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DisCos Install 225,631 Meters in Q2 2025 — NERC Report Shows 20.6% Growth

  • dollaers
  • October 8, 2025
  • Finance
  • 0 comments

Nigeria’s electricity distribution companies (DisCos) installed 225,631 new meters in the second quarter of 2025, representing a 20.55% increase from the 187,161 meters deployed in the first quarter, according to the Nigerian Electricity Regulatory Commission (NERC).

The data, contained in NERC’s Q2 2025 Quarterly Report, highlights steady progress in the country’s ongoing metering drive under multiple frameworks.

Breakdown of Meter Installations

Out of the total meters installed, 147,823 units (65.5%) were deployed under the Meter Asset Provider (MAP) framework, while 65,315 meters came through the Meter Acquisition Fund (MAF). Another 12,259 meters were installed via the Vendor Financed scheme, and 234 meters under the DisCo Financed model.

Despite the improvement, NERC noted that as of June 2025, only 6.42 million of the 11.82 million registered electricity customers in the Nigerian Electricity Supply Industry (NESI) had functional meters — translating to a 54.33% metering rate. This means nearly half of Nigerian electricity consumers remain unmetered, relying on estimated billing.

To protect unmetered consumers, the regulator said it continues to enforce the monthly energy cap policy, which limits how much electricity distribution companies can bill customers without meters.

“This policy ensures that unmetered customers are not billed beyond the maximum energy consumption on their feeder,” NERC stated.

Decline in Customer Complaints, But Resolution Rates Lag

NERC’s report also revealed that DisCos recorded 227,267 complaints in Q2 2025 — a 10.67% decrease from the 254,404 logged in Q1. Most of the complaints were related to billing, metering, and power supply interruptions, consistent with historical patterns.

At the regulator’s Central Complaint Unit (CCU), only 1,129 out of 2,474 complaints were resolved, reflecting a 45.6% resolution rate, which NERC described as below standard.

The report further showed that two forum offices were closed during the quarter, reducing the number of active complaint forums from 26 to 24. Meanwhile, 1,418 appeals were active across the remaining offices, with 958 resolved, representing a 67.6% resolution rate, down from 74.1% in Q1 2025.

NERC’s Crackdown on Billing Violations

Earlier in April 2025, NERC fined eight DisCos — including Ikeja Electric, Eko Disco, Abuja Disco, Enugu Disco, Jos Disco, Kaduna Electric, Kano Disco, and Yola Disco — for breaching the energy cap regulation on estimated billing.

The penalties totaled ₦628 million, with the regulator also directing each company to issue credit adjustments to all affected customers.

The sanctions sparked mixed reactions among consumers and industry stakeholders. While many applauded NERC’s stance on consumer protection, others expressed concern that fines alone may not fix systemic challenges in billing transparency and metering rollout.

Metering Gap Still a Challenge

Although the Q2 2025 data reflects progress, Nigeria’s metering gap remains a key obstacle to efficient power sector reform. NERC has emphasized that increased investment in metering and stricter regulatory enforcement are crucial to eliminating estimated billing and restoring consumer trust in the electricity market.

Nigeria, Delta State, and Orteva Launch $100 Million Carbon Project to Boost Green Growth

  • dollaers
  • October 8, 2025
  • Business
  • 0 comments

The Federal Government of Nigeria has partnered with Orteva, Delta State, and Eighth Versa to roll out a $100 million carbon development initiative aimed at accelerating the country’s transition to a sustainable, low-carbon economy.

The project, announced on Tuesday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, marks a significant milestone in Nigeria’s effort to integrate climate finance into its broader economic reform strategy.

According to a statement released by the Federal Ministry of Finance, the collaboration seeks to unlock climate-related investments, generate high-integrity carbon credits, and drive environmental conservation while creating new economic opportunities for Nigerians.

Driving Nigeria’s Energy Transition and Green Economy

Minister Edun hailed the project as a “timely intervention” that supports President Bola Ahmed Tinubu’s vision for green growth and inclusive economic transformation.

He explained that large-scale climate-focused projects like this are essential to Nigeria’s Energy Transition Plan (ETP), which aims to diversify revenue sources, reduce dependency on fossil fuels, and strengthen foreign exchange earnings through the carbon economy.

“With components spanning mangrove conservation, biochar production, and renewable energy, the Orteva Carbon Project is projected to generate between $350 million and $2.8 billion in carbon credit revenue,” Edun stated. “This positions Nigeria to become one of Africa’s key players in the global carbon trading market.”

FG Reaffirms Commitment to Climate Finance and Transparency

The Federal Government has reiterated its resolve to establish a transparent, well-regulated carbon market anchored on robust governance and clear pricing frameworks.

“The Federal Government is committed to building a transparent carbon market with strong governance and predictable pricing mechanisms,” Edun emphasized. “For the private sector, this project represents a pathway to invest in climate solutions that protect the planet and deliver long-term financial value.”

He added that the government would provide the necessary policy, fiscal, and credit-enhancement frameworks to ensure that both local and international investors can participate in a secure, profitable, and well-governed carbon market.

The Finance Ministry described the Orteva initiative as a symbol of Nigeria’s new economic frontier — one where sustainability and profitability align to power national development.

Expanding Nigeria’s Carbon Market Potential

Nigeria has intensified its efforts to position itself as a continental leader in climate finance and carbon trading. In April 2025, President Tinubu announced the Carbon Market Activation Policy, a national framework expected to unlock up to $2.5 billion in verified carbon credits and green investments by 2030.

The policy, unveiled during a high-level UN climate dialogue co-hosted by UN Secretary-General António Guterres and Brazilian President Luiz Inácio Lula da Silva, forms part of Nigeria’s broader commitment to updating its Nationally Determined Contributions (NDCs) under the Paris Agreement.

Path to a Sustainable Economic Future

The Orteva Carbon Project reflects Nigeria’s shift toward an economy driven by innovation, sustainability, and global climate partnerships. Beyond environmental benefits, the project is expected to create thousands of green jobs, strengthen rural economies, and attract climate-focused investors seeking credible carbon assets from Africa.

By combining government policy, private-sector expertise, and regional collaboration, the initiative sets the foundation for what Edun described as “a future where climate action and economic growth move hand in hand.”

Gold Breaks $4,000 Barrier for the First Time as U.S. Shutdown Fears Ignite Global Rush to Safety

  • dollaers
  • October 8, 2025
  • Finance
  • 0 comments

Gold prices have surged to an unprecedented level, surpassing $4,000 per ounce for the first time in history, as investors scramble for safety amid deepening concerns over the U.S. government shutdown and the broader economic outlook.

The record-breaking rally underscores gold’s enduring reputation as the ultimate haven asset, marking a dramatic rise from below $2,000 just two years ago. With gains of over 50% in 2025 alone, the precious metal has far outpaced global equities and become one of the best-performing assets of the century.

Investor Anxiety Fuels the Rally

The latest spike in gold prices reflects a growing unease about Washington’s budget gridlock, renewed fears over U.S. fiscal health, and doubts about the Federal Reserve’s independence. The combination has rattled markets and pushed investors toward assets that promise stability when confidence in government and policy falters.

Financial analysts say the rally is part of a broader reallocation trend — investors shifting from overvalued technology stocks into tangible stores of value like gold. “Gold crossing $4,000 isn’t just a panic move — it’s a strategic rotation,” explained Charu Chanana, a strategist at Saxo Capital Markets. “With rate cuts approaching and real yields softening, gold is back at the center of global portfolios.”

Central Banks and ETFs Driving Demand

Another major factor behind the surge is aggressive buying by central banks, which have been increasing their gold reserves to reduce reliance on the U.S. dollar. The trend, already visible over the past two years, accelerated in 2025 as global geopolitical tensions deepened.

At the same time, retail investors and institutional funds have piled into gold-backed exchange-traded funds (ETFs). September recorded the largest monthly ETF inflows in more than three years, signaling renewed appetite for physical assets over paper-based investments.

Spot gold climbed as high as $4,026.69 an ounce on Wednesday afternoon in Singapore, before settling slightly lower at $4,025.86.

History Repeats in Times of Crisis

The latest milestone continues a long pattern of gold surging during times of global stress. The metal first broke $1,000 following the 2008 financial crisis, $2,000 during the 2020 pandemic, and $3,000 amid trade tensions and tariff disputes in 2022. Now, amid the 2025 U.S. government shutdown, it has reached $4,000, symbolizing yet another chapter in the metal’s crisis-driven trajectory.

The current rally, however, may be more complex than those before it. It’s fueled not only by fear, but also by structural shifts in global finance — including the weakening U.S. dollar, slowing economic growth, and the rise of emerging-market central banks diversifying away from traditional reserve currencies.

Fed Uncertainty and Political Pressure

Adding to market volatility is a wave of political pressure on the U.S. Federal Reserve. President Donald Trump’s latest criticism of the central bank, including reported threats toward Chair Jerome Powell and moves to replace Governor Lisa Cook, have raised questions about the Fed’s autonomy.

If the Fed becomes more compliant to political influence and cuts rates aggressively, analysts say it could trigger higher inflation — a scenario that would further support gold prices. “This is the perfect storm for bullion,” said one market analyst. “A weaker dollar, lower real yields, and political uncertainty are all colliding at once.”

The Outlook: Can Gold Go Higher?

With the Fed now easing monetary policy and bond yields trending lower, most traders expect the momentum to continue in the short term. However, some warn that the pace of the rally may invite profit-taking if geopolitical tensions ease or U.S. lawmakers reach a funding agreement soon.

Still, for many long-term investors, gold’s record run is a reminder of its timeless role as a safeguard against instability. As one trader put it, “Every financial era has its moment of reckoning — and when trust in institutions wavers, gold always shines the brightest.”

TenTrade Gathers Africa’s Top Market Leaders to Shape the Continent’s Financial Future

  • dollaers
  • October 7, 2025
  • Uncategorized
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TenTrade is set to redefine Africa’s trading landscape as it hosts the TenTrade Africa Partner Conference 2025 — a high-level event designed to empower traders, partners, and financial professionals with actionable strategies for sustainable wealth creation.

Scheduled for October 11th, the summit will bring together some of the continent’s most successful partners, industry experts, and market strategists to exchange insights on scaling partnership revenues, mastering modern trading systems, and unlocking growth opportunities in Africa’s evolving economy.

Building a Roadmap for Wealth and Financial Mastery

At the core of the conference is one mission: to provide the blueprint for long-term financial growth. In an environment where every Naira counts and market conditions are shifting rapidly, access to the right trading tools and proven strategies can make all the difference.

Participants will gain firsthand exposure to strategies for maximizing partnership income, optimizing MetaTrader 5 performance, and leveraging TenTrade’s advanced global infrastructure to boost market credibility. The event is expected to be a launchpad for ambitious professionals seeking to take their trading careers and businesses to the next level.

Key Themes and Learning Opportunities

The TenTrade Africa Partner Conference will cover three major focus areas:

1. Scaling Partnership Revenue
Experts will break down how traders and financial influencers can evolve from traditional affiliate models into Introducing Broker (IB) structures that generate sustainable and recurring revenue streams. Attendees will learn how to build profitable client portfolios while maintaining transparency and trust.

2. Mastering the Financial Markets
Participants will explore real-world trading frameworks used by leading practitioners. From risk management to execution precision, the sessions will demonstrate how to trade more effectively on platforms like MetaTrader 5 while adapting to Africa’s unique market dynamics.

3. Leveraging a Global Brand for Local Success
TenTrade’s technological edge, competitive reward systems, and regulatory compliance are key pillars for its partners. The conference will illustrate how professionals can harness these strengths to expand credibility, attract high-value clients, and scale their operations across borders.

A Gathering of Ambitious Professionals

This is not just another networking event—it’s a strategic hub for financial growth. Attendance is exclusive and focused on professionals already achieving measurable success in their fields. However, the lessons shared will serve as a model for emerging traders and entrepreneurs eager to break into the higher tiers of performance.

For participants, the value lies not only in what they learn but also in who they meet. The event connects ambitious minds—fund managers, financial influencers, and entrepreneurs—with proven systems that transform trading into a wealth-building engine.

TenTrade’s Commitment to Africa’s Financial Empowerment

Behind the summit is TenTrade, a globally recognized multi-asset brokerage offering access to CFDs on Forex, Commodities, Indices, and Cryptocurrencies through the industry-standard MetaTrader 5 platform.

Regulated by the Seychelles Financial Services Authority (FSA), TenTrade has built a strong reputation for providing secure, transparent, and high-performance trading environments. Its two flagship programs—the Partnership Program (featuring CPA, Rebate, and Hybrid models) and the Funded Trader Program—provide professionals with capital, tools, and incentives to scale confidently.

Setting the Stage for Africa’s Next Generation of Wealth Builders

As Africa’s financial landscape continues to mature, TenTrade’s initiative represents more than just a conference—it’s a movement to equip professionals with the mindset and methods required to thrive.

For traders, investors, and partners who aspire to lead in the continent’s growing digital economy, this summit is a crucial step toward lasting success.

To learn more or register your interest in joining the TenTrade ecosystem, visit this link.

ChatGPT said: CBN Bans Debtors and Blacklisted BVNs from Operating as PoS Agents Under New Rules

  • dollaers
  • October 7, 2025
  • Uncategorized
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The Central Bank of Nigeria (CBN) has introduced stricter eligibility requirements for Point of Sale (PoS) operators, barring individuals with outstanding debts, blacklisted Bank Verification Numbers (BVNs), or records of financial misconduct from participating in the booming agent banking industry.

The new regulation, part of the revised Guidelines for the Operations of Agent Banking in Nigeria released on October 6, 2025, is designed to strengthen integrity and transparency in the sector — one that has become vital to Nigeria’s financial inclusion efforts but increasingly vulnerable to fraud and operational risks.

Stronger Integrity Standards for Agents

According to the guidelines, individuals or businesses with non-performing loans in any financial institution within the last 12 months will no longer be eligible to register as PoS agents. The CBN explained that all applicants will now undergo credit verification through licensed credit bureaus to prevent defaulters from re-entering the financial system through PoS operations.

The apex bank further stated that anyone whose BVN is on a watchlist, or who has been blacklisted for fraud, dishonesty, or related offences, will also be disqualified. Similarly, individuals convicted of criminal offences or declared bankrupt, as well as companies undergoing insolvency proceedings, will not be permitted to operate as agents.

The policy represents a decisive shift from merely monitoring transactions to assessing the financial character and trustworthiness of those managing last-mile financial services.

New Eligibility Conditions for PoS Operators

For those seeking to become agents, the CBN outlined new minimum qualification standards. Prospective agents must:

  • Demonstrate capability to perform basic services such as deposits, withdrawals, transfers, and bill payments.

  • Submit all mandatory Know Your Customer (KYC) information required by CBN regulations.

  • Obtain necessary licenses or authorisations from relevant authorities.

  • Be at least 18 years old and of sound mind if applying as individuals.

In addition, banks, super agents, and licensed payment service providers (PSPs) — referred to as principals — are now required to conduct comprehensive due diligence before appointing agents. This includes verification of credit history, source of funds, criminal background, business address, and potential conflict of interest.

Cleaning Up a Fast-Growing but Risky Sector

Nigeria’s agent banking industry has witnessed rapid growth, with over 8.3 million registered PoS terminals and 5.9 million active deployments as of March 2025. These agents process billions of naira in transactions monthly, playing a crucial role in extending banking access to rural and underserved communities.

However, the surge in PoS adoption has also been accompanied by rising fraud cases, weak supervision, and misuse of agents’ licenses. The CBN’s new directive seeks to address these concerns by ensuring that only financially sound and credible operators remain in the system.

While the policy aims to protect consumers and maintain trust, it also introduces higher compliance costs for operators. Principals will now need to integrate BVN verification, credit checks, and background screening into their onboarding and monitoring processes.

Broader Reforms in the Agent Banking Space

The updated guidelines form part of a larger reform initiative by the CBN to modernize Nigeria’s payment ecosystem. Other measures include:

  • Mandatory geo-tagging of all PoS terminals, ensuring that devices are traceable to their exact locations.

  • Transaction and settlement limits to reduce systemic risk.

  • Stiffer sanctions for institutions or agents that violate CBN rules.

In August 2025, the CBN directed all PoS operators to geo-tag their devices and align with the global ISO 20022 messaging standard within 60 days. The recent update extends the compliance deadline to April 1, 2026, giving operators more time to implement changes.

However, the central bank warned that non-compliant operators risk penalties, disconnection, or outright suspension once enforcement begins.

What This Means for the Industry

The CBN’s decision underscores its renewed focus on accountability and systemic stability in Nigeria’s growing digital payments space. By filtering out high-risk individuals and enforcing stronger oversight, the bank hopes to curb fraud, strengthen consumer confidence, and ensure sustainable growth in the PoS and agent banking ecosystem.

As the April 2026 compliance deadline approaches, both operators and financial institutions will need to tighten internal controls, upgrade compliance systems, and align with the regulator’s evolving framework to remain active players in Nigeria’s digital finance landscape.

Lagos Teachers Earn Minimum of ₦150,000 Monthly – LASUED Vice-Chancellor Confirms

  • dollaers
  • October 7, 2025
  • Finance
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The Vice-Chancellor of the Lagos State University of Education (LASUED), Professor Bidemi Lafiaji-Okuneye, has disclosed that no teacher in Lagos State earns less than ₦150,000 per month, reaffirming the state government’s commitment to prioritizing teachers’ welfare and motivation.

She made this revelation during an event themed “Recasting Teaching as a Collaborative Profession,” held at LASUED’s Ijanikin campus on Monday to commemorate the 2025 World Teachers’ Day. The event brought together educators, policymakers, and education stakeholders to reflect on the challenges and future of teaching in Nigeria.

Lagos State’s Commitment to Teachers’ Welfare

Professor Lafiaji-Okuneye emphasized that Lagos State has one of the most competitive salary structures for teachers in Nigeria, noting that the government has consistently implemented policies to enhance the dignity and motivation of educators.

“In Lagos State, I can tell you authoritatively that we are building our teachers’ world, and no teacher goes home with less than ₦150,000 in the state. But we can do better,” she stated.

The Vice-Chancellor underscored that fair remuneration remains critical to improving education quality. According to her, when teachers are undervalued, underpaid, and unsupported, it erodes morale, triggers brain drain, and reduces the attractiveness of the profession to talented young people.

The Link Between Teacher Welfare and Quality Education

Speaking further, Professor Lafiaji-Okuneye noted that the quality of education in any society is directly tied to how teachers are treated. She called for continuous reforms to raise the professional and financial status of educators, adding that well-motivated teachers produce better learning outcomes.

“When teachers are motivated, adequately trained, and empowered, they inspire excellence in students and build societies that can compete globally,” she said.

Challenges Facing the Teaching Profession

While celebrating teachers for their selfless service, the LASUED VC also highlighted lingering challenges within the profession. She pointed out that many teachers across Nigeria still face issues such as:

  • Poor working conditions and limited infrastructure.

  • Insufficient access to professional development opportunities.

  • Inadequate recognition from society.

She emphasized that addressing these problems is key to restoring pride in the teaching profession and ensuring long-term sustainability.

Call for Increased Investment in Education Infrastructure

Professor Lafiaji-Okuneye urged the Lagos State Government, in collaboration with TETFund and other education agencies, to allocate at least 20% of the state’s annual education budget toward upgrading classroom infrastructure.

She suggested that this funding should also cover the provision of digital learning tools, and the establishment of modern science and technology laboratories in public schools beginning from the 2026 fiscal year.

“Investment in modern classrooms and technology-driven education is essential for preparing both teachers and students for the future,” she added.

Recent Reforms in Teacher Development

At the federal level, efforts to professionalize and standardize teaching have also intensified. In August 2025, the Federal Ministry of Education launched a digital portal for teachers’ registration, licensing, and certification, managed under the Teachers Registration Council of Nigeria (TRCN).

Additionally, TRCN has streamlined its Professional Qualifying Examination (PQE) from 23 subjects to five key areas — foundational mathematics, literacy, pedagogy, digital literacy, and safeguarding — to make certification more focused and efficient.

According to the Minister of Education, Dr. Tunji Alausa, non-education graduates with at least 12 months of classroom experience can now obtain certification through an abridged NTI programme, designed to formalize and strengthen the nation’s teaching workforce.

Looking Ahead

The LASUED VC concluded her remarks by celebrating the dedication of teachers across Lagos and Nigeria, urging continued reforms and recognition for their critical role in shaping the nation’s future.

Her statement reinforces Lagos State’s reputation as a pacesetter in education reforms and teacher welfare, setting an example for other states to emulate as Nigeria works toward achieving sustainable education development and global competitiveness.

Nigeria Seeks $2 Billion Chinese Loan to Build National “Super Grid” for Reliable Power Supply

  • dollaers
  • October 7, 2025
  • Finance
  • 0 comments

Nigeria is currently in talks with China’s Export-Import Bank to secure a $2 billion loan aimed at financing a new “super grid” project that will transform the nation’s electricity transmission system. The initiative seeks to resolve Nigeria’s persistent power supply challenges and stimulate industrial growth by ensuring more stable and efficient electricity distribution nationwide.

Government’s Power Sector Vision

The Minister of Power, Adebayo Adelabu, announced the plan during an economic summit in Abuja, emphasizing that the new super grid will connect Nigeria’s eastern and western regions — areas that host the country’s largest industrial consumers. The project, he explained, is part of the federal government’s broader agenda to decentralize power generation and encourage industrial users who have disconnected from the unreliable national grid to return.

“This is part of our plan to decentralize power generation in Nigeria and get the heavy commercial users that left the grid due to unreliability to return,” Adelabu stated.

He further revealed that the Federal Executive Council (FEC) has already approved financing for the project, underscoring its priority status within President Bola Tinubu’s economic reform agenda.

Why Nigeria Needs a Super Grid

Nigeria’s fragile power infrastructure has long been a major constraint on economic productivity. Despite an installed generation capacity of about 13 gigawatts, only a fraction—approximately 4 gigawatts—is typically delivered to consumers across a population exceeding 200 million.

For comparison, South Africa, with just a quarter of Nigeria’s population, boasts an installed capacity of around 70 gigawatts. This stark contrast highlights the scale of Nigeria’s power deficit.

The unreliability of the grid has forced many industries and households to generate their own power, often through diesel and gas generators, which account for nearly half of the electricity consumed nationwide. The proposed super grid aims to modernize transmission infrastructure, improve efficiency, and expand power access to industrial clusters.

Boosting Industrial Productivity and Energy Access

Adelabu explained that the new super grid will not only reduce transmission losses but also ensure more power reaches industrial zones, supporting the government’s goal of boosting local manufacturing and reducing operational costs for businesses.

The initiative aligns with President Tinubu’s comprehensive economic reforms, which include:

  • Removing fuel subsidies to free up government revenue.

  • Reforming tax laws to encourage investment.

  • Enhancing oil production through improved security in the Niger Delta.

  • Stabilizing the financial sustainability of the power sector.

Improved Revenue from Tariff Adjustments

According to the Power Minister, recent tariff adjustments for urban consumers have started yielding results, increasing the sector’s revenue by 70% in 2024, with projections suggesting an additional 41% rise to N2.4 trillion ($1.6 billion) in 2025. These adjustments are intended to create a more financially viable electricity market that can attract private investment and support infrastructure upgrades like the super grid.

Nigeria’s Persistent Grid Collapse Problem

Despite multiple reform efforts, grid collapses remain a recurring issue in Nigeria’s power sector. Data from the Nigerian Electricity Regulatory Commission (NERC) shows that the national grid experienced several partial and total collapses in 2024, highlighting the sector’s vulnerability to technical and infrastructural faults.

In March 2024, widespread outages were reported after the national grid went down, plunging several states into darkness. A similar collapse occurred again in September, reinforcing the urgency for significant transmission system upgrades.

What Lies Ahead

The proposed $2 billion super grid project could mark a turning point in Nigeria’s decades-long struggle with unreliable electricity supply. If successfully executed, it is expected to:

  • Enhance power stability across the country.

  • Boost industrial output through reliable energy access.

  • Reduce dependence on self-generation and fossil fuels.

  • Encourage foreign and local investment in the energy sector.

As Nigeria seeks to industrialize and diversify its economy, improved electricity infrastructure remains a critical foundation for sustainable growth. The partnership with China’s Exim Bank—if finalized—could provide the necessary financing and technology to make the long-awaited transformation of Nigeria’s power sector a reality.

Africa Must Invest in AI to Protect Its Digital Future – Abasiama Idaresit

  • dollaers
  • October 7, 2025
  • Finance
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The global artificial intelligence (AI) industry is projected to reach $4.8 trillion by 2033, according to the United Nations — a figure surpassing the combined GDP of all 54 African countries. With over $650 billion invested in AI in the past decade, the world’s fourth industrial revolution is accelerating rapidly.

Yet, as the digital divide widens, Africa risks being left behind. Technology entrepreneur Abasiama Idaresit, CEO of Wild Fusion Holdings, warns that without strategic investment in AI and data infrastructure, the continent could lose control of its digital sovereignty — and its future.

Africa’s Underinvestment in Data Infrastructure

Despite housing 17% of the world’s population, Africa accounts for just 1% of global digital infrastructure. This imbalance, Idaresit argues, leaves the continent vulnerable to digital colonization, biased algorithms, and economic dependency on external powers.

“Without consistent investment in data and AI systems, Africa will depend on others for the technology that shapes its destiny,” he explained. “That dependency will widen the poverty gap and drain economic value from the continent.”

AI, he noted, will soon power nearly every aspect of society — from healthcare and education to defence, agriculture, and creative industries. To secure its place in this future, Africa must invest now.

Turning Data into an Economic Asset

Idaresit urged African policymakers to treat data as the new oil — a resource that must be harnessed, not exported raw. Comparing data extraction to the export of unprocessed commodities, he warned that Africa could repeat the same historical mistakes if it doesn’t build capacity to refine and use its own data.

He emphasized that huge opportunities exist in the early stages of the AI value chain — particularly in data sourcing, labeling, cleaning, and preparation. These stages, often overlooked, are crucial for training accurate AI models and can generate billions in value.

“Data labeling alone is a $22.46 billion industry, growing at over 20% annually,” he said. “With Africa’s youthful population and competitive labor costs, we can capture a significant share of this market while ensuring diverse, representative datasets.”

African firms such as Lelapa and Sama already provide data annotation services for global AI companies — proof, he said, that the opportunity is real and scalable.

Building Digital Sovereignty and Inclusive AI

At the heart of Idaresit’s advocacy is digital sovereignty — the ability for nations to control their own data, protect intellectual property, and shape technologies that reflect their values.

“The core of AI is data accuracy,” he explained. “African companies that build precise and representative datasets are not just service providers; they are defenders of our technological independence.”

Speaking recently at a UN-backed AI for Developing Countries Conference in Vienna, Idaresit reiterated that Africa must define its digital destiny. “We missed the first three industrial revolutions. We cannot afford to miss the fourth,” he said.

A Call to Action for Policymakers and Investors

Across the continent, progress is emerging. The African Union has launched a continental AI strategy, and countries such as Nigeria, Kenya, Egypt, and South Africa are developing national AI frameworks.

Still, Idaresit insists that more must be done to attract both local and foreign investment. “Africa can — and must — become part of the global AI value chain,” he urged. “If we remain passive, we’ll face a future shaped by biased technologies that threaten our culture, economy, and identity.”

He concluded with a powerful reminder drawn from African wisdom:

“There is no beauty but the beauty of action.”

About Abasiama Idaresit

Abasiama Idaresit is the CEO of Wild Fusion Holdings, a technology and venture investment group with interests in digital banking, marketing, and training across Nigeria, Ghana, and Kenya. Recognized by the UN-backed MIPAD Top 100 and France’s Choiseul Institute’s Top 200 Under 40 Economic Leaders, he is a prominent advocate for digital inclusion and youth development.

Through his work with LEAP Africa, supported by Mastercard and the Gates Foundation, Idaresit continues to champion innovation, financial inclusion, and technology-driven progress across the continent.

Nigeria’s $6.4 Billion Nollywood Faces Legal Threats Without Stronger IP Protection

  • dollaers
  • October 6, 2025
  • Law
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Nigeria’s Nollywood industry, now worth an estimated $6.4 billion, continues to shine on the global stage with blockbuster releases and partnerships with global studios. But according to Omotayo Inakoju, Head of Legal at EbonyLife Group, the industry’s rapid growth risks collapse without urgent reform to its intellectual property (IP) framework.

In a wide-ranging discussion, Inakoju—who has worked with Netflix, BBC Studios, and Sony Pictures—outlined how piracy, idea theft, and weak contract enforcement remain Nollywood’s biggest unseen enemies.

Weak IP Laws Threaten Creative Growth

Despite Nigeria’s growing creative export power, Inakoju warned that idea theft and uncredited work have become rampant. Many producers, she said, fail to secure adaptation rights or formalize ownership before production.

“Adapting a book without the author’s consent is still infringement, no matter how you change the format,” she explained. “And denying writers or crew proper credit isn’t an oversight—it’s a violation of their legal right.”

Such issues, she added, not only rob creatives of recognition but also discourage investors wary of potential legal battles.

Piracy Still Bleeding the Industry

Digital piracy remains one of Nollywood’s deepest wounds. Inakoju recounted handling a case where a client’s film appeared online without authorization.

“Imagine finding your movie streaming on a website you’ve never heard of. It’s a nightmare,” she said. “Even when the film is taken down, the financial loss and emotional toll are immense.”

Platforms like Telegram and YouTube have become hotbeds for unauthorized uploads, making enforcement difficult and compensation nearly impossible. While Nigeria’s new copyright law allows creators to request takedowns, enforcement remains painfully slow.

Contracts and Legal Literacy Remain Weak Links

Inakoju believes many of Nollywood’s legal issues stem from a lack of legal education among creatives. Few register their businesses with the Corporate Affairs Commission (CAC) or formalize ownership of their work.

“Some writers think CAC registration doesn’t apply to them,” she said. “But it’s the foundation for getting funding or recognition as a legitimate business.”

She also warned filmmakers to avoid signing vague or one-sided contracts that transfer ownership of creative rights without clarity. “Always watch for words like ‘assign’ or ‘transfer’—they can mean you’re giving away your work completely.”

Building Investor Confidence Through Legal Reform

For Nollywood to attract serious investment, Inakoju argued, Nigeria needs stronger investor protections and clearer legal structures. She recommended standardized contract templates, entertainment tribunals for faster dispute resolution, and transparent reporting for film revenues.

“Investors want assurance that their money and rights are protected,” she said. “Structured investment policies would help unlock more capital for filmmakers.”

A Call for Dedicated Entertainment Tribunals

To ensure faster justice, Inakoju proposed the creation of dedicated entertainment tribunals—specialized courts handling film, music, and creative industry cases.

“Delays in litigation kill value,” she explained. “A tribunal would make enforcement faster and cheaper, helping both creatives and investors.”

She also urged the Nigerian government to sign more international IP treaties and create a digital IP registry where creators can easily record ownership and track unauthorized use of their works.

Looking Ahead: A More Structured Nollywood

Despite the challenges, Inakoju is optimistic. She envisions a Nollywood guided by strong institutions and collective regulation rather than informal practices.

“My biggest hope is a structured industry that protects everyone’s rights,” she said. “We’ve relied on general copyright laws for too long. It’s time for film-specific legislation that recognizes the realities of production, streaming, and digital distribution.”

As Nollywood continues to define African storytelling globally, the question is not just how many films it produces—but whether Nigeria’s legal framework can keep pace with its creative ambition.

  • dollaers
  • October 6, 2025
  • Business
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Nigeria’s consumer goods sector has rebounded strongly in the first half of 2025, marking one of its best performances in recent years. After battling inflation, foreign exchange instability, and weak consumer demand in 2024, many of the country’s top consumer goods firms have turned the corner with impressive profitability and operational resilience.

Sector Recovers from Turbulence

The listed consumer goods companies on the Nigerian Exchange (NGX) collectively recorded a sharp rise in profitability between January and June 2025. The turnaround was driven by tariff adjustments, cost optimization, and improved foreign exchange stability, which together boosted margins and restored investor confidence in the sector.

While inflation remains a challenge for most producers, improved pricing power and supply chain efficiencies helped major players achieve robust top-line and bottom-line growth.

BUA Foods Leads the Pack

BUA Foods Plc emerged as Nigeria’s most profitable consumer goods company in H1 2025, posting an exceptional ₦260.07 billion profit after tax (PAT). The company’s dominance reflects its strong market share in sugar, flour, and packaged foods, coupled with economies of scale that shielded it from input cost volatility.

With its vertically integrated operations, BUA Foods continues to benefit from self-sufficiency in raw materials and an expanding export base, consolidating its position as one of Nigeria’s most stable blue-chip manufacturers.

Brewers Return to Profitability

The brewing segment staged one of the most dramatic recoveries in the sector. Nigerian Breweries Plc, which suffered heavy losses in 2024, returned to a ₦88.42 billion profit in H1 2025, thanks to strategic price revisions, cost controls, and the integration of Distell Nigeria.

Similarly, International Breweries Plc delivered strong revenue and profit growth, securing the third spot on the profitability list. Both companies benefited from resilient consumer demand for alcoholic beverages and a revival in on-trade sales during festive periods.

Resilient Mid-Tier Players Show Promise

Beyond the industry giants, mid-sized and smaller firms also delivered encouraging results. Vitafoam Nigeria Plc, Champion Breweries Plc, and Northern Nigeria Flour Mills Plc (NNFM) reported solid earnings growth and improving returns on equity despite operating in niche markets.

These firms have leveraged localized production, efficient distribution, and targeted pricing to protect margins amid intense competition. NNFM, for example, recorded a ₦1.80 billion PAT in H1 2025, nearly doubling its ₦966 million result from the same period in 2024.

With revenue of ₦21.09 billion and a net margin of 9%, NNFM’s financials highlight its ability to convert limited scale into meaningful profitability. The company’s earnings per share (EPS) stood at ₦10.11, and its price-to-earnings (P/E) ratio of 9.26x indicates a relatively undervalued stock compared to its peers.

Winners and Laggards

While the top 10 list is dominated by strong performers, several legacy players are still struggling to regain momentum. Companies such as Dangote Sugar Refinery, PZ Cussons Nigeria, Guinness Nigeria Plc, and Honeywell Flour Mills Plc posted losses during the period.

Analysts attribute their underperformance to high production costs, FX exposure, and weak consumer spending in certain categories. Nevertheless, their ongoing restructuring efforts and investments in backward integration could yield positive outcomes in the second half of the year.

Sector Outlook: Resilience Amid Headwinds

The first half of 2025 has proven that Nigeria’s consumer goods industry remains resilient even in tough economic conditions. The sector’s rebound demonstrates the effectiveness of corporate adaptation strategies — from cost management to product diversification and market repositioning.

With inflation beginning to moderate and the exchange rate showing signs of stability, analysts expect continued improvement in profitability into 2026.

According to market watchers, the sector’s recovery will likely strengthen further if consumer purchasing power improves and the government sustains policy consistency in fiscal and trade management.

Key Takeaway

Nigeria’s consumer goods companies have shown that profitability is achievable even in a challenging macroeconomic environment. BUA Foods, Nigerian Breweries, and International Breweries lead the charge, but emerging players like Vitafoam and NNFM prove that operational efficiency and prudent financial management can deliver strong returns at any scale.

As the sector continues to evolve, investors are likely to keep a close eye on the next earnings cycle — one that could define which firms sustain momentum and which fall behind in Nigeria’s increasingly competitive consumer market.

Below is a glimpse of how the top performers fared and who made the cut.

Sector Recovery: Margin Gains and Select Winners

Several companies leveraged tariff adjustments, improved foreign exchange stability, and operational efficiencies to widen margins and boost bottom lines. Many recovered from deep 2024 losses, while smaller firms like Vitafoam, Champion Breweries, and Northern Nigeria Flour Mills (NNFM) posted sharp earnings gains. Some legacy names, however—Dangote Sugar Refinery, PZ Cussons, Guinness Nigeria, Honeywell Flour Mills—continued to post losses, reflecting uneven recovery.

The Top 10 Profitable Consumer Goods Players in H1 2025

Here are the Top 10 listed consumer goods firms by Profit After Tax (PAT) in H1 2025 (from least to highest):

Rank Company Approx PAT / Remarks
10. Northern Nigeria Flour Mills Plc Recorded ₦1.80 billion PAT (up from ₦966 million in H1 2024), with revenue of ₦21.09 billion. Net margin ~9%.
9. Champion Breweries Plc Strong recovery among the breweries segment, showing improved efficiency and narrowing losses.
8. Vitafoam Nigeria Plc Solid rebound in foam and mattress business, aided by better input sourcing and demand uptick.
7. Cadbury Nigeria Plc Benefited from strong confectionery sales and improved cost control amid volatile raw material pricing.
6. Unilever Nigeria Plc Recovered via stable brand portfolio, price adjustments, and rebalanced product mix.
5. NASCON Allied Industries Plc Gains from seasoning and food business, driven by pricing power and local sourcing.
4. International Breweries Plc Notable return to profitability in the brewing sector, supported by volume recovery and margin expansion.
3. Nestlé Nigeria Plc Strong performance in food and beverage brands, leveraging premium positioning and stable demand.
2. Nigerian Breweries Plc Recovered from 2024 losses to post a strong PAT, aided by Distell integration and cost optimization.
1. BUA Foods Plc Dominated the list with ₦260.07 billion PAT, cementing its leadership in food, sugar, flour, and allied segments.

What This Tells Us

  • Scale and diversification matter: BUA Foods’ dominance reflects strong vertical integration and a broader product mix that buffered it from volatility.

  • Rebound with discipline: Brewers and food firms that survived 2024 did so via pricing, tightening costs, and protecting margins.

  • Room for mid-tier growth: Companies like NNFM and Vitafoam, while smaller in scale, are proving that niche players can deliver solid returns with the right strategy.

  • Continued headwinds for some: Even with sector momentum, some legacy consumer goods names remain under pressure, highlighting that recovery is still uneven.

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