Nigeria is losing more than $100 million every year to inefficiencies in waste management, but experts say the country could transform the sector into a billion-dollar industry with the right governance reforms. Igwebuike Ijeoma, a global climate governance expert and Nigeria’s Country Representative for the World Council for Renewable Energy (WCRE), says the core problem is not waste, but how the sector is governed. “The challenges in Nigeria’s waste sector are structural,” Ijeoma told BusinessDay. “At the foundation is a governance issue. Government is acting as both operator and regulator, and that conflict has stalled progress.” She compared the…
Author: Elvis Eromosele
The Federal Government has banned electricity distribution companies (DisCos) and installers from charging consumers for electricity meters, warning that any official caught extorting customers will face prosecution. Adebayo Adelabu, Minister of Power, issued the directive on Thursday during an inspection of 500,000 newly imported smart meters at APM Terminals, Apapa, Lagos. The meters, procured under the World Bank-funded Distribution Sector Recovery Programme (DISREP), are to be installed free of charge. “This is unprecedented; these meters must be installed free of charge. Any request for payment is illegal and will be treated as a criminal offence,” Adelabu stressed. The programme…
Mennonite Economic Development Associates (MEDA) has launched the Resilient and Inclusive Agri-Food Systems Empowering Women and Youth in Nigeria (RISE) project, a five-year initiative aimed at strengthening agricultural value chains and creating decent jobs across Northern Nigeria. The project, supported by*Global Affairs Canada, was unveiled in Abuja on Thursday, January 22, 2026. It is expected to create 8,000 sustainable jobs and directly support 12,500 smallholder farmers through improved access to finance, climate-smart agricultural practices, and stronger market linkages. RISE will also strengthen 450 women- and youth-led enterprises, empower 250 farmer cooperatives, and reach an estimated 50,000 beneficiaries over its lifespan.…
The Anambra State Government’s decision to ban Monday school closures and threaten salary cuts is a bold signal of intent to restore normalcy. However, policy firmness without matching security guarantees risks shifting the burden of insecurity onto teachers and education workers who are already operating under fear. For more than four years, the Monday sit-at-home has thrived not because citizens reject governance, but because the threat of violence by unknown gunmen has been real, persistent, and often deadly. In this context, ordering compulsory resumption, without first neutralising the security risks, creates a moral and practical dilemma. Workers are asked to…
The Anambra State Government has ordered an immediate end to Monday school closures, warning that education workers who fail to report to duty risk losing 20 per cent of their salaries. The directive is contained in a circular dated January 22, 2026, issued by the Anambra State Universal Basic Education Board (ASUBEB) and signed by Hon. Mgbemena Loveline E, the Board Secretary. The decision followed a State Executive Council retreat held on January 21, 2026, and presided over by Governor Chukwuma Charles Soludo. Under the directive, all teaching and non-teaching staff are required to resume work every Monday without exception.…
Khaby Lame, the world’s most-followed TikTok creator, has struck a deal valued at about $900 million after selling part of his commercial company, Step Distinctive Limited, marking one of the largest monetisation deals involving a global content creator. The transaction was disclosed by Rich Sparkle Holdings (ANPA.US), a U.S.-listed firm, which announced the completion of its acquisition alongside a strategic partnership tied to Lame’s global commercial operations. Under the agreement, Rich Sparkle, through its operating partners, will hold exclusive rights to Khaby Lame’s brand partnerships, endorsements and e-commerce business for an initial 36-month period. The company estimates the integrated model…
The World Bank has approved $50 million to expand solar-powered agricultural solutions in Nigeria and five other African countries, in a move aimed at boosting farm productivity, reducing post-harvest losses and widening access to clean energy. The funding will support the rollout of solar-powered cold rooms, refrigerators, water pumps and grain mills across Nigeria, Kenya, Ethiopia, Sierra Leone, Uganda and the Democratic Republic of Congo. Implementation will be led by Clasp, a Washington DC-based non-profit focused on energy efficiency and clean energy access, with support from partners including the Rockefeller Foundation, according to Bloomberg. The initiative has already attracted strong…
The African Export-Import Bank (Afreximbank) has formally terminated its credit rating relationship with Fitch Ratings, escalating a long-running disagreement over the agency’s assessment of the bank’s creditworthiness. In a statement issued on Friday, Afreximbank said Fitch’s evaluation framework no longer reflects a proper understanding of the bank’s Establishment Agreement, mission, and mandate. The Pan-African lender maintained that its unique legal structure and treaty-backed protections have been mischaracterised under Fitch’s current rating model. The decision follows Fitch’s June 2025 downgrade of Afreximbank’s long-term rating from BBB to BBB-, with a negative outlook. Fitch had cited rising exposure to sovereign borrowers undergoing…
Nigeria’s banking industry has renewed calls for a balanced approach between cash and digital transactions, as data shows a sharp 97 per cent rise in currency in circulation over the past five years. According to figures from the Central Bank of Nigeria (CBN), cash in circulation rose to ₦5.7 trillion in December 2025, up from ₦2.9 trillion in 2020. On a month-on-month basis, it increased by 8.9 per cent from ₦5.26 trillion in November 2025. Currency held outside the banking system also surged by 116.7 per cent to ₦5.4 trillion over the same period. The Committee of Heads of Bank…
The Food, Beverage and Tobacco Senior Staff Association, a union under the Trade Union Congress (TUC), has accused the Director General of NAFDAC National Agency for Food and Drug Administration, of a sinister Agenda to kill indigenous-owned industries producing wines and spirits. This statement was made by Comrade Solomon Adebosin, Executive Secretary of the Union, during a protest at the NAFDAC office, against the ban on alcohol in Sachet policy being enforced by the Agency. The Labour Union wondered why, despite the office of the secretary of the federation asking the ban to be put on hold, especially because of…