Feature/OPED
10 Takeaways From President Buhari’s Visit To Germany
By Garba Shehu
President Muhammadu Buhari returned to the country after a three-day intensely busy State Visit to Germany which, as is usual with his foreign engagements, was characterized by punishing schedules.
Unfortunately, an important trip such as this one planned to boost trade and investment, enhance security partnership and pitch the country to eager investors became overshadowed by public outcry over some remarks President Muhammadu Buhari made in Germany, which have sadly been misconstrued by the media and some members of the public.
I can assure you that President Buhari’s sense of humour is one of his most distinguishing characteristics, despite his stern mien.
His comments clearly do not reflect his attitude towards women, a number of whom he has appointed into key positions in his administration, neither do they reflect his attitude towards his wife, Hajiya Aisha, as anyone can see from their history together.
President Buhari has been an invaluable support to his wife, and I know that he has great plans for every Nigerian woman.
Five of his daughters have acquired university degrees. One of them just finished law school and another one undertakes a higher degree program.
I hope that all well-meaning Nigerians will put an end to the unfair insinuations that have been generated by President Buhari’s jocularity. Seeing a well-meaning leader being so misunderstood is painful for me.
Let us hope that God continues to give him the grace and wisdom he requires to steer Nigeria through this difficult time in our country’s history.
In the course of this historic visit, he held formal talks with Chancellor Angela Merkel, a roundtable with the German President Joachim Gauck, a meeting with business leaders and an interactive session with Nigerians resident in Europe. A number of side, but equally important meetings were dotted in-between these.
Three big-ticket items on President Buhari’s Berlin agenda were security, trade and investment, climate change and its consequences for the Nigerian eco-space. A breakthrough was achieved in all areas covered by the discussions.
Bilateral relations:
Chancellor Merkel was the first leader of a major economic power in the world to have foreseen what a Muhammadu Buhari administration would mean to Nigeria, Africa and the world. As Chairperson of the “G 7” group of industrialized nations, she extended a hand of fellowship to him upon his victory in the 2015 elections. She asked him to be ready with his wish list and be present at the G 7 meeting to brief its leaders.
Since that time, there had been a big demand for President Buhari all over the world, a demand that our officials in Foreign Affairs insisted must be cashed on or else we missed the opportunity.
President Gauck came here in February at the head of a business delegation, a visit that pushed the existing relations up by several notches as manifested by the setting up of a one-stop investment centre to facilitate foreign investment and partnerships.
Germany has also proposed a twining of two cities, Lagos and Frankfurt to facilitate the sharing of experience, meeting of businesses, trade and investment as well as exchange of visits by officials.
In the course of the visit by President Gauck, a pledge by the EU to spend fifty million Euro (€50 m.) against terrorism in the Lake Chad basin area was announced.
President Buhari’s state visit brought closer the relationship between Nigeria and Germany in addition to breakthroughs in several areas of negotiations.
Business/Investments:
The other key success area is investment. The President and his team held a highly successful business forum which had in attendance over 100 Nigerian and German business leaders with interests in industries across Manufacturing, Information Technology, Healthcare, Construction, Training, Agro processing, Power, Mining and Consumer businesses
In a speech at the meeting, President Muhammadu Buhari decried the current low level of trade and investment between both countries and Nigeria’s openness for business and long-term investment from Germany. He highlighted the steady work of renewal that has started in the country and the progress that is being recorded in the government’s pillars of security, governance and the economy.
He also presented a strong case on Nigeria’s compelling fundamentals and stated the priority sectors of the government in which investments are being sought as being Agriculture, Industrialization, Solid Minerals, Digital Economy and Infrastructure, especially power generation.
The biggest gypsum producer in the world has already obtained an exploration license for the mineral and is looking to commence local production in Nigeria. A well-known consumer brand with over 50,000 employees worldwide is considering production of its laundry detergent locally. The company has already invested $250 million locally, with 900 employees. The transition to local production will significantly increase the number of Nigerians employed.
A Nigerian-based pharmaceutical company in partnership with a German conglomerate is also to commence a renal testing business in Nigeria before the end of the year
Finance:
The President stated that the Nigerian Development Bank will soon commence operations to help provide additional funding to the Small and Medium-Scale Enterprises (SMEs). As a large contributor to the economy, funding to the SMEs will help spur inclusive economic growth. He thereafter charged government officials and the business community to enhance the process of achieving tangible results that are mutually beneficial to both countries
Economic relations:
A significant takeaway from the Presidential engagement in Germany is the agreement to give vocational skills training to thousands of our youth.
Germany is always known to be a strong developer of apprentice skills. In addition to their reputation for quality education, the distinguishing feature of the German economy is that emphasis on skill development.
What President Buhari got from this trip is a commitment by Germany to share with Nigeria their skills in agriculture, IT, telecommunications, machinery, aviation, vehicles, healthcare, construction and so forth.
As part of the steps towards imparting the vocational skills, there will be collaboration between the German Engineering Federation (VDMA) and a Nigerian conglomerate to build a technical school for artisans. The school will train Nigerians for three years, of which 50percent of the time will be spent in the school and the remaining 50percent of the time spent gaining practical experience. This model will be scaled up for the other parts of the country based on the success of this cooperation.
Agriculture:
Nigeria and Germany had useful discussions on a program of food processing locally, rice and oil milling with the aim of leavening that country’s experience in a new plan by the administration to create wealth in rural communities.
There also plans for a financing fund for agriculture in Nigeria to assist small and medium size entrepreneurs and cooperatives in the agricultural sector.
Energy/Power:
A renewable power company with advanced and affordable solar technologies is going to commence operations in Nigeria. The company is headed by a Nigerian and have commenced the ground-work to commence operations early next year.
Following the MOU at the Bi-national Commission, agreements were also struck for energy partnership in renewable energy. Several states characterized by hot weather, mostly in North have signed for solar Independent Power Project, IPPs. A 30 Megawatt power plant is coming up in Adamawa while Bauchi, Benue, Gombe, Kano, Kaduna, Sokoto, Katsina and some others are on the queue.
Security:
Germany has offered Nigeria support in the war against terrorism with mine detectors, radar equipment and a field hospital.
Chancellor Merkel also pledged increased involvement of Germany in supporting Internally Displaced Persons, IDPs and the reconstruction of their destroyed communities.
Immigration:
Another key area of cooperation is immigration.
There are thousands of illegal immigrants from Nigeria currently in Germany. On their records, 20,000 Nigerians enter their country each year. This is a sore issue for Germany. Of these numbers, only about nine percent of those who enter clandestinely qualify for legal asylum. To deal with the issue, they have indicated to Nigeria their willingness to train all prospective deportees in skills they can use back at home. In addition to this, two other Nigerians will be given free vocational training for every one deported illegal immigrant.
Climate Change:
President Buhari never missed an opportunity to make a pitch for the recharging of the Lake Chad, now only ten percent of its original size, whenever he met the leaders of rich countries.
He has been persuaded a long time ago that the best way to save the lake Chad and the people who inhabit its basin from the corrosive effect of climatic change is to divert water from the Congo Basin to the Lake Chad.
A study financed by Nigeria indicated that USD 15 Billion will be needed to do this but it is the kind of money that neither this country nor its neighbors can muster.
Having successfully established that the climate change has a lot to do with the drastic decline of livelihoods in the area and is at the root cause of the Boko Haram insurgency, the President is convinced that recharging the Lake is no longer the sole business of the Lake Chad Basin countries but that of the wider world.
Given her commitment to saving the environment, Chancellor Merkel had shown keenness in the project and is willing to be a part of the effort.
Her reported earmarking of €18 billion for the project was misconstrued from her speech. After a repeated playback of the speech, the same conclusions were unfortunately drawn. Angela Merkel’s commitment is however to the tune of €18 million on the Nigerian side and the rest €32 million to the rest of the Lake Chad basin countries, with all of the money coming from the European Fund. Nevertheless eighteen Million to support ongoing efforts in the North East is still a mouthwatering amount.
New and Pending Issues:
The Nigerian delegation also had useful discussions on road and rail development, gas exploration, equipment and surveillance for the protection of oil and gas infrastructure in Niger Delta, upgrading of Defense Industries Corporation, DICON, cooperation in rule of law and polio eradication.
Last but not the least, the President used a moment of his time in Germany to act his role a Commander-in-Chief by paying a visit to a recuperating army officer injured in the course of duty in the North East.
Mr Garba Shehu is the Senior Special Assistant to the President on Media and Publicity
By Luke Kyohere
The global payments landscape is undergoing a rapid transformation. New technologies coupled with the rising demand for seamless, secure, and efficient transactions has spurred on an exciting new era of innovation and growth. With 2025 fast approaching, here are important trends that will shape the future of payments:
1. The rise of real-time payments
Until recently, real-time payments have been used in Africa for cross-border mobile money payments, but less so for traditional payments. We are seeing companies like Mastercard investing in this area, as well as central banks in Africa putting focus on this.
2. Cashless payments will increase
In 2025, we will see the continued acceleration of cashless payments across Africa. B2B payments in particular will also increase. Digital payments began between individuals but are now becoming commonplace for larger corporate transactions.
3. Digital currency will hit mainstream
In the cryptocurrency space, we will see an increase in the use of stablecoins like United States Digital Currency (USDC) and Tether (USDT) which are linked to US dollars. These will come to replace traditional cryptocurrencies as their price point is more stable. This year, many countries will begin preparing for Central Bank Digital Currencies (CBDCs), government-backed digital currencies which use blockchain.
The increased uptake of digital currencies reflects the maturity of distributed ledger technology and improved API availability.
4. Increased government oversight
As adoption of digital currencies will increase, governments will also put more focus into monitoring these flows. In particular, this will centre on companies and banks rather than individuals. The goal of this will be to control and occasionally curb runaway foreign exchange (FX) rates.
5. Business leaders buy into AI technology
In 2025, we will see many business leaders buying into AI through respected providers relying on well-researched platforms and huge data sets. Most companies don’t have the budget to invest in their own research and development in AI, so many are now opting to ‘buy’ into the technology rather than ‘build’ it themselves. Moreover, many businesses are concerned about the risks associated with data ownership and accuracy so buying software is another way to avoid this risk.
6. Continued AI Adoption in Payments
In payments, the proliferation of AI will continue to improve user experience and increase security. To detect fraud, AI is used to track patterns and payment flows in real-time. If unusual activity is detected, the technology can be used to flag or even block payments which may be fraudulent.
When it comes to user experience, we will also see AI being used to improve the interface design of payment platforms. The technology will also increasingly be used for translation for international payment platforms.
7. Rise of Super Apps
To get more from their platforms, mobile network operators are building comprehensive service platforms, integrating multiple payment experiences into a single app. This reflects the shift of many users moving from text-based services to mobile apps. Rather than offering a single service, super apps are packing many other services into a single app. For example, apps which may have previously been used primarily for lending, now have options for saving and paying bills.
8. Business strategy shift
Recent major technological changes will force business leaders to focus on much shorter prediction and reaction cycles. Because the rate of change has been unprecedented in the past year, this will force decision-makers to adapt quickly, be decisive and nimble.
As the payments space evolves, businesses, banks, and governments must continually embrace innovation, collaboration, and prioritise customer needs. These efforts build a more inclusive, secure, and efficient payment system that supports local to global economic growth – enabling true financial inclusion across borders.
Luke Kyohere is the Group Chief Product and Innovation Officer at Onafriq
In a heartfelt statement released today, the Conference of Nigeria Political Parties (CNPP) has extended its warmest congratulations to Ghana’s President-Elect, emphasizing the importance of learning from Ghana’s recent electoral success as Nigeria gears up for its 2027 general elections.
In a statement signed by its Deputy National Publicity Secretary, Comrade James Ezema, the CNPP highlighted the need for Nigeria to reclaim its status as a leader in democratic governance in Africa.
“The recent victory of Ghana’s President-Elect is a testament to the maturity and resilience of Ghana’s democracy,” the CNPP stated. “As we celebrate this achievement, we must reflect on the lessons that Nigeria can learn from our West African neighbour.”
The CNPP’s message underscored the significance of free, fair, and credible elections, a standard that Ghana has set and one that Nigeria has previously achieved under former President Goodluck Jonathan in 2015. “It is high time for Nigeria to reclaim its position as a beacon of democracy in Africa,” the CNPP asserted, calling for a renewed commitment to the electoral process.
Central to CNPP’s message is the insistence that “the will of the people must be supreme in Nigeria’s electoral processes.” The umbrella body of all registered political parties and political associations in Nigeria CNPP emphasized the necessity of an electoral system that genuinely reflects the wishes of the Nigerian populace. “We must strive to create an environment where elections are free from manipulation, violence, and intimidation,” the CNPP urged, calling on the Independent National Electoral Commission (INEC) to take decisive action to ensure the integrity of the electoral process.
The CNPP also expressed concern over premature declarations regarding the 2027 elections, stating, “It is disheartening to note that some individuals are already announcing that there is no vacancy in Aso Rock in 2027. This kind of statement not only undermines the democratic principles that our nation holds dear but also distracts from the pressing need for the current administration to earn the trust of the electorate.”
The CNPP viewed the upcoming elections as a pivotal moment for Nigeria. “The 2027 general elections present a unique opportunity for Nigeria to reclaim its position as a leader in democratic governance in Africa,” it remarked. The body called on all stakeholders — including the executive, legislature, judiciary, the Independent National Electoral Commission (INEC), and civil society organisations — to collaborate in ensuring that elections are transparent, credible, and reflective of the will of the Nigerian people.
As the most populous African country prepares for the 2027 elections, the CNPP urged all Nigerians to remain vigilant and committed to democratic principles. “We must work together to ensure that our elections are free from violence, intimidation, and manipulation,” the statement stated, reaffirming the CNPP’s commitment to promoting a peaceful and credible electoral process.
In conclusion, the CNPP congratulated the President-Elect of Ghana and the Ghanaian people on their remarkable achievements.
“We look forward to learning from their experience and working together to strengthen democracy in our region,” the CNPP concluded.
By Kenechukwu Aguolu
The proposed tax reform, involving four tax bills introduced by the Federal Government, has received significant criticism. Notably, it was rejected by the Governors’ Forum but was still forwarded to the National Assembly. Unlike the various bold economic decisions made by this government, concessions will likely need to be made on these tax reforms, which involve legislative amendments and therefore cannot be imposed by the executive. This article highlights the purposes of taxation, the qualities of a good tax system, and some of the implications of the proposed tax reforms.
One of the major purposes of taxation is to generate revenue for the government to finance its activities. A good tax system should raise sufficient revenue for the government to fund its operations, and support economic and infrastructural development. For any country to achieve meaningful progress, its tax-to-GDP ratio should be at least 15%. Currently, Nigeria’s tax-to-GDP ratio is less than 11%. The proposed tax reforms aim to increase this ratio to 18% within the next three years.
A good tax system should also promote income redistribution and equality by implementing progressive tax policies. In line with this, the proposed tax reforms favour low-income earners. For example, individuals earning less than one million naira annually are exempted from personal income tax. Additionally, essential goods and services such as food, accommodation, and transportation, which constitute a significant portion of household consumption for low- and middle-income groups, are to be exempted from VAT.
In addition to equality, a good tax system should ensure equity and fairness, a key area of contention surrounding the proposed reforms. If implemented, the amendments to the Value Added Tax could lead to a significant reduction in the federal allocation for some states; impairing their ability to finance government operations and development projects. The VAT amendments should be holistically revisited to promote fairness and national unity.
The establishment of a single agency to collect government taxes, the Nigeria Revenue Service, could reduce loopholes that have previously resulted in revenue losses, provided proper controls are put in place. It is logically easier to monitor revenue collection by one agency than by multiple agencies. However, this is not a magical solution. With automation, revenue collection can be seamless whether it is managed by one agency or several, as long as monitoring and accountability measures are implemented effectively.
The proposed tax reforms by the Federal Government are well-intentioned. However, all concerns raised by Nigerians should be looked into, and concessions should be made where necessary. Policies are more effective when they are adapted to suit the unique characteristics of a nation, rather than adopted wholesale. A good tax system should aim to raise sufficient revenue, ensure equitable income distribution, and promote equality, equity, and fairness.
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