Business
Nigeria pursuing climate-smart practices for food security — Tinubu
President Bola Tinubu on Wednesday reaffirmed his administration’s commitment to implementing climate-smart agricultural practices to bolster food security and reduce environmental impacts.
He said such initiatives stem Nigeria’s recognition of its responsibility to lead a just energy transition and sustainable development in Africa.
Tinubu said this during his address at the ongoing Abu Dhabi Sustainability Week held in the capital city of the United Arab Emirates.
In his 12-minute discourse titled ‘Climate Imperatives into Economic Prosperity, bridging Africa’s Global Energy Future,’ the President emphasised the need for international cooperation to achieve sustainable development and mitigate climate change impacts.
Acknowledging Nigeria’s status as Africa’s most populous nation and one of its largest economies, President Tinubu underscored its responsibility to demonstrate leadership in addressing climate issues.
He posited, “To succeed, we must innovate, collaborate, and decide decisively to collaborate as a global community.
As Africa’s most populous nation and one of its largest economies, Nigeria recognizes its responsibility to demonstrate the required leadership on these matters.
“We have embraced the vision of sustainability and that alliance of global aspiration while addressing the local realities.
Our efforts are anchored on three pillars: energy transition, climate resilience, and sustainable development.
“In my administration, we recognise this problem. From inception, we have recognised the importance of reducing carbon emissions and a just transition to clean and renewable Energy, promoting environmental sustainability and economic growth energy transition.
”Addressing the specifics of Nigeria’s energy transition plan, he stated that Nigeria is employing climate-smart agricultural practices to bolster food security while reducing environmental impacts.
“Nigeria is implementing climate-smart agricultural practices to enhance food security while reducing environmental impacts.
“The government has approved several development policies, such as the national clean cooking gas policy, which aims to promote a clean energy environment and its benefit and socioeconomic development in our region,” said Tinubu.
He opined that adopting modern, eco-friendly agricultural techniques is essential for protecting local communities from the adverse effects of climate change.
Describing these measures as pillars of Nigeria’s sustainable development strategy, he stressed that the country’s path forward involves responsibly reducing carbon emissions while advancing economic growth and ensuring social equity.
Like many nations, he said Nigeria is diversifying its energy sources and reducing its reliance on fossil fuels.
This transition to cleaner alternatives anchors the country’s national development strategy and aligns with a commitment to achieve net-zero emissions by 2060.
Nigeria is developing infrastructure for compressed natural gas and electric vehicles to support these goals. He noted that the government has also invested in responsibly exploring solid minerals and critical metals essential for advancing the green energy transition.
His words, “Dear delegates and excellencies, our energy transition plan, like many nations, is aimed at diversifying energy sources and reducing our dependency on fossil fuel, prioritising the transition to cleaner energy sources as a cornerstone of our national development strategy.
“Nigeria is committed to achieving a net zero emission by 2060 in line with global climate objectives; we are developing the infrastructure to utilise compressed natural gas and electric vehicles.
”He said development policies, such as the National Clean Cooking Gas Policy, are designed to promote clean energy, environmental benefits, and socioeconomic development in the region.
Emphasising inclusivity, he highlighted efforts to ensure policies promote equity and social justice, leaving no one behind.
The President also acknowledged Nigeria’s environmental challenges—including deforestation, desertification, coastal erosion, flooding, pollution, and other harmful consequences of climate change—and cited the shrinking Lake Chad as a stark example.
“Lake Chad continues to shrink every year, and the livelihood of people continues to be threatened. Our government is working with local communities to implement solutions to get these effects and help us build resilience in the face of environmental challenges.
“For resources to promote a green economy in Africa, we must focus on integrating sustainable practices in all sectors of our economy.
“These investments are capital intensive in nature, and they required international support from partner countries, including national organisations, developmental partners, and individuals who shared our vision of a sustainable, prosperous, and equitable future must be included,” said Tinubu.
President Tinubu also noted that Nigeria became the first African country to fund green projects through Sovereign Green Bond issuances—its third issuance is underway—and he invited investors to collaborate further.
He explained, “Nigeria became the first country in Africa to initiate funding for green projects through green bond proceeds, the third issuance of which is currently in progress; we urge investors to partner with us.
“In this regard, our government remains committed to providing an enabling environment for businesses to thrive, and harnessing technology and innovation is key to driving sustainable development.
”The President emphasised that technological innovation is vital for advancing sustainable development, citing Nigeria’s growing adoption of new technologies in clean energy, water conservation, land restoration, waste management, and the circular economy.
“We agree that Nigeria is increasingly embracing new technologies like clean energy, water, conservation, land and forest restoration, waste management, and circular economy.
“We partner with global leaders and are harnessing the power of technology. We are finding new and innovative ways to address our environmental challenges.
“We have arable agricultural lands for advanced technological farming, including the brighter future for artificial intelligence,” the Nigerian leader noted.
Through global partnerships and the strategic use of technology, he said Nigeria seeks innovative ways to address environmental challenges and secure a brighter future, including AI-driven agricultural practices.
On global collaboration, he reminded attendees that environmental challenges are shared worldwide.
Practical solutions, he argued, require collective action grounded in mutual respect and a shared vision of the future.
Nigeria believes sustainable development is not merely a domestic challenge but a global imperative.
Tinubu urged the international community to strengthen cooperation at regional and global levels to meet the Sustainable Development Goals and lessen the impact of climate change.
In closing, President Tinubu reflected on the lasting impression of the children who, on the first day of the event, waved the UAE flag in a call for all to protect the planet for future generations.
He expressed hope that this image would serve as a reminder of the responsibility to build a sustainable world for the children and generations yet to come.
The Nigerian leader also expressed profound gratitude to the President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan, for the invitation to Abu Dhabi Sustainability Week.
The meeting drew world leaders together to collectively exchange views and perspectives on addressing global challenges.
Aside from President Tinubu, other leaders attending the summit are Italian Prime Minister Georgia Melon; President of Rwanda Paul Kagame; Prime Minister of Malaysia Anwar Ibrahim; Prime Minister of New Zealand Christopher Luxon; and Prime Minister of Finland, Petteri Orpo, among others.
Business
Mikano & Changan Named Founding Infrastructure Partners for Lagos Gran Fondo “EKO 170”
The organisers of Nigeria’s premier cycling event, the inaugural Lagos Gran Fondo “EKO 170” are proud to announce Mikano International Limited and Changan as the Official Platinum and Founding Infrastructure Partners.
The landmark 170km mass-participation cycling race is set to take place on January 11, 2026, showcasing Lagos as a global hub for sports tourism, healthy living, and sustainable mobility.
This strategic partnership forms the operational foundation of the event, with Mikano and Changan providing essential in-kind support. This includes official race vehicles from Changan’s range of reliable and innovative automobiles (distributed exclusively in Nigeria through Mikano Motors), power generation solutions from Mikano’s renowned expertise in energy systems, medical services, and comprehensive rider support throughout the challenging route.
The collaboration highlights a shared dedication to safety, excellence, and sustainability, aligning perfectly with the event’s goals and the Lagos State Government’s vision for innovative, world-class initiatives.
Endorsed by the Lagos State Government, the EKO 170 Gran Fondo will start and finish at the iconic Eko Atlantic City, taking riders through Victoria Island, across the Lekki-Ikoyi Link Bridge, along the Lekki–Epe Expressway to Epe, and back — offering participants a unique view of Lagos’s coastal beauty, modern infrastructure, and vibrant energy.
The event is expected to attract over 1,000 cyclists, from elite professionals to enthusiastic amateurs, from Nigeria and internationally.
As the exclusive Power and Infrastructure Partner, Mikano and Changan will receive prominent branding visibility across all event platforms.
A highlight of the partnership includes the introduction of a Mikano Clean Energy Hub at the finish-line festival, demonstrating cutting-edge sustainable power solutions.
With the foundational backing of Mikano International Limited — a leading Nigerian provider of power generation, automotive, and industrial solutions — and Changan — a globally respected automotive brand known for performance, safety, and innovation — the Lagos Gran Fondo “EKO 170” is poised to deliver an unforgettable, world-class cycling experience.
Participant registration remains open at www.eko170.com. Cyclists and supporters are encouraged to join this historic event that celebrates Lagos’s resilience and forward-thinking spirit.
Media Contact: Sabatha Joshua Media Relations, Lagos Gran Fondo “EKO 170”.
This partnership marks a significant milestone in elevating Lagos on the global stage through sports, infrastructure excellence, and community-focused innovation.
Business
CBN’s N500bn capital base: 14 banks to close operations or merge
Checks by our Reporter shows that the affected banks include First City Monument Bank (FCMB), Unity Bank, Keystone Bank, Union Bank (now Titan), Taj Bank, Standard Chartered Bank, Parallex Bank, and SunTrust Bank…
Fourteen banks have not met the Central Bank of Nigeria ‘s recapitalisation requirements .The deadline is March 31.
Checks by our Reporter shows that the affected banks include First City Monument Bank (FCMB), Unity Bank, Keystone Bank, Union Bank (now Titan), Taj Bank, Standard Chartered Bank, Parallex Bank, and SunTrust Bank.
Others are FBH Merchant Bank, Rand Merchant Bank, Coronation Merchant Bank, Alternative Bank, and other non-interest banks.
However, nineteen banks have met the N500 billion minimum capital benchmark .
They include Access Bank, Fidelity Bank, First Bank, GTBank (GTCO), UBA, Zenith Bank, and twelve others.
Business
Why Tax Reforms Benefits Will Be More Than The Shocks – Kupoluyi, LCCI President
…The harmonisation of taxes will be a relief to companies that have been paying over 16 taxes.
The newly elected President of Lagos Chamber of Commerce and Industry (LCCI), Mr Leye Kupoluyi, spoke with ThisdDay Newspaper about the chamber’s advocacy focus during his tenure for the next two years. Excerpt:
What will be the direction of LCCI’s advocacy under your leadership?
Thank you so much for this question. As you know advocacy is one of our major mandates as a chamber because of the different interests that we are representing.
Under my leadership we will carry on advocacy as usual as evidence based engagement on how to strengthen Nigeria’s productive capacity and enhancing business generally.
Our advocacy will be for competitiveness of Nigerian businesses beyond the borders of Nigeria.
The chamber will focus on advocacy that will enable Nigerian companies to be very well competitive within Nigeria and in Africa because it is now a borderless economy.
Do Nigerian companies have the muscle to push their competitiveness beyond the country?
If we do not have the muscle then we have to develop it. But truly we have the muscle to push it. Nigeria is the hope of Africa.
Arguably Nigeria is the largest economy in Africa. I do not want to go into the statistics of people saying which country has the largest economy because there is no country in Africa that is bigger than Nigeria.
Therefore, if we cannot take the lead in Africa then there is no one to do it. There is no doubt that Nigeria is the arrow head of Africa.
What’s your reaction to the shrinking West African market for Nigerian products due to the exit of Burkina Faso, Mali and Niger Republic from ECOWAS?
There are challenges in terms of organised legal exports to these countries even though most of the manufactured goods they require still come from Nigeria.
But definitely there are challenges in terms of doing business the way we know it at this chamber, which is formal, legal and legitimate trade and not through smuggling.
Informally, Nigerian goods are reaching these countries but there are challenges when it comes to formal trade. And we know that ECOWAS leaders are doing everything possible to bring these countries back into the fold.
What do you think will be the immediate impact of the implementation of the new tax laws from January 1, 2026?
Thank you very much. For every reform like Nigeria’s tax reform there must be some shocks and benefits.
But with the tax reforms we know that the benefits will be more than the shocks. It is a very good relief that the low income earners have been removed from the tax net.
The multiple taxations that have been an epidemic in Nigeria’s business environment for many years will be taken care of.
The tax reform must not be a burden to the people. It will unlock lots of revenues for the government because the tax net has been widened and strengthened. Also the harmonisation of taxes will be a relief to companies that have been paying over 16 taxes.
The reform will make the environment predictable because we will know where we are going. Its implementation will be transparent as we move along and be beneficial to both the government and the tax payers.
But we should wait to see how it goes in January. In our own case we keep enlightening our members and sending the feedback to the government.
Under my leadership we will carry on advocacy as usual as evidence based engagement on how to strengthen Nigeria’s productive capacity and enhancing business generally.
What’s your take on public apprehensions regarding the implementation of the tax reform?
Those of us in the orgnised private sector are looking at it as a relief because those multiple taxation will go, low income earners exempted, the tax net expanded and that the tax system made more transparent and harmonised. If these are achieved it will bring big relief to the organised private sector.
What does 2026 hold for Nigerian the economy?
The past two years tried our resilience but from all indications 2026 will be a year of growth.
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