Feature/OPED
Beyond DIDA’s Call For Partnership With Private Sector
By Jerome-Mario Utomi
Recently, the Director General of the Delta Investment Development Agency (DIDA), Anthony Elekeokwuri, called on serious-minded local and foreign investors to take advantage of the state government’s ease of doing business package.
While noting that the creation of DIDA was instructive of the seriousness attached to fully exploring the investment potentials of the state as MORE agenda of the Sheriff Oborevwori administration had lots of investment opportunities to explore, Tony who made the call in Asaba, the state capital, reportedly assured of a conducive environment to do business in the state, adding that government would assist in land acquisition, provision of safety, ensuring cordial relationship with host communities, as well as grant tax waiver to prospective investors.
Without labour, the most telling evidence that renders the present call by Tony as understandable and validly important is critically signposted in the fact that it is within the preview of DIDA to use every creative means to revive the moribund industries in the state, and if achieved, will create massive employment opportunities in ways that will end the protracted youth unemployment which seems to have visibly defiled every solution in the past.
This is closely followed by the new awareness that the role of the private sector in driving investment and the economy can no longer be substituted as the crushing weight of infrastructural provision and economic diversification has become too heavy for the government alone to carry.
In fact, this second point becomes more appreciated when one commits to mind that the call to development-minded agencies for productive collaboration between private and public sectors on the global stage has become a lingua franca of the sort. A typical example of this fact is the 2030 Sustainable Agenda, which loudly encourages the private sector to partner with the public sector in areas such as; agriculture, oil and gas, power generation, and environmental remediation among others.
However, beyond these peripheral advantages coupled with the accompanying promise by DIDA Boss that the government would assist in land acquisition, provision of safety, ensuring cordial relationship with host communities, as well as grant tax waiver to prospective investors, there are in the opinion this piece, other critical steps that must first be taken by DIDA and state government for critical minds to take the state government seriously in its present bid.
To attract investors, the state government must do more in the area of security provision as it has the capacity to promote an atmosphere of peace, enhance profitability in business, and assist investment to thrive while attracting new ones. For clarity, it is not as if the state has not done anything in the past to secure the state. But looking at commentaries, it is obvious that the state government needs to do more in the interest of Deltans and prospective investors.
The reason for the above demand by this author is not farfetched. It is a well-known truth that as unchained torrents of water submerge the whole countryside and devastate crops, even so, the absence of security within the state will serve to destroy investments and chase away potential investors. This is a reality confronting the state of which the state government must look into and act very fast.
Again, catalysing this needed partnership with the private sector in the race for massive industrialization and economic development of the state will in the opinion of this author, call for a higher level of transparency on the part of the government. Transparency will remain the cornerstone as it will increase the confidence expected by these interventionists’ private sectors who may not be disposed to invest in an environment that is devoid of transparency and accountability.
In a similar vein, to succeed in the present vision, it is important for the state to openly admit and adopt both structural and managerial changes if achieving this agenda is at the centre of our goal. This, to me, will necessitate the state-welcoming approaches that impose more leadership discipline than conventional, and creating government institutions that are less extractive but more innovative in operation.
This shift in action is important as we cannot solve our socio-economic challenges with the same thinking we used when we created it. This time is auspicious for the state government to bring a change in leadership paradigm by switching over to a leadership style that is capable of making successful decisions built on a higher quality of information while dropping the age-long mentality which presents execution as more important than idea incubation.
Very instructive also, finding solutions to other societal problems that hinder business growth in the state and developing a climate of sustainable future and innovation is another critical part of the assignment that needs disciplined attention on the part of the state government if this present call by DIDA is to be achieved.
To make this call and the existence of DIDA most rewarding in the state, this piece holds the opinion that the agency need not wait for local, national or international investors before they act. Tony and his agency must start where they are and with what they have, particularly as the state is dotted with moribund establishments that they can restart without delay. The state must take action as a practical demonstration of sincerity convincing enough for investors to jump in.
As an incentive, a few kilometres away from DIDA’s corporate office is the now-rested Delta state-owned textile mill popularly known as Asaba Textile Mill.
While Deltans wait, one thing is sure, if these establishments are revived, it will appreciably create huge employment and positively add visibility to the reputation of the present administration in the state.
The state government must do this not for political reasons but for the survival of the state’s economy and guarantee the future of her youths. For his part, the state governor must not fail to remember that: “We are in a dire state of strait because unemployment has diverse implications. Security-wise, a large unemployed youth population is a threat to the security of the few that are employed. Also worth committing to mind is Development Professionals’ admonition that any transformation agenda that does not have job creation at the centre of its programme will take us nowhere.”
As we know, youth challenge cuts across, regions, religions, and tribes, and has in the past led to the proliferation of ethnic militia as well as youth restiveness across the country. It is only by engaging these teeming youths through employment creation that the incessant youth restiveness could be abated.
Jerome-Mario, a journalist, writes from Lagos via [email protected]/08032725374
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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