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
Data Centers Attract $270bn Investments in 2025 — Unctad
France, the United States and the Republic of Korea led as host countries, while emerging markets such as Brazil, India, Thailand and Malaysia also attracted major projects.
Image credit : Unctad
UN Trade and Development has reported that out of $1.6 trillion global foreign direct investment (FDI) in 2025, data centres attracted more than one fifth of global greenfield projects, with announced investment exceeding $270 billion.
In the report published this week on its website, Unctad, said that the demand for data centers investment was driven by AI infrastructure and digital networks.
The report reads:
” France, the United States and the Republic of Korea led as host countries, while emerging markets such as Brazil, India, Thailand and Malaysia also attracted major projects.
Similarly, the value of newly announced semiconductor projects rose by 35%.
By contrast, project numbers fell sharply by 25% in tariff-exposed, global value chain-intensive sectors.
Textiles, electronics and machinery were particularly affected.
While investment in technology-driven, capital-intensive projects lifts overall FDI figures, flows remain highly concentrated and generate limited spillovers.
Policies should aim to link digital infrastructure investment more closely to skills development, innovation systems and local value creation.
Seplat Energy Plc has appointed Tony O. Elumelu, the renowned Nigerian businessman and chairman of Heirs Holdings and United Bank for Africa (UBA), as a Non-Executive Director on its board with effect from January 22, 2026.
The appointment comes shortly after Elumelu’s investment entities, Heirs Holdings Limited and Heirs Energies Limited, acquired a 20.07% stake in Seplat Energy from French oil company Maurel & Prom (M&P) in a December 2025 transaction valued at approximately $500 million.
The deal positioned Heirs as the company’s largest single shareholder.In a related board change, Seplat announced the resignation of Mr. Olivier Cleret De Langavant, who had represented M&P as a Non-Executive Director since January 2020.
Both the appointment and resignation were disclosed in a filing to the Nigerian Exchange Limited.
Elumelu brings deep expertise in energy, banking, power generation, and pan-African investments.
His entry to the board is widely seen as a strategic move to support Seplat’s long-term growth ambitions and further strengthen indigenous participation in Nigeria’s upstream oil and gas industry.
The leadership transition underscores Seplat Energy’s evolving ownership structure and its continued focus on operational excellence and value creation in Africa’s energy sector.
The Economic and Financial Crimes Commission (EFCC) has called on Moniepoint, a prominent Nigerian fintech platform, to improve its regulatory compliance standards and reinforce its Know Your Customer (KYC) procedures.
EFCC Chairman Ola Olukoyede made the appeal during a recent meeting with Moniepoint’s leadership team. He highlighted the vital role that strong KYC processes play in detecting and preventing fraud, money laundering, and other illicit financial activities, while protecting the overall integrity of the financial system.
The chairman reportedly stressed that full adherence to existing regulations is mandatory for all fintech operators. He encouraged Moniepoint to exceed the baseline requirements set by the Central Bank of Nigeria (CBN) by putting in place more rigorous internal controls and enhanced due diligence measures to ensure only legitimate customers access its services.
This directive is part of wider regulatory attention on Nigeria’s fintech industry. It follows previous enforcement actions, including the CBN’s imposition of ₦1 billion fines on Moniepoint and several other digital payment providers in 2024 for identified compliance gaps.
Those incidents also led to temporary restrictions on new customer onboarding for some platforms.
In response, Moniepoint has stated its commitment to further strengthening internal controls and upholding the highest standards of compliance in order to deliver secure and transparent financial services to its users.
The EFCC’s position reflects the Nigerian authorities’ continued efforts to tighten supervision of digital financial platforms amid growing concerns over financial crime and illicit flows in the sector.
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