Nigeria has opened a probe into the death of Chimamanda Ngozi Adichie’s infant son, who was three months shy of two years.

The Lagos State Government, in whose jurisdiction the death occurred on January 6, 2026, states that it is investigating the incident at Euracare Hospital. The Lagos governor has offered condolences, committees have been named, and statements have been issued.

I am not impressed.

Not because a probe is wrong, but because of what it reveals. We did not need a world-renowned writer to lose a child to discover that our systems are broken. We already have the data. Nigeria ranks among the countries notorious for infant and under-five mortality. Thousands of Nigerian parents bury their dead quietly every year. They cry without hashtags. They grieve without cameras. They disappear back into daily survival without headlines, press statements, or probe panels.

Yet it took a global name, a voice the world already listens to, for the machinery of official concern to roar to life suddenly.

We saw the same choreography recently in the public handling of boxer Anthony Joshua road crash. A fatal accident took lives, yet the first national reflex was not structural interrogation but image management. Press statements arrived faster than safety audits. Branding anxieties surfaced before institutional accountability. What the moment quietly exposed was not only grief but also how fragile our emergency response systems remain. From roadside hazard management to trained trauma response, Nigerians again saw confusion where there should have been protocol. It was another reminder that in our country, tragedy too often becomes performance before it becomes reform.

That is not compassion. That is theatre.

I am not yet a biological father. But my life changed the day my brother and his wife welcomed and named their firstborn son after me. It altered my sense of responsibility, of vulnerability, of what it means to love someone whose safety you cannot fully control. I will save that story for another day. I can affirm that the love of a parent is fierce, consuming, protective, and sacred.

I have watched my mother raise three children. I now watch my sister-in-law love her two sons with a devotion that rearranges both hers and her husband’s lives daily. From this vantage, I know the love of a parent for a child is proportional to the pain they feel when that child dies. And when death is avoidable. When a duty of care was owed. When systems failed. When standards collapsed. The grief becomes heavier. The questions become louder. The wound becomes political.

It is with that burden that my heart broke when I first read about the death of Chimamanda Ngozi Adichie’s son. It shattered further when the reported circumstances suggested what every Nigerian already knows too well. That in our country, systems fail people in their most vulnerable moments. Those standards are uneven. That regulation is weak. That accountability is selective.

No parent should endure this.

But something even more dangerous is happening in Nigeria today. We are slowly being trained to accept the unacceptable. To normalise what should outrage us. To believe that justice depends on who you are, not what happened. To believe that your child’s life becomes more valuable when the world already knows your name.

That is how nations decay.

This moment is bigger than one family, even though we must honour their grief with deep reverence. It is bigger because what failed here is not unique. It fails daily in maternity wards, paediatric units, private clinics, public hospitals, and roadside emergencies across the Federation.

And yet Nigerians still rise.

Mothers still line up at clinics. Fathers still borrow money for treatment. Nurses still show up as underpaid. Doctors still work in collapsing systems. Citizens still hope.

Our victory has never been individual. It has and will always be collective.

We do not win because one family gets justice. We win when systems change. We win when standards rise. We win when every Nigerian child has the same right to life, care, and protection, whether their parents are famous or unknown.

We must not lose hope. But hope is not passive. Hope organises. Hope speaks. Hope demands better. Hope refuses to normalise pain.

When one child dies in preventable circumstances, a nation is on trial.

This is that trial.

May God comfort the Adichie family. May He strengthen their hearts. And may their loss become a turning point that forces Nigeria to finally confront what we have tolerated for far too long.

Because our children are not collateral.

They are the future.

And our victory will only come when every Nigerian child is protected, not selectively mourned.

*Mr Ukoh, an alumnus of the American University of Nigeria, Yola, and PhD student at Columbia University, writes from New York.

The post How 1 Child’s Death Has Put Nigeria On Trial appeared first on Business Today NG.

The Economic and Financial Crimes Commission (EFCC) of Nigeria, the body empowered to investigate financial crimes in Nigeria, money laundering, corruption, economic sabotage and prosecute offenders, is in a similar situation. It is being accused of committing a crime itself and its adversaries are pressing its neck. They are choking it, and like Floyd, the EFCC is crying out loud and proclaiming its innocence. Those who have their legs on this legal, rightful institution are pressing very hard. The only difference in the Floyd analogy is that the EFCC is a creation of law: the EFCC Establishment Act of 2004, and except that law is repealed or abrogated, the institution should continue to live. Nonetheless, institutions can die if they lose their relevance, value and respect in the eyes of the public. Those who are trying to kill the EFCC are trying to achieve that objective. Any institution, no matter its legal justification, is only as useful as it is accepted by the society it serves.

It is therefore understandable that the EFCC, thus finding itself in the eye of the storm, has been all over the media defending its reputation in the last few weeks. Wilson Uwujaren, the EFCC spokesperson, was on Arise News. The Chairman of the EFCC, Ola Olukoyede, Esq. was himself on Channels TV this last Sunday. This tit for tat between EFCC and its critics is not new. Long before now, informed Nigerians, notably Nuhu Ribadu and Ngozi Okonjo-Iweala, had argued that corruption always fights back. The latter in a book of the same title, in fact concluded that “fighting Corruption is Dangerous”. The current EFCC Chairman is having another round of baptism, linked directly to the reluctance of the Nigerian elite to accept that corruption deserves to be investigated and tackled.  The reason for this is both cultural and human. Most Nigerians believe that Nigeria is a huge pie, a well-made cake, that is not shared fairly and whoever gets a chance to steal a slice of that cake either at a personal, corporate or institutional level and not get caught, to redress the imbalance, or inequity in the country is a very smart person indeed. In other words, cheating, fraud, theft, greed, more or less, constitute a national ethic. Even so-called religious figures steal. It does not matter what the Holy Books say. Some of the biggest thieves in this very religious country are the clerics, be they Christian, Muslim or animist.  Civil servants are not civil in any way, public officers do not serve the public, they serve themselves, traditional institutions would rather honour persons whose source of wealth is unknown, the universities have now joined them, honour is now a commodity that can be bought.

Nigeria has always been affected by this reputation in the international sphere. By 2002, Nigeria was listed along with 23 other countries that were notorious for financial crime and money laundering. The Paris-based Financial Action Task Force on Money Laundering (FATF) blacklisted the country, making international financial transactions difficult for the country. In response to this pressure, the Obasanjo administration established the EFCC to go after corrupt persons, and the Independent Corrupt Practices Commission (ICPC) to descend on corrupt public officials. The ICPC came earlier in 2000, and there have been arguments about the overlap of functions between both bodies, and their independence from political influence exerted by the Executive, but over time, the EFCC has been the most dominant of the two bodies, and perhaps the most controversial. It handles more high-profile cases. It is far more dramatic in its efforts, and it has been accused of being a willing tool for the promotion of the preferences of the government of the day to suppress the opposition and to demonise persons who are not in the good books of the ruling party.

This is the clear context of the pressure currently on the neck of Olukoyede’s EFCC triggered by cases involving the Governor of Bauchi State, Bala Muhammed and his Commissioner for Finance and Economic Development, Dr. Yakubu Adamu, as well as the case of former Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN. Yakubu Adamu, a former Branch Manager of Polaris Bank Plc was accused of having conspired to launder a total sum of $9.7 million for the Bauchi State Government, a charge to which he has since pleaded not guilty and for which he has been denied bail and remanded in prison, along with three other defendants who are altogether accused of terrorism financing.  The Governor of Bauchi State, Bala Muhammed, the principal of the accused persons has since decried the attempt to link either his state or his person, or associates with terrorism financing alleging that as a sitting Governor, he enjoys constitutionally guaranteed immunity, and that the only reason he is being targeted is because he has refused to join the ruling All Progressives Congress, APC – Nigeria’s ruling party at the centre. He said: “The APC-led Federal Government thinks it can use the courts and institutions of government, like the EFCC, to persecute and prosecute Nigerians who are not in their party. If they don’t stop, we’re going to declare war”.  His name was mentioned in a motion in court. He has now vowed never to join the APC. He has the support of groups in Bauchi State including the Coalition of Northern Groups (CNG), Christian Youths Initiative for Peace (CYIFP), and Concerned Bauchi Citizens. These supporters have been very loud in the media, so loud that the EFCC was left with no option but to defend itself.

Similarly, the former Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, was arraigned along with his wife, Hajia Bashir Asabe and his son, Abubakar Abdulaziz Malami over alleged money laundering offences to the tune of N8. 7 billion, on a 16-count charge bordering on conspiracy, and money laundering. They pleaded not guilty. They were briefly remanded in Kuje prison, and have since been granted N500 million bail each by the court of Justice Emeka Nwite.  Hearing in the case has been adjourned till February 17. But as in the Bauchi case, the principal accused person has declared that the allegations against him and his family are “baseless, illogical and wholly devoid of substance”. He insists that he was not involved in any form of money laundering, and that the EFCC is acting on the basis of “deep-seated historical animosity, personal vendetta, bias and retaliatory persecution.” He demanded that the EFCC Chairman should step aside.  Malami was a member of the APC, and served as Attorney General of the Federation under the Buhari administration. He recently declared his interest in running for the governorship of Kebbi State on the platform of the African Democratic Congress (ADC).

The link between both cases is the claim that the main persons are being persecuted and tried in court because of their refusal to join the ruling party. Their supporters have also alleged that the Tinubu administration is using the anti-corruption agencies to play politics: to forgive those who join the APC and promote the President in the light of the obvious drift towards APC dominance across the country, and punish, persecute and trouble those who insist on opposition politics.  A wing of the Nigerian commentariat is also all over the media with the argument that cases involving APC figures, where such exist, tend to run very slowly in the courts, and they quietly peter out, whereas allegations against opposition figures tend to run very quickly judicially, with the EFCC showing much enthusiasm.

The allegations against the EFCC are weighty and it is just as well that the institution has chosen to defend itself.  Uwujaren has argued that the EFCC is completely neutral and apolitical, and that it is not the fault of the body if cases tend to drag in the courts. The EFCC, he noted, has no control over the machinery of justice.  The EFCC chairman has also responded that he has no personal animus against former AGF Malami and on the allegation that he was once indicted by the Ayo Salami panel of inquiry, he said the proof should be published by those who claim to have it.

He added: “Let me tell Nigerians that the commission’s investigation panel cleared me of any wrongdoing. The presidency at the time also cleared me. The law enforcement agencies handed me a clean bill. I can say clearly that there’s no report anywhere that I’ve been involved in any fraudulent dealings…”  He added that he in fact inherited the Malami case from his predecessor, and that in 2025 alone, he re-opened many cases that had gone cold in the file. He used the opportunity to draw attention to many high-profile cases that the EFCC under his watch has treated leading to thousands of convictions, and recovery of assets – tangible and intangible. He denied that opposition politicians are being targeted. He wants Nigerians to allow the EFCC to breathe! “I can’t breathe” said George Floyd on May 25, 2020.

It seems to me that the EFCC should indeed be allowed to breathe. While it is important to keep the Nigerian public abreast of the activities of the EFCC, in the spirit of transparency, both the agency and the public, especially the media, should desist from media trial. The pattern around here, which is absolutely wrong, is that once a person’s name is mentioned in connection with any matter involving the EFCC, the person is immediately considered guilty by interested groups who may even have no knowledge of the details of the matter. This stems from the widespread assumption that whoever goes into government to serve is not there to serve anybody but himself or herself, and that only thieves accept public appointments. There is so much distrust of the public arena among Nigerians. The principle in law however is that no man can be judged guilty until he has been convicted by a court of competent jurisdiction. Nigerians do not trust the courts. They believe that judges are not pursuing justice but their own self-interest or the dictates of hidden puppeteers. Culturally, Nigerians believe that the only man who gets caught is the one society calls a thief, otherwise every Nigerian is a thief. The rule is don’t get caught – a mindset that does not even respect the justice administration system. It is a great burden indeed to have a society that has no faith in its own processes. This is the big challenge that the current EFCC Chairman, those before him and the ones that will come after, face. In Olukoyede’s case, there is the added skepticism that the Tinubu administration that has not been aggressive about the fight against corruption, many even doubt its moral credentials, has now suddenly woken up in the lead up to the 2027 elections to launch a war against corruption. Why now?, Nigerians ask. But is there a best time to apply the law?

The current ruckus will pass.

Everything passes in Nigeria, without record, trace, or resolution. But let this be said and noted. Nobody is above the law.

It is not true that the Governor of a state in Nigeria cannot be investigated or mentioned in a motion in court because he enjoys immunity. There are a plethora of decided cases establishing that a Governor can be investigated, and illegal assets acquired by a Governor can be temporarily forfeited.  In the on-going Malami case also, a temporary forfeiture of assets is reported, obviously to preserve the res in the matter – 57 properties in all valued at N213. 2 billion. The burden has now shifted to Malami, SAN. What is in his original assets declaration form before and after office?  What was his salary or income? What is he paying as tax? These are the issues, not the media debates between EFCC and its critics. In the long run, however, there should be dedicated, special courts, designated strictly to deal with corruption cases expeditiously and to address the allegation that EFCC cases tend to stay too long in the courts. Our courts do not always meet the people’s expectations. They are part of the problem.

The post The Kneel on EFCC’s Neck, By Reuben Abati appeared first on Business Today NG.

It is the visible outcome of a long, quiet process in which institutions weakened, public trust thinned, and leadership drifted from presence to performance. Territories do not fall suddenly. They rot first.

Manduro did not disappear all of a sudden; It faded through years of neglected roads, unpaid security personnel, empty clinics, unlit streets, porous borders, and abandoned schools. It fell when the state stopped showing up consistently. When ceremonies grew louder than patrols. When branding became more important than governance.

This pattern is not new. It has names.

In Venezuela, Nicolás Maduro ruled with an iron grip while preaching democratic legitimacy. Elections were disputed. Protests were crushed. According to Reuters, his rule became defined by alleged electoral manipulation, food shortages, and rights abuses, driving millions of Venezuelans into exile. On his watch, poverty became a feature of governance. Citizenship lost meaning. Power was preserved through control rather than consent.

Maduro assumed he understood his people well enough to keep them permanently powerless. But the more anti-people his rule became, the more isolated he grew. And the more isolated he became, the more exposed he was. He failed to recognise the oldest political truth: the greatest power in any nation is the power of its people. That is the power now celebrating his fall across the world.

History records this lesson even earlier.

Rehoboam, the son of Solomon in the Bible’s Old Testament, ascended the throne and mistook harshness for strength. When the people pleaded for relief, he chose arrogance over wisdom and promised heavier burdens. The kingdom fractured. Then came the external consequence. Egypt’s King Shishak invaded and stripped Jerusalem of its treasures. Internal alienation weakened the nation. External humiliation followed.

The sequence is consistent across time. Estrange the people. Weaken the nation from within. Invite affliction from without.

Manduro reflects the same logic. Developing countries do not lose territory because their citizens suddenly change. They lose it because neglect accumulates. Because governance withdraws. Because performance replaces presence. Ungoverned spaces attract alternative authorities. Where the state is absent, someone else will step in with structure, income, fear, and identity.

Neglect is not neutral. It compounds.

Every abandoned rural road becomes a supply route. Every closed school becomes a recruitment pool. Every underfunded clinic becomes a grievance factory. Every unpaid officer becomes a risk multiplier. These are not social issues alone. They are security architecture.

This is why the price of neglect is always paid in territory. Performance politics accelerates this decay. It is the politics of announcements without implementation. Of summits without systems. Of speeches without delivery. It produces ribbon cuttings while border towns are empty. It makes headlines while patrol routes disappear. It creates visibility while vulnerability deepens.

Nigeria must read Manduro carefully.

Nigeria carries familiar warning signs. Border communities that see more criminals than customs officers. Rural areas that see more bandits than teachers. Police formations stretched thin. Clinics without supplies. Young people are searching for structure, dignity, and opportunity. These are not development gaps. They are fault lines.

Security does not begin with checkpoints. It begins with legitimacy.

Legitimacy is built through presence. Through schools that function. Clinics that serve. Roads that connect. The Police who are paid. Courts that are trusted. Borders that are managed. Leadership that shows up where cameras do not go.

When leadership alienates its people, it also weakens its shield against the outside world. Nations that lose internal legitimacy find themselves labelled, sanctioned, restricted, and treated as pariahs. Passports grow heavier. Mobility shrinks. Futures are narrow. These outcomes are not conspiracies. There are consequences.

We may condemn foreign intervention all we want. But history is blunt. If the wall has no opening, the lizard cannot enter. External intrusion is often enabled by internal failure.

Manduro is not about war. It is about presence. Presence builds trust. Trust builds cooperation. Cooperation builds intelligence. Intelligence prevents collapse. You cannot govern through fear indefinitely. And you cannot perform your way into stability.

Every developing nation lives one Manduro away from crisis.

Nigeria still has time. But time does not protect nations. Systems do.

And systems only grow where leadership chooses responsibility over performance, humility over arrogance, and the people over applause.

Manduro is the cost of performance politics. Nigeria must decide whether it wants to pay it.

Mr Ukoh, an alumnus of the American University of Nigeria, Yola, and PhD student at Columbia University, writes from New York.

The post Manduro: How Nations Lose Territories in Peacetime – Lessons For Nigeria appeared first on Business Today NG.

Accordingly, BOF provides the following clarification to correct key misconceptions, set out the governing legal framework, and reaffirm our commitment to transparency and responsible public finance management.

1. Constitutional and Legislative Basis for Appropriation, Amendment, Repeal and Re-enactment

1. Sections 80–84 of the Constitution establish a sequenced framework for public expenditure: (i) the President prepares and lays estimates before the National Assembly; (ii) the National Assembly considers and authorises expenditure through an Appropriation Act; and (iii) the Executive implements expenditure strictly within the legal authority so granted.
2. The Constitution does not prohibit the National Assembly from repealing and re-enacting an Appropriation Act where fiscal circumstances, implementation realities, or reconciliation of fiscal instruments make such legislative action necessary in the public interest.

3. Where the National Assembly passes a repeal and re-enactment bill and the President assents, the resulting Act becomes valid law. It is therefore incorrect to describe a duly enacted repeal and re-enactment as a ‘constitutional impossibility’.

2. On Budget Lifespan and Legislative Extensions

4. While Appropriation Acts are commonly framed to operate within a fiscal year, the Constitution does not impose an immutable expiry rule that forbids legislative extension for orderly completion of obligations, settlement of certified claims, and alignment of overlapping fiscal instruments.
5. Where the National Assembly, in exercise of its legislative powers, extends the operational window of an Appropriation Act, such extension is an expression of legislative authority, not an illegality.

3. On the Allegation of ‘Expenditure Without Appropriation’

6. The assertion that expenditure occurred ‘without appropriation’ conflates distinct concepts in public finance administration, including contractual obligations, cash releases, statutory transfers, debt service, and project commitments that may straddle fiscal periods.
7. The legal test is whether expenditure is supported by lawful appropriation or other constitutional/statutory charge, and whether any required legislative oversight is sought through recognised instruments (supplementary appropriation, virement where permitted, or repeal and re-enactment).

8. The repeal and re-enactment process serves, among other things, to consolidate and regularise fiscal authority through an Act of the National Assembly, thereby reinforcing—not undermining—constitutional control of public funds.

4. Fiscal Responsibility Act and Transparency Obligations

9. Section 48(1) of the Fiscal Responsibility Act requires transparency, timely disclosure, and wide publication of fiscal transactions and decisions. BOF affirms these obligations.
10. However, transparency requirements must be implemented with due regard to document integrity, legislative authentication processes, and the need to avoid circulation of conflicting drafts while harmonisation and enrolment are ongoing.

5. On Popular Participation and Legislative Procedure

11. Nigeria operates a representative constitutional democracy. Legislative consideration of appropriation, including committee work and plenary proceedings, is a constitutionally recognised method for translating public interest into law through elected representation.
12. BOF supports structured public engagement through budget literacy initiatives and appropriate stakeholder consultations, consistent with law and practical governance.

6. Commitments and Immediate Administrative Actions

Without prejudice to the constitutional validity of the repeal and re-enactment process, BOF recognises the importance of public access to fiscal documents and will continue to strengthen publication, communication, and citizen-facing budget transparency.
• BOF will maintain strict adherence to expenditure controls consistent with constitutional requirements and applicable fiscal regulations.

• BOF will work with relevant institutions to ensure that authenticated budget documents and enrolled Acts are made accessible through official channels as soon as they are finalised for publication.

• BOF will continue to support citizen-friendly budget communication products to improve public understanding of fiscal policy choices.

Conclusion

Nigeria’s public finance system rests on the rule of law, institutional responsibility, and the constitutional balance between the Executive and the Legislature. Where macroeconomic conditions and implementation realities require legislative adjustment, the proper response is lawful legislative action—not informal fiscal practice. The repeal and re-enactment process, having proceeded through the National Assembly and presidential assent, remains a constitutional and legislative instrument for budgetary oversight and alignment.
BOF remains committed to fiscal discipline, transparency, and constructive engagement with all stakeholders in the national interest.

Tanimu Yakubu, Director-General, Budget Office of the Federation, Federal Republic of Nigeria

The post Nigeria: Repeal and re-enactment of 2024 and 2025 appropriation acts and budget transparency appeared first on Business Today NG.

The push gained significant momentum at a major conference in Algiers recently, where policymakers convened to translate principle into action.

The meeting, focused on having colonial-era crimes “recognized, criminalized and addressed through reparations,” directly advances a resolution passed by the African Union (AU) earlier this year. That resolution calls for justice and reparations for victims of colonialism, building on a landmark proposal at the AU’s February summit to formally define colonization as a crime against humanity and develop a unified continental position.

Nigeria, a regional powerhouse, is taking a leading role in the burgeoning campaign. The push was foreshadowed in September when Nigerian Senator Prince Ned Nwoko sent an official claim to the British government demanding $5 trillion in reparations for the damages of colonialism. While this was a national initiative, it set a powerful precedent and figure for the broader continental discussion.

The British government has consistently rejected such claims. Officials in London have previously labeled demands for colonial reparations as “astonishingly hypocritical,” maintaining that the UK is proud of its modern partnership with African nations and refuses to engage with allegations of historical crimes in a legal or reparative framework.

However, the African initiative is gaining traction in the court of global public opinion. A recently released documentary, “From Slavery to Bond,” has renewed scrutiny on the British Empire’s legacy. The film investigates how colonial policies on resource extraction, arbitrary borders, and historical artifacts offset laid a “solid ground for modern problems and crises” across the continent, lending academic and moral weight to the reparations argument.

The Algiers conference represents a critical step in a meticulously planned framework. Analysts suggest a joint AU claim would carry far greater geopolitical and legal heft than individual national efforts, posing a significant diplomatic challenge to the UK. The next phase is expected to involve consolidating a common historical assessment, finalizing a legal strategy, and determining the structure and scope of the reparations demand.

While the path to any monetary payment remains long and fraught, the collective move marks a pivotal shift.

The post African Nations Move Towards Unified Reparations Claims Against Britain appeared first on Business Today NG.

The 2025 tax reforms, anchored by the new Nigeria Tax Act (NTA) and Nigeria Tax Administration Act (NTAA), represent one of Nigeria’s most pro-investment, pro-market, and modernising tax policy updates in decades. Far from undermining growth and competitiveness, the reforms simplify the tax landscape, align Nigeria with global best practices, reduce compliance burdens, and protect both businesses and individuals from outdated rules. More importantly, the reforms are fundamentally progressive, in line with Mr President’s promise to improve the standard of living of all Nigerians.

A careful review of the reforms shows that they make Nigeria more competitive, not less. They achieve this through significant improvements, including: consolidating multiple earmarked taxes into a streamlined Development Levy; maintaining strong incentives for Free Trade Zones; implementing the globally agreed 15% minimum tax on multinational enterprises; and modernising capital gains taxation to reflect today’s economic realities. Let us examine each in turn.

One of the most misunderstood elements of the reform is the 4% Development Levy. Some have incorrectly described it as “a new tax.” It is not. It replaces a chaotic regime of fragmented earmarked taxes, including the Tertiary Education Tax (3%), NITDA Levy (1% of PBT), NASENI Levy (0.25%), and the Police Trust Fund Levy. When aggregated, these distinct levies imposed an effective tax burden that could exceed 4% particularly for companies in the technology, telecommunications and financial sectors. Furthermore, small businesses with a turnover of 100 million and below and non-resident companies are now exempt from the Development Levy.

The consolidation of the plethora of levies into one offers investors predictability, a reduction in the cost of compliance, and a reduction in the cost of doing business. In the previous regime, the proliferation of agency-specific levies created uncertainty; investors feared that new, distinct taxes would inevitably fund new agencies. The Development Levy establishes a unified framework for funding education, defence, security, technology, and cybersecurity from a single pool, signalling to investors that the era of ad hoc earmark taxes is finally over. Investors value certainty and simplicity, and the Development Levy delivers both.

Another area that has generated anxiety is the treatment of Free Trade Zones. Critics suggest that the government watered down their incentives. Again, this is incorrect. A careful reading of Section 60 and the Second Schedule of the NTA reveals a policy designed to curb tax base erosion while sustaining incentives for genuine exporters. The NTA maintains the core tax-exempt status of Free Trade Zone entities but imposes critical conditions to ensure these zones serve their primary economic purpose: generating foreign-exchange earnings through exports.

What changed? The Nigeria Tax Act now sets a 25% threshold for domestic sales by FTZ companies. If an FTZ enterprise sells up to 25% of its output into the Nigerian market, it continues to enjoy exemptions for a three-year transition period (2026 to 2028).

Why is this necessary? FTZs are meant to attract exporters, manufacturers producing for global markets, logistics hubs, and high-value assembly plants. They are not meant to attract companies enjoying tax-free status while competing unfairly with Nigerian firms inside the domestic economy.

After 2028, the law provides that FTZ companies will be taxed on any domestic sales. Countries like the UAE, Malaysia, and Mauritius have similar structures. Nigeria is not doing anything unusual. The underlying message is clear: Nigeria’s FTZs remain competitive for exporters, manufacturing hubs, and global supply chain investors.

Another misconception in public commentary is around the new 15% minimum tax for large multinationals and large Nigerian businesses. The 15% minimum tax is the product of a landmark OECD/G20 agreement endorsed by over 140 countries, including the UK, France, Germany, the UAE, Canada, Japan, South Korea, South Africa, and Nigeria. It applies only to the world’s largest multinational groups, that is, those with a global turnover of €750 million or more.

Section 57 of the NTA, which domesticates the OECD/G20 agreement, is a defensive measure to protect Nigeria’s sovereign tax base, not an attack on capital. If Nigeria continues to offer effective tax rates below 15% to multinationals, their home countries (e.g., the UK, France, Germany, or South Africa) will collect the difference as a Top-Up Tax. By collecting this tax domestically, Nigeria retains revenue that would otherwise be ceded to foreign treasuries without increasing the global tax burden on the investor.

By extending the 15% Effective Tax Rate to large domestic companies (with a turnover of N50 billion or more), the NTA ensures horizontal equity. It prevents a scenario in which foreign multinationals are taxed at 15% (under global rules) while large domestic competitors utilise aggressive tax planning to pay significantly less. This creates a floor for tax competition, stabilising government revenue, which is essential for the infrastructure development that investors require.

The post Tax Reforms Strengthen Economic Competitiveness: What you need to know about Nigeria’s Tax Administration Act that goes into force in January 2026. appeared first on Business Today NG.

Today marks the 65th anniversary of our great nation’s Independence. As we reflect on the significance of this day and our journey of nationhood since October 1, 1960, when our founding fathers accepted the instruments of self-government from colonial rule, let us remember their sacrifice, devotion, and grand dream of a strong, prosperous, and united Nigeria that will lead Africa and be the beacon of light to the rest of the world.

2. Our founding heroes and heroines—Herbert Macaulay, Dr Nnamdi Azikiwe, Sir Abubakar Tafawa Balewa, Chief Obafemi Awolowo, Sir Ahmadu Bello, Margaret Ekpo, Anthony Enahoro, Ladoke Akintola, Michael Okpara, Aminu Kano, Funmilayo Ransome-Kuti, and other nationalists—believed it was Nigeria’s manifest destiny to lead the entire black race as the largest black nation on earth.

3. For decades, the promise of our Independence has been tested by profound social, economic, and political challenges, and we have survived.  While we may not have achieved all the lofty dreams of our forebearers, we have not strayed too far from them. In 65 years since our Independence, we have made tremendous progress in economic growth, social cohesion, and physical development. Our economy has experienced significant growth since 1960.

4. Although, it is much easier for those whose vocation is to focus solely on what ought to be, we must recognise and celebrate our significant progress. Nigerians today have access to better education and healthcare than in 1960. At Independence, Nigeria had 120 secondary schools with a student population of about 130,000. Available data indicate that, as of year 2024, there were more than 23,000 secondary schools in our country. At Independence, we had only the University of Ibadan and Yaba College of Technology as the two tertiary institutions in Nigeria. By the end of last year, there were 274 universities, 183 Polytechnics, and 236 Colleges of Education in Nigeria, comprising Federal, State, and private institutions. We have experienced a significant surge in growth across every sector of our national life since Independence – in healthcare, infrastructure, financial services, manufacturing, telecommunications, information technology, aviation and defence, among others.

5. Our country has experienced both the good and the bad times in its 65 years of nationhood, as is normal for every nation and its people. We fought a bitter and avoidable civil war, experienced military dictatorships, and lived through major political crises. In all these, we weathered every storm and overcame every challenge with courage, grit, and uncommon determination. While our system and ties that bind us are sometimes stretched by insidious forces opposed to our values and ways of life, we continue to strive to build a more perfect union where every Nigerian can find better accommodation and find purpose and fulfilment.
6. Fellow Compatriots, this is the third time I will address you on our independence anniversary since I assumed office as your President on May 29, 2023. In the last 28 months of my administration, like our founding fathers and leaders who came before me, I have committed myself irrevocably to the unfinished nation-building business.

7. Upon assuming office, our administration inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignment that had impaired real growth. As a new administration, we faced a simple choice: continue business as usual and watch our nation drift, or embark on a courageous, fundamental reform path. We chose the path of reform. We chose the path of tomorrow over the comfort of today. Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit.

8. In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that created massive incentives for a rentier economy, benefiting only a tiny minority. At the same time, the masses received little or nothing from our Commonwealth. Our administration has redirected the economy towards a more inclusive path, channelling money to fund education, healthcare, national security, agriculture, and critical economic infrastructure, such as roads, power, broadband, and social investment programmes. These initiatives will generally improve Nigerians’ quality of life. As a result of the tough decisions we made, the Federal and State governments, including Local Governments, now have more resources to take care of the people at the lower level of the ladder, to address our development challenges.

9. Fellow Nigerians, we are racing against time. We must build the roads we need, repair the ones that have become decrepit, and construct the schools our children will attend and the hospitals that will care for our people. We have to plan for the generations that will come after us. We do not have enough electricity to power our industries and homes today, or the resources to repair our deteriorating roads, build seaports, railroads, and international airports comparable to the best in the world, because we failed to make the necessary investments decades ago. Our administration is setting things right.
10. I am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour.

11. Under our leadership, our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results. The second quarter 2025 Gross Domestic Product grew by 4.23%—Nigeria’s fastest pace in four years—and outpaced the 3.4 per cent projected by the International Monetary Fund. Inflation declined to 20.12% in August 2025, the lowest level in three years. The administration is working diligently to boost agricultural production and ensure food security, reducing food costs.
12. In the last two years of our administration, we have achieved 12 remarkable economic milestones as a result of the implementation of our sound fiscal and monetary policies:

i. We have attained a record-breaking increase in non-oil revenue, achieving the 2025 target by August with over N20 trillion. In September 2025 alone, we raised N3.65 trillion, 411% higher than the amount raised in May 2023.
ii. We have restored Fiscal Health: Our debt service-to-revenue ratio has been significantly reduced from 97% to below 50%. We have paid down the infamous “Ways and Means” advances that threatened our economic stability and triggered inflation. Following the removal of the corruptpetroleum subsidy, we have freed up trillions of Naira for targeted investment in the real economy and social programmes for the most vulnerable, as well as all tiers of government.
iii. We have a stronger foreign Reserve position than three years ago. Our external reserves increased to $42.03 billion this September—the highest since 2019.

iv. Our tax-to-GDP ratio has risen to 13.5 per cent from less than 10 per cent. The ratio is expected to increase further when the new tax law takes effect in January. The tax law is not about increasing the burden on existing taxpayers but about expanding the base to build the Nigeria we deserve and providing tax relief to low-income earners.
v. We are now a Net Exporter: Nigeria has recorded a trade surplus for five consecutive quarters. We are now selling more to the world than we are buying, a fundamental shift that strengthens our currency and creates jobs at home. Nigeria’s trade surplus increased by 44.3% in Q2 2025 to ₦7.46 trillion ($4.74 billion), the largest in about three years. Goods manufactured in Nigeria and exported jumped by 173%. Non-oil exports, as a component of our export trade, now represent 48 per cent, compared to oil exports, which account for 52 per cent. This signals that we are diversifying our economy and foreign exchange sources outside oil and gas.

vi. Oil production rebounded to 1.68 million barrels per day from barely one million in May 2023. The increase occurred due to improved security, new investments, and better stakeholder management in the Niger Delta. Furthermore, the country has made notable advancements by refining PMS domestically for the first time in four decades. It has also established itself as the continent’s leading exporter of aviation fuel.
vii. The Naira has stabilised from the turbulence and volatility witnessed in 2023 and 2024. The gap between the official rate and the unofficial market has reduced substantially, following FX reforms and fresh capital and remittance inflows. The multiple exchange rates, which fostered corruption and arbitrage, are now part of history. Additionally, our currency rate against the dollar is no longer determined by fluctuations in crude oil prices.

viii. Under the social investment programme to support poor households and vulnerable Nigerians, N330 billion has been disbursed to eight million households, many of whom have received either one or two out of the three tranches of the N25,000 each.

ix. Coal mining recovered dramatically from a 22% decline in Q1 to 57.5% growth in Q2, becoming one of Nigeria’s fastest-growing sectors. The solid mineral sector is now pivotal in our economy, encouraging value-added production of minerals extracted from our soil.

x. The administration is expanding transport infrastructure across the country, covering rail, roads, airports, and seaports. Rail and water transport grew by over 40% and 27%, respectively. The 284-kilometre Kano-Kastina-Maradi Standard Gauge rail project and the Kaduna-Kano rail line are nearing completion. Work is progressing well on the legacy Lagos-Calabar Coastal Highway and Sokoto-BadagryHighway. The Federal Executive Council recently approved $3 billion to complete the Eastern Rail Project.

xi. The world is taking notice of our efforts. Sovereign credit rating agencies have upgraded their outlook for Nigeria, recognising our improved economic fundamentals. Our stock market is experiencing an unprecedented boom, rising from an all-share index of 55,000 points in May 2003 to 142,000 points as of September 26, 2025.

xii. At its last MPC meeting, the Central Bank slashed interest rates for the first time in five years, expressing confidence in our country’s macroeconomic stability.

SECURITY:

13. We are working diligently to enhance national security, ensuring our economy experiences improved growth and performance. The officers and men of our armed forces and other security agencies are working tirelessly and making significant sacrifices to keep us safe. They are winning the war against terrorism, banditry and other violent crimes. We see their victories in their blood and sweat to stamp out Boko Haram Terror in North-East, IPOB/ESN terror in South East and banditry and kidnapping. We must continue to celebrate their gallantry and salute their courage on behalf of a grateful nation. Peace has returned to hundreds of our liberated communities in North-West and North-East, and thousands of our people have returned safely to their homes.

YOUTH:

14. I have a message for our young people. You are the future and the greatest assets of this blessed country. You must continue to dream big, innovate, and conquer more territories in your various fields of science, technology, sports, and the art and creative sector. Our administration, through policies and funding, will continue to give you wings to fly sky-high.  We created NELFUND to support students with loans for their educational pursuits. Approximately 510,000 students across 36 states and the FCT have benefited from this initiative, covering 228 higher institutions. As of September 10, the total loan disbursed was N99.5 billion, while the upkeep allowance stood at N44.7 billion.

15. Credicorp, another initiative of our administration, has granted 153,000 Nigerians N30 billion affordable loans for vehicles, solar energy, home upgrades, digital devices, and more.

16. YouthCred, which I promised last June, is a reality, with tens of thousands of NYSC members now active beneficiaries of consumer credit for resettlement.

17. Under our Renewed Hope Agenda, we promised to build a Nigeria where every young person, regardless of background, has an equitable opportunity to access a better future—thus, the Investment in Digital and Creative Enterprises (iDICE) programme. The Bank of Industry is driving the programme,  in collaboration with the African Development Bank, the French Development Agency, and the Islamic Development Bank. This initiative is at the cusp of implementation. Over the last two years, we have collaborated with our partners to launch the programme, supporting our young builders and dreamers in the technology and creative sectors.

A MESSAGE OF HOPE

18. Fellow Nigerians, I have always candidly acknowledged that these reforms have come with some temporary pains. The biting effects of inflation and the rising cost of living remain a significant concern to our government. However, the alternative of allowing our country to descend into economic chaos or bankruptcy was not an option. Our macro-economic progress has proven that our sacrifices have not been in vain. Together, we are laying a new foundation cast in concrete, not on quicksand.

19. The accurate measure of our success will not be limited to economic statistics alone, but rather in the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities. Let me assure you of our administration’s determination to ensure that the resources we have saved and the stability we have built are channelled into these critical areas. Today,  the governors at the state level, and the local government autonomy are yielding more developments.

20. Therefore, on this 65th Anniversary of Our Independence, my message is hope and a call to action. The federal government will continue to do its part to fix the plumbing in our economy. Now, we must all turn on the taps of productivity, innovation, and enterprise, just like the Ministry of Interior has done with our travel passports, by quickening the processing. In this regard, I urge the sub-national entities to join us in nation-building.  Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes.

21. Finally, let all hands be on deck. Let us believe, once more, in the boundless potential of our great nation.

22. With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here.

23. Happy 65th Independence Anniversary, and may God continue to bless the Federal Republic of Nigeria.
Amen.

Bola Ahmed Tinubu, GCFR
President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria,
Presidential Villa,

Abuja.

The post Full Text Of President Bola Ahmed Tinubu National Broadcast To Mark 65th Independence Anniversary Of Nigeria, October 1, 2025. appeared first on Business Today NG.

A simple fact check by a politician who always challenges his gullible and unthinking mob to verify his statements would have revealed that he quoted the wrong examples.

Obi would have found that Lincoln, at the time he was assassinated, had finished his first term, had won re-election, and had been sworn in for a second term.

Lincoln began his first term on March 4, 1861. He won re-election on November 8, 1864, and was sworn in on March 4, 1865, before his assassination on April 15, 1865.

John F. Kennedy, who shared a similar tragic fate with Lincoln, came into office on 20 January 1960 as the 35th President of the United States. He was assassinated on November 22, 1963, before the expiration of his first term.

Nelson Mandela served as the first president of South Africa from 1994 to 1999. He declined a run for a second term on account of his age. Mandela, at the end of his first term as president, was 81 years old. He decided to retire from politics rather than contest for another five-year term. Mandela’s example might be more appropriately recommended to Obi’s rival for the opposition ticket, who will turn 81 by 2027.

The post Peter Obi and his wrong examples-By Onanuga appeared first on Business Today NG.

In Nigeria’s fiercely competitive aviation fuelling sector, where reliability and reputation are everything, Femi Balogun has emerged as a transformative leader. As founder and Managing Director of Kerojet Services Limited, Balogun has built a company that delivers not just fuel but trust, forward-thinking solutions, and genuine social impact. He has transformed Kerojet into a global player, capable of supplying aviation fuel to any corner of the world. His journey, from the quiet streets of Iragbiji in Osun State to the forefront of Nigeria’s energy sector, is a testament to resilience, vision, and a reputation built on unwavering integrity.

A Foundation Built on Discipline and Precision

Balogun’s story begins with a solid educational foundation. Femi Balogun got his first degree in business management from a Nigerian prestigious higher institute of learning, equipping himself with the hands-on expertise needed to thrive in a technical field. He launched his career in consulting, gaining broad exposure before honing critical skills at Chevron Oil, where he specialized in aviation fuelling and quality control. “That was where I learned the value of precision and doing things right the first time,” Balogun recalls. His years as a Stock Officer in Kano further instilled in him a deep discipline and an intimate understanding of the aviation fuel supply chain, skills that would become the backbone of Kerojet’s operational excellence.

Leadership That Inspires and Empowers

Balogun’s approach to leadership is refreshingly accessible. He rejects hierarchical distance, choosing instead to lead from the front lines. “You can’t build anything lasting if people are afraid of you,” he says. His management philosophy is rooted in trust, transparency, and self-discipline, principles he insists are vital for fostering a culture where every employee feels valued and empowered. “I maintain a friendly relationship with my employees to create an environment where ideas flow freely.”

He places a premium on resilience, honesty, and continuous learning. “Knowledge belongs to everyone. I work with people who challenge me and push me to grow.” When adversity strikes, Balogun remains calm and focused: “Challenges are inevitable, but I take a deep breath and confront them head-on. What keeps me going is knowing the impact we’re making not just in business, but in people’s lives.”

Kerojet Services Limited: From Humble Brokerage to Industry Leader

Founded in 2016, Kerojet Services began as a small brokerage, intent on filling crucial gaps in Nigeria’s

aviation fuelling market. Balogun recognized the sector’s need for more reliable, transparent, and efficient service, and set out to build a company that could deliver consistent quality nationwide.

Today, Kerojet operates across Nigeria’s key airports and strategic locations—including Lagos, Abuja, Kaduna, Jos, Port Harcourt, Sokoto, and Kebbi—with sub-distribution centers in Kano, Maiduguri, and Yola.

 The company’s growth has been remarkable, powered by a relentless focus on operational discipline and smart adoption of technology.

Every depot is equipped with real-time CCTV monitoring to ensure security and accountability.

Kerojet operates a barcoded invoice system that guarantees transparency and traceability in every transaction. “Once a contract is signed, fuelling begins without delay. We’re not just moving fuel, we’re moving trust,” Balogun emphasizes.

Vision 2024: A Strategic Pivot Amid Global Disruption

The global COVID-19 pandemic in 2020 brought unprecedented challenges to the aviation industry.

While many companies pulled back, Kerojet doubled down. Balogun launched Vision 2024, a bold strategy to expand Kerojet’s distribution network, invest in workforce development, and harness emerging technologies.

This strategic pivot paid off. By April 2025, Kerojet had outperformed more than a dozen competitors to rank among Nigeria’s top aviation fuel marketers. The company’s ability to adapt quickly, maintain service consistency, and build strong client partnerships has positioned it as a rising force in the industry.

Innovation and Continuous Improvement as Growth Drivers

For Balogun, innovation isn’t a buzzword—it’s core to survival. Kerojet continually upgrades infrastructure, tracks global market trends, and empowers employees to spot and solve operational challenges. “We encourage ideas from every level, treating mistakes as opportunities to learn rather than failures,” he explains. Our culture of continuous improvement is what drives Kerojet to deliver rapid, reliable service and consistently exceed client expectations. High satisfaction isn’t just a goal, it’s a key performance indicator we take seriously, says Balogun.

Marketing with Integrity and Strong Relationships

In an industry where trust can’t be faked, Kerojet’s marketing strategy is rooted in genuine relationships. Word-of-mouth referrals remain powerful, bolstered by a growing digital presence on platforms like LinkedIn and Instagram.

Keroject Services Limited believes that ongoing client feedback is non-negotiable: “We use barcoded receipts and digital surveys to monitor satisfaction and refine our services. Our most successful growth has come through strategic partnerships formed during Vision 2024, expanding our reach and service footprint nationwide.”Balogun affirmed.

Commitment to Sustainability and Social Impact.

At Kerojet, sustainability is more than a box to tick—it’s a core brand pillar. Alongside fuel supply, the company invests in solar-powered infrastructure and community development projects through its philanthropic arm, the Pillar’s Dream-Living Foundation.

Pillar’s Dream-Living Foundation: Impacting Thousands

Inspired by his late mother’s legacy of generosity, Balogun founded the Pillar’s Dream-Living Foundation in 2021. What began as a daily meal for sixty (60) children has blossomed into a large- scale initiative, supporting vulnerable families, women entrepreneurs, and educational outreach.

Recent milestones include:

• Providing food aid to over 250 families during Ramadan 2025 and extending support to correctional facilities.

• Donating 25+ grinding machines to rural women, fostering economic independence.

• Installing solar-powered boreholes to provide sustainable clean water access.

• Supporting scholarships and educational programs across Nigeria.

The 7/7 Initiative: Using Celebration as a Catalyst for Change

Each July 7th, Femi Balogun transforms his birthday into a beacon of hope for many. The annual 7/7 Initiative is a signature event of the Foundation, distributing resources and opportunities to empower artisans and young entrepreneurs.

This year, the initiative includes:

• Providing 30 essential equipment sets to skilled artisans lacking the tools to sustain their trades.

• Delivering lasting access to clean water in Kwara State through the installation of state-of- the-art solar-powered boreholes.

• Distributing 100 POS terminals to unemployed youths seeking to launch small businesses.

Femi Balogun is laying the foundation for a brand-new ICT building in Ipaja, Lagos, donating this purpose-built center at the request of NASFAT, a respected Muslim organization. Instead of renovating an existing structure, he is spearheading the creation of a dedicated computer training hub for youths in the community, a space designed from the ground up to inspire and equip future generations with the digital skills that shaped his early years.

Today, the foundation-laying ceremony was held alongside other empowerment initiatives. “These aren’t just gifts; they are pathways to independence and progress for the next generation,” Balogun says. “True celebration is measured by how much hope you can inspire in others.”

Looking Ahead: Vision and Legacy

Balogun’s ambition for Kerojet is clear : to double distribution capacity and become Nigeria’s foremost aviation fuel service provider within the next five years. He remains committed to leadership grounded in integrity, innovation, and social responsibility.

“Focus on integrity, empower your team, and never stop innovating,” he advises young entrepreneurs. “One day, it is your character, not your bank account, that will open doors for you.”

He draws inspiration from his late mother, his team, and the communities Kerojet serves. For Femi Balogun, business is not just about profit; it’s about building trust, fuelling progress, and leaving a legacy that lifts others.

The post The Man Called Femi Balogun: Fuelling Progress, Building Trust appeared first on Business Today NG.

The post Oloyede’s JAMB And The Rest Of Us, By Steve Omolale appeared first on Business Today NG.