The National Institute for Cultural Orientation (NICO) has called on Nigerians to support local manufacturers by prioritizing the purchase of locally made products. According to NICO, increased patronage of homegrown goods can significantly boost the nation’s economy, create jobs, and foster pride in Nigerian culture. This message was emphasized in a recent campaign, where NICO highlighted the cultural and economic benefits of choosing locally produced items over imported goods. Strengthening the Local Economy through Patronage Nigeria’s dependence on imported goods has often placed strain on the local economy. NICO officials pointed out that every imported product replaces a local equivalent,…
Author: Temitope N.
As Nigeria grapples with escalating fuel prices and frequent power supply disruptions, solar energy is emerging as a crucial alternative for households and businesses seeking stability in their energy supply. Rising costs and an unreliable national grid have intensified interest in solar energy solutions across the country, according to industry experts, who predict that these factors will accelerate solar adoption. Solar energy, once considered a niche or supplementary source of power, has gained attention for its reliability, long-term cost-effectiveness, and environmental benefits. In an economy where conventional energy sources are becoming increasingly burdensome, solar technology presents a viable option that…
The Federal Government has disclosed that Nigerians paid over N40 billion in road taxes to state governments in the last fiscal year, underscoring the substantial role of road taxes in regional revenue generation. These funds, collected as part of state-level initiatives to improve infrastructure, are seen as essential for the maintenance and development of local road networks that serve millions of Nigerians daily. The government emphasized that road tax revenues are not only crucial for local infrastructure projects but also represent an important component of state budgets. By providing funding for critical infrastructure needs, these taxes help mitigate the burden…
The Oyo State Command of the Nigeria Customs Service (NCS) has made significant strides in its fight against smuggling, recently intercepting a substantial quantity of smuggled petrol and various other contraband goods. This operation highlights the ongoing efforts of customs officials to curb illegal trade activities that threaten national security and economic stability. Details of the Interception The Oyo Customs Command reported that it intercepted over 10,000 liters of petrol during a routine patrol in the region. The seized fuel was found in a hidden compartment of a truck attempting to bypass official checkpoints. Alongside the petrol, customs officials also…
In a significant move to enhance gender diversity within the trade and customs sectors, the Nigeria Customs Service (NCS) has partnered with the World Customs Organization (WCO) to implement various initiatives aimed at empowering women and promoting inclusive practices. This collaboration is part of a broader strategy to address gender disparities and encourage greater female participation in customs and trade-related professions, a sector traditionally dominated by men. Understanding Gender Diversity in Customs Gender diversity refers to the equitable representation of individuals of different genders within an organization or sector. In the customs and trade arenas, increasing the number of women…
In a worrying trend, bandits and criminal syndicates in Nigeria have reportedly been exploiting pre-registered SIM cards to circumvent the National Identification Number (NIN)-SIM registration requirements, a major security initiative aimed at combating crime and improving traceability. This discovery has raised concerns about the effectiveness of the NIN-SIM integration in tracking criminals, as these pre-registered SIMs allow users to bypass government surveillance and continue illicit activities without leaving a traceable digital footprint. Exploiting Loopholes in NIN-SIM Policy The NIN-SIM policy, launched to create a reliable identification system linking every SIM card to a registered NIN, was designed to improve national…
The Securities and Exchange Commission (SEC) has announced plans to incorporate cybersecurity and artificial intelligence (AI) into its curriculum as part of a broader effort to modernize training standards within Nigeria’s financial sector. The review aims to equip finance professionals with the knowledge and skills to address the rapidly evolving digital landscape, particularly as technology continues to transform financial markets globally. This initiative is part of SEC’s response to the growing need for advanced digital competency in safeguarding Nigeria’s financial ecosystem. Addressing Emerging Threats and Opportunities in Finance SEC’s move to include cybersecurity and AI reflects its commitment to addressing…
John Obaro, the founder and managing director of SystemSpecs, a leading African technology firm, has received a prestigious award for his significant contributions to leadership and innovation in the technology space. Obaro was honored at the recent Leadership Technology Awards for his instrumental role in shaping Africa’s financial technology landscape and for his visionary leadership in expanding digital solutions across the continent. Pioneering Financial Technology in Africa Obaro’s recognition is rooted in his transformative impact on Africa’s financial technology industry. Under his guidance, SystemSpecs introduced Remita, a widely-used payment platform that has revolutionized payment collection and processing in Nigeria. Remita…
The Fisheries Society of Nigeria (FISON) has urged the government to establish a national institute dedicated to fisheries and aquaculture to address critical challenges in the sector and drive sustainable growth. According to FISON, a dedicated institute would play a vital role in advancing research, training, and policy development, while promoting economic benefits and food security. Importance of a Fisheries Institute Nigeria’s fisheries and aquaculture sector is a significant part of the country’s agricultural landscape, providing employment and a critical source of protein for millions of Nigerians. However, the sector faces challenges, including limited research, inadequate training facilities, and outdated…
Ghana is advocating for the introduction of a regional currency within the Economic Community of West African States (ECOWAS) as a means to facilitate fuel purchases from the newly operational Dangote Refinery in Nigeria. This call for a regional currency comes amidst growing economic challenges and currency depreciation faced by several West African countries, with the potential to enhance trade, reduce reliance on external currencies, and improve stability across the region. Proposal for an ECOWAS Currency The proposed ECOWAS currency, known as the “eco,” has been in discussion for over two decades as part of an effort to integrate and…