeper, more resilient capital market.

“One of the most transformative aspects of the ISA 2025 is the clarity it brings to the mandate of the Securities and Exchange Commission.

“For the first time, the Act explicitly sets out the regulatory objectives, functions, and powers of the Commission including acting in the public interest, protecting investors, maintaining fair and transparent markets, preventing unlawful practices, reducing systemic risks, and supporting capital formation,” he said.

He noted that the major conceptual shift introduced by ISA 2025 is the transition from regulating only “Capital Market Operators” to supervising a wider class of “regulated entities.”

Part of which include: digital asset and virtual asset exchanges, warehouse operators and warehouse receipt systems, derivatives and commodities platforms and market infrastructure operators.

He maintained that for the first time, the SEC is empowered to: identify market-wide vulnerabilities; collaborate with other regulators during periods of financial stress; take pre-emptive action to prevent contagion; and ensure the stability of systemically important institutions.

For investors, he explained that the ISA 2025 signals a more resilient and predictable market environment, one that is better able to withstand shocks.

According to him, the ISA 2025 addresses Ponzi schemes more decisively by giving the SEC power to seal prohibited schemes and impose criminal sanctions.

“These reforms protect retail investors, deepen the fund-management industry, and encourage genuine collective investment vehicles that can mobilise long-term capital.

“This is a strong boost to investor confidence and contributes meaningfully to improving Nigeria’s investment climate,” Agama added.

He, however, called on collective responsibility of stakeolders to bring the framework to life

through collaboration, capacity building, and faithful implementation.

“The ISA 2025 will become the cornerstone of the capital market Nigeria needs and deserves, and a catalyst for a stronger and more competitive investment climate,” he added.

While giving his speech, the Chairman, Nigerian Exchange Group, Alhaji Umaru Kwairanga, stated that the recent reforms encapsulated in the IS) 2025, has entered a pivotal phase in strengthening market governance, boosting investor protection, and enhancing overall market competitiveness.

He noted that, “These reforms are not merely regulatory updates; they are foundational shifts designed to modernize our capital market architecture, attract deeper pools of capital, and position Nigeria as a top-tier investment destination within Africa and globally.

“As we navigate the complexities and opportunities presented by these reforms, your role as market media stakeholders becomes even more critical.”

He called on participants at the conference to maximize opportunities offered by ISA 2025 as regulators, operators, investors, and the media work in alignment.

He commend CAMCAN for its unwavering commitment to enriching capital market literacy and

facilitating meaningful engagement among stakeholders.

“I am confident that the insights shared today will contribute significantly to strengthening Nigeria’s capital market and supporting sustainable economic growth,”Kwairanga added.

by Online Poster — December 8, 2025 in Capital Market

FG, SEC, NGX Group Forge Unified Direction On Capital Gains Tax Reform

The Federal Government has inaugurated the National Tax Policy Implementation Committee (NTPIC), marking a deliberate shift toward a more predictable and market-aligned rollout of the newly enacted capital-gains-tax (CGT) provisions. The move follows extensive technical engagements with key capital-market institutions, including the Securities and Exchange Commission (SEC) and Nigerian Exchange Group (NGX Group), reflecting policymakers’ recognition of the market’s role in sustaining liquidity, price discovery and long-term capital formation.

Chaired by leading tax and fiscal-policy expert Joseph Tegbe, the committee has been tasked with steering the implementation process toward clarity, investor protection and policy coherence. Its mandate includes ensuring transparent guidelines, broad stakeholder consultation and an execution framework that minimizes market disruption while reinforcing confidence among domestic and foreign investors.

Tegbe said the government would avoid policies that risk disrupting market activity or business investment. “Implementation of the new tax laws will be fair, transparent and humane. We will not roll out these policies in a way that cripples businesses or investors. Stakeholder engagement will be central to this process,” he said at the inauguration.

The shift follows sustained engagements by NGX Group and the SEC, during which market operators outlined the potential implications of a rapid CGT rollout on liquidity, investor sentiment and the market’s competitiveness at a time when Nigeria is seeking deeper pools of domestic and foreign capital.

Temi Popoola, GMD and CEO of NGX Group, commended the government’s approach, noting that the group, in collaboration with the SEC, has consistently advocated for a data driven approach that balances fiscal objectives with the need to preserve market depth. “We support the modernisation of Nigeria’s tax system, but reforms of this scale must be carefully calibrated to protect liquidity, sustain participation and maintain competitiveness,” he said. “Our engagements with government have focused on ensuring that implementation supports the capital market’s role in long-term investment and economic growth”. Popoola added that global competitiveness hinges not only on policy intent but also on the precision of execution, particularly for emerging markets seeking cross-border flows.

The government’s consultations intensified after the Honorable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, visited NGX Group, where market operators outlined the potential unintended consequences of an abrupt CGT rollout.

Analysts view the inauguration of the NTPIC as a constructive signal to investors, indicating that authorities intend to anchor fiscal reforms in evidence and consultation, rather than speed alone.

Both SEC and NGX Group have pledged continued collaboration with the committee to ensure that the eventual CGT implementation supports confidence, broadens participation and aligns with long-term capital-market development objectives.

by Online Poster — December 8, 2025 in Capital Market

Global Review Shows Progress On Universal Health Coverage, But Significant Challenges Persist — WHO & World Bank

Since 2000, most countries—across all income levels and regions—have made concurrent progress in expanding health service coverage and reducing the financial hardship associated with health costs, according to a new joint report from the World Health Organization (WHO) and the World Bank Group.

These two indicators are the foundation of Universal Health Coverage (UHC)—the global commitment that everyone, everywhere can access the care they need without financial hardship by 2030.

The UHC Global Monitoring Report 2025 shows that health service coverage, measured by the Service Coverage Index (SCI), rose from 54 to 71 points between 2000 and 2023.

Meanwhile, the share of people experiencing financial hardship due to large and impoverishing out-of-pocket (OOP) health payments declined from 34% to 26% between 2000 and 2022.

However, the report cautions that the poorest populations continue to bear the greatest burden of unaffordable health costs, with 1.6 billion people further pushed into poverty. Overall, an estimated 4.6 billion people worldwide still lack access to essential health services and 2.1 billion people experience financial hardship to access health care, including the 1.6 billion people living in poverty or pushed deeper into it due to health expenses.

“Universal health coverage is the ultimate expression of the right to health, but this report shows that for billions of people who cannot access or afford the health services they need, that right remains out of reach,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “In the context of severe cuts to international aid, now is the time for countries to invest in their health systems, to protect the health of their people and economies. WHO is supporting them to do that.”

Financial hardship in health is defined as a household spending more than 40% of its discretionary budget on OOP health expenses. Cost of medicines is a major driver of financial hardship: in three-quarters of countries with available data, medicines account for at least 55% of people’s OOP health expenses. The burden is even greater among people living in poverty who allocate a median of 60% of their OOP health expenses on medicines diverting their scarce resources from other essential needs.

While the burden of OOP health costs falls mostly on poorer people, it also affects better-off segments of the population that allocate a large share of their budgets to health expenses, particularly in middle-income countries where this group of people is growing.

Without faster progress, full-service coverage without financial hardship will remain out of reach for many: the global SCI is projected to reach only 74 out of 100 by 2030, with nearly 1 in 4 people worldwide still facing financial hardship at the end of the Sustainable Development Goals (SDG) era.

Encouraging progress in low-income countries with largest gaps

Despite positive direction, global progress rate has slowed since 2015, with only one-third of countries improving in both increasing health coverage and reducing financial hardship. All WHO regions have improved service coverage, but only half—Africa, South-East Asia, Western Pacific—also reduced financial hardship. Low-income countries achieved the fastest gains in both areas but are still facing the largest gaps.

The global increase in health service coverage has been driven largely by advances in infectious disease programmes. Coverage for noncommunicable diseases (NCDs) has shown steady improvement, while gains in reproductive, maternal, newborn, and child health have been modest.

The report notes that improved sanitation has supported service coverage gains. At the same time, inclusive economic growth, rising incomes, and stronger social protection mechanisms have driven poverty reduction, especially in low-income countries, contributing to declines in financial hardship. However, health costs have increasingly become a source of financial hardship among the poor.

Inequalities are getting starker

Despite progress, persistent gaps and inequalities are on the rise. In 2022, 3 out of 4 people among the poorest segment of the populations faced financial hardship from health costs, compared with fewer than 1 in 25 among the richest.

Women, people living in poverty, or in rural areas, or with less education, reported greater difficulty accessing essential health services. The gap between women in the richest and poorest quintiles narrowed slightly, from about 38 to 33 percentage points over the past decade. Even in high-performing regions such as Europe, vulnerable groups—including the poorest and people with disabilities—continue to report higher unmet health needs.

These findings likely underestimate the true extent of health inequalities, as the most vulnerable groups—such as displaced populations and people living in informal settlements—are often missing in data sources used to monitor progress toward UHC.

Actions leading to 2030

Achieving the UHC goal by 2030 is central to realizing the human right to health. With five years remaining on the SDG agenda, urgent action is now needed to drive progress. The report underscores the critical role of political commitment in every country and community, and calls for action in six core areas:

Ensure essential health care is free at the point of care for people living in poverty and vulnerable situations;
Expand public investments in health systems;
Address high OOP spending on medicines;
Accelerate access to essential NCD services, especially as the disease burden rises;
Strengthen primary health care to promote equity and efficiency; and
Adopt multisectoral approaches, recognizing that determinants of health and UHC drivers extend beyond the health sector.
Editor’s note

This edition of the UHC Global Monitoring Report 2025 reflects the first round of UHC tracking to incorporate revised SDG indicators for health service coverage (SDG 3.8.1) and financial hardship (SDG 3.8.2), introduced in 2025.

Using the revised indicators, and reproduction of the full time series, the report has presented global and regional trends in service coverage from 2000 to 2023, based on time series data for 195 countries or territories, and global and regional trends in financial hardship from 2000 to 2022, based on primary country time series for 168 countries.

The Report is presented at the UHC High-Level Forum, jointly hosted by the Government of Japan, the World Bank Group, and the WHO, in Tokyo, Japan.

by Online Poster — December 8, 2025 in News

FIRS Chief Remain Focused, Overlooks Distraction Calls For His Sack

By Fidelia Okafor

Dr. Zacch Adedeji, Chairman, FIRS Chairman

The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, remains focused on delivering the benefits of Nigeria’s new tax reforms, particularly broad reliefs for citizens and the elimination of multiple taxation for businesses, despite recent calls for his removal.

This assurance was given by the Guardian of Truth, a civic advocacy group, in a statement issued on Saturday by its spokesperson, Mr. Clement Kolawole.

According to Kolawole, the demand by a federal lawmaker, supported by some civil society organisations, for the dismissal of the Minister of Finance and the FIRS Chairman over alleged unpaid obligations to contractors was not only “misguided” but also demonstrated a fundamental misunderstanding of FIRS’ mandate.

He explained that the revenue agency is neither responsible for processing nor paying contractors, stressing that its statutory role is limited to assessing, collecting, and accounting for tax revenue accruing to the federation.

Kolawole noted that FIRS’ consistently strong revenue performance under Adedeji should not be misconstrued as the agency keeping custody of funds.

“About 70 per cent of what is shared monthly at the Federation Account Allocation Committee (FAAC) meetings by the federal, state, and local governments comes from FIRS collections,” he said, adding that monthly FAAC allocations have continued to rise since President Bola Ahmed Tinubu assumed office in May 2023.

He highlighted that the improved revenue inflow has been widely acknowledged across the political spectrum, with even opposition figures praising the administration for restoring fiscal stability nationally and at the subnational level.

“The FIRS Chairman is not distracted by such calls,” Kolawole stressed. “He remains committed to ensuring that Nigerians and businesses fully benefit from the new tax laws taking effect in January, through transparent, fair, and efficient tax administration.”

The statement underscores ongoing national concerns about fiscal discipline, tax reform implementation, and the persistent confusion surrounding institutional mandates in Nigeria’s public finance sector.

by Online Poster — December 8, 2025 in News

Nigeria’s Industrial Future at Stake, Warns Dr. Mallinson Ukatu

By Fidelia Okafor

Chairman, Mallinson & Partners, Dr. Mallinson Afam Ukatu, has called for urgent government action to create a level playing field for Nigerian manufacturers, highlighting challenges in financing, energy, and policy implementation that hinder indigenous industrial growth and competitiveness.

Speaking at the 2025 Commerce and Industry Correspondents Association of Nigeria (CICAN) End-of-Year Programme, held on December 4 at MAN House, Ikeja, Lagos, Ukatu, delivered a compelling call for government action to protect and empower indigenous manufacturers in Nigeria.

Ukatu highlighted the critical role of manufacturing as the engine of sustainable economic recovery, emphasizing that Nigeria cannot fully unlock its industrial potential without competitive financing, stable energy, and a fair market system.

He noted that while institutions like the Bank of Industry (BOI) provide funding at moderate interest rates, procedural bottlenecks and delays in disbursement through commercial banks hinder manufacturers’ access to crucial capital.

“Meanwhile, foreign manufacturers, particularly from China and India, enjoy duty exemptions, tax waivers, free trade zone advantages, and accelerated processes that local manufacturers can only dream of,” he stated.

Ukatu warned that these imbalances create an uneven playing field, often allowing imported goods to flood local markets at prices indigenous manufacturers cannot match, while the economic value of such operations largely flows out of Nigeria.

He further raised concerns about foreign dominance in sectors traditionally reserved for Nigerians, such as construction, real estate development, and large-scale engineering contracts, leaving local experts sidelined.

Ukatu called for enforceable local-content policies prioritizing Nigerian businesses, reduced interest rates and guaranteed disbursement of manufacturing loans and elimination of multiple taxation to encourage investment and expansion.

He added that reliable, affordable energy, including leveraging Nigeria’s gas reserves for industrial production and transparent and equitable free trade zones across states.

Ukatu urged that Nigeria must provide a fair and level playing field where indigenous businesses can innovate, compete, and grow.

“We stand at a crossroads. The decisions we make today will shape the industrial destiny of our nation. Let us choose policies that empower, support, and elevate Nigerian manufacturers,” he said.

by Online Poster — December 8, 2025 in News

CICAN Chairman Urges Strategic Action to Revive Nigeria’s Manufacturing Sector

By Fidelia Okafor

National Chairman, Commerce and Industry Correspondents Association of Nigeria (CICAN), Charles Okonji, called for urgent strategic action to revive Nigeria’s manufacturing sector, citing fragile growth, infrastructure gaps, and policy inconsistencies as key barriers to industrial progress and economic diversification.

Speaking at the 2025 End-of-Year Engagement Forum of CICAN, held on December 4 at MAN’s House, Ikeja, Lagos, Okonji, highlighted the urgent need for strategic action to strengthen Nigeria’s manufacturing sector.

Okonji emphasized that while Nigeria’s economy grew by 3.98 percent year-on-year in the third quarter of 2025, largely driven by non-oil sectors such as services and agriculture, the manufacturing sector—long considered the backbone of industrial growth—remains fragile.

“Manufacturing contributed only 9.62 percent to GDP in Q1 2025, reflecting a worrying decline over the past five years.

“Many in the sector point to persistent constraints including unreliable power supply, inadequate infrastructure, poor logistics, limited access to credit, and unstable foreign exchange conditions,” Okonji said.

“These challenges have weakened manufacturers’ capacity to invest, expand, or even sustain operations, leading to diminished output, reduced job creation, and a shrinking productive base.”

Okonji outlined key priorities for the sector’s revival which includes; reliable roads, transport networks, storage facilities, and affordable energy are essential for industrial competitiveness.

“Support for local manufacturing, full implementation of local-content policies, and incentives for “Made in Nigeria” goods are critical. Affordable credit and predictable foreign-exchange conditions are needed to restore investor confidence.

Both government and private sector must prioritize industrial empowerment as a driver of jobs, wealth creation, export earnings, and economic diversification.

Addressing the media, Okonji called on journalists to leverage their platforms to hold stakeholders accountable, highlight both challenges and opportunities, and advocate for policies that will revitalize Nigeria’s manufacturing heartland.

The forum set the stage for candid discussions and actionable proposals aimed at achieving genuine industrial rebirth and shared prosperity in 2026 and beyond.

by Online Poster — December 8, 2025 in News

LG Electronics Nigeria: Driving Economic Growth and Social Impact

By Fidelia Okafor

LG Electronics Nigeria is proving that modern business can do more than sell products, it can drive economic growth, create jobs, empower communities, and champion innovation.

From energy-efficient appliances to skill-building initiatives, the company is leaving a tangible mark on Nigeria’s economy and society.

Speaking at the End-of-Year Engagement Forum of the Commerce and Industry Correspondents Association of Nigeria (CICAN), LG Electronics Nigeria showcased its vital role in the nation’s economy. Addressing a gathering of distinguished journalists, industry leaders, and invited guests, the company emphasized that its contributions go far beyond selling consumer electronics.

According to the address, LG Electronics Nigeria is not only a provider of household appliances and advanced technology but a key driver of economic development. Consumer electronics, the company noted, are no longer luxury items—they are essential tools for communication, productivity, education, healthcare, and innovation. LG’s wide range of products, including energy-efficient refrigerators, washing machines, televisions, and air conditioners, has become integral to improving quality of life for millions of Nigerians.

Economic impact extends beyond technology. LG Electronics Nigeria is a major contributor to job creation, supporting livelihoods through distribution networks, service centers, logistics channels, and retail partnerships nationwide. Furthermore, the company invests in human capital development by providing technical training and workforce development programs, equipping young Nigerians with the skills required in a technology-driven economy.

Corporate Social Responsibility (CSR) also forms a core part of LG Nigeria’s operations. The company engages in initiatives aimed at uplifting communities, rather than simple charitable acts. Over the years, LG has donated electronics and appliances to schools and healthcare facilities, supported underprivileged communities, partnered with local institutions to enhance living and learning conditions, and championed educational support initiatives for young people.

Sustainability is another cornerstone of LG Nigeria’s approach. By providing energy-efficient products, the company helps households reduce energy consumption and costs, contributing both to environmental protection and economic relief. This approach underscores the company’s commitment to socially responsible and environmentally sustainable business practices.

As a global brand operating locally, LG Electronics Nigeria also promotes technology transfer, adoption of global best practices, and confidence in Nigeria’s consumer electronics market. It is an example of how modern industry can combine innovation with purpose, growth with responsibility, and business success with social impact.

The company’s message to the press corps was clear: LG is not just selling products—it is creating opportunities, empowering communities, and supporting Nigeria’s broader growth story.

In the words of LG Electronics Nigeria, “Your role in telling these stories is crucial. By shining a light on companies that go beyond profit, you help document Nigeria’s economic journey.

by Online Poster — December 8, 2025 in News