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Economy

Expect Improvement in Power, Economy, Security—Osinbajo

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**Tasks Men to Honour, Treat Women as Equals

By Dipo Olowookere

Men have been charged to see women as equals and must do everything within their powers to honour, love them and recognise their roles as partners, not just in families but in society.

This were the words of the Vice President of Nigeria, Mr Yemi Osinbajo, on Sunday after a special Father’s Day service at the Aso Villa Chapel, Abuja.

Mr Osinbajo said the responsibility of fatherhood in families and society was very crucial in setting good examples for future generations, as it would guide them in the right path to lead exemplary lives.

He further said that it was equally important for them to teach young men to also honour and respect all women.

On the Next Level agenda of the Buhari administration, the VP said power and infrastructure would improve, and there will be progress in the economy, security, and in the fight against corruption.

Speaking to the press, the Vice President wished every father in the country a Happy Father’s Day.

“Fathers, as you know, have very important role to play in any human society or setting. I think it was (former US) President Barack Obama who said that it’s not the ability to father a child, or the ability to have a child that makes you a father, it is the courage to raise one. That’s really what makes you a father.

“I think that the responsibility of fatherhood is absolutely immense, whether one is a biological father to children or one who wants to take care of other children. All of us have a role to play, not just in the lives of our children, but so many others; those who have no fathers, even some who have fathers; to whom we have a responsibility to set examples to lead exemplary lives. And to bring them up, as the scriptures says, in the way of the Lord.

“So, the responsibility of the father is incredible indeed. One of the most important things is to teach our young men growing up that they must honour women, not just their wives. Of course, you must honour and love your wife, but I think it is also very important that we honour women. We shouldn’t treat them as subordinates; they are not. They are created equal to men. But most importantly, we must honour them and recognize their roles as partners, not just in families, but in society as well,” the Vice President said.

Also present at the Father’s Day service at the Aso Villa Chapel were the Secretary to the Government of the Federation, Boss Mustapha; Deputy Senate President, Ovie Omo-Agege; other senior government officials and private sector chieftains, including the President/Chief Executive Officer, Coscharis Group of Companies, Dr Cosmas Maduka.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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Economy

Why It’s the Best Bitcoin Wallet and Best Crypto Wallet for 2025

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Guarda Wallet

In a fast-evolving world of cryptocurrencies, where innovation and security are paramount, choosing the right wallet can make all the difference. With hundreds of options available, finding a platform that balances functionality, safety, and user experience is no easy feat. Among the contenders, Guarda Wallet has consistently risen to the top, earning a reputation as the best bitcoin wallet and arguably the best crypto wallet on the market today.

Whether you’re a seasoned trader, a long-term investor, or someone just stepping into the realm of digital currencies, Guarda Wallet offers a compelling solution for managing your digital wealth.

What is Guarda Wallet?

Guarda Wallet is a non-custodial, multi-platform cryptocurrency wallet that supports a wide range of digital assets. Founded in 2017, Guarda has built a strong reputation based on its core values of user autonomy, security, and convenience. Being non-custodial means that users retain full control over their private keys, reinforcing the true essence of decentralization.

Available as a web, desktop, mobile, and even Chrome extension app, Guarda offers users seamless access to their crypto holdings anytime and anywhere. It supports over 400,000 tokens and 50+ major blockchains, including Bitcoin, Ethereum, Binance Smart Chain, Cardano, Solana, and more.

Why Guarda is the Best Bitcoin Wallet

Bitcoin remains the cornerstone of the crypto world, often referred to as digital gold. As such, any wallet vying for the title of the best bitcoin wallet must deliver exceptional security, fast transactions, ease of use, and robust support for Bitcoin-specific functionalities. Here's why Guarda ticks all the right boxes:

1. Security First, Always

Guarda Wallet takes user security extremely seriously. Since it's non-custodial, no private keys are stored on the company's servers. All keys are generated and stored locally on the user’s device, minimizing the risk of centralized hacks. Additionally, the wallet supports backup encryption, biometric authentication, and password protection, ensuring multiple layers of safety for Bitcoin holders.

2. User-Friendly Interface

Whether you are a beginner or an expert, Guarda’s interface is clean, intuitive, and easy to navigate. It makes sending, receiving, and storing Bitcoin a smooth and hassle-free process. The wallet also offers in-app tutorials and prompts that guide new users step by step.

3. Integrated Exchange and Purchase Options

Guarda goes beyond simple storage. It allows users to buy Bitcoin with a credit card or bank transfer directly in the wallet. You can also swap BTC for other cryptocurrencies without needing to leave the app. These features make Guarda a one-stop-shop for anyone looking to maximize their crypto experience.

4. Multisignature Capabilities and Advanced Features

Guarda Wallet includes multisig functionality, which is especially useful for institutional users or those managing large Bitcoin holdings. Multisig wallets require multiple private keys to authorize a transaction, adding an additional layer of security.

5. Constant Updates and Responsive Support

The development team behind Guarda is highly active and continually updates the platform to support the latest blockchain innovations. They also offer 24/7 customer support, an often-overlooked aspect that elevates Guarda to being the best bitcoin wallet for users who want reliability and peace of mind.

Why Guarda is Also the Best Crypto Wallet Overall

While Bitcoin may be the most well-known cryptocurrency, the world of crypto extends far beyond it. From DeFi tokens to NFTs and smart contracts, the need for a versatile wallet has never been greater. This is where Guarda Wallet shines as the best crypto wallet for managing a wide array of assets.

1. Multi-Asset Support

Guarda Wallet supports more than 50 blockchains and over 400,000 tokens. Whether it’s Ethereum, Litecoin, XRP, Dogecoin, or lesser-known ERC-20 and BEP-20 tokens, you can manage them all in one place. This makes Guarda an ideal solution for diversified crypto portfolios.

2. DeFi Integration

The rise of Decentralized Finance (DeFi) has changed the way users interact with crypto. Guarda integrates seamlessly with DeFi protocols, allowing users to stake, lend, and earn yields directly from the wallet. This makes it not just a storage solution, but a gateway to financial freedom and innovation.

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Economy

NEITI Recovers N7.43bn Debt From Oil, Gas Firms

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NEITI

By Adedapo Adesanya

The Nigeria Extractive Industries Transparency Initiative (NEITI) has announced the recovery of N7.43 trillion (approximately $4.85 billion) from outstanding payments owed by oil and gas companies, following its industry-wide financial disclosures.

The recovery is part of the total $8.26 billion identified in NEITI’s 2021 oil and gas audit report.

This was disclosed by NEITI’s Executive Secretary, Mr Orji Orji, while speaking during a press briefing in Abuja over the weekend, noting that the recoveries demonstrate the agency’s commitment to transparency and accountability in Nigeria’s extractive sector.

The NEITI chief noted that while significant progress has been made in recovering funds, unresolved financial liabilities remain a major concern.

“So far, over $4.85 billion was recovered from the disclosures of $8.26 billion (made by NEITI in its 2021 oil and gas report. In the 2023 industry reports released in September 2024, NEITI disclosed liabilities of $6.175 billion and N66.378 billion, showing a significant decline from the liabilities of 2021 reports, yet worrisome because of the need for government to find resources to fund its 2025 budget,” Mr Orji stated.

He decried that despite NEITI’s efforts to ensure financial accountability in the oil and gas sector, several companies have continued to default on payments.

He called on relevant government bodies, including the Federal Inland Revenue Service (FIRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), to take stronger enforcement actions against defaulters and adopt more stringent measures to prevent future revenue leakages.

“Analyses of how these liabilities, when paid, could support the federal government’s domestic revenue mobilization reveals that the liabilities, when converted at N1,500 to one dollar, would amount to N9.33 trillion.

“The sum is more than the federal government’s total budget for health, education, agriculture and food security, which totaled N8.73 trillion. Further analyses show that the sum is also more than the total budget for national security at N6.11 trillion, health at N2.48 trillion and social welfare of N724 billion all put together. The liabilities can also knock off about 72 per cent of the federal government’s budget deficit of N13 trillion for 2025.”

He called on relevant agencies responsible for collecting these revenues to do what is needed and support our governments at all levels to provide the much-needed infrastructure for our citizens,” he stated.

Mr Orji further disclosed plans to broaden the initiative’s industry-wide reports to include dedicated sections on divestments, forward sales of oil and gas assets, and environmental remediation.

This move, he noted, is aimed at strengthening transparency and accountability in the extractive sector.

He stated that while the agency’s current Beneficial Ownership data is up-to-date as of 2023, more work is needed to deepen engagements and public disclosures on companies acquiring divested assets.

Mr Orji highlighted challenges such as institutional constraints, funding limitations, and resistance to change.

He called for collective efforts from the media, civil society, and stakeholders to ensure that Nigeria’s oil, gas, and mining revenues are managed prudently for the benefit of all citizens.

“Transparency is not just a policy; it is a responsibility. NEITI remains steadfast in ensuring that Nigeria’s extractive revenues are accounted for and utilized effectively,” he added.

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Economy

Nigeria Rakes N7.68trn Exporting Gas Products in 2024

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Floating Liquefied Natural Gas FLNG

By Adedapo Adesanya

Nigeria earned N7.68 trillion from the export of natural gas, liquefied petroleum gas and other gas products in 2024.

This showed an increase of 105.1 per cent from the N3.746 trillion earned from the sale of the commodities in 2023, data from the National Bureau of Statistics (NBS) in its Foreign Trade Statistics for the Fourth Quarter of 2024 noted.

It was revealed that gas export earnings accounted for 9.92 per cent of total exports recorded in the year under review versus the 10.42 per cent posted a year earlier.

Giving a breakdown of gas exports in 2024, the NBS reported that in the first quarter, the country recorded N1.437 trillion, N2.881 trillion was earned in the second quarter, while in the third and fourth quarter of 2024 stood at N35.845 billion and N3.329 trillion, respectively.

In comparison, the NBS stated that the country earned N668.119 billion, N711.1 billion, N1.109 trillion and N1.257 trillion from gas exports in the first, second, third and fourth quarter of 2023, respectively.

The NBS noted that the during the period under review, the country earned N1.943 trillion from natural gas exports, followed by other petroleum gases with N1.117 trillion, while Liquefied Petroleum Gas (LPG) trailed with N269.074 billion.

The agency disclosed that Nigeria exported Liquefied Petroleum Gas valued at N112.71 billion and Natural gas worth N83.655 billion to the Netherlands in the fourth quarter of 2024; while natural gas valued at N135.21 billion was exported to France.

It added that Spain purchased N345.118 billion worth of natural gas from Nigeria and N131.289 billion worth of other petroleum gas, while India purchased other petroleum gas and natural gas valued at N337.085 billion and N209.159 billion, respectively.

In Africa, the NBS noted that Nigeria sold N10.81 billion worth of Liquefied Petroleum Gas to the Ivory Coast in the fourth quarter of 2024.

Based on the entire data, the stats office disclosed that total foreign trade stood at N138.033 trillion in 2024; rising by 106.6 per cent, compared with N66.825 trillion in 2023.

It added that total exports stood at N77.442 trillion in 2024, rising by 115.3 per cent compared with N35.962 trillion in 2023; while total imports stood at N60.59 trillion in 2024, rising by 96.3 per cent from N30.863 trillion recorded in 2023.

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