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Businessman Expresses Optimism on Nigeria’s Future

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Northeast Nigeria

By Modupe Gbadeyanka

Frontline businessman and Chairman of Bresson AS, Mr Gbenga Olawepo-Hashim, recently x-rayed Nigeria’s current socio-economic and political challenges, reasoning that with a collective steadfastness the nation is surely going to get out of the woods.

Speaking at a public lecture delivered on the auspices of the Post Graduate College, Obafemi Awolowo University, Ile-Ife, he argued that an agenda was clearly possible not just for the all-round development of the nation, but for a transformation for generations yet unborn.

At the event chaired by the University’s Vice-Chancellor, Professor Eyitope Ogunbodede, Mr Olawepo-Hashim agreed that though slight progress has been made since the advent of democracy in Nigeria in between 1999-2015, Nigeria still remains a “Underdeveloped” by regular classification, which makes the question of an “Agenda for all round National Development” topical and germane.

“With 62 percent of the population living below 2USD a day, and considered poor, with life expectancy of 51 years, and over 40 percent illiterate population, bedevilled with a parlous infrastructure such as poor electricity distribution, poor road networks, and dilapidated health infrastructure, the underdevelopment profile was in bad relief” he stated.

According to him, though by the sheer nature of superiority of democracy over autocracy, Nigeria made some little gains between 1999 and 2015. Such gains where almost completely wiped off by 2015 July-2016 when the nation’s economy started contracting leading to her worst economic recession in 25 years -2.4 percent.

Regardless, he told the predominantly academia audience that “I remain optimistic about Nigerian development trajectory when we tap and build on the energy, creativity, imagination and the industry of everyday Nigerian which is the most important asset that Nigeria possess beyond her Oil wealth and Natural resources”

And beyond that, he praised the nation’s resourceful diaspora community comprising scientists, intelligentsias, innovators, professionals, footballers, and Entrepreneurs who are adding golden pages to the Nigeria rising story.

“In 2013, foreign remittances picked as much as $21 billion to Nigeria, mostly coming from the Nigeria diaspora. The diaspora community will continue to form a major pillar in the architecture of Nigerian socio-economic development.”

Mr Olawepo-Hashim declared matter-of-factly: “The crisis of Nigeria underdevelopment as we have highlighted above can only be confronted and resolved with a bold agenda and plan aimed at changing the present economy structure of dependence-it must be revolutionary.”

Suggesting a range of solutions, he capped it with a call for the New Nigeria Economic Plan to transform the Nigeria Economy to a manufacturing Economy, from agrarian economy, and change it from an economy that is based on production of primary products. Currently, according to FBS record, manufacturing accounts for 9.43 percent of Nigeria GDP while it provides as low as 0.3 percent of employment.

He went further: “Transferring the economy to a manufacturing will entail a number of policy incentives, such as creating a fiscal environment and collaborative monetary policy that will allow promoters of manufacturing concerns to accessing finance at single digit rate, ensuring available power to reduce manufacturers’ energy costs.

“Ultimately, Nigeria needs to grow the manufacturing sector in such a way that it will account for 30-40 percent of her GDP and be a major employer of labour. China is already an example of how an agrarian economy can be transformed into a manufacturing economy.

“As at 2015, manufacturing accounts for 40 percent of GDP of China. As at 2005, the manufacturing sector was also responsible for 11% of total employment. In India, the Industrial Sector accounts for robust 25 percent of GDI.”

At the lecture were the Provost, Post Graduate College, Professor Gbenga Alebiowu, Chairman of the event Local Organising Committee, Professor P.A. Olomola, members of the Board of Post graduate School, and a host of distinguished personalities, professionals, and politicians in the entourage of Mr Olawepo-Hashim.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Pastor Ogbueli’s Abuja Night of Glory Holds Today

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Abuja Night of Glory

By Blaise Udunze

Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.

The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.

The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.

Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.

Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.

The event is intended for all individuals trusting God for divine intervention in any area of life.

Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.

Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.

Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.

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Rivers Speaker, 15 Other Lawmakers Leave PDP for APC

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rivers speaker Martin Amaewhule defect

By Modupe Gbadeyanka

The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).

At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.

This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.

The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.

This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.

A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.

Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.

It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.

Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.

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Nigeria Risks Brain Drain in Energy Sector—PENGASSAN

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energy sector

By Adedapo Adesanya

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.

The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.

Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.

“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.

According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.

“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.

He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.

Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.

He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.

“This industry recruits the best. Companies must provide the best conditions,” he said.

On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.

“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.

He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.

Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.

He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.

“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.

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