Business
Tony Elumelu: FG Alone Can’t Transform Nigeria Into Prosperous Economy
Tony O. Elumelu, Founder, The Tony Elumelu Foundation, said that transforming Nigeria into economies like the USA, France, UAE, and London, is not the responsibility of the federal government alone.
Tony Elumelu stated this during the Nigerian Bar Association (NBA) 63rd Annual General Conference in Abuja.
He spoke on the theme of the conference ‘Getting It Right, Charting The Course Of Nigeria’s Nation Building,” and said:
” Great nations start with great people, not just great leaders; it’s
a journey that demands our collective dedication, building across political affiliations, ethnic differences, and socioeconomic differences,” he said.
Stressing that resetting the economy is not the responsibility of the government alone, he said: ” Our private sector, our philanthropies, our civil society, all citizens must be brought together and be empowered – as real, valued and executing partners for this national renewal, this nation building.
” It behoves us all to collaborate in unity to reset Nigeria.”
Let us renew our infrastructure:
To achieve this goal, Tony Elumelu called for a fundamental renewal of the social and economic infrastructure of Nigeria.
” Nation building is not a quick fix, it entails sacrifices. We cannot keep doing the same things and expect different outcomes.
Let us lead our nation building, by laying those important foundations for our nation – let us renew our infrastructure.
” When I talk of infrastructure, I do not mean just roads or rail, bridges, or ports, I mean the following:
-Investment in our youth – we need to renew our commitment to our youth, provide them with the means to succeed in Nigeria – not beyond Nigeria.
-This means not just investment in our education system, but in our entrepreneurial culture.
-Nigeria is a nation of entrepreneurs – you know me as an investor and champion of entrepreneurs – I know the social and economic returns entrepreneurship creates.”
In his address, President Tinubu called for a change of mindset and approach to governance.
Tinubu believes the bold endeavours to be embarked upon by the nation will need collaboration with the private sector.
NBA President Yakubu Maikyau, this year’s conference is centred around three thematic areas – security, economy, and the administration of Justice.
He hopes that after the conference, the NBA can set an agenda for Nigerians around these themes with which to engage the Presidency for the good of the country.
Business
Royal African Society marks 125 years of Africa – Britain Businesses
The anniversary featured the Closing of Markets Ceremony and ringing of the exchange’s closing bell, alongside high-level sector discussions, fireside chats, the presentation of philanthropy awards and the unveiling of the Top African Brands in the UK and Top British Brands in Africa.
• Arunma Oteh, Chairperson of the Royal African Society
The Royal African Society has marked 125 years anniversary of Africa and Britain businesses and investments at a ceremony held at the London Stock Exchange.
The Wednesday event brought together the Emir of Kano, Muhammadu Sanusi II; President and Chief Executive Officer of Africa Finance Corporation, Samaila Zubairu; Chief Executive Officer of British International Investment, Leslie Maasdorp; Founder and Chief Executive Officer of Flutterwave, Olugbenga “GB” Agboola; Director and Chief Executive Officer of the Royal African Society, Stella Okotete; and other business, diplomatic and policy leaders.
Chairperson of the Royal African Society, Arunma Oteh, said that the organisation had spent 125 years fostering partnerships between both regions.
Oteh said that the celebration was aimed at deepening collaboration between Africa and the UK while promoting investment, innovation and shared prosperity.
The anniversary featured the Closing of Markets Ceremony and ringing of the exchange’s closing bell, alongside high-level sector discussions, fireside chats, the presentation of philanthropy awards and the unveiling of the Top African Brands in the UK and Top British Brands in Africa.
Business
US subjects imports from Nigeria to 12.5% tariff
The tariff affects imports from 60 economies that Washington says have not “imposed and effectively enforced a prohibition on the importation of goods produced with forced labour.”
The United States has imposed a 12.5 per cent tariff on imports from Nigeria as part of a new trade measure targeting countries it says have failed to prohibit the importation of goods produced with forced labour.
The tariff affects imports from 60 economies that Washington says have not “imposed and effectively enforced a prohibition on the importation of goods produced with forced labour.”
The measure was announced in a statement posted on the website of the Office of the United States Trade Representative on Thursday.
Nigeria is among the countries subject to the 12.5 per cent tariff, while India, Indonesia, Malaysia, Mexico and the United Kingdom will face a lower 10 per cent rate after adopting or committing to implement bans on imports linked to forced labour.
The move follows investigations launched by the USTR in May 2026 into 60 of the United States’ largest trading partners under Section 301 of the Trade Act.
According to the agency, it received more than 1,600 written submissions, held public hearings involving over 100 witnesses, and consulted more than 45 governments before announcing the tariffs.
Business
MTN Nigeria asks customers to trade old SIM packs for prizes
MTN named eight collection centres across the country where customers can deposit their items. The locations cover Lagos, Abuja, Kano, Jos, Delta, Port Harcourt, and Ibadan.
MTN Nigeria has invited customers to bring in old SIM packs, recharge cards, booster cards, dongles, and MTN-branded phones in exchange for prizes.
The telecom giant is running the campaign the under the hashtag #YelloMoments.
MTN launched the campaign on Wednesday, July 23, via its official social media pages, telling followers that items kept in drawers over the years could be worth something.
Customers who participate will also be featured on what MTN described as a “Memory Wall.”
Collection centres across Nigeria
MTN named eight collection centres across the country where customers can deposit their items. The locations cover Lagos, Abuja, Kano, Jos, Delta, Port Harcourt, and Ibadan.
In Lagos, customers can visit MTN Plaza at No. 1 Awolowo Road, Falomo, Ikoyi, or the office at 43 Allen Avenue, Ikeja. In Abuja, the collection point is at No. 4, Medeira Street, Maitama.
In Kano, it is at 2, Civil Centre Road. In Jos, Plateau State, the centre is at Plot 3119, Royalfield Road.
In Asaba, Delta State, the location is KLM 129, Benin–Asaba Expressway. In Port Harcourt, Rivers State, customers can go to 234, Old Aba Expressway, Opposite Hannah Fast Food.
In Ibadan, Oyo State, the drop-off point is at MTN Regional Office 1, Olubadan Avenue and Up/Zartech Road, Oluyole Estate.
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