Radio Nigeria Ibadan Zonal Station

Category: Economy

  • Change of govt. will be Immaterial, Makinde Assures Investors

    By Iyabo Adebisi

    Oyo State governor, Engineer Seyi Makinde has said that his administration would protect the interest of investors such that change of government would not impair their investments in the state.

    He gave this assurance while playing host to the Secretary General of the African Continental Free Trade Area (AfCFTA), His Excellency Wamkele Mene, who was in Ibadan, the state capital.  

    Speaking on the comparative advantage of the state, Governor Makinde said Oyo State is central in the geography of Nigeria and that of West Africa noting that the state share a common border with the Republic of Benin, which means access to the West African sub-region in terms of developing the market. 

    He said:“We are upgrading our airport in Ibadan to international standard. Why we took that decision is not far-fetched. In Africa, you have three major airlines that go everywhere. The largest is Ethiopian Airline, followed by Kenyan Airline and the Rwandan Air. Oyo State is bigger than Rwanda but they have an airline that goes everywhere. Nigeria is in the centre geographically. So, how come we are connecting through Ethiopia, Kenya, Rwanda or Morocco? Wherever you are going, you first go Far West or Far East and then you try to connect elsewhere.

    “We felt because of the geography and in terms of how much is spent on fuel and trying to connect, if we develop a Kigali-type of airport here in Ibadan, we may be able to attract people who don’t have too much time to waste connecting. 

    “The air side will be ready in September; the terminal itself will be ready in the second quarter of next year.

    “We have a land that is arable; you can literally grow anything here. In terms of agribusiness, we have a competitive advantage. We also have competitive advantage in terms of solid minerals. This is a major lithium belt. We believe that we can also develop that quickly.”

    The governor also said that the state plans to turn the Rasidi Ladoja Circular Road axis into a world-class environment, a city that would be planned to international standards right from the outset.  

    The AfCFTA Secretary General,  Wamkele Mene who was accompanied by his executive members as well as some investors, lauded Governor Makinde for growing the economy by over 4 per cent, saying the performance bested that of the average country on the continent.

    His words, “We see the average growth rate across the continent being 3 or 3.5 per cent. To scale up above that is a testament to your leadership. I think it helps that you came from the private sector, you have a sense of getting things done.”

    Speaking on the essence of the visit, Mene said, “We discussed this visit a few months ago when the governor and his team visited the secretariat. It was the first time that we hosted a governor.

    “The purpose of us coming here is first to consolidate the collaboration between the AfCFTA and Oyo State. Second, it is for us to be aware of what investment opportunities are available in the state. “It is very important for us to be aware.

     “So, where Oyo State is able to say that ‘we are well positioned to support the establishment of a green industrial technology sector, we have the capability for solar or renewable energy’, those kinds of projects would be supported through this syndicated financing that we are agreeing to with the development financing institutions that I have mentioned.

    Speaking earlier, Special Adviser to Oyo State Governor on International Trade and the AfCFTA, Ms Neo Tlhaselo, said Oyo State was ready to optimize the opportunities available in AfCFTA.

    The AfCFTA and his team were later conducted round some key state projects in Ibadan by the governor and other state functionaries.

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  • Forty Farmers Get Grants to Boost Fish Production

    By Oluwatoyin Adegoke

    The Federal Government is collaborating with the Food and Agriculture Organization, FAO and the European Union to empower fish farmers and ensure the sustainability of Nigeria’s fishery resources.

    The intervention also included the launch of  a 200 million naira support initiative to boost aquaculture towards meeting the country’s annual fish demand of more than 3 million tonnes.

    At the official launch of the Scaling Fish Farming Fund Project in Ogun State, 40 fish farmers at the Eriwe Fish Cluster in Odogbolu Local Government Area of the State were provided with grants to enhance their production capacity. 

    Speaking at the event, the Director, Fisheries and Aquaculture at the Federal Ministry of Marine and Blue Economy, Mr. Wellington Omorogbon, represented by Mr. Paul Opuama said the project was aimed at ensuring better livelihoods for the farmers. 

    Representative of the Food and Agriculture Organization in Nigeria, Mr. Koffy Kouacou explained that the project funded by the European Union, the GIZ and other development partners in conjunction with both the federal and state governments would ensure the availability of adequate funding for fish farmers, with a view to boosting fish production in the country.

    The FAO Country Representative affirmed that the set of 40 beneficiaries, under the pilot scheme, would receive between 2.5 and 5 million naira each to upscale their fish farming business and production.

    The Agriculture Programme Manager of the European Union Delegation to Nigeria and ECOWAS, Mr Hugh Briggs pointed out that Nigeria was given the lion share of the grant, totalling 5 million Euros to boost fish production in the country through project being implemented in 12 countries of the world. 

    The Ogun State Commissioner for Agriculture and Food Security, Mr Bolu Owotomo represented by the Director of Fisheries department, Princess Victoria Ojelade, while applauding the intervention also called for the extension of the kind gesture to other fish clusters across the state.

    Other partners and stakeholders in separate contributions renewed their commitment to continuous collaborations with the Nigerian Government and the Fish farmers to further strengthen the aquaculture industry for food security, nutrition, and economic growth.

  • Adopt humane strategies, understanding with the informal sector – Makinde

    By Iyabo Adebisi

    Governor Seyi Makinde of Oyo State has urged members of the Joint Tax Board, JTB and other stakeholders in the revenue generation sector in the country to adopt a humane strategy and understanding before co-opting the informal sectors into its tax net.

    Declaring open the 157th meeting of the JTB held in Ibadan, with the theme – Taxation of the Informal Sector: Potentials and Challenges, Governor Makinde explained that the informal sector is the backbone of the local economy and should be engaged technologically for meaningful impact. 

    The governor called for an increase in production, knowledge, and skills to galvanise Nigerians toward transforming the nation’s natural resources and potential into economic prosperity. 

    Governor Makinde enjoined the stakeholders to consider modalities to deepen partnership with the informal sector, such that dragging them into the tax net would be based on understanding rather than enforcement. 

    Addressing the participants, the Chairman of the Joint Tax Board and Executive Chairman of the Federal Inland Revenue Service, FIRS, Dr Zach Adedeji, warned against any attempt to add a tax burden on the poor and charged the meeting to focus on conceiving strategies to formalise the informal sector before any taxation attempt.

    Earlier, Chairman of the Oyo State Internal Revenue Service Femi Awakan disclosed how the Seyi Makinde-led administration has drastically boosted the state’s internally generated revenue (IGR), noting that with the Oyo experience, there is no challenge too tough to surmount in widening the tax net of any economy.

    The meeting of the Joint Tax Board of Nigeria, JTB, is usually a convergence to address tax-related matters, evolve a workable, effective and efficient tax system across the state and the federal government. 

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  • FRCN Ibadan Multipurpose  Co-operative Re-elects Exco

    By Moyinoluwa Afolabi

    Radio Nigeria Ibadan Staff Unity Multipurpose Co-operative Society Limited has held its 5th Annual General Meeting, AGM. 

    The meeting was held at Studio One of the Broadcasting House, Dugbe, Ibadan, Oyo State.

    The President of the Society, Mr Adedayo Ajeleti, advised members on the need to be financially disciplined, especially during the current economic hardship and urged them to invest in the cooperative Society for financial benefits. 

    Mr Ajeleti, commended the members of the Society for their support and cooperation since the establishment of the Society. 

    Also, Director of Cooperative Services in Oyo State, Alhaja Medinat Adedeji, represented by the Registrar for Cooperative Departmentals, Mrs Aderonke Subair, enjoined the executive members of the Society to treat their members equally, be transparent and remain accountable to them.

    Alhaja Adedeji called on members of the Cooperative Society to comply with all resolutions made during the AGM, to move the Society forward.

    The executives who were re-elected for another year were Mr Adedayo Ajeleti as the President, Mrs Anthonia Akanji as the Vice President, Mr Ayodele Ojo as the Treasurer, Mr Oladimeji Oyeniyi as the Secretary, Mrs Jacinta Odubanjo as, Welfare Officer, while Mrs Olutola Daramola and Miss Aderonke Olajide are Ex-officios. 

    The AGM featured special recognition of a retired member of staff of Federal Radio Corporation of Nigeria, Ibadan Zonal Station, Mr Simeon Ugbodovon, who was also a member of the Cooperative Society, and presentation of gift to the former Manager of the Cooperative Society, Mr Babafemi Adeoluwa for his contributions to the development of the Society. 

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  • Speakers Conference Backs State Police, Demands Bold Economic Reforms

    By Mosope Kehinde

    The Conference of Speakers of State Legislatures of Nigeria has called for bold economic reforms and the establishment of State Police to address the country’s growing security and socioeconomic challenges and concerns.

    The Conference Chairman, Mr. Adebo Ogundoyin, made the call at the inaugural National Policy Dialogue on the Legislative Agenda of the House of Representatives held in Abuja.

    He emphasised the need for collaborative efforts between the National Assembly and State Houses of Assembly to drive meaningful national impact.

    According to Mr Ogundoyin, also the Oyo state speaker, a decentralised police force would allow states to implement localised security measures tailored to their unique needs, rather than relying solely on federally controlled forces.

    “Security remains a paramount concern for every Nigerian. It is not enough to merely condemn acts of terrorism, banditry, kidnapping, and communal violence each time they occur. As legislators, we must enact laws that support proactive, intelligence-driven security measures, strengthen the capacity of our security agencies, and promote community-based policing. 

    “A critical step towards addressing the multifarious security crises in the country would be the establishment of the State Police, a position long advocated for by the Conference of Speakers of State Legislatures of Nigeria. The safety of Nigerians cannot be effectively managed through a one-size-fits-all approach. State Police would enable swift and strategic responses to security threats at the community level.”

    The Conference Chairman further called for a complete overhaul of the nation’s security architecture, including the recruitment and training of more personnel, the provision of modern equipment, and the adoption of technology-driven strategies to combat emerging threats. 

    Beyond security, Mr. Ogundoyin reiterated the need for economic reforms and policies that focus on empowering Nigerian youths, boosting entrepreneurship, and strengthening key industries.

    He outlined youth empowerment (skill acquisition), support for MSMEs, agricultural expansion, advancement of digital economy, improved access to healthcare and education as five strategic areas for economic reforms

    Mr. Ogundoyin commended the leadership of the House of Representatives for its progressive and inclusive approach, particularly in constituting the Committee on Nutrition and Food Security and inaugurating the National Legislative Network on Nutrition and Food Security.

    The Conference of Speakers emphasised the importance of synergy between the National Assembly and State Houses of Assembly in translating legislative agendas into tangible outcomes for Nigerians.

    “As we reflect on the mid-term progress of the 10th House and chart a course for the future, I wish to reaffirm the commitment of the Conference of Speakers to deeper collaboration with the National Assembly. Together, we can build a legislative culture that is proactive, people-focused, and fundamentally rooted in service to our great nation.

    “As leaders and lawmakers, we must rise above partisan interests and regional differences to serve the greater good. We must act not just as representatives of our constituencies, but as true patriots committed to the unity, security, and prosperity of our beloved country.” Mr. Ogundoyin said

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  • FANSIE Foundation Resuscitates Businesses in Ibadan

    By Rotimi Famakin

    It was a dream come true for eight women whose businesses have been struggling as FANSIE Hope and Heritage Foundation founded by Dr Ngozi Egbuchulam supported them with thirty thousand naira each.

    The programme was held at the Academy Suites, Ososami area of Ibadan. The petty traders, selected within the Ibadan metropolis, were given a revolving non-interest loan to trade for one year before handing the money to other selected traders who needed such financial assistance.

    Some of the traders who narrated their experiences said their businesses had suffered financial setbacks, stressing that their plight was further compounded by inflation.

    The beneficiaries who appreciated FANSIE Hope and Heritage Foundation for the support, pledged to make good use of the fund.

    “We thank Dr Egbuchulam for the financial intervention.  We will make good use of the money in our business to further enhance our business”

    The facilitator, FANSIE Hope And  Heritage Foundation, Dr Ngozi Egbuchulam, said the funds were a non-interest loan designed to reflect the objective of the  foundation, which she noted was to bring hope to hopeless women

     “The objective of FANSIE Hope and Heritage Foundation is to bring back your hope on what God has destined for you. God has destined this programme to benefit you all that are here today“.

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    Dr Egbuchulam encouraged the beneficiaries to be diligent and make judicious use of the money to achieve progressive change in their businesses.

    “Let them see that a drop of water has dropped in the front of their house, that is likely to make a mighty ocean. Not the ocean that will sweep them away, but the ocean that will become a tree of life and affect other people’s lives.”

    She said the foundation had been in existence since she was in school, noted that the project was initially named Beta Lyf and later changed to FANSIE Hope and Heritage Foundation training over fifty youths on vocational skills and had supported over one hundred petty traders.

    The facilitator said the vision of the foundation was to elevate women and youth out of poverty.

    “My vision is that in the in the next 100 years come, most people would have been thrown off from poorest of the poor level that makes them to do certain things  they ought not to do that they do out of hunger.

    “My projection is that our youths will have something to be proud of on their own without depending on anybody.”

    Dr Egbuchulam, who noted that the project was not established to gain political relevance, however, expressed readiness to serve the nation when called upon.

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  • Minister Urges Consistent Focus on Workers’ Welfare, Economic Growth

    By Oluwatoyin Adegoke

    Employers, stakeholders, and the government should create a conducive work environment that promotes economic growth, social justice, human rights, and prioritises workers’ welfare.

    The Minister of Labour and Employment, Mr Muhammadu Dingyadi stated this at this year’s Workers day celebration, with the theme, “Reclaiming the Civil Space in the midst of economic hardship” held at the June 12 Cultural Center, Abeokuta, Ogun State.

    Mr Dingyadi, who was represented by the Ogun State Controller of Labour, Federal Ministry of Labour and Employment, Mr Andy Egboh, encouraged workers to continue to organise, mobilise and advocate for their rights and policies that would be of benefit to the entire workforce, the state, and the nation in general.

    In a remark, Ogun State Governor, Prince Dapo Abiodun, urged the state’s workforce to remain patient, committed, steadfast and continue to be reliable partners despite the country’s economic challenges.

    Governor Abiodun assured the gathering that his administration would consider the demands presented by the unions, while reaffirming commitment to improving the lives of the workers.

    Earlier, the Ogun State Chairman, Nigeria Labour Congress, NLC, Mr Hameed Benco-Ademola had called for regular review of the minimum wage to alleviate the impact of economic hardship on workers, and also demanded the suspension of the Contributory Pension Scheme to safeguard retirees’ interests.

    Also, the Chairman of the Trade Union Congress in Ogun State, Mr. Akeem Lasisi, applauded the state government for timely payment of wages and allowances, conduct of promotions exercises as and when due, urged the government to extend the new 77,000 naira minimum wage to all state government workers, across all grade levels.

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  • Fire Guts Oyo Market

    A fire outbreak occurred on Sunday afternoon at Gbagi Market, Ibadan, causing damage to two shops before emergency response teams swiftly moved in to bring the situation under control.

    According to a statement from the General Manager of Oyo State Fire Services, Akinyemi Akinyinka, the distress calls were received from officers at Gbagi Station, the Divisional Police Officer of the station, and several market leaders at approximately 1:23 p.m.

    He said, “We received calls from our officers at gbagi station, DPO Gbagi station and many market leaders at around 1;23 pm. Our men got their around 1;30pm. 2 shops are well alighted the fire is under control and are men are still cooling down.”

    The cause of the fire remains unknown as investigations are ongoing.

    Punch/Olaolu Fawole

  • First Lady Empowers Ondo Women with N50m Textile Grant

    By Isaac Afolabi 

    First Lady, Senator Oluremi Tinubu has pledged a grant of fifty million naira to support women in Ondo State.

    The grant is to empower 200 women in the textile industry, aimed at enhancing entrepreneurship among women.

    Senator Tinubu made this announcement in Akure while distributing professional healthcare kits to midwives in the South-West.

    Appreciating the vital role women play in nation-building, she urged women to also care for their health and overall well-being emphasising on prevention of diseases that could lead to deaths.

    In a remark, Ondo State Governor, Mr Lucky Aiyedatiwa, expressed appreciation to the First Lady for her gesture, noting that her other intervention would significantly contribute to eradicating mother-to-child transmission of deadly diseases across the South-West.

  • Oyo Seeks Collaboration with USA on Solid Minerals Development

    By Iyabo Adebisi

    Oyo State governor, Engineer Seyi Makinde has expressed his administration’s readiness to partner with the United States of America to explore opportunities in solid minerals development, agribusiness, education and other investment opportunities that will benefit both parties.

    The governor stated this when a delegation from the United States Consul-General, led by the Deputy Chief, Political and Economic Section, Kenise Hill, paid him a courtesy visit at the Governor’s Office, Secretariat, Ibadan.

    Governor Makinde, who was represented by the Deputy Governor, Chief Bayo Lawal, said his administration has put in place policies which would aid engagement on solid minerals development, environment, agribusiness and energy supply, among others.

    He said: “The Solid Mineral Development Agency is a new creation put in place following the challenges of solid mineral exploitation in Oyo State. Close to half of the entire landmass of the state has various solid mineral deposits that can be tapped and developed in partnership with the US government. 

    “The state government does not mind if you are relating with the private sector or directly with us; you will get the facts and figures when you get to the Agency.

    “On environment, you can explore environmental activities that could positively impact Oyo State.

    “Also, agribusiness development is one area that is so germane to this government. In the current dispensation, we have put agriculture on the front burner, because we sincerely believe that we must be able to feed our people. 

    “In this regard, before you leave, you can visit some of the agricultural institutions we have around. The IITA is there and it is playing a vital role. I think what you need to do is to put in financial support for the agricultural activities we have embarked upon in the state.

    “So, the American Government can come in to use this opportunity to leverage, assist and collaborate with the Oyo State government with a view to improving food security and reducing poverty in the land. Food is key, and it is a global requirement; it is important globally. And within our space here, we are trying to make sure we feed our people, and we need support and mutual engagement in a way that we would be able to feed our people continuously.

    The governor equally noted that his administration has made tremendous efforts towards ensuring energy sufficiency for the state, stating that it is another area that the US Government could support his Government.

    “As a state government, we know that no industrial development can thrive without energy. In Nigeria generally, industries that sprang up in the 1980s are leaving Nigeria, because of the challenges of energy. 

    Earlier, the Team Lead, Ms Hill, acknowledged the potential of Oyo State, which could be unlocked in the areas of trade and investment opportunities that are beneficial to Nigeria and the United States as well.

    She noted that the United States is ready to expand its trade, investment opportunities and also explore new opportunities in critical areas in the state, such as solid minerals development.

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  • OYHA Approves 2025 Capital Budget Proposals

    By Mosope Kehinde

    The Oyo State House of Assembly has approved the 2025 capital budget proposals of 33 local government areas in the state.

    This became imperative ahead of the proposed financial autonomy for Local Governments.

    The approval was made when the report of the House Committee on Local Government, Chieftaincy Matters and State Honours was presented by its Chairman, a member representing Lagelu constituency, Mr Akintunde Olatunde.

    The budget approval was aimed at streamlining expenditures of all the 33 Local Government areas of Oyo State for probity and accountability to enable them to deliver on their mandates.

    The committee urged all the Local governments to adhere to the approved capital expenditures so as to ensure compliance with the Constitution and the Local Governments Law.

    The Speaker, Oyo State House of Assembly, Mr. Adebo Ogundoyin, said the approval of the local governments’ budget is a significant step towards promoting transparency and accountability in governance.

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  • Retirees Lament Implementation of Pension Increase

    By Olusegun Folarin

    Senior citizens under the aegis of the Nigerian Union of Pensioners (NUP) have lamented the delay in payment of the 33 percent pension increase and consequential adjustment to pensions approved by President Bola Tinubu since last year.

    Zonal Public Relations Officer of the Union in the Southwest, Dr Olusegun Abatan, made this known at the end of a quarterly southwest meeting of the Pensioners in Abeokuta, the capital of Ogun State.

    Dr Abatan lamented the failure of governors in the southwest region to start paying the 32,000 naira to Pensioners as directed by President Bola Tinubu, pointing out that only Governor Seyi Makinde of Oyo State had shown commitment by initiating partial payment of the money.

    The pensioners’ spokesman who also applauded Governor Makinde for the prompt release of funds to offset the pension and gratuities in the state, urged other governors in the region to emulate the kind gesture.

    He appealed to President Bola Tinubu to ensure compliance by the state governors and urged the Pension Transitional Arrangement Directorate to step up the implementation for retired federal workers to alleviate the sufferings of senior citizens in the country.

    Dr Abatan equally appealed to relevant authorities to rescue all pensioners banking with the defunct Heritage Bank who could not access their monies for the past 18 months.

    Earlier, the National President of the Union, Comrade Goodwin Abumisi had promised continuous engagements with the relevant stakeholders on the need to pay greater attention to the welfare of senior citizens in the country.

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  • BREAKING: Tinubu Sacks NNPCL Boss Kyari, Names Ojulari as Replacement

    In a sweeping reconstitution of the Nigerian National Petroleum Company Limited board, President Bola Tinubu has removed the chairman, Pius Akinyelure and the Group Chief Executive Officer, Mele Kyari.

    Consequently, the President appointed Bashir Ojulari as the new CEO, effective from April 2, 2025.

    Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, revealed the development in a statement he signed in the early hours of Wednesday titled, ‘President Tinubu reconstitutes NNPC limited board, appoints new Chairman, Group CEO.

    ’“President Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023.

    “The new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman,” the statement reads.

    Adedapo Segun, who replaced Umaru Ajiya as the chief financial officer last November, has been appointed to the new board.

    Six board members, non-executive directors, represent the country’s geopolitical zones.

    They are Bello Rabiu representing the North West, Yusuf Usman representing the North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas, who represents North Central.

    “President Tinubu also appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.

    “Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Ahmed will represent the Ministry of Petroleum Resources,” Onanuga stated.

    All the appointments are effective today, April 2.

    President Tinubu, invoking the powers granted under Section 59, subsection 2 of the Petroleum Industry Act, 2021, emphasised that the board’s restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialisation and diversification.

    He also handed out an immediate action plan to the new board “to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.”

    Since 2023, the Tinubu administration has implemented oil sector reforms.

    Punch/Olaolu Fawole

  • We will ensure water sustainability – Abiodun

    By Oluwatoyin Adegoke

    Governor Dapo Abiodun says his administration will continue to prioritize rural communities and leverage technology while addressing water challenges in the state to ensure water sustainable. 

    The Governor stated this through the Commissioner for Finance, Mr. Dapo Okubadejo at an inter-ministerial forum in Abeokuta to mark this year’s World Water Day, with the theme”. Glacier Preservation: Synergy for a Resilient Water Future. 

    The program featured discussions by representatives of different ministries and agencies of the government as well as water experts on the need for effective collaborations and community involvement with stakeholders to optimize water supply management and ensure sustainable use of available water resources. 

    Addressing the gathering, the Commissioner for Environment, Mr Ola Oresanya noted that efforts were being made to consolidate on the state’s achievements in the implementation of the United Nations Sustainable Development Goal of water and sanitation for all by the year 2030. 

    Also, the Commissioner for Special Duties, Mrs Funmi Efuwape and that of Inter – governmental Affairs and Rural Development, Mrs Olufemi Ilori – Oduntan emphasized the importance of collective action in addressing the challenges posed by climate change to sustainable water management. 

    Earlier, the Special Adviser to Ogun State Governor on SDGs and Water Resources, Engineer Damilola Otubanjo had announced ongoing maintenance of water facilities to provide affordable and accessible water supply to all residents.

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  • Nigeria, Benin Republic Partner to Boost Cross-Border Trade

    By Olusegun Folarin 

    Nigeria and Benin Republic are working together to strengthen economic connections between both countries and ensure the free movement of commodities in accordance with the Africa Continental Free Trade Agreement, AfCTa. 

    The collaboration also includes the renewed commitment by the Nigerian Customs Service and the Benin Republic Customs towards lowering administrative barriers, expediting trade procedures, and improving the effectiveness of customs clearance operations. 

    The plans were discussed during the visit of the Customs Area Controller, Ogun 1 Area Command, Mr Muhammad Shuaibu to the Regional Director of Plateau Customs, Mr Gado Ibrahim in Porto-Novo, Benin Republic. 

    Mr Shuaibu said the move to strengthen collaborations was in line with the policy thrust of the organization through the Comptroller General of Customs, Mr Bashir Adeniyi to enhance cross-border commerce for national economic growth. 

    Responding, Mr Ibrahim said the authorities of Benin Republic were determined to meet the criteria for resuming full-scale trans – border trade through Igolo border with Nigeria.

    He promised continued efforts to eliminate the identified bottlenecks preventing the growth of cross – border commerce, urging both Countries to keep working together on promoting fresh chances for development and partnership.

    The Ogun Customs Area Controller had earlier met with Benin Republic’s Customs Controller for Igolo – Idiroko Border and engaged clearing agents, traders and other stakeholders.

  • Reactions Trail CBN Policy on New Charges

    By Fasilat Lawal/Rotimi Famakin

    Following the  directive given by the Central Bank of Nigeria, CBN to commercial banks  on the commencement of  new transaction charges for the use of Automated Teller Machines, ATMs, some residents of Ibadan have expressed mixed reactions over the new policy.

    The new charges took effect on the 1st of March this year. 

    Two residents, Tomisin Toriola and Ahmed Babatunde, who spoke with Radio Nigeria in Ibadan, condemned the policy, saying it would inflict more hardship on them. 

    Another resident, Mr Habeeb Aduroja noted that  with the new policy, bank customers would have no choice but to visit their banks for transactions which he said could be hectic

    However, Mr Steven Odumola expressed contrary opinion saying the money generated from the charges could be used to improve infrastructures that would ease bank transaction and be beneficial to the masses. 

    The Central Bank of Nigeria, CBN had in a circular signed by the apex bank’s Acting Director of financial policy and regulation department, John Onojah that customers withdrawing from their bank ATMs  will continue to enjoy free withdrawals.

    Mr Onojah also stated that One hundred naira fee will apply per twenty thousand naira withdrawal at ATMs located at bank branches.

    He noted that For withdrawals at ATMs of other banks, one hundred naira fee plus a surcharge of up to four hundred and fifty naira per twenty thousand naira withdrawal will be charged.

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  • We generated over N2billion in February Says NCS

    By Abisola Oluremi

    The Oyo/Osun Area Command of the Nigeria Customs Service, NCS, says it generated over Two Billion Naira between February 1st and 27th, 2025.

    The Comptroller, Mr Joseph Adelaja stated this at a news conference held at the Command Headquarters, Ikolaba, Ibadan.

    Mr Adelaja explained that the impressive feat was a result of diligence and efficiency of officers in reducing tax evasion, and the use of advanced technology for data analytics, which enhanced monitoring of trade flows and identification of discrepancies

    He noted that the Command seized some contraband goods including Foreign Parboiled Rice, Used tyres, Petroleum Motor Spirit, Used Clothes worth over One Hundred and Fifty Million Naira, duty paid value within two weeks.

    Speaking further, the Comptroller, NSC Oyo/ Osun Command said there was strengthened collaboration with other security agencies to dismantle smuggling networks operating in the region.

    My Adelaja resumed at the command on 7th February , 2025 after Dr Ben Oramalugo was transferred to another command

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  • President Tinubu Signs 2025 Budget into Law

    President Bola Tinubu has signed into law the 54.99 trillion naira 2025 Appropriation Bill.

    The signing ceremony took place on Friday in the President’s office at the State House, Abuja, in the presence of principal officers of the National Assembly and other top government officials.

    The bill was passed by the two Chambers of the National Assembly on Thursday, February 13, after President Tinubu requested an increase from the initially proposed 49.7 trillion naira.

    The approved budget of 54.99 trillion naira exceeds the President’s initial proposal of 54.2 trillion naira.

    The budget is based on key economic assumptions, including a crude oil production target of 2.06 million barrels per day at a benchmark price of $75 per barrel.

    The increase in the budget reflects additional anticipated revenues from agencies such as the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS).

    The 2025 budget aims to address critical areas, including security, infrastructure, education, and health.

    Notably, $200 million has been allocated to mitigate the impact of recent reductions in U.S. health aid.

    The Punch/Maxwell Oyekunle

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  • Ogun Benefits as Foreign Investors Commit $2.5B to Nigeria’s Livestock Sector

    By Abimbola Bamgbose

    Ogun State and a foreign investor known as Jose Batista Sobrinho, JBS, are partnering to improve Nigeria’s livestock sector with the state in line to reap substantially from a $2.5 billion investment.

    While receiving the controlling shareholder of Jose Batista Sobrinho, JBS, Mr Wesley Batista who led his team to the governor’s office in Oke-Mosan, Abeokuta, Governor Dapo Abiodun highlighted Nigeria’s strategic position as Africa’s most populous nation.

    Governor Abiodun emphasized the state’s commitment to infrastructure development, including power generation and distribution, assuring the investors that industries operating within the state would benefit from Nigeria’s most cost-effective power supply.

    The governor reaffirmed his administration’s significant investments in security to safeguard lives and property and pledged to collaborate with President Bola Tinubu’s administration to enhance food security and mitigate food scarcity and inflation in Ogun State and Nigeria at large.

    The controlling shareholder of JBS, Mr Wesley Batista, emphasized the country’s vast potential in human and natural resources and expressed his company’s readiness to leverage its expertise in livestock production to contribute to Nigeria’s economic development.

    Also speaking, Chairman of Flour Mills of Nigeria, FMN, Mr John Coumantaros lauded Governor Abiodun’s efforts in expanding infrastructure, which he said has driven increased investment and economic development.

    Mr Coumantaros also noted that President Tinubu’s administration is focused on improving Nigeria’s macroeconomic conditions through major infrastructure projects spanning the country.

    In her remarks, Chief Executive Officer of the Nigeria Investment Promotion Commission, NIPC, Aisha Rimi, stated that the meeting followed a technical assessment conducted by JBS to evaluate Ogun State’s investment potential.

    She confirmed that the company plans to invest $2.5 billion over the next five years, with Ogun State set to be a key beneficiary of this initiative.

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  • Nigeria-Benin Republic Strengthen Cross-Border Trade Ties for Economic Growth

    By Oluwatoyin Adegoke 

    Nigeria is collaborating with the Republic of Benin to enhance the potential of cross-border trade in fostering economic growth, cultural exchange, and regional cooperation.

    Representatives of both countries reaffirmed their commitment to strengthening the partnerships for economic integration at the annual Festival of Art for Economic Development, held at Idiroko border town with the theme “Cross-Border Trade: What It Is and Why It Matters”. 

    Addressing the participants, the Customs Area Controller, Ogun 1 Area Command, Mr Mohammed Shuaibu said the transformative power of cross-border trade would promote sustainable economic activities through trade and cultural diplomacy while fostering peace and mutual understanding among the people. 

    Mr Shuaibu said the Nigeria Customs Service would not relent in sustaining the efforts at enhancing trade facilitation and economic development in collaboration with the relevant stakeholders.

    In a keynote address, the Executive Producer of the Festival, Dr. Bonny Botoku described cross-border trade as the lifeblood of regional economies, aimed at generating employment, increasing revenue, and enhancing market access for businesses. 

    The Arts Festival featured presentations by the Nigeria Customs Service on the history, benefits and challenges of cross-border trade as well as calls for policy harmonization, technological integration, and improved border security to address the persistent challenges of informal trade, revenue loss, and illegal migration.

    Participants also showcased an array of artistic expressions, reflecting the vibrant cultural and economic ties between Nigeria and the Benin Republic, while reaffirming their commitment to strengthening economic integration, promoting legal trade practices, and leveraging art as a vehicle for sustainable development.

    The event attracted traditional rulers, border community leaders local government authorities, students and representatives of various interest groups from both countries.

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  • OYHA Takes Steps to End Food Scarcity

    By Mosope Kehinde

    The Oyo State House of Assembly has called on the State Government to conduct a comprehensive audit on the Integrated Agricultural Silo Complex Project at Awe in Oyo East Local Government.

    In a motion presented to the house by Mr Olorunpoto Rahman, the call became necessary to assess the current status of the project, the total amount expended, and to take appropriate action based on the findings that emanated its abandonment.

    Mr. Olorunpoto noted that the purpose and critical roles of the Integrated Agricultural Silo in curbing the menace of food scarcity in Oyo State and Nation at large call for urgent attention that will yield positive influence to ensure its aim of food surplus.

    “This infrastructure was intended to reduce post – harvest losses, stabilize food prices, and support farmers by ensuring that surplus produce could be stored and made available during periods of scarcity”

    “Given the current skyrocketed prices of food in Nigeria, completion of this project would go a long way to boost food supply and guarantee food security in the State and the Country at large.” The motion stated

    He lamented that the Project, with a planned capacity of 10,000 metric tonnes was envisioned to be the largest and first of its kind in Nigeria.

    The lawmaker added that the project has been abandoned despite the expenditure of over #1.5 billion and over 11 years of work on – going.

     House however directed its Standing Committee on Agriculture and Rural Development to engage all stakeholders on the way forward and report back their findings to the House.

  • Only economy built to weather all storms can beat poverty – Makinde

    By Iyabo Adebisi

    Oyo State governor, Engineer ‘Seyi Makinde says that for Nigeria to beat the poverty trap and become a prosperous country, its economy must be built to weather all storms. 

    He said the country must also raise entrepreneurs and improve the education standard, stating that despite Nigeria’s natural resources, its people might remain poor until its leadership put the right things in place. 

    Governor Makinde, who was responding to a sermon delivered by Bishop Williams Aladekungbe of Ibadan North Anglican Diocese at the funeral service of his (Makinde’s) elder brother,  Sunday Makinde, held at the Bishop Akinyele Memorial Anglican Church, Ibadan, said mineral resources are not enough to liberate a nation from poverty. 

    According to the governor, the experience of a country like Venezuela, which despite its huge oil reserves cannot hold a candle to Finland, which has based its growth on developing its human capital, is enough to teach Nigerian leaders to, apart from managing the country’s natural resources well, invest more in educating its younger generation and building more entrepreneurs. 

    He said: “While preaching, the Bishop raised some issues. He said Nigeria does not have any reason to be poor because we do have natural resources. But natural resources alone do not lead to prosperity and that is just the reality. 

    “The country with the highest reserve of oil in this entire world is Venezuela and it is poor. So, to have prosperity, we must raise entrepreneurs and raise the standard of education. 

    “I was in Finland with my Team and I tried to make enquiries on why the country got so developed. I asked if they had oil, and they said no. I asked if they had gold and silver and they said no. I asked what they had and they said it was education. 

    “So, in Oyo State, since we came in six years ago, we resolved to meet and exceed the UNESCO recommendation on education by allocating over 20 per cent of our budget to the sector, it is because we know that some people will need to be entrepreneurs to turn the natural resources into something that can take us out of poverty. 

    “Yes, God has blessed us and we should be thankful to Him for that. The first Industrial Revolution was coal. Nigeria was rich then because we had coal but nobody is using it again because the world has moved to oil. Very soon, they will move away from oil to something else. So, we must be prepared. We must go beyond depending on natural resources to having an economy that can weather all storms.”

    The governor, who eulogised his late brother, fondly called Sundo, as a good man, a good brother, a good husband and a good father, recounted how he sacrificed his university education to join the Navy so that his siblings could have a better life.

    He announced the donation of a sum of N25 million to the church towards immortalising his brother, saying: “To start the process of immortalization, on behalf of the entire Makinde family, we will donate N25m to the church.

    Earlier, Bishop Aladekungbe pointed out the inevitability of death, stating that late Sunday Makinde had done his bit and that it was now left for those alive to do their best to serve God and fulfil their purposes on earth. 

    He equally tasked the leadership of the country with the need for the effective management of the country’s natural resources, stating that it was the only way the country could get out of the doldrums. 

    Dignitaries in attendance at the funeral service included the chairman of the PDP Governors’ Forum and Bauchi State Governor, Senator Bala Mohammed; Osun State Governor, Senator Nurudeen Ademola Adeleke; Plateau State Governor, Caleb Mutfwang; the Governor of Delta State, who was represented by the Deputy Governor, Mr Monday Onyeme; former Governor of Osun State, Prince Olagunsoye Oyinlola; wife of Oyo State Governor, Engr. (Mrs) Tamunominini Olufunke Makinde; and Alhaja Mutiat Ladoja, wife of a former Governor of Oyo State. 

    Others included the Acting Chairman of the Peoples Democratic Party (PDP), Ambassador Umar IIiya Damagum; and former Deputy Governor of Oyo State, Ambassador Taofeek Arapaja. 

    Also in attendance were Minister of Power, Chief Adebayo Adelabu; Senator Sharafadeen Ali, Senator Yunus Akintunde, Abass Adigun and the Speaker of Oyo State House of Assembly, Rt Honourable Adebo Ogundoyin.

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  • Adeleke Inaugurates Imole Youth Corps

    By Funmi Ojo

    The Osun State Governor Senator Ademola Adeleke has charged the Imole Youth Corps to demonstrate strong commitment in whatever sector they are assigned to.

    Governor  Adeleke gave the charge at the inauguration of Imole Youth Corps and said the recruitment of the Imole Youth Corps is a transitional arrangement designed to provide opportunities for our youth from all walks of life.

    The Governor who noted the widespread joblessness among the youth, said his administration is focused on tackling the unemployment crisis.

    “Our first decision is to create an enabling environment for job creation by both the government and the private sector. Part of the actions taken so far by the administration is to provide financial support to small businesses through cooperative movement, statewide infrastructure upgrade and the recent launching of the agropreneur programme.”

    He maintained that his government is also enforcing local content in the implementation of the state’s infrastructure projects by engaging local contractors who in turn employ local technicians, thereby imparting new skills as well as patronizing local suppliers to ensure Osun money revolves within Osun state.

    The newly enrolled Imole Youth Corps members are to be trained to deliver support services across the grassroots economy and sectors.

    “As you are aware, your selection was made through a rigorous process. You must justify the confidence reposed in you by working diligently in your posted areas”.

    Governor Adeleke emphasised that the activities of the Imole Youth Corps would be subjected to regular performance evaluation. In this vein, I direct the Ministry of Youth Development to enforce the performance evaluation system to ensure that the goals of the programme are realized.

    Earlier in a welcome address, the commissioner for youths in the state Mr. Moshood Olagunju had explained that ten thousand youth spread across the 332 political wards are engaged to provide services in the area of health, security, environment and education.

    Mr. Olagunju described Governor Ademola Adeleke as a visionary leader who demonstrates his love for the development of youths by engaging them to become active contributors of the growth of the state.

    He, therefore, urged the beneficiaries of Imole Youths Corps to remain dedicated to the virtue of excellence and teamwork to build a better state.

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  • Wike Assures Nigerians of Better Days

    By Iyabo Adebisi

    The Minister of the Federal Capital Territory, Nysom Wike has called on Nigerians to be patient in view of current economic difficulties facing the country.  

    Speaking in Ibadan during a condolence visit to the governor of Oyo State, Engineer Seyi Makinde, over the death of his elder brother, Sunday Makinde, Mr Wike emphasised that the policies being implemented by President Bola Tinubu are for the betterment of nigerians.

    The minister who led former governor of Benue State, Samuel Ortom and other dignitaries, urged the people to understand that while the transition may be painful, it is necessary for long-term benefits.

    He said, “I have always told people to be patient with this government. This country has faced significant challenges in the past, and it’s essential to recognise the progress we’ve made. Nigerians often forget where we were and the efforts being put in place to improve our situation.”

    “Although we may have to endure some hardships now, we should not panic. Mr. President genuinely cares for our country, and I assure you that better days are ahead.”

    “There is no such thing as a miracle solution. The policies Mr. President is enacting are designed to benefit all Nigerians.”

    Mr. Wike said the visit was to identify with Governor Makinde and prayed God to give him strength to bear the irreparable loss of his mentor. 

    In a related development, PDP elder statesman, Chief Bode George also led some PDP chieftains on a condolence visit to Governor Makinde. 

  • Preying on Desperation, The Antics of Loan Sharks

    By Olaolu Fawole

    In times of financial hardship, many individuals turn to quick solutions to meet urgent needs. However, for those unable to access formal financial institutions, loan sharks, individuals or unregulated lenders offering high-interest loans, often become the only option.

    Beneath their superficial appearance, lies a sinister reality that plunges victims into deeper financial and emotional distress.

    Loan sharks target individuals who lack financial literacy and are in immediate need of money.

    Unlike regulated financial institutions, loan sharks often bypass legal and procedural requirements, offering loans without collateral or credit checks.

    While this may sound attractive to borrowers in dire situations, these loans come at exorbitant interest rates and with severe consequences for non-repayment.

    A Shocking Debt Trap

    A man was erroneously credited with ₦2.9 million by an online loan company. The borrower never requested for up to that amount, but when he lodged complaints to clarify the error, the company refused to provide any means to refund the money.

    Instead, they insisted he repay ₦8 million within two years, a staggering 275% increase over the original amount.

    Without an avenue to return the unrequested funds, the borrower was left at the mercy of the lender.

    As the repayment date approached, he faced relentless harassment, including public shaming and threats of legal action.

    His case highlights the exploitative and unethical tactics loan sharks use to entrap unsuspecting individuals.

    This predatory practice is alarmingly common, particularly among digital loan sharks, who often operate in legal grey areas and use technological tools to intimidate borrowers.

    Loan sharks employ several manipulative strategies to entrap their victims such as erroneously depositing money into accounts without borrowers’ consent and later demanding repayment with exorbitant interest.

    Their loans often come with rates that can exceed 100% per month, trapping borrowers in a cycle of debt, while non-payment is met with threats, public shaming by sending defamatory messages to their contacts, and in extreme cases, violence.

    These tactics are not only exploitative but also violate data protection and privacy laws.

    Unfortunately, many victims are unaware of their rights or how to seek legal redress.

    The financial and emotional toll of loan sharks is devastating. Victims often find themselves trapped in a cycle of escalating debt, where repayments barely cover the interest.

    In some cases, psychological distress, whereby constant harassment leads to anxiety, depression, and even suicide in extreme cases.

    The case of the man erroneously credited with ₦2.9 million demonstrates how loan sharks exploit financial desperation and technical loopholes to trap individuals in predatory schemes.

    Beyond individuals, the broader community suffers, as loan sharks perpetuate poverty and erode trust in financial systems.

    Proactive steps to avoid falling victim People should borrow from licensed and regulated financial institutions. Also, they should read the and ensure they understand repayment obligations before borrowing.

    People should never accept or spend money deposited into their accounts without their consent and such moves need to be report to relevant authorities immediately.

    Loan sharks thrive in the shadows, preying on the most vulnerable members of society.

    As individuals, communities, and governments, there must be collective efforts to expose their operations and provide better financial alternatives for those in need.

    By raising awareness, enforcing regulations, and promoting financial inclusion, the society can break the cycle of exploitation and empower individuals to achieve financial stability.

    The fight against loan sharks is far from over, but with collective efforts, a future free from their grip is within reach.