Feature/OPED
Economic Diversification and Nigeria’s Feeble Attempts

By Jerome-Mario Utomi
It is no longer news that across the globe, there exists persistent call on nations, regions and continents to shift toward a more varied structure of domestic production and trade as it is not only a strategy to encourage positive economic growth and development but with a view to increasing productivity, creating jobs and providing the base for sustained poverty-reducing growth.
What has however caused concern is the paltry number of nations and leaders particularly in Africa as a continent that has keyed into such relentless calls.
Adding fillip to the above worry/claim is the well quoted World Bank Group report which among other observations noted that economic diversification remains a challenge for most developing countries and is arguably greatest for countries with the lowest incomes as well as for those whose economies are small, landlocked and/or dominated by primary commodity dependence.
It submitted that for such countries, economic diversification is inextricably linked with the structural transformation of their economies and the achievement of higher levels of productivity resulting from the movement of economic resources within and between economic sectors.
Take Africa as an example, aside its inability to diversify which has made it aid receiving continent, continually look up to continents such as; Asia, Europe and America for aid after almost 60 years of independence, the failure, in my view, explains why Africa as a continent despite being the second most-populated continent in the world (1.2 billion people), represents only 1.4% of the world Manufacturing Value added in the first quarter of 2020.
Also, the effect of the continent failure to diversify is signposted in the painful reality that out of about 54 countries that made up the continent, only South Africa qualified as a member of BRICS, an acronym coined for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.
While the piece laments this challenge, it is relevant to the present discourse to underline that this tragedy is well-rooted in, and has spread its wings in Nigeria as a country.
To illustrate this claim, as part of the transformation agenda, reports have it that former President Goodluck Ebele Jonathan through his Coordinating Minister, Dr Ngozi Okonjo Iwuala, now Director-General, World Trade Organization (WTO) emphasized the need for the diversification of the economy to promote inclusive growth and job creation.
The administration aimed at achieving the objective through investment in agriculture, housing and construction, manufacturing, aviation, power, roads, rail solid minerals and the information and communication technology (ICT) sectors by both government and the private sector. These sectors the report added would gradually transform the economy and create jobs in the process as well as move the economy in the right direction.
Sadly but expected, the ideas and pontifications, like those of his predecessors, ended not just in the frames but as a mere declaration of intent.
Nevertheless, before getting into the nitty-gritty of economic decays in the present government particularly its long history of inabilities to come up with, and implement a well-foresighted plan or execute a shift toward a more varied structure of domestic production and trade, let’s cast a glance at January 2020 policy comment by one of the well-respected newspaper in Nigeria.
Specifically, while lamenting (then) that Nigeria is a country that services its debt with 50% of its annual revenue, the report noted that the country would be facing another round of fiscal headwinds this year (2920) with the mix of $83 billion debt; rising recurrent expenditure; increased cost of debt servicing; sustained fall in revenue; and about $22 billion debt plan waiting for legislative approval.
It added that it may be worse if the anticipated shocks from the global economy, like Brexit, the United States-China trade war and the interest rate policy of the Federal Reserve Bank go awry. The nation’s debt stock, currently at $83billion, comes with a huge debt service provision in excess of N2.1 trillion in 2019 but is set to rise in 2020.
This challenge stems from the country’s revenue crisis, which has remained unabating in the last five years, while the borrowings have persisted, an indication that the economy has been primed for recurring tough outcomes, the report concluded.
Unfortunately, because no one acted on those warnings, the next paragraph lays bare the consequence of such failure and failure by the Federal Government.
Recently, a report noted that the Federal Government made a total of N3.25tn in 2020, and out of which spent a total of N2.34tn on debt servicing within the year. This means that 72 per cent of the government’s revenue was spent on debt servicing.
It also puts the government’s debt servicing to revenue ratio at 72 per cent. According to the report, a review of the budget performance of the 2020 Appropriation Act In 2019 shows that the Federal Government made total revenue of N3.86tn. Within the year, debt servicing gulped N2.11tn.
This puts the Federal Government’s debt servicing to revenue ratio in 2019 at 54.66 per cent. This means that between 2019 and 2020, the Federal Government’s debt servicing to revenue ratio jumped from 54.66 per cent to 72 per cent. The report concluded
Indeed, the question may be asked why the country’s revenue crisis remained unabated in the last six years.
Within the context, the answer lies in the fundamental recognition that there is a country reputed for crude oil dependence and laced with a leadership system devoid of accountability, transparency and accuracy.
The truth is that considering the slow-growing economy but scary unemployment levels in the country, the current administration in my opinion will continue to find itself faced with difficulty accelerating the economic life cycle of the nation until they contemplate industrialization, or productive collaboration with private organizations that have surplus capital to create employment.
Another alternative recourse will probably be to move part of the job creation functions and infrastructural provision/development to the state and local government authorities via restructuring/structural interventions. While the first option (industrialization) may offer a considerable solution, the second and third options (restructuring/productive collaboration with private organizations) have more potential reward in political and socio-economic terms as well as come with reduced risk.
To achieve such a feat, power (electricity) and other infrastructure roads need to be addressed. Notably, not doing any of this, or continuing on the low growth of the economy will amplify the painful consequence of strategic mistakes made by previous administrations that failed to invest during the period of rapid economic growth.
The very key, both the state and Federal must invest in agriculture and increase its capacity in ways that will bring about an essential element of productivity policy and require a double focus on improving the quality of governance, strengthening government capacity to resolve coordination failures and facilitate information collection, as well as improving the design of interventions along the line of robustness to weak information, implementation capacity, and political-economic issues.
We must not fail to remember that ‘in the 1960s and immediately before the oil boom of the 1970s, agriculture contributed 60% to Nigeria‘s Gross Domestic Product (GDP), 70% to export, and 95% to food needs’.
Above all, our leaders must internalize the fact that revenue diversification from what development experts are saying will provide options for the nation to reduce financial risks and increase national economic stability: As a decline in particular revenue source might be offset by an increase in other revenue sources.
Jerome-Mario Utomi is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), Lagos. He could be reached via jeromeutomi@yahoo.com/08032725374.
Feature/OPED
Why President Bola Tinubu Has the Edge in Retaining Power in 2027

By Kenechukwu Aguolu
As the year 2027 draws closer, political manoeuvrings and calculations are already underway across Nigeria. The landscape is expected to shift, with new alliances and coalitions forming among political actors and parties. However, in my view, the chances of the current administration retaining power in 2027 remain high, and several compelling reasons support this assertion.
First and foremost, the All Progressives Congress (APC), the party currently in power, stands as the most formidable political force in the country. The APC boasts an unrivalled structure, a stable leadership, and the highest membership among all political parties. With the largest number of serving governors and National Assembly members, the party is firmly entrenched in all corners of the nation. These factors alone give the APC a significant advantage as it gears up for the 2027 presidential elections.
Under the leadership of President Bola Tinubu, the current administration has displayed a deep sense of patriotism and a clear vision for Nigeria’s future. While the reforms introduced by the government came with initial challenges, these difficulties are gradually easing, and the results are becoming increasingly evident. Prices of goods and services are steadily dropping, and the Naira is beginning to show signs of recovery.
The government’s efforts to diversify the economy are also bearing fruit, with initiatives such as the revival of the Ajaokuta Steel Company and ongoing reforms in the mining sector. By 2027, the dividends of these economic reforms will be more apparent, and the public will be able to feel their positive impact. These successes will work in the administration’s favour and could solidify the APC’s hold on power.
Infrastructure and security have been at the forefront of the government’s priorities. Significant improvements in power generation have already been made, and efforts to tackle insecurity have begun to show positive results, albeit gradually. Furthermore, the government is investing heavily in road construction, including vital projects like the Lagos-Calabar Expressway.
These infrastructural developments are not just for show—they will stimulate economic activities across the country, create jobs, and enhance the living standards of Nigerians. If these trends continue, it will be hard for any political opponent to deny the progress made under the current administration.
Perhaps the most critical factor in the APC’s favour is the leadership of President Tinubu himself. With his personality, widespread followership, and experience, he stands as a political giant in Nigeria. His leadership has been marked by a strong sense of purpose and determination, and his vast network of supporters spans across different regions of the country.
While some may argue that time will tell who will emerge as a viable challenger to President Tinubu, it’s difficult to imagine any politician currently being touted as a credible candidate who could match his national appeal and charisma. The nature of Nigerian politics means that any potential challenger would need to command significant nationwide support to pose a real threat to the APC’s grip on power.
Looking ahead to the 2027 presidential election, I believe it will be much easier for President Tinubu to secure re-election than it was in 2023. His leadership performance, coupled with the robust support of the APC, places him in a strong position for victory. While unforeseen events may shape the political landscape over the next few years, the factors already in play suggest that the current administration is well-positioned to retain power.
Feature/OPED
Collaboration Made Easy Using a Work Management Platform

By Firas Jadalla
Effective collaboration between security operators, teams, and other departments is essential for the smooth functioning of any organization. However, as organizations grow in complexity, it becomes increasingly challenging for teams to coordinate. Factors such as staffing shortages, high turnover rates, and outdated collaboration tools exacerbate these challenges.
When staff rely on multiple disconnected tools for dispatch, reporting, and task tracking, operations often become fragmented, leading to delays and gaps in communication. In critical areas like safety and security, these inefficiencies can have serious consequences.
Work management solutions bridge these gaps by managing, tracking, and documenting activities, streamlining processes, and fostering real-time collaboration. Built specifically for security teams, these solutions enhance communication, boosts productivity, and improves overall operational efficiency through workflow automation.
Organizations in Africa and the Middle East operate in high-security environments where seamless collaboration is essential. A robust work management platform enables swift response and coordination across complex operational landscapes.
This growing need for integration is driving more organizations to align their security and IT departments. According to a recent Genetec report, 78% of end users in the META region indicate that these departments now work collaboratively, reflecting a shift toward a more unified security approach.
Overcoming barriers to effective collaboration
Over time, many organizations accumulate a patchwork of databases, spreadsheets, and standalone systems to communicate, create reports, and track activities. Some still rely on outdated paper-and-pen processes, which aren’t only time-consuming but also prone to errors. These disjointed methods hinder information sharing and coordination.A digital work management platform consolidates these fragmented systems, offering teams a unified view of activities accessible on both desktop and mobile devices. To take full advantage of their security system data, security teams need to consider more than a generic work management solution.
An ideal work management solution for security teams should accommodate security activities such as guard tours, patrols, and maintenance inspections. It should also seamlessly integrate with existing security systems. For instance, a video operator should be able to create a work request with an attached camera snapshot and route it to the appropriate team in just a few clicks. To ensure trustworthy audits and reporting, the work management system should be built with strong cybersecurity measures and ensure that data can’t be manipulated after the fact by applying blockchain principles.
Benefits of work management systems
Implementing a work management system can transform security operations in several ways:
- Improved Communication: Teams gain real-time visibility into task progress, responsibilities, and pending assignments. Updates and alerts can be shared seamlessly to request assistance or provide situational awareness.
- Enhanced Collaboration: Every team member contributes to shared goals rather than isolated tasks. Custom API integrations can connect with other systems, such as employee apps, further fostering teamwork.
- Time Savings: Built-in reporting tools automate activity logs and compliance audits, freeing up time for other critical tasks.
- Operational Efficiency: Routine tasks, incident management, and resource tracking are streamlined. Tasks are assigned to personnel with the appropriate skills, tools, and knowledge, ensuring readiness and precision.
- Workflow Automation: Automations simplify recurring tasks, such as setting reminders, generating reports, or notifying team leads when new requests are added.
- Resource Optimization: Features like work ticketing and asset management enable efficient resource allocation and management of internal and external requests.
- Mobile Support: Field officers benefit from mobile apps that enhance situational awareness, communication, and access to standard operating procedures on the go.
Today, governments in Africa, for instance, are heavily investing in smart security solutions as part of their national digital transformation strategies. A centralized work management platform not only supports these efforts but also helps businesses align with evolving security regulations, ensuring compliance and streamlining reporting processes.
Tips for successful implementation
Every organization has unique workflows, so selecting a customizable work management system is crucial. It’s important to choose a solution that’s customizable and intuitive to minimize the need for extensive training.Integration is another key factor.
A platform that deeply integrates with your existing security ecosystem provides a cohesive view of operations and eliminates the need for manual data transfers or redundant processes.A well-designed work management system can break down silos, empower teams, and boost efficiency. To ensure a successful deployment, adopt a lean and agile approach: start small and gradually incorporate more features as your team becomes comfortable with the platform.
With initiatives like Kenya’s Konza Techno City, Nigeria’s Eko Atlantic City and Abuja Centenary City, organizations are increasingly integrating AI-driven security and IoT-enabled monitoring into their operations. A work management platform with automation capabilities supports these advanced security frameworks.
Firas Jadalla is the regional director for Middle East, Turkey & Africa at Genetec Incorporated
Feature/OPED
From Struggle to Stability: How FinTech is Helping Nigerian SMEs Overcome Cash Flow Challenges

When Mrs Agbaje started her school in Ibadan twelve years ago, she didn’t envision a tech-enabled future. Her dream was simple—provide affordable, quality education to children in her community. For the most part, she made it work. But as the school grew, a new challenge took root. It wasn’t infrastructure. It wasn’t teacher retention. It was something far more basic: getting paid.
Each new term brings the same pattern. Parents promise to pay fees “by next week.” Some follow through. Many don’t. As the term wears on, Mrs Agbaje finds herself juggling spreadsheets, reminder texts, and awkward conversations in car parks or at school gates. Meanwhile, salaries must be paid, books restocked, diesel bought. More often than not, she dips into personal savings to keep things running.
Her story is common across Nigeria. Small businesses—whether they’re schools, salons, logistics firms, or cooperative groups—are constantly navigating the emotional and financial toll of delayed payments. And it’s not just a matter of inconvenience. A recent study by MacTay Consulting found that Nigerian SMEs wait between 60 to 120 days on average to receive payment for services or products already delivered. That kind of delay is more than a hiccup. It threatens livelihoods. It blocks growth. It’s a silent killer.
For Chuks, who runs a car hire service in Enugu, the issue is tied to his bigger corporate clients. They insist on “net 30” or “net 60” terms—industry-speak for “we’ll pay you in a month or two.” That might be manageable for a large fleet with strong cash reserves, but for someone like Chuks, every week matters. With fuel prices rising and maintenance bills stacking up, he’s often forced to park cars because he doesn’t have the cash to fix them—even when work is lined up.
What links these stories is the reality that small businesses operate in a system where money is constantly in motion but rarely on time. Customers often mean well, but their own financial instability creates a domino effect. And the existing tools to manage payments—handwritten ledgers, POS machines, WhatsApp reminders—were never designed for structure. They’re patched solutions to a systemic problem.
Even digital banking, for all its advancement in Nigeria, hasn’t solved this issue. Many SMEs still operate informally, managing finances through personal bank accounts or apps not tailored to business needs. The result is a messy web of follow-ups, reconciliations, and emotional strain. Business owners become debt collectors, chasing down what they’ve already earned, time and time again.
What’s often missed in conversations about entrepreneurship is just how deeply this problem cuts. Payment delays mean rent can’t be paid on time. It means holding off on hiring a new staff member, or letting go of a part-time assistant. It means saying no to growth opportunities, not because they’re not viable, but because the cash flow isn’t predictable enough to take the risk.
And when you zoom out, the implications are national. Small businesses make up over 90% of enterprises in Nigeria. They contribute nearly half of the country’s GDP and employ a significant portion of the workforce. Yet, their greatest enemy isn’t market competition—it’s irregular income. This is a structural inefficiency that deserves far more attention than it gets.
Slowly, however, change is beginning to show. A quiet revolution is underway—one where technology is stepping in not as a trend, but as a tool for financial stability. More SMEs are beginning to explore digital solutions that streamline payments and reduce friction between businesses and customers.
Among these solutions is PaywithAccount, a new tool launched by Nigerian fintech company OnePipe. Designed specifically for businesses with recurring payments—schools, cooperatives, service providers—it allows them to automate collections directly from customers’ bank accounts. With full consent and transparency, payments can be scheduled, reducing the need for repeated follow-ups or awkward reminders.
For Mrs Agbaje, this has made a significant difference. Parents receive structured payment plans, reminders go out automatically, and debits happen based on prior agreement. She now spends less time tracking who has paid and more time planning curriculum upgrades and engaging with teachers.
The benefit isn’t just financial—it’s emotional. When business owners don’t have to chase payments, they gain time, clarity, and confidence. They can plan ahead, restock inventory, or finally invest in that expansion they’ve put off for years. And for customers, the experience feels more professional, more trustworthy. Everyone wins.
Technology won’t solve every problem for Nigerian SMEs. But smart, well-designed financial tools are starting to remove some of the biggest roadblocks—quietly and effectively. And that’s the point. The best systems aren’t flashy. They work in the background, reducing stress, restoring dignity, and enabling business owners to focus on what truly matters.
For Ope Adeoye, founder of OnePipe, the issue is personal. “Every Nigerian knows someone who runs a business—a cousin, a friend, a neighbour. When they suffer from late payments, it affects whole families and communities. Fixing this isn’t just a business goal—it’s a social one.”
In a country as dynamic and entrepreneurial as Nigeria, the challenge is rarely about lack of ideas. It’s about systems that help those ideas survive. And one of the most overlooked systems is the way money flows—or fails to.
As more SMEs embrace tools that put payment on autopilot, a future of stability—rather than constant survival—starts to feel possible. And in a nation powered by small businesses, that kind of shift could move mountains.
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