Economy
Bad Roads: Residents Threaten to Shut Down Ogun Economy
By Adedapo Adesanya
Protests erupted in Ogun State on Wednesday morning as members of the Nigeria Labour Congress (NLC) and residents lamented the poor state of roads in the state.
They complained bitterly about the deplorable condition of roads, giving the state Governor, Mr Dapo Abiodun, a 21-day ultimatum to address the issue or they will bring down the economy of the state.
This morning, the demonstrators blocked the Sango Ota section of the Lagos—Abeokuta Expressway in the Ado-Odo/Ota Local Government Area of the state from Joju Bus-Stop to the Garage area.
According to images circulating on social media, many of the frustrated residents of the states lamented the price hike in bus fares and the loss of lives happening due to the roads.
A Punch newspaper report said that the protesters carried placards with various inscriptions such as Repair our road with immediate effect or face the wrath of the masses; 400% hike in transport fare due to bad road; Our roads are death traps fix our roads; No good roads, No payment of tax; Our taxes are meant for fixing road so what happened; Industries in Ota are relocating and closing down due to bad roads, amongst others.
Speaking at the protest, the state’s NLC chairman, Mr Emmanuel Bankole, said the union decided to protest to show its displeasure over the continued attitude of the government despite cries from residents and stakeholders.
He explained that nothing had been done even after the visit of the Minister of Works and Housing, Mr Babatunde Fashola to the location, a visit which has not brought any result.
The threat to shut down the state comes at a time when Governor Abiodun faced backlash for his trip to the United Kingdom, where he paid a courtesy visit to the national leader of the ruling All Progressive Congress, Mr Bola Tinubu.
The criticism followed the handing over the affairs of the government to the Secretary to the State Government, Mr Tokunbo Talabi, instead of the deputy governor, Mrs Noimot Salako-Oyedele who over the rift reportedly left the state at the same when the Speaker of the Ogun State House of Assembly, Mr Olakunle Oluomo, was also said to have left the state to attend a conference in the United States of America.
Sources confirmed to Business Post that the governor returned to the state on September 30 to mark the Independence Day celebrations.
According to an Ogun resident, Mr Yemi Ajala, who spoke to this newspaper, lamented that many of the road projects of the previous administration of Mr Ibikunle Amosun are still abandoned and only a few ones have been done by the Abiodun-led administration.
He said, “Areas that needed serious attention six years ago are still begging for it, especially in the borders towns of Ifo and Sango Otta local governments, and the wider Yewa axis.
“Thousands of man-hours are lost daily to these terrible roads while the economic costs of frequent car repairs are frankly life-threatening.
“In the specific case of Sango Otta, I know of only two good roads in the entire local government.”
“Yes, the state will say many of the bad roads are federal roads that FG warned them off, but I will like to ask Governor Dapo Abiodun, are their federal people? Do adequate palliatives on this road and chuck the cost up to doing social good or something. The suffering is too much!” he quipped.
By Adedapo Adesanya
Nigeria’s economy, measured by gross domestic product (GDP), grew by 4.07 per cent (year-on-year) in real terms in the fourth quarter (Q4) of 2025.
The National Bureau of Statistics (NBS) announced the development in its latest GDP report for Q4 2025 on Friday.
The latest figure represents an improvement over the 3.76 per cent growth recorded in the corresponding period of 2024, signalling sustained recovery across key sectors of the economy. The growth rate was faster than the third quarter’s 3.98 per cent.
The report confirmed that Nigeria’s oil sector grew 6.79 per cent year-on-year and the non-oil part of the economy expanded by 3.99 per cent.
Nigeria’s average daily oil production stood at 1.58 million barrels per day in the final three months of 2025. That was lower than the third quarter’s output of 1.64 million barrels per day but higher than the 1.54 million barrels per day in the fourth quarter of 2024.
Breakdown of the data showed that the agriculture sector grew by 4.00 per cent in the fourth quarter of 2025. This marks a significant increase compared to the 2.54 per cent growth recorded in the same quarter of 2024, reflecting improved output and resilience in the sector.
The industry sector also recorded a stronger performance during the period under review. It grew by 3.88 per cent year-on-year, up from 2.49 per cent posted in the fourth quarter of 2024. The improvement suggests enhanced activity in manufacturing, construction, and related industrial sub-sectors.
The services sector maintained its position as a major growth driver, expanding by 4.15 per cent in Q4 2025. However, this was slightly lower than the 4.75 per cent growth recorded in the corresponding quarter of the previous year.
Overall, the 4.07 per cent GDP growth in the final quarter of 2025 underscores broad-based expansion across agriculture, industry, and services, despite a marginal moderation in services growth.
The Q4 performance provides further evidence of strengthening economic momentum, with improvements recorded in both agriculture and industry compared to the previous year.
By Modupe Gbadeyanka
For the second time, Flour Mills of Nigeria Plc is sponsoring the Paris International Agricultural Show (PIAS) as part of its strategies to fortify its ties with France.
The 2026 PIAS kicked off on February 21 and will end on March 1, with about 607,503 visitors, nearly 4,000 animals, and over 1,000 exhibitors in attendance last year, and this year’s programme has already shown signs of being bigger and better.
The theme for this year’s event is Generations Solution. It is to foster knowledge transfer from younger generations and structure processes through which knowledge can be harnessed to drive technological advancement within the global agricultural sector.
In his address on the inaugural day of the Nigerian Pavilion on February 23, the Managing Director for FMN Agro and Director of Strategic Engagement/Stakeholder Relations, Mr Sadiq Usman, said, “At FMN, our mission is Feeding and Enriching Lives Every Day.
“This is a mandate we have fulfilled through decades of economic shifts, rooted in a culture of deep resilience and constant innovation. We support this pavilion because FMN recognises that the next frontier of global Agribusiness lies in high-level technical exchange.
“We thank the France-Nigeria Business Council (FNBC), the organisers of the PIAS, and our fellow members of the Nigerian Pavilion – Dangote, BUA, Zenith, Access, and our partners at Creativo El Matador and Soilless Farm Lab— we are exceedingly pleased to work to showcase the true face of Nigerian commerce.”
Speaking on the invaluable nature of the relationship between Nigeria and France, and the FMN’s commitment to process and product innovation, Mr John G. Coumantaros, stated, “The France – Nigeria relationship is a valuable partnership built on a shared value agenda that fosters remarkable Intercontinental trade growth.
“Also, as an organisation with over six decades of transformational footprint in Nigeria and progressively across the African Continent, FMN has been unwaveringly committed to product and process innovation.
“Therefore, our continuous partnership with France for the success of the Paris International Agricultural Show further buttresses the thriving relationship between both countries.”
PIAS is one of the most widely attended agricultural shows, with thousands of people from across the world in attendance.
By Adedapo Adesanya
Despite reservations from some quarters, the Nigeria Extractive Industries Transparency Initiative (NEITI) has praised President Bola Tinubu’s Executive Order 9, which mandates direct remittances of all government revenues from tax oil, profit oil, profit gas, and royalty oil under Production Sharing Contracts, profit sharing, and risk service contracts straight to the Federation Account.
Issued on February 13, 2026, the order aims to safeguard oil and gas revenues, curb wasteful spending, and eliminate leakages by requiring operators to pay all entitlements directly into the federation account.
NEITI executive secretary, Musa Sarkin Adar, called it “a bold step in ongoing fiscal reforms to improve financial transparency, strengthen accountability, and mobilise resources for citizens’ development,” noting that the directive aligns with Section 162 of Nigeria’s Constitution.
He noted that for 20 years, NEITI has pushed for all government revenues to flow into the Federation Account transparently, calling the move a win.
For instance, in its 2017 report titled Unremitted Funds, Economic Recovery and Oil Sector Reform, NEITI revealed that over $20 billion in due remittances had not reached the government, fueling fiscal woes and prompting high-level reforms.
Mr Adar described the order as a key milestone in Nigeria’s EITI implementation and urged amendments to align it with these reforms.
He affirmed NEITI’s role in the Petroleum Industry Act (PIA) and pledged close collaboration with stakeholders, anti-corruption bodies, and partners to sustain transparent management of Nigeria’s mineral resources.
Meanwhile, others like the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have kicked against the order, saying it poses a serious threat to the stability of the oil and gas industry, calling it a “direct attack” on the PIA.
Speaking at the union’s National Executive Council (NEC) meeting in Abuja on Tuesday, PENGASSAN President, Mr Festus Osifo, said provisions of the order, particularly the directive to remit 30 per cent of profit oil from Production Sharing Contracts (PSCs) directly to the Federation Account, could destabilise operations at the Nigerian National Petroleum Company (NNPC) Limited.
Mr Osifo firmly dispelled rumours of imminent protests by the union, despite widespread claims that the controversial executive order threatens the livelihoods of 10,000 senior staff workers at NNPC.
He noted, however, that the union had begun engagements with government officials, including the Presidential Implementation Committee, and expressed optimism that common ground would be reached.
Mr Osifo, who also serves as President of the Trade Union Congress (TUC), expressed concerns that diverting the 30 per cent profit oil allocation to the Federation Account Allocation Committee (FAAC), without clearly defining how the statutory management fee would be refunded to NNPC, could affect the salaries of hundreds of PENGASSAN members.
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