Business
MAN Is Wooing Tinubu On Anti- Manufacturing Policies
The Manufacturers Association of Nigeria has requested President Bola Ahmed Tinubu, to look into the fiscal and monetary policies of the government that are hindering industrial growth.
The Association also applauded President Tinubu for the swift stoppage of the fuel subsidy, and said ,” It is an unmistakable indication of a far-sighted strategic choice.”
MAN, in its reaction to PresidentTinubu’s inauguration speech, said, ” Change in administration is usually greeted with expectations and as an advocacy group, we surely look forward to a number of policy changes and decisions.”
Segun Ajayi- Kadir, the Director- General of the Association, noted that the manufacturers are eager to see President Tinubu matches his words with actions regarding.
Tinubu had in his inuauguration speech promises ” industrial policies that will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.”
Segun Ajayi- Kadir, listed some of the policies of the previous goverments needing overhauls, to include the followings :
* A marching order, so to say, is needed to move the Central Bank towards a unified exchange rate.
* A reversal of the unwarranted violation of the government’s three-year excise escalation roadmap on alcoholic beverages and tobacco.
- Direct the NERC to admit all qualified applicant companies into the Eligible Customer Scheme in order to allow them access to power as stipulated in the Electric Power Sector Reform Act 2005.
- Direct all relevant agencies of government to ensure that the electronic call-up system at ports aimed at redressing the congestion works without fail.
- Revisit the Finance Bill 2022 to ensure it includes the critical inputs of the organized private sector. In particular, the jettisoning of the highly objectionable removal of the 10% investment allowance on the acquisition of plants & machinery (in the Company Income Tax Act, section 32). Additionally, to ensure that the imposition of the 0.5% levy on eligible imports from third countries is limited to goods that we have the capacity to produce locally and quite importantly, exclude raw materials that are not locally available.
- The input of the Organised Private Sector on the CEMA bill should also be taken on board before the amendment bill is signed into law.
*Announce a special policy initiative to address the revival of closed and distressed industries, particularly in the northeast where 60% of our member companies have closed.
*Craft and announce a special policy initiative to leverage diaspora expertise and investment to address evident gaps and help to boost the performance of the economy.
- Direct all ministries, departments, and agencies of government to unfailingly comply with Executive Order 003 on the patronage of made-in-Nigeria products.
In this regard, there should be strict application of the margin of preference, effective monitoring and periodic evaluation of compliance, and appropriate sanctions meted out to MDAs acting in breach of the executive order. - Announce a special policy initiative to derisk manufacturing and release adequate funding for the sector through effective funding of special lending windows.
Business
Zenith Bank Opens Côte d’Ivoire subsidiary tomorrow
Group Managing Director, Dame Dr Adaora Umeoji, said the expansion reflects the vision of the bank’s Founder and Chairman, Jim Ovia, to build a global brand with a strong presence across Africa and key international markets.
• Zenith Bank GMD, Dame Dr Adaora Umeoji
An official opening ceremony of Zenith Bank Plc Côte d’Ivoire is scheduled for Wednesday, April 29, 2026, and is expected to draw senior government officials and regulators from Nigeria and , as well as business leaders and members of the diplomatic community.
The subsidiary will be led by Managing Director and Chief Executive Officer, Cédric Tano, who said the bank’s entry into Côte d’Ivoire comes at a time of strong economic growth and increasing regional integration, adding that it aims to combine global best practices with local market insight to support businesses, facilitate cross-border trade and contribute to economic growth in Côte d’Ivoire and the wider WAEMU region.
In a statement, the bank said that the subsidiary was licensed in December 2025 by the Ministry of Finance and Budget of the Republic of Côte d’Ivoire and regulated by the UMOA Banking Commission, will operate from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan.
The bank said that the new subsidiary is positioned to support cross-border trade and investment, with a focus on corporate banking, trade finance, local and offshore banking services, and structured financial solutions for businesses operating across Africa and internationally.
Group Managing Director, Dame Dr Adaora Umeoji, said the expansion reflects the vision of the bank’s Founder and Chairman, Jim Ovia, to build a global brand with a strong presence across Africa and key international markets.
Business
NACCIMA Set Up Export Express Support Center To Boost Non-oil Exports Trade
Chairman of the NACCIMA Export Group, Kola Awe, said that the initiative was driven by the need to improve export performance, noting that only a small fraction of registered exporters accounts for a significant share of the country’s export value.
NACCIMA has established an Export Express Support Centre as a practical intervention to simplify export processes and provide direct support to businesses.
At the event, Polaris Bank Plc donated equipment to support the take-off of the centre, a move stakeholders described as critical to building the infrastructure needed for export development.
Chairman of the NACCIMA Export Group, Kola Awe, said that the initiative was driven by the need to improve export performance, noting that only a small fraction of registered exporters accounts for a significant share of the country’s export value.
“The centre is built on knowledge, training, innovation and support. We are not charging anybody for knowledge. It is a platform for exporters to get the information and assistance they need,” said Awe.
Awe explained that the centre would go beyond advisory by offering hands-on support to resolve issues related to logistics, documentation, procurement and regulatory compliance.
NACCIMA National President, Dr Jani Ibrahim,added that the centre was designed as a one-stop hub to guide exporters and strengthen their capacity to compete in regional and global markets.
“It will serve as a one-stop hub providing guidance, tools and technical support to exporters, helping them navigate documentation, meet standards and access new markets with confidence.
“It will serve as a one-stop hub providing guidance, tools and technical support to exporters, helping them navigate documentation, meet standards and access new markets with confidence,” he said.
Business
Presidency replies Emir Sanusi on “Why are we still borrowing and borrowing?”
Bwala wrote on X, “Your Royal Highness, we are simply borrowing to invest in the critical sectors of our economy, the chiefest of which is INFRASTRUCTURE.
The infrastructure deficit requires a yearly investment of at least $30B-100B, and what we have is insufficient, hence the borrowing “
•Emir of Kano, Muhammadu Sanusi II
The Special Adviser to the President on Policy Communication, Daniel Bwala, on Friday, responded to a question asked by the Emir of Kano, Muhammadu Sanusi II, about a fresh $516 million foreign loan President Bola Tinubu was seeking the Senate ‘s approval to borrow.
Emir Sanusi’s remarks come amid reports that the Federal Government has increased its 2026 borrowing plan by ₦11.31 trillion, pushing total projected borrowing to ₦29.20 trillion.
Speaking during an interview published by News Central TV on Friday, the former Governor of the Central Bank of Nigeria, said : ” We’ve removed the subsidy. We’re now spending it. .. If you’re not paying the subsidy and you’ve got the money, why are we still borrowing and borrowing? What are we borrowing for?”
In response, the presidency stated that the Tinubu administration is borrowing to invest in the critical sectors of the economy, especially infrastructure.
Bwala wrote on X, “Your Royal Highness, we are simply borrowing to invest in the critical sectors of our economy, the chiefest of which is INFRASTRUCTURE. The infrastructure deficit requires a yearly investment of at least $30B-100B, and what we have is insufficient, hence the borrowing “
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