Business

OPSN Faults Repeated Summons of Private Companies by National Assembly

OPSN members comprise the Manufacturers Association of Nigeria (MAN), Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture(NACCIMA), Nigeria Employers’ Consultative Association (NECA), Nigeria Association of Small Scale Industrialists(NASS), and Nigeria Association of Small and Medium Enterprises(NASME).

Published

8 months ago

September 5, 2025

OCHEFA

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The Organised Private Sector of Nigeria (OPSN) has expressed deep concerns over incessant invitations, summons by the committee of the National Assembly on the activities of private companies.

The Association of Food, Beverages and Tobacco Employees(AFBTE) and other 25 sectoral employers ’ associations also decried this situation.

The concern was conveyed through an open letter sent to the President of the Federal Republic of Nigeria, Bola Tinubu, which was published on Thursday, September 4, 2025.

The group said that the practice has continued unhindered despite judicial pronouncements, including a pending appeal before the Supreme Court, which affirms that the powers conferred on the National Assembly in line with sections 88 and 89 of the 1999 Constitution do not extend oversight powers to private companies.

They cite judicial precedents in the case of DHL International Nigeria Limited vs Senate of the Federal Republic of Nigeria and ORS (FHC/ABJ/CS/261/2018).

The court unequivocally held that private companies do not fall within the category of persons contemplated by sections 88 and 89 of the 1999 Constitution.

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Business

FG Launches Energise Commercialisation Now (ECoN) To Boost Industrial Productivity

The Minister of Innovation, Science and Technology, Dr. Kingsley Tochukwu-Udeh, described ECoN as a national framework designed to bridge the gap between research and the marketplace.

Published

11 minutes ago

April 24, 2026

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• Kano ECoN launch by First Lady, Senator Oluremi Tinubu, Thursday 23,2026.

The federal government has launched the Energise Commercialisation Now (ECoN) an initiative of the Ministry of Innovation, Science and Technology.

Nigeria’s First Lady, Senator Oluremi Tinubu, launched the programme in Kano, yesterday, and calling for a shift from ideas to industrial productivity.

The First Lady said that Nigeria must move beyond generating ideas to building industries that create jobs and drive economic growth.

She noted that although innovative concepts continue to emerge from universities, technology hubs and young entrepreneurs, many do not translate into real-world solutions.

“This initiative represents a decisive effort to close that gap by creating an environment where ideas can grow, attract support and scale into real solutions,” she said.

The Minister of Innovation, Science and Technology, Dr. Kingsley Tochukwu-Udeh, described ECoN as a national framework designed to bridge the gap between research and the marketplace.

He said that the initiative aims to transform research outputs into revenue-generating ventures while promoting inclusive economic growth.

Business

Government Can’t Run Business Effectively – Dele Oye

We all know the failed history of government being involved in business. Ajaokuta… they have blown $8 billion and have not produced one steel; they blew $3 billion on refineries rehabilitation… and nothing happened. We are not having any fuel from them

Published

2 days ago

April 22, 2026

OCHEFA

39 Views

Barr Dele Oye, the former president of NACCIMA, at the Vanguard Economic Discourse 2026 edition in Lagos on Wednesday, advised the federal government to limit its role to policy support and facilitation rather than involvement in commercial business activities.

Oye, now the Chairman of Alliance for Economic Research and Ethics (AERE) , cited past failures such as the Ajaokuta Steel Company and refineries rehabilitation projects.

He said: ” We all know the failed history of government being involved in business. Ajaokuta… they have blown $8 billion and have not produced one steel; they blew $3 billion on refineries rehabilitation… and nothing happened. We are not having any fuel from them.”

Oye maintained that government lacks the capacity to run businesses effectively.

” You have no track record in running any business… you cannot be government and also be private sector,” he said.

Business

John Ternus is Apple’s incoming CEO

John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.

Published

3 days ago

April 21, 2026

OCHEFA

61 Views

• John Ternus / CNBC / Getty Images

Tim Cook’s 15-year tenure as Apple CEO comes to an end on Sept. 1, the company announced on Monday.

John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.

CNBC reports that as Cook exits, Apple faces numerous challenges, including an intricate supply chain that’s complicated by geopolitical tensions and soaring prices for memory due to unprecedented demand from the AI buildout.

But for Ternus, perhaps the most critical aspect of his new job will be pushing the company deeper into AI, where it’s lagged many of its megacap peers.

It said that so far, Apple’s AI strategy has involved avoiding hefty capital expenditures while Microsoft, Google, Amazon and Meta commit to hundreds of billions of dollars a year in combined capex to fund new data centers and fill them with pricey AI chips.