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
FG Enforcing Compulsory “No Tax ID, No Bank Account Policy”
Section 8 (2) makes Tax ID mandatory for any person to operate a bank account or get involved in insurance, stocks or allied services in the country, once the Act comes into force from January 1, 2026.

The Federal Government is making it compulsory for all taxable Nigerians to obtain a compulsory Taxpayer Identification (Tax ID) when the new tax Acts come into force in January 2026.
The policy will be enforced by the Nigeria Revenue Service (formerly Federal Inland Revenue Services).
Ohibaba.com gathered that the Tax ID is contained in the provisions of the Nigeria Tax Administration Act, 2025, Part II Section 4 of the legislation which was recently signed by President Bola Tinubu.
It says: “Every Taxable person shall register with the relevant Tax Authority and obtain a Taxpayer Identification Card (Tax ID) for the purpose of compliance with tax obligations.
“Every ministry, department or agency of the federal, State or Local government shall register and obtain a Tax ID.”
It said that Section 6 (1) of the Act also requires Non-resident persons who supply taxable goods and services to any person in Nigeria to obtain Tax ID, as they shall be obligated to pay tax in Nigeria.
Section 7 (3) empowers the relevant tax authority to issue Tax ID to a person who should have applied for an ID but failed to do so.
The relevant tax authority is also empowered to refuse to issue a Tax ID to an applicant based on information available to it.
In such a case, the authority shall inform the applicant of its decision within five working days.
Section 8 (1) (c) makes Tax ID a condition for entering into any contract with the Federal and State governments.
Section 8 (2) makes Tax ID mandatory for any person to operate a bank account or get involved in insurance, stocks or allied services in the country, once the Act comes into force from January 1, 2026.
The Act, however, provides an allowance to suspend or deregister the Tax ID, if the holder ceases to undertake trade or business, either temporarily or permanently.
Section 10 (1) provides, “Where a taxable person temporarily ceases to carry on a trade or business in Nigeria, the taxable person shall notify the relevant tax authority of its intention to suspend its registration for tax purposes within 30 days of such temporary cessation of trade or business.(2)
“The Tax authority shall classify the Tax ID as ‘dormant’ and place it on suspension.
(3) “Where a taxable person permanently ceases to carry on trade or business in Nigeria, the taxable person shall notify the relevant tax authority of its intention to deregister for tax purposes within 30 days of such cessation of trade or business.
Business
Nigeria to host Intra-African Trade Fair (IATF) 2027
With Lagos preparing to welcome the world in 2027, the IATF mission continues its quest to deepen trade, unlock investment, and connect Africa to itself and the world at large.

• IATF 2025 opening ceremony , 4 September, Algiers.
Nigeria has been officially picked to host the 2027 edition of the Intra-African Trade Fair (IATF).
This was announced during the opening ceremony on Thursday in Algiers, with calls for African countries to accelerate growth in Intra-African trade and boost economic integration.
At the event, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, received the IATF flag on behalf of the country as Lagos was confirmed host city for the continental fair in 2027.
The Chairman of the IATF Advisory Council and former President Chief Olusegun Obasanjo, said, “Since its inception, the IATF has rotated across our continent, leaving its unique legacy and improving with each host nation.
“Today we continue the proud tradition by announcing the country that will host IATF2027.
“With Lagos preparing to welcome the world in 2027, the IATF mission continues its quest to deepen trade, unlock investment, and connect Africa to itself and the world at large.
Organised by the African Export-Import Bank (Afreximbank) in collaboration with the African Union Commission (AUC) and the AfCFTA Secretariat, the IATF brings together continental and global stakeholders to showcase goods and services, facilitates direct engagement and exchange between businesses and between businesses and government entities.
The fair was established to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) agreement which aims to create a single market for goods and services across Africa.
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).

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.
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).
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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