Regulators | ÂÌñÏ×ÆÞ Consumer Experience Is A Top Priority Mon, 15 Sep 2025 22:59:57 +0000 en-GB hourly 1 https://wordpress.org/?v=6.7.3 /wp-content/uploads/2019/12/cropped-CC-Logo-for-Favicon-1-32x32.png Regulators | ÂÌñÏ×ÆÞ 32 32 Economy: Atiku’s claims a disconnect from ‘authentic Nigerian reality’ –Presidency /45286?utm_source=rss&utm_medium=rss&utm_campaign=economy-atikus-claims-a-disconnect-from-nigerias-socio-economic-reality-presidency Mon, 15 Sep 2025 22:55:31 +0000 /?p=45286 *The Nigerian Presidency describes former Vice-President Atiku Abubakar’s latest statement on the economy as a disconnect from ‘the authentic Nigerian reality’ Alexander Davis | ÂÌñÏ×ÆÞ…

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*The Nigerian Presidency describes former Vice-President Atiku Abubakar’s latest statement on the economy as a disconnect from ‘the authentic Nigerian reality’

Alexander Davis | ÂÌñÏׯÞ

The Nigerian Presidency has described former Vice-President Atiku Abubakar’s latest pronouncement on the economy as a disconnect from “the authentic Nigerian reality”.

The Federal Government said recent statistics, however, tell a different narrative about socioeconomic developments in the West African country.

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, who issued a rejoinder to Atiku’s recent statement Monday, September 15, 2025, stated: “Talk is cheap. Former Vice-President Atiku Abubakar and his handlers are clearly out of touch with the positive developments currently unfolding in our country.”

The government insisted that their claim that hunger is ravaging Nigeria, and their comparison of the country’s situation to the unrest in France before the 1789 Revolution or the 1917 Bolshevik Revolution in Russia, “is grossly misleading.”

Onanuga also stated: “Their latest statement demonstrates a disconnect from the authentic Nigerian reality, as recent data tells a different story.

“Just today, the National Bureau of Statistics (NBS) released its figures for August, showing that headline inflation has declined for the fifth consecutive month.”

The Presidential aide also explained: “Over the weekend, the NBS also reported a record trade surplus, with the contribution of non-oil exports to our trade balance now nearly matching that of crude oil at a ratio of 48:52 percent.

“Our Foreign Exchange (Forex) reserves are on the rise, now approaching $42 billion.”

The statement further noted: “When President Tinubu assumed office, reserves stood at $32 billion, much of it encumbered.

“This administration has since cleared over $7 billion in arrears, including $800 million owed to airlines.”

It stated that Under President Bola Ahmed Tinubu, Nigeria is recording “unprecedented revenues”.

“9States are now able to pay salaries and gratuities promptly and still have surplus funds for capital and social projects—an achievement not previously witnessed at this scale.

“Nigeria is moving in the right direction. In contrast, Atiku and his party remain stuck in the past, fixated on doomsday scenarios and revolutionary rhetoric,” Onanuga asserted.

According to him, “ironically, many of the challenges we face today stem from the economic mismanagement during the PDP years, when Atiku was Vice-President. President Tinubu and his team are working relentlessly to correct those errors, with bold reforms.”

The Presidency said after just two years and five months in office, “we are proud of the progress being made under President Tinubu’s leadership.”

The statement added: “Atiku and his allies may choose to ignore these gains, but Nigerians can see and feel the positive changes taking place across the nation.”

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Air Power: NAF announces admissions to International Helicopter Flying School, Enugu /45249?utm_source=rss&utm_medium=rss&utm_campaign=naf-announces-admissions-into-international-helicopter-flying-school-enugu Mon, 15 Sep 2025 12:03:27 +0000 /?p=45249 *Ehimen Ejodame, Spokesman of the Nigerian Air Force Spokesman, urges the prospective applicants to ‘take to the skies’ with the Nigerian Air Force International Helicopter…

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*Ehimen Ejodame, Spokesman of the Nigerian Air Force Spokesman, urges the prospective applicants to ‘take to the skies’ with the Nigerian Air Force International Helicopter Flying School, located in Enugu, South-East Nigeria, a pioneering institution dedicated to producing world-class helicopter pilots from the country  

Isola Moses | ÂÌñÏׯÞ

As the country expands capacity building efforts to combat increasing security challenges, the Nigerian Air Force (NAF) invites suitably qualified Nigerians to enroll for Helicopter training at the Nigerian Air Force International Helicopter Flying School (IHFS), located in Enugu, Enugu State, South-East Nigeria.

ÂÌñÏ×ÆÞ reports Ehimen Ejodame, Nigerian Air Force Spokesman, who stated this at the weekend in a statement via his verified social media account, urged the prospective participants to “take to the skies with the Nigerian Air Force International Helicopter Flying School (IHFS), a pioneering institution dedicated to producing world-class helicopter pilots.â€

Boeing: US regulators fine global aircraft maker over $3.1m for ‘widespread’ safety violations

The NAF Spokesman described the IHFS as a distinguished school that “delivers comprehensive training programmes for both Military and civilian students, equipping them with the expertise and confidence required to excel in the aviation sector.â€

He also said the training school is equipped with state-of-the-art facilities, highly experienced instructors, and an unwavering commitment to excellence.

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Ejodame assured the Nigerian Air Force International Helicopter Flying School “stands at the forefront of aviation training, shaping the future of airpower in Africa and beyond.â€

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Boeing: US regulators fine global aircraft maker over $3.1m for ‘widespread’ safety violations /45242?utm_source=rss&utm_medium=rss&utm_campaign=boeing-us-regulators-fine-aircraft-manufacturer-over-3-1m-for-widespread-safety-violations Mon, 15 Sep 2025 11:55:22 +0000 /?p=45242 *The United States Federal Aviation Administration proposes over $3.1 million in fines against Boeing for safety violations in 737 production Gbenga Kayode | ÂÌñÏ×ÆÞ Following…

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*The United States Federal Aviation Administration proposes over $3.1 million in fines against Boeing for safety violations in 737 production

Gbenga Kayode | ÂÌñÏׯÞ

Following a 2024 midair door plug blowout, and hundreds of other quality-control failures linked to 737 production line, the United States (US) Federal Aviation Administration (FAA) has proposed over $3.1 million in fines against Boeing.

The US aviation regulators have cited hundreds of safety violations in its 737 aircraft production lines, accusing the leading aircraft manufacturer of pressuring its own safety inspectors.

ÂÌñÏ×ÆÞ learnt the American country’s FAA, in penalty letters issued last week, affirmed said the company’s violations occurred between September 2023 and February 2024.

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The Boeing 737 passenger family has multiple models, including the original 737-100/200, the Classic series (737-300/400/500), the Next-Generation (NG) series (737-600/700/800/900/900ER), and the latest 737 MAX series (737 MAX 7, 8, 9, 10). However, the passenger capacity varies significantly by model and airline configuration, ranging from around 85 to over 230 passengers.

The US aviation regulators stated those included actions linked to the January 5 midair door plug blowout on an Alaska Airlines 737 Max 9, agency report said.

The FAA further explained that it used the “maximum civil penalty” allowed under the US Federal law.

According to the FAA, inspectors had found widespread failures in Boeing’s quality system at its 737 factory in Renton, Washington, as well as at Spirit AeroSystems’ subcontractor facility in Wichita, Kansas.

Boeing presented two planes for certification that were not airworthy, and failed to follow required quality-control procedures, the FAA revealed.

The aviation sector regulatory agency as well uncovered that a Boeing employee pressured a company safety representative to sign off on a 737 Max aircraft even though the inspector believed it did not meet Federal standards in the US.

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According to FAA, such interference in regulatory affairs was a violation of rules meant to ensure inspectors remain independent from company production pressures in the country.

Boeing has 30 days to respond to the FAA’s allegations, and the proposed $3.1 million fines.

What it means for travellers

As regards the regulatory safety oversight, the FAA’s findings suggest ongoing problems with Boeing’s 737 production, an aircraft flown by major United States’ carriers.

Regulators say they are increasing scrutiny of the company, report noted.

In terms of the passenger impact, the proposed fines don’t immediately affect flight schedules, but repeated safety concerns have led to more inspections and occasional flight cancellations while planes are checked across the industry.

Meanwhile, report indicates that Boeing could contest the fines, negotiate a settlement, or accept the penalties from the FAA.

The company is already under pressure from airlines, regulators, and the US Congress to overhaul its safety culture in recent times, according to report.

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Illegal Mining: Minister hails Nigerian court verdict against Ansaru Commander over economic sabotage /45238?utm_source=rss&utm_medium=rss&utm_campaign=illegal-mining-minister-hails-nigerian-court-verdict-against-ansaru-commander-over-economic-sabotage Mon, 15 Sep 2025 11:43:53 +0000 /?p=45238 *Dr. Dele Alake, Minister for Solid Minerals Development, declares the court verdict has finally established that bandits engaged in illegal mining to fund their equally…

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*Dr. Dele Alake, Minister for Solid Minerals Development, declares the court verdict has finally established that bandits engaged in illegal mining to fund their equally illicit operations across Nigeria

Alexander Davis | ÂÌñÏׯÞ

Dr. Dele Alake, Honourable Minister for Solid Minerals Development (MSMD),  has described the court verdict that sentenced Mahmud Usman, Ansaru Commander, to 15 years’ imprisonment as a major victory in the war against illegal mining in Nigeria.

ÂÌñÏ×ÆÞ reports Justice Emeka Nwite of the Federal High Court, Abuja, FCT, Thursday, September 11, 2025, and found Usman guilty, remanding the accused in prison to face 31 other charges.

Commending the Nigerian Judiciary for supporting the Federal Government’s efforts at tackling illegal mining in the economy, Dr. Alake said the verdict had finally established that bandits have engaged in illegal mining to fund their equally illicit operations across the country.

Boeing: US regulators fine global aircraft maker over $3.1m for ‘widespread’ safety violations

Segun Tomori, Special Assistant to the Minister on Media, Sunday, September 14 stated the Minister also said: “It is gratifying for me that the Judiciary is aligned with the Ministry’s objective of zero tolerance for illegal mining.

“Further tightening of the noose around illegalities in mining continues as more drastic measures will be announced shortly.”

Alake disclosed his Ministry should monitor the proceedings of the remaining 31 cases of terrorism against the Ansaru commanders.

He further stated that regulators of the mining sector have a lot to learn from these cases to improve capacity to counter illegal mining in Nigeria.

Alake also applauded the Directorate of State Security Services (DSS) for the yeoman’s job of monitoring, detecting, and arresting terrorists to face the wrath of the law.

He assured: “We shall increase inter-agency collaboration to raise the tempo of surveillance to rid our communities of illegal mining perpetrated by bandits.”

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The statement as well noted the movement, translated as the Vanguard for the Protection of Muslims in Black Africa, the Ansaru group is facing court charges for attacking the Nigerian Army Wawa Cantonment and raiding Kuje Prisons, Abuja, in 2022, among other terrorist activities.

It is recalled the Minister for Solid Minerals Development established the Mining Marshals, in 2024, to combat illegal mining and improve the security of the sector.

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Air Peace: NCAA clarifies regulatory clearance for airline’s co-pilot despite NSIB report /45236?utm_source=rss&utm_medium=rss&utm_campaign=air-peace-ncaa-clarifies-regulatory-clearance-for-airlines-co-pilot-despite-nsib-report Mon, 15 Sep 2025 11:40:19 +0000 /?p=45236 *Michael Achimugu, Director of Public Affairs and Consumer Protection at the Nigerian Civil Aviation Authority, explains how the regulatory body followed due process, based on…

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*Michael Achimugu, Director of Public Affairs and Consumer Protection at the Nigerian Civil Aviation Authority, explains how the regulatory body followed due process, based on the available facts and internal investigations concerning Air Peace Airline’s incident in Port-Harcourt

Isola Moses | ÂÌñÏׯÞ

Sequel to the release of the Nigeria Safety Investigation Bureau (NSIB) report on the airline’s incident at the Port-Harcourt International Airport, the Nigerian Civil Aviation Authority (NCAA) has clarified the circumstances surrounding its decision to clear the co-pilot of Air Peace.

ÂÌñÏ×ÆÞ reports the NSIB report on the pilots reportedly indicted the co-pilot alongside his other colleagues for involvement with hard drugs and alcohol during the flight.

Boeing: US regulators fine global aircraft maker over $3.1m for ‘widespread’ safety violations

Reacting to the accusation of conflicting regulatory affairs of NCAA and NSIB regarding the same incident, Michael Achimugu, Director of Public Affairs and Consumer Protection at NCAA, in a statement via a verified X account  at the weekend, emphasised that the aviation regulatory body followed due process based on the available facts and internal investigations.

Achimugu said both the NCAA internal investigation and the NSIB report did not indict the airline’s co-pilot.

He also noted this underlined the regulatory Authority’s reason for the co-pilot’s clearance and return to work.

It is recalled that an Air Peace aircraft had a runway excursion Sunday, June 13, after landing at the Port Harcourt International Airport, in Rivers State, South-South Nigeria.

The affected aircraft the airline had veered off the runway without any damage.

The NSIB report of an investigation into the incident revealed that the aircraft touched down 2,264 metres from the runway threshold, well beyond the recommended touchdown zone, and eventually came to a stop at 209 metres into the clearway.

The report apparently indicted the crew members, including the pilot and co-pilot concerned after a medical test of their bloodstream.

READ ALSO Diplomacy: Tensions Rise As Xenophobic Flare-Ups Unsettle Nigerians, Others In South Africa

Minister Hails Nigerian Court Verdict Against Ansaru Commander Over Illegal Mining, Economic Sabotage

Reacting to the indicting report of the incident, the Management of Air Peace, however, picked holes in indictment and denied the allegations of hard drugs and alcohol on the crew members during the flight.

Further on NCAA’s rationale for clearing the co-pilot to resume flying,

Achimugu stressed that the aviation regulatory body followed due process in view of available facts and internal investigations.

NSIB report didn’t indict Air Peace’s co-pilot, says Achimugu

The Director of Public Affairs and Consumer Protection further averred that both the NCAA internal investigation and the NSIB report did not indict the co-pilot, underlining the reason for his clearance and return to work.

The durability of the NCAA rules is occasionally tested by real-life incidents, stated Achimugu.

He equally said that was why the extant rules are subjected to reviews consistently.

He further stated: “I learnt yesterday (Friday), that the NCAA was being blamed for giving clearance to the first officer.

“But based on the NCAA internal findings and the NSIB preliminary report, the co-pilot was not found culpable.”

The NCAA Director of Public Affairs and Consumer Protection stated: “In fact, he advised the captain to go around, which the captain did not heed.

“Given that, we believe it is unjust to keep someone grounded for a year while an investigation is ongoing, if there is no evidence of wrongdoing.â€

In regard to Air Peace’s internal measures related to such incidents, he explained that “airlines are allowed to have internal policies and mechanisms on certain issues, and they are required to submit compliance reports to the authority.

“However, as is the case globally, no matter how sound regulations may appear on paper, their true strength is only revealed when tested by real-life incidents.

“That is why regulations remain subject to review and updates.â€

Director: NCAA Chief will address matter

Achimugu, therefore, assured Nigerians and industry stakeholders that Capt. Chris Najomo, Director-General of NCAA, would address the matter, as he is already conducting investigations into the incident.

According to him, the NCAA followed internationally recognised procedures for post-incident assessments, including the use of NCAA-approved testing centres.

He, however, acknowledged that some questions remained unanswered, particularly on the side of the NSIB, which is the statutory body responsible for conducting accident and incident investigations in the country.

“I have reached out to the NSIB and spoken to their team, but I’m still waiting for comprehensive feedback.

“I flagged certain inconsistencies that I believe require urgent clarification.

“My DG has just returned to the country, and is expected to speak to the matter formally tonight,” Achimugu stated.

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Nigeria harps on teachers’ vital certifications, bars unqualified schools as centres for WASSCE, NECO, others /45187?utm_source=rss&utm_medium=rss&utm_campaign=nigeria-harps-on-teachers-vital-certifications-bars-unqualified-schools-as-centres-for-wassce-neco-others Fri, 12 Sep 2025 20:48:27 +0000 /?p=45187 *The Federal Ministry of Education directed the accreditation of both public and private secondary schools for the conduct of public examinations, including WASSCE, NABTEB, NECO…

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*The Federal Ministry of Education directed the accreditation of both public and private secondary schools for the conduct of public examinations, including WASSCE, NABTEB, NECO and NBIAS, in line with the government policy decision to strengthen professionalism in the teaching profession in Nigeria

Isola Moses | ÂÌñÏׯÞ

Against the backdrop of the increasing menace of unqualified teachers raising serious concerns among education stakeholders in Nigeria, the Federal Government has announced that secondary schools and colleges with unqualified teachers will no longer be allowed to serve as registered examination centres for the West African Examinations Council (WAEC) and the National Examinations Council (NECO) effective from March 2027.

ÂÌñÏ×ÆÞ reports Dr. Tunji Alausa, Honourable Minister for Education, in a strategic policy directive issued Thursday, September 11, 2025, and addressed to the Registrar/Chief Executive Officer of the Teachers Registration Council of Nigeria (TRCN), directed teachers to obtain the necessary certifications to remain relevant in the teaching profession.

Dr. Tunji Alausa, Honourable Minister for Education

The directive stated: “The Federal Ministry of Education has directed that, in line with government policy to strengthen professionalism in the teaching profession, the accreditation of both public and private secondary schools for the conduct of public examinations — WASSCE, NABTEB, NECO and NBIAS — shall henceforth be contingent on the Teachers Registration Council of Nigeria (TRCN) certification of teachers engaged in such schools.â€

Hitherto, certain surveys in the public domain suggested that several teachers in especially private schools and colleges are also unqualified, according to report.

Concerned stakeholders also have emphasised the recruitment of unqualified teachers has remained a persistent, age-long problem affecting students’ learning outcomes in the country.

TRCN on menace of unqualified teachers in schools, colleges

It is recalled the TRCN, in 2023, had declared that about 70 percent of teachers in some regions of the country were unqualified, raising serious concerns among education stakeholders.

Healthcare Alert: NAFDAC seizes N1.2bn fake, unregistered malaria drugs in Lagos

Dr. Alausa, in the directive, asserted: “Accordingly, effective from March 2027 for WASSCE, May 2027 for NABTEB, June 2027 for NECO, and June 2027 for SAISSCE, any school whose teachers are not duly registered and licensed with the TRCN shall be disqualified from serving as an examination centre.â€

The Minister for Education restated: “State governments are, therefore, requested to take due cognisance of this directive and put in place necessary measures to ensure that all teachers in state-owned secondary schools and private secondary schools obtain the requisite TRCN certification within the stipulated two years from the date of this policy directive.â€

According to the Ministry, compliance with this directive will be closely monitored, as schools are expected to achieve a minimum compliance rate of 75 percent by 2026 and full compliance of 100 percent by 2027.

READ ALSO: Air Peace Alleges Conflicting Regulations As NSIB Affirms Pilots Test Positive For Alcohol, Drugs

The memo further explained that “teachers who are non-education graduates but possess not less than 12 months of classroom teaching experience are encouraged to enrol in the abridged professional certification programme offered through the National Teachers’ Institute (NTI).â€

The directive as well noted that NTI programme “consists of short professional courses lasting between three and six months, after which participants will qualify for TRCN registration and licensing.â€

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Healthcare Alert: NAFDAC seizes N1.2bn fake, unregistered malaria drugs in Lagos /45181?utm_source=rss&utm_medium=rss&utm_campaign=safety-alert-nafdac-seizes-n1-2bn-fake-unregistered-malaria-drugs-in-lagos Fri, 12 Sep 2025 20:36:39 +0000 /?p=45181 *Prof. Mojisola Adeyeye, Director-General of the National Agency for Food and Drug Administration and Control, describes the interception of over N1.2 billion fake medicines as…

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*Prof. Mojisola Adeyeye, Director-General of the National Agency for Food and Drug Administration and Control, describes the interception of over N1.2 billion fake medicines as part of ‘NAFDAC’s sustained nationwide operation to protect public health and ensure only safe, quality medicines are available’ to Nigerian consumers

Isola Moses | ÂÌñÏׯÞ

In protecting consumers while safeguarding the health of Nigerians at large, the National Agency for Food and Drug Administration and Control (NAFDAC) has said its operatives intercepted counterfeit malaria medicines valued at over N1.2 billion in Lagos.

NAFDAC disclosed this development in a statement Friday, September 12, 2025, via its verified official X handle.

The health sector regulatory agency also noted that its operatives raided a warehouse in the Ilasa-Oshodi area, where they uncovered and seized 277 cartons of the fake Malamal Forte drugs.

Nigeria harps on teachers’ vital certifications, bars unqualified schools as centres for WASSCE, NECO, others

The statement noted: “NAFDAC has intercepted 277 cartons of counterfeit and unregistered Malamal Forte malaria drugs, valued at over N1.2 billion, in a warehouse located in the Ilasa-Oshodi area of Lagos State.”

The agency said the unregistered products were concealed in cartons labelled as Diclofenac Potassium 50mg and illegally imported from Shanxi Tianyuan Pharmaceuticals Group in China.

The consignment was falsely declared as spare parts to evade detection.

Prof. Mojisola Adeyeye, Director-General of NAFDAC, described the latest interception of fake drugs from economic saboteurs as part of a broader crackdown on counterfeiters.

Adeyeye stated: “This seizure is part of NAFDAC’s sustained nationwide operation to protect public health and ensure only safe, quality medicines are available to Nigerians.”

She also explained that the agency had intensified monitoring at ports and warehouses across the country, working with other security agencies to stop smugglers from flooding the market with dangerous products.

READ ALSO: Air Peace Alleges Conflicting Regulations As NSIB Affirms Pilots Test Positive For Alcohol, Drugs

First Lady Tinubu Asserts Nigerian Ethos, Advocates Women Economic Empowerment, Mentorship

The NAFDAC Chief affirmed the Federal Government’s support to the agency has strengthened the ongoing fight against fakers, counterfeiters, and their collaborators in the West African country’s

Prof. Adeyeye said: “NAFDAC’s Director-General, Prof. Mojisola Adeyeye, reaffirmed the Agency’s commitment, with the full support of the Presidency and Federal Ministry of Health, to eliminating counterfeit and substandard medicines from Nigeria.”

The agency as well explained that the raid reinforced its warning to importers and distributors that it would not relent in its efforts ridding the market of harmful drugs capable of endangering human lives.

It should be noted that counterfeit and substandard medicines remain a major public health challenge in Nigeria, where malaria accounts for one of the highest disease burdens globally, according to report.

Likewise, the World Health Organisation (WHO) has estimated that Nigeria contributes about 27 percent of global malaria cases and 31 percent of malaria deaths.

Subsequently, public health experts have warned that the circulation of fake antimalarial drugs not only threatens lives but also worsens resistance to treatment, undermining years of progress in combating the disease in the West African country.

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12 Ways Nigerian economy has changed structurally, by Tope Fasua /45178?utm_source=rss&utm_medium=rss&utm_campaign=12-ways-nigerian-economy-has-changed-structurally-by-tope-fasua Fri, 12 Sep 2025 20:33:41 +0000 /?p=45178 *Value addition to raw materials, among others, is fast becoming a main driver of the Nigerian economy Tope Fasua Only 3% of GDP is oil…

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*Value addition to raw materials, among others, is fast becoming a main driver of the Nigerian economy

Tope Fasua

  1. Only 3% of GDP is oil and gas. They rest is non oil.
  2. Better capturing of entertainment sector where many youths are involved.
  3. Higher volumes of local manufacturing due to weaker naira and reduced imports.
  4. 30% increase in non oil exports and 30% reduction in all imports.
  5. New oil and gas industry where Nigeria is net exporter of refined petroleum to US and Saudi and UAE while we have become a new importer of crude oil. Disappearance of fuel queues with ease of local production by Dangote etc.

Nigeria harps on teachers’ vital certifications, bars unqualified schools as centres for WASSCE, NECO, others

  1. Incentive for non-oil exports like cocoa, cashew, soybean, etc with cheaper naira. Cocoa exports made N4trillion for Nigerians in 2024. May be better in 2025. Many have returned to the Land. Palm oil, cocoa, cashew, soybean driving  the market and making profits for companies and individuals alike.
  1. Value addition to raw materials becoming a main driver of the economy. Export of manufacturers especially FMCGs and even cars along west African region.
  2. Explosion of hard infrastructure at state levels. Roads, bridges, captive electricity like solar, complemented by FG investment in infrastructure, which is the only way to reduce multidimensional poverty.
  3. Stable Naira good for planning. Reversal of unnecessary hemorrhage of foreign currency. Many foreign schools now coming to establish in Nigeria e.g., Charterhouse, King’s College, etc., Japa for Master’s degree has reduced sharply.

READ ALSO: First Lady Tinubu Asserts Nigerian Ethos, Advocates Women Economic Empowerment, Mentorship

  1. Stable Naira is helped by increasing foreign reserves … $42 billion and growing.
  2. Higher salaries for many workers in private and public sector …helping to mitigate the inflationary effects. More tax reliefs coming Jan 1 2026.
  3. More business opportunities in the local economy as a result of focus on Naira and not Dollar.

*Fasua (PhD) is Special Adviser to the President on Economic Matters (Office of the Vice-President).

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FCCPC recovers N10bn for aggrieved consumers as banking, FinTechs record highest complaints /45131?utm_source=rss&utm_medium=rss&utm_campaign=fccpc-recovers-n10bn-for-aggrieved-consumers-as-banking-fintechs-record-highest-complaints Thu, 11 Sep 2025 21:04:08 +0000 /?p=45131 *The Federal Competition and Consumer Protection Commission announces it has recovered N10 billion for aggrieved consumers in the Nigerian economy Isola Moses | ÂÌñÏ×ÆÞ In…

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*The Federal Competition and Consumer Protection Commission announces it has recovered N10 billion for aggrieved consumers in the Nigerian economy

Isola Moses | ÂÌñÏׯÞ

In regard to consumer dissatisfaction with products and service delivery in the economy, Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has revealed the banking and Financial Technology (FinTech) sectors ranked among with the highest number of complaints in a recent survey of 30 sectors of the economy.

ÂÌñÏ×ÆÞ reports the FCCPC disclosed this development Thursday, September 11, 2025, in its updated data on consumer complaints received and resolved across key sectors of the Nigerian economy.

The Commission said the release of the statistics on sector-specific consumer complaints was in accordance with its mandate under Sections 17(a), 17(j) of the FCCPA 2018.

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The mandate empowers the market regulator to enforce consumer protection laws, and make information on its functions available to the public.

FCCPC also said the data, covering cases lodged with the Commission between March and August, 2025, were compiled from its complaint resolution platforms, provided insight into the patterns and prevalence of consumer dissatisfaction across 30 sectors.

It further stated the 10 top sectors by number of complaints received within the period under consideration were led by banking (3,173 complaints), followed by Fast Moving Consumer Goods (FCMG) (1,543), FinTech (1,442), and electricity (458).

The Commission also highlighted other notable sectors to include e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), Information Technology (131), and road transport and logistics (114).

The FCCPC said the data covered consumer grievances ranged from unfair charges, service failure, unauthorised deductions, deceptive marketing, poor disclosure of terms, product defects, and failure to provide redress within acceptable timelines.

READ ALSO: FCCPC Recovers N10bn For Aggrieved Consumers As Banking, FinTechs Record Highest Complaints in Economy

According to the Commission, the total number of complaints resolved during the reporting period was 9091, while total recoveries for consumers exceeded N10 billion (Ten Billion Naira), reflecting both the scale of harm experienced and the significant financial burden borne by consumers in the absence of effective redress.

Bello: Banking is dominant source of consumer complaints in Nigeria

Speaking on the

Mr. Tunji Bello, Executive Vice-Chairman/Chief Executive Officer (EVC/CEO) of FCCPC, said: “These numbers are not just statistics; they tell the story of consumer frustration, and the daily challenges Nigerians face in essential services.

“However, the FCCPC is determined to hold businesses accountable, ensure compliance with the FCCPA, and promote fair market practices that protect the welfare of all consumers.â€

Mr. Ondaje Ijagwu, Director of Corporate Affairs at FCCPC, Thursday noted the market regulator emphasised that banking remains the dominant source of consumer complaints, both in volume and financial exposure.

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NITDA Invites Stakeholders To Public Hearing On New DPI, NGDX Regulatory Instruments

The Commission highlighted the recurring issues in loan deductions, account charges, and transaction disputes, and reflecting public reliance on the FCCPC to intervene in systemic financial service challenges.

Banking and Financial Technology (FinTech) dominate by financial impact.

It stated the development showed consumer vulnerability where services are both essential and high value, signalling an urgent need for stronger joint regulation with the Central Bank of Nigeria (CBN).

With 458 reported complaints, the electricity sector ranks 4th overall, behind banking, financial services, and FCMG, highlighting persistent billing disputes, service delivery failures, and the need for stronger coordination between the FCCPC, NERC, state electricity regulatory agencies and electricity distribution companies (DisCos).

E-commerce disputes are relatively low-value, but high-frequency, signalling broad consumer exposure at the retail level.

While average monetary losses per complaint are low, the volume and recurrence of disputes (deliveries, refunds, counterfeit goods) reveal e-commerce as a growing consumer pain point.

Interestingly, report of the high incidence of disputes linked to digital lending, investment schemes, and microfinance services coincides with the unveiling of a new regulation by FCCPC to curb abuses in the digital lending sector.

The Commission is intensifying monitoring, enforcement, and collaboration with sector regulators to address these concerns.

Focus is on financial and utility services, where recurring patterns of consumer exploitation require corrective action, it said.

Ijagwu stated the Commission encouraged regulated entities to study these data trends and strengthen internal mechanisms for handling consumer complaints, ensuring that issues are addressed promptly and equitably.

The FCCPC restated that consumers “are encouraged to continue reporting violations through the FCCPC complaint portal: complaints.fccpc,gov.ng, or FCCPC zonal and state offices.

“Every report assists the Commission in identifying systemic issues and enforcing compliance.”

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NITDA invites stakeholders to public hearing on new DPI, NGDX regulatory instruments /45123?utm_source=rss&utm_medium=rss&utm_campaign=nitda-invites-stakeholders-to-public-hearing-of-new-dpi-ngdx-regulatory-instruments Thu, 11 Sep 2025 20:56:53 +0000 /?p=45123 *The National Information Technology Development Agency announces a public review for Draft Digital Public Infrastructure Live Events and the Draft Technical Standard for the Nigerian…

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*The National Information Technology Development Agency announces a public review for Draft Digital Public Infrastructure Live Events and the Draft Technical Standard for the Nigerian Data Exchange to co-create regulatory instruments for inclusive, and sustainable digital transformation of the country’s economy

Gbenga Kayode | ÂÌñÏׯÞ

As part of efforts aimed at co-creating regulatory instruments for inclusive, and sustainable Nigeria digital transformation, the National Information Technology Development Agency (NITDA) has announced a public review session for the Draft Digital Public Infrastructure (DPI) Live Events and the Draft Technical Standard for the Nigerian Data Exchange (NGDX).

ÂÌñÏ×ÆÞ reports NITDA Thursday, September 11, 2025, disclosed the review session is scheduled to hold Thursday, September 18 at the Digital Economy Complex, NCC Building, Mbora, Abuja, by 9:00 a.m.

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The Information Technology (IT) sector regulatory agency also noted the measure forms part of NITDA’s Rule-Making Process (RMP) designed to co-create regulatory instruments that are trusted, inclusive, and sustainable, while aligning Nigeria’s digital transformation with global best practices.

Mrs. Hadiza Umar, Director of Corporate Communications and Media Relations at NITDA, also explained the Draft DPI Live Events has been developed to support the seamless deployment of national digital public infrastructure.

It is noted the Draft DPI Live Events will strengthen e-Government service delivery, and create a framework that fosters collaboration across the private sector of the Nigerian economy.

Mrs. Umar said besides the Draft DPI Live Events, the Draft Technical Standard for the Nigerian Data Exchange (NGDX) also seeks to provide a unified, secure framework for data sharing across the Nigerian Government institutions and private sector entities.

The regulatory instrument is formulated to streamline service delivery, reduce inefficiencies, and drive innovation across key sectors including finance, healthcare, education, and agriculture, the agency stated.

Developed with strong safeguards around data protection, authentication, and privacy, NITDA noted the NGDX aligns with globally accepted standards, and positions Nigeria as a leader in Digital Public Infrastructure across the African continent.

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The Director of Corporate Communications and Media Relations further said the public review of the draft instruments would provide stakeholders from government, industry, academia, and civil society with the opportunity to examine the draft documents, share feedback, and make recommendations to shape the effective adoption and implementation of the initiatives in the digital ecosystem.

The agency, therefore, urged industry stakeholders to review the drafts ahead of the session via .

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Speaking ahead of the review, Malam Kashifu Inuwa Abdullahi, CCIE, Director-General of NITDA, highlighted the significance of inclusive stakeholder participation.

Inuwa said emphasised that Nigeria’s Digital Public Infrastructure must be co-created with all stakeholders to ensure it embodies resilience, fosters innovation, and builds trust.

The Director-General of NITDA restated the success of the new regulatory initiatives would depend on the active involvement of stakeholders in providing valuable insights to guide implementation and ensure sustainability in the ecosystem.

According to the agency, the Draft DPI and NGDX are integral to the Federal Government’s broader agenda of building a robust digital economy under the Renewed Hope vision of President Bola Ahmed Tinubu.

NITDA further restated that Nigeria is positioning itself to harness the transformative power of digital public infrastructure for inclusive national development.

The agency as well noted this is being attained with the support of international partners, particularly through the European Union’s Global Gateway initiative, and technical collaboration with leading digital economies, such as Finland, Estonia, Germany and France.

The agency, therefore, urged stakeholders to contact send an e-mail via: eGDED@nitda.gov.ng or call 08032015719 and 08023275039 for further enquiries.

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