President Bola Tinubu has asked Nigerians to remain faithful to the country.

The appeal was made by the President on Friday during his nationwide broadcast on the 27th anniversary of Nigeria’s uninterrupted democracy, it was reported.

He said he welcomed criticism from Nigerian youths but charged them to be resolute in the belief that the country will be better.

He said democracy fails when citizens lose faith in the process, adding that the National Assembly, judiciary, the press and civil society are the guardrails of Nigeria.

“Disagree with me, criticise me, but never stop believing in the country.

2. “To our young people, Nigeria is your home and your future. Work here, build here, eat here. Every great nation was built by those who stayed to fix problems, not by those who jumped ship.

“Our forces, police and intelligence services salute your sacrifices for Nigeria. “Thank you to our traditional rulers, faith leaders and community heads for your support for peace and reconciliation,” Tinubu said.

Meanwhile, Tinubu has warned bandits, kidnappers and sponsors of terrorism to surrender or face the full might of the Nigerian state.

President’s warning was reported in a nationwide broadcast to mark the 2026 Democracy Day and the 27th year of uninterrupted civilian rule on Friday.

The country has made significant progress in the fight against terrorism with security forces moving from training with foreign allies to precision targeting of terrorist positions, Tinubu said.

The President said Nigerian security forces had “degraded” an ISWAP command centre in Arege, Borno State.

He said terror-related deaths have dropped sharply since 2015.

“We’ve gone from training with our allies, the United States, France and other European countries, to precision targeting.” We degraded ISWAP command centre at Arege, Borno State. Terror-related deaths down 81% since 2015. “In the last one year, we have neutralized over 13,000 terrorists,” Tinubu said.

Tinubu said government will continue to give a surrender window for those ready to drop their arms.

Since 2023, Operation Safe Corridor has facilitated the surrender of over 124,000 fighters and their dependents, he said.

“But we are also leaving the door of surrender open,” Tinubu further stated. More than 124,000 fighters and dependents have surrendered their arms since 2023 under Operation Safe Corridor.

To bandits, kidnappers and sponsors of terror: Surrender or face the full weight of the Nigerian State. These windows of surrender will not be open forever. “Those who trade in the blood of Nigerians will not get any mercy.”

The President appealed to Nigerians to stay united and to avoid blaming any ethnic group for criminal activities.

Tinubu added, “Let us not engage in blame game or finger pointing at this time.” Crime does not have an ethnicity. Let us come together and make sure that the enemies of our nation will soon be history.

“We will defeat terror and we will continue to build a more prosperous country.

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Nigeria has received several funding offers from investors and institutional lenders, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said.

In an interview with Bloomberg TV, Mr Oyedele said the current market environment presents an opportunity for the country to refinance some of its existing debt while mobilising additional resources for development.

“We think that the timing is good for us to be able to maybe even refinance some of our expensive past debts, but to also raise more funding for our development at this critical time,” he added.

Asked whether Nigeria would go for a Eurobond issue or other commercial sources of finance, the minister said any decision would depend on market conditions, the size of funding required and the speed with which the government wants to access the funds.

Now the country had several options for financing, he said.

“We have many offers, there is a lot of interest in Nigeria from investors, which is good for us,” Mr. Oyedele said.

He said Nigeria also was talking to institutional lenders, such as the African Finance Corporation (AFC), the African Development Bank (AfDB) and Afreximbank, as well as financing arrangements with other countries.

He said, “We have a lot of options.”

The government, he said, would be weighing the cost, risks and appropriateness of available funding sources before arriving at the most appropriate financing strategy.

“The aim is to use resources efficiently in support of the country’s development priorities,” he said.

“We want to get the best results from every dollar or every naira we spend,” he said.

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Results reveal pressure is now building on banks to better utilize their profits before the next earnings season, following two years of chasing new funds, navigating tough regulations and pitching to investors.

With the recapitalisation exercise led by the Central Bank of Nigeria (CBN) now over, banks have raised a total of N4.65 trillion to meet new capital requirements. This has left the sector stronger and with more financial capacity, but the focus is now on how well the money will be deployed to create real growth.
But it has also altered expectations as the urgency for banks to survive has eased. But there is a sharper question coming from shareholders who paid for the expansion. Now they are demanding proof that larger banks can turn their larger capital bases into stronger and more consistent earnings and not just compliance comfort.

33 banks met the new regulatory threshold, the apex bank said. Heritage Bank was the only major casualty after it failed to improve its financial condition despite regulatory intervention, it was gathered.

Shareholders are about to smile home with N27 trillion, a huge jump from N21.97 trillion in 2024. But they are worried that investors cannot eat announcements.

A retail investor, Chika Mbah, who participated in the rights issues of Fidelity Bank and Access Holdings, said: “The capital raise was needed but investors can’t survive on announcements forever. People want to see stronger dividends, steady earnings and share-price appreciation even in the next earning season.”

The recapitalisation exercise changed the size of Nigerian banks fundamentally. These larger shareholder funds will permit banks to take on bigger transactions in infrastructure, energy, manufacturing and regional trade finance.

Under the existing prudential guidelines, banks can lend up to 20 per cent of shareholders’ funds to a single borrower. Analysts say the expanded capital base now puts leading lenders in a position to anchor billion naira infrastructure transactions that were previously out of reach.

They also warn that raising capital and putting it to profitable use are two very different challenges. Managing Director, Optimus by Afrinvest, Ayodeji Ebo, explaining the development, said the sector has moved from a solvency story to an execution story. “Banks that can deploy capital efficiently into quality assets will do well. “Those that just sit on excess liquidity may find pressure on return on equity in the next few years,” Ebo said.

The expiry of CBN’s regulatory forbearance in 2025 forced lenders to acknowledge impaired loans that had been temporarily protected, particularly in the oil and gas sector. Meanwhile, higher interest rates have increased repayment pressure on corporate borrowers.

Several banks already pointed to weaker 2025 earnings due to higher provisioning costs, while others remained resilient in profitability.

Zenith Bank and Guaranty Trust Holding Company continued to be among the best performers, maintaining trillion-naira profit levels and paying record dividends to shareholders.

Wema Bank also attracted investors’ attention after posting triple digit profit growth, driven by loan growth and digital banking activity.

Other lenders face more complicated transitions.

United Bank for Africa’s earnings were affected by big impairment charges related to the expiry of forbearance rules. Investors were cautious of the pending merger between Unity Bank and Providus Bank, until it became clear how integration risks would be managed.

For many retail shareholders, dividends continue to be the key test of whether the recapitalisation exercise was of value.

At the 35th Annual General Meeting (AGM) of Zenith Bank Plc, Bisi Bakare, National Coordinator, Pragmatic Shareholders Association of Nigeria, expressed satisfaction with the Bank’s performance and confidence in future returns.

“As shareholders of Zenith Bank Plc, we are very happy because what we are after every year is return on our investments, and today we are getting N10 dividend and I believe by year end 2026, they are going to pay more, she said.

“They were the banks that people thought would emerge stronger,” said another shareholder, speaking on condition of anonymity.

He then said that shareholders are watching closely now. “Investors expect consistent returns and better corporate governance if banks raise this level of capital,” he said.

The NGX Banking Index is also up at +57.68 per cent, drawing investor interest so far, but market analysts say the sector is no longer one uniform story.

Instead, the next phase will probably diverge between banks with a strong capacity to deploy capital, diversified income streams and disciplined risk management, and those still struggling to translate bigger balance sheets into sustainable profitability.

For investors, the recapitalisation might have answered the immediate question of banking stability.

The larger question now is which banks can turn new capital into sustainable shareholder returns.

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President Bola Ahmed Tinubu has said Nigeria has become a very high destination for investment despite the many challenges confronting the nation.

President Tinubu also said the economy is on an upward trend and has attracted billions of dollars of investment in the hydrocarbons sector, which he described as unprecedented.

President Tinubu said this on Thursday at the State House when he met with the delegation of the Civil Society Organisation on Community Advancement and Humanitarian Empowerment Initiative (CSCHEI).

The meeting was attended by Vice President Kashim Shettima.

“I have just received the good news that our gas investment has successfully navigated the most difficult river and is progressing very effectively,” he stated, referring to the milestone achieved by NNPC in crossing the River Niger with the OB3 Gas Pipeline.

The pipeline, installed 2km below the riverbed using state-of-the-art HDD technology, opens up a transport capacity of 2 billion scf/day—reinforcing Nigeria’s energy security, power generation and industrial expansion.

He praised the Civil Society Group for the quality of people working on its programmes.

“Thanks for kicking off high-level intellectuality and inquisitiveness in governance. We’ve made it through the edge of bankruptcy; we’re starting to see the light at the end of the tunnel.”

“We have an audacious project – the Sokoto- Badagry highway. In that corridor, we have over 75 dams that can be used for irrigation and technology, and power generation that will serve the majority of Nigerians to improve the quality of life,” he said.

The President also stressed that efforts to improve the security situation in the country were on course and added that the issue of state police was being looked into as “it’s not a situation that you can rectify with a snap of the finger. We shall overcome. “

The Director General, Civil Society Organisation on Community Advancement and Humanitarian Empowerment Initiative (CSCHEI), Kunle Yusuff, told the President that the organisation is a United Nations (UN) accredited non-profit establishment that coordinates various registered Community-Based Organisations (CBOs), Non-Governmental Organisations (NGOs) and Faith-Based Organisations (FBOs), to aid Socio- Economic Development, Community Enhancement and Humanitarianism.

He praised the bold, transformational reforms of President Tinubu’s administration. He assured the organization’s determination to complement government efforts to ensure that citizens appreciate government developmental efforts.

“Mr President, it is neither hyperbolic nor gainsaying to describe you as the architect of Nigeria’s new financial infrastructure. “Revenue outcomes have grown exponentially by over 300%.”

The Director General said Nigeria was doing well in the implementation of the SDGs Global Agenda 2030 with the appointment of seasoned principals to drive this process.

On the administration’s policy on local government autonomy, Yusuff said the President’s position showed the political will to address structural bottlenecks that have hindered governance from reaching the grassroots.

Mr Yusuff also praised the government’s achievements, particularly on infrastructure development, NELFUND and Social Investment Programmes, calling, however, for an increase in the list of beneficiaries.

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Mohammed Hayatu-Deen, a leader of the African Democratic Congress (ADC) and a former presidential candidate, says that Nigeria’s development needs stronger institutions, more productivity, and rebuilding public trust.

Hayatu-Deen spoke at the Silver Jubilee Awards Ceremony for the Independent newspaper in Lagos. He said that the newspaper had not only written about Nigeria’s past, but also changed it through responsible journalism.

He said that the media must keep informing, questioning, and holding those in power accountable, even though the digital landscape is always changing.

“A free and independent press is like an early warning system for society. “It shines light when there is darkness and speaks truth when power may want to be easy,” he said.

Hayatu-Deen also praised the award winners at the event, calling them “game changers” who have made important contributions to business, public service, and social development.

“Someone who changes the course of their field is not just a game changer. He went on, “They break down barriers so that others can walk through.”

Hayatu-Deen talked about three important pillars that are needed for Nigeria to move forward as a nation: Strong institutions are better than strong people. We need to move from consumption to production. Trust is the basis for good governance.

He said that institutions need to be made stronger so that they can keep going and be stable even when individual leaders leave.

He says that Nigeria’s long-term success depends on an economy that is productive and based on innovation and developing human capital instead of relying too much on consumption.

He also said that trust, which comes from being fair and accountable, is still very important for good government and economic growth.

Hayatu-Deen told media companies to stay independent and honest, saying that public trust is their most important asset.

He stressed that journalism is still very important for keeping democracy alive and making sure that government is open and honest.

He said that Nigeria’s biggest problem isn’t a lack of potential, but the need to get its people and institutions working together toward a common national goal.

He said that the country could reach its full potential and make lasting progress by strengthening institutions, increasing productivity, and keeping people’s trust.

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The Federal Government has said again that it wants to strengthen democratic governance through strategic partnerships. They say this is a key way to achieve national development and economic growth that includes everyone.

George Akume, the Secretary to the Government of the Federation, said this on Thursday in Abuja at the National Convening and Report Launch for “Strengthening the Nexus between Democracy and Economic Development in Nigeria.”

Chris Ugwuegbulam, the Head of Information and Public Relations, said in a statement that the SGF said the Federal Government is still open to working with important groups in a constructive, evidence-based way to improve democracy across the country.

Dr. Ibrahim Abubakar Kana, the Permanent Secretary of the General Services Office, spoke at the event. Akume said that working with the National Assembly, sub-national governments, the private sector, civil society organizations, and development partners is still very important for building a strong democratic system.

He said that to build public trust in democratic institutions, they need to be more open, have reliable voting systems, and have good ways to settle disputes. He says that a legislative environment that encourages accountability and broad representation is necessary for better governance outcomes.

Akume said that strengthening these democratic pillars would not only make Nigeria’s politics more stable, but it would also help the country work better with international development organizations like the Foreign, Commonwealth, and Development Office.

Goodluck Ebele Jonathan, the former president and chairman of the Goodluck Jonathan Foundation, also spoke at the event. He stressed how important freedom and justice are for democracy and urged all levels of government to make sure these values are upheld for economic growth.

The best part of the event was when they revealed a report called “The Democracy Dividend: Governance and Growth.” Ann Iyonu, the Executive Director of the Foundation, talked about ten policy imperatives that could help the country grow. These included fiscal discipline, digital procurement systems, and making government processes more open.

She asked policymakers, lawmakers, civil society groups, and development partners to read the report and turn its suggestions into policies that would lead to long-term growth.

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Yusuf Tuggar, the Minister of international Affairs, advised international investors Tuesday not to see Nigeria’s future through the lens of individual security occurrences. According to Tuggar, these cases did not accurately represent the long-term investment fundamentals of Africa’s greatest economy.

In an interview with CNN while attending the World Economic Forum (WEF) in Davos, Switzerland, Tuggar acknowledged Nigeria’s security issues. However, he emphasized that the administration was actively tackling them and that they were localized.

According to him, the propensity to generalize about instability throughout the nation has frequently resulted in inflated risk perceptions that have masked potential in important industries. He called on the world to reconsider its perception of Nigeria.

Nigerians, according to the minister, are among the most diverse people on the continent. He emphasized the nation’s strengthening macroeconomic reforms and the Bola Tinubu administration’s continuous efforts to improve governance.

According to Tuggar, investors should have a more nuanced perspective on Nigeria, evaluating the nation on its own characteristics rather than making generalizations, even though no nation is immune to security problems.

“I think it would be nice to see (Nigeria) as a very diverse country that actually has not fared bad compared to countries that are more homogenous,” he told CNN. that notwithstanding some fringe or even warring areas in border areas that are now cascading downward, we have been coexisting peacefully.

However, it is crucial to identify it for what it is in order to identify the appropriate solutions. We offer a number of other programs in addition to our forest guardians. In actuality, the battle against Boko Haram had gone really well.

The minister countered that many of the charges are exaggerated and described the Nigerian and African situation as being incorrectly framed.

“Some of the discussions that are happening here also have to do with Africa’s risk bias, where the issue of risk, particularly geopolitical risk, is overhyped when it comes to Africa, which doesn’t apply in other parts of the world,” he stated.

Therefore, it is crucial that we examine the advancements made by the Tinubu administration in macroeconomic reforms, including the reduction of corporate income tax, the reform of foreign exchange, and tax reforms that facilitate investor entry into Nigeria.

“We have $43 billion in foreign reserves, so we can come to Davos and use our Nigerian cards, which are limitless credit cards.” The yield on our national bonds and Treasury bills is between 8 and 10%. So let’s examine Nigeria in its whole. Let’s not let a few isolated episodes characterize the entire nation.

“And it’s also important to note that sometimes we dwell on some of these incidents, sorry, when we don’t frame the narrative correctly, we actually trigger some of these incidents, because that’s when some of the bandits and terrorists try to go for innocent civilians and use them as human shields because they know they’re going to be targeted,” he continued.

Tuggar acknowledged the impact of the recent coup in the Niger Republic and its detrimental impact on security in the Sahel, stressing that Nigeria is still willing to collaborate with other countries in order to provide equipment and training to address the country’s security issues.

“We were trying to sort out the thousands that had surrendered,” he said. Prior to the coup in Niger, some were innocent victims stuck in combat zones. Additionally, Niger withdrew from the global joint task force that was functioning so effectively because it permits the right of pursuit.

It enables the pursuit of terrorists into Niger by Nigerian military and vice versa. We are pleading with prospective investors to view us in the same light as other nations.

“A country of 923,000 square kilometers does not have to be written off because of an incident.”

The minister declined to provide a definitive answer when asked if the latest US-Nigeria airstrikes had struck the targets in Sokoto. He claimed that those in command of the armed forces and security were best suited to respond to such queries.

“It’s sufficient to say that certain targets were hit, and sometimes you don’t get the right target, as is the case with some of these strikes,” Tuggar stated.

However, it emphasizes how eager Nigeria, the US, and other nations are to comprehend the situation in the area better and cooperate to put an end to it.

The West African region, as well as the Sahel and Lake Shad regions in particular, are among the fastest expanding places in the globe due to the global nature of the conflict. In the next twenty-four years, Nigeria will have 400 million people. The most populous continent will be Africa.

In order to prevent these wars from spreading to other continents and to prevent terrorism, extremism, and other criminal activity from thriving in the Sahel, it is crucial that we put an end to them as soon as possible. We’re also making a lot of progress locally.

Tuggar said, “Nigeria is taking on a lot of responsibility. If you look at the work we’ve done in just one month—intervening in the Republic of Benin, where there was a coup attempt, sheltering an opposition leader following an election, and dealing with a coup in Guinea-Bissau—you’ll see that we have a lot of duties, and we need your help.

“We require support in the form of equipment, training, and—above all—understanding and appropriate framing of what is occurring in our region and the nation.”

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Despite persistent structural issues, the World Bank has maintained Nigeria’s economic growth projection at 4.4% for 2027, indicating continued optimism about the nation’s medium-term prognosis.

This is consistent with the forecast previously released in the World Bank’s Nigeria Development Update (NDU) in October 2025, according to the most recent edition of Global Economic Prospects.

Recall that, according to the most recent report from the National Bureau of Statistics (NBS), Nigeria’s GDP increased by 3.46% year over year in real terms during the third quarter of 2024.

As macroeconomic conditions improved, the Bretton Woods Institution likewise increased Nigeria’s growth prediction for 2026 from 3.7% in its June 2025 Global Economic Prospects report to 4.4%.

Nigeria’s economy is predicted by the World Bank to grow at a rate of 4.4% in 2026 and 2027, which is the fastest growth rate the nation has had in more than ten years.

The report states that a recovery in agricultural output, steady development in the services sector, and a slight acceleration in non-oil industrial activities will be the main drivers of this increase.

According to the bank, “growth in Nigeria is expected to strengthen to 4.4% in both 2026 and 2027—the fastest pace in over a decade.”

The Bank further stated that over the projection period, enhanced agricultural productivity and ongoing service expansion will continue to be the fundamental pillars bolstering economic performance.

According to the World Bank, continued economic reforms—especially in the tax system—along with prudent monetary policy are anticipated to boost macroeconomic stability and encourage economic development.

“It is anticipated that prudent monetary policy and economic reforms, including those in the tax system, will continue to support activity.”

The Bank stated that these policy initiatives should “improve investor sentiment and reduce inflation further.” This year, higher oil production is anticipated to counteract lower global oil prices, strengthening the external balance and increasing fiscal revenues, according to the World Bank.

The ongoing focus on non-oil growth demonstrates the progressive effects of Nigeria’s attempts to diversify its economy in order to lessen its dependency on crude oil exports.

Over time, increased agricultural productivity and a more robust services sector might help stabilize prices, provide jobs, and increase the government’s tax base.

Even while the nation is still navigating economic weaknesses, the World Bank’s prediction gives investors and officials some assurance that recent changes may start to produce noticeable dividends.

Additionally, the World Bank predicted that Sub-Saharan Africa’s growth would accelerate to 4.3% in 2026 thanks to resilient domestic investment, economic reforms, and declining inflation throughout the area.

The Bank anticipates that the global economy will continue to be robust, with growth slowing slightly to 2.6% in 2026 before increasing to 2.7% in 2027—an increase above its June prediction.

Even if geopolitical and climate-related risks are still high, the improving global picture is due to declining inflation, stabilizing financial conditions, and better-than-expected performance in a number of emerging and developing economies.

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Renowned Pan-Africanist and public intellectual Professor PLO Lumumba has issued a powerful rebuke against what he describes as “cowardice,” “false democracy,” and “leadership greed” in African countries, calling on the continent’s citizens—especially the youth—to awaken to the realities of their governance systems and demand accountability.

Speaking at a public symposium yesterday, Prof. Lumumba lamented the rising tide of impunity, corruption, ethnic politics, and electoral manipulation across Africa, warning that the continent cannot progress under its current political systems.

“This is not the time for cowards who die many times before their actual death,” Lumumba declared. “If we remain silent today, our children and their children will pay the price of our cowardice.”

He decried recent assassination attempts on reform-minded leaders, referencing his friend Captain Ibrahim Traoré of Burkina Faso, who he said has survived multiple attempts on his life.

“When you’re doing good in Africa, they try to take you out,” he noted. “But like Samora Machel said, when colonizers praise you, pause and ask: what evil are you committing against your own people?”

On Failed Democracy

Lumumba criticized the state of democracy in Africa, stating that many African nations adopted colonial systems of government post-independence, rather than developing systems rooted in African traditions and values.

“No African country adopted a governance system based on its own traditions. Instead, we inherited Western systems—systems that are now failing us.”

Citing the situation in countries such as Sudan, Somalia, the Democratic Republic of Congo, and Mali, Lumumba pointed out that several coups in recent years are signs of deeper systemic failure. “What we call democracy has become a mockery,” he said.

A Broken System of Governance

He described Kenya’s political landscape as one where tribalism trumps ideology. “Political parties don’t matter. What matters is your ethnic group,” he said. “No presidential candidate has ever contested twice under the same party. The forest changes, but the monkeys remain the same.”

He sharply criticized Kenya’s Parliament, alleging rampant corruption, nepotism, and insatiable greed among elected officials.

“Our MPs are among the best paid in the world relative to our GDP, not because they serve us—but because they serve themselves.”

He accused politicians of turning the Constituency Development Fund (CDF) into personal empires, enriching themselves through companies registered in the names of relatives and household staff.

Call to Action for Young Africans

Prof. Lumumba challenged young Africans to rise above tribal loyalties and demand better leadership and governance.

“The tribe must die—not in identity, but as a basis for decision-making,” he said. “We can’t keep voting for people just because they gave us 200 shillings.”

He emphasized that development requires discipline and prioritization. “We have 47 counties in Kenya, each acting like an independent nation. Yet, some of these counties generate 400 million annually but consume over 2 billion. We cannot grow—not even with divine intervention.”

On Democracy and African History

Dispelling the myth that democracy is a Western invention, Lumumba traced the practice back to Africa’s pre-colonial systems and the 1235 Manden Charter among the Mandinka people, long before the Universal Declaration of Human Rights.

“We knew democracy. We practiced it. But the version we now practice is neo-colonial, imposed, and failing.”

Closing Message

Referencing the killing of six people on April 29th in what he described as “cold blood,” Lumumba lamented the culture of lawlessness and impunity that pervades African governance.

“What is the value of knowing what is right if we do not do what is right?” he asked. “We are unmoved and untouched, but until we change, nothing will change.”

He concluded with a rallying cry:

“This is not the time for cowards. We must speak out and bear the consequences. Africa must rise.”

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According to former World Bank Vice President for the African Region Obiageli Ezekwesili, the majority of Nigerian politicians are not familiar with the fundamentals of economics.
Mrs. Ezekwesili reportedly claimed that the bad economic policies of Nigeria’s lawmakers were to blame for the nation’s economic woes.
In an interview with News Central, the former vice president of the World Bank’s African Region bemoaned the fact that political leaders do not consider the consequences of their policies before enacting them.

Ezekwesili, a specialist in economic policy, clarified that Nigerian political leaders prefer to spend their time preparing for the next election rather than enacting economic measures that will benefit the populace.
Listen, if up to 40% of our political leaders are familiar with the fundamentals of economics, I would be shocked. Some of the things we have witnessed in this nation would not have occurred if they had. People just scratch their heads and say, “Let’s do this,” when they encounter a predicament. It’ll function. No. What economic data supports the policy you have chosen? I looked at a few of our notable misses in the past.

People say things like, “We’re going to make sure that we address the petroleum subsidy problem,” for instance, when I see them. They don’t understand, however, that raising a product’s price in an industry that prevents the fundamental laws of supply and demand from operating without being hampered by various governmental blowbacks is just insane,” she described.

Read Also: Asari Dokubo Reacts to Rivers Political Crisis, Criticizes Supreme Court Verdict

According to the former Minister of Solid Minerals, if authorities had permitted transparency in the oil and gas industry, Nigeria’s economy may have seen a radical transition.

The political elite has taken over the oil and gas industry, she said, and the majority of Nigerian officials view it as a cash cow. According to her, the same change that occurred in the telecoms sector needed to be applied to the oil and gas industry.

“So, you look at our nation’s petroleum and oil and gas industry. What do you observe transpiring? There is a political takeover of that area. If that sector is not viewed by the political elite as one that the leader wishes to keep near and dear, the opportunities in that sector will change drastically. She said, “It is preventing the creativity, ingenuity, and innovation that are possible in that sector where it is to go through a similar kind of thing as what the telecom sector went.”

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