Feature/OPED
Genetically Modified Foods: Business, Feeding and Public Concerns
By Timi Olubiyi, PhD
The common social concerns are the high mortality rate, poverty and malnutrition in the country. But for the concerns that bother on health, the advice is usually to reduce fats, cholesterols and sugar intake, improve on nutrition and good diet, do not smoke and so on to avoid health issues.
However, the fact is food is about health and healthy living, but less is heard about the need to promote organic food eating, in a world where innovation is now widespread in Agric-Business and farming, with the genetical engineering of crops and foods.
Genetically Modified (GM) foods are foods that are produced from genetically modified organisms (GMO) that have had their DNA altered through genetic engineering.
Genetic modification, also known as genetic engineering, simply means having the DNA of crops and foodstuffs altered using genes from other plants or animals to achieve specific aims.
Scientists take the gene for the desired trait in one plant or animal, and they insert that gene into a cell of another plant or animal. So, with this in mind, the natural ways of growing crops and even mating by animals can be bypassed for commercial and business gains. This concept is quite different from the conventional gestation period and natural farm harvest time.
Scientists take the gene or seed for a desired trait (colour, flavour, texture, early maturation, greater yield and bigger output) in one plant or animal, and they insert that gene into a cell of another plant or animal to produce the specific and desired results.
I am made to understand that the benefits of this innovation in agriculture include better taste, a longer shelf life, better nutrition and quality; increased profit for growers; virus and insect resistance; herbicide tolerance, and increased food yield to alleviate hunger.
Furthermore, the key benefit of this trend is mainly for multiple productions of food, though many fish or chicken can mature more quickly with this innovation as well, with the hope of lowering costs, with fewer environmental resources (such as water and fertilizer).
The big question and concern are who regulates this process in the country? A place where shortcuts, dumping, profiteering at every cost are the order of the day, this should be a cause for concern.
I have seen first-generation products such as oranges without seeds, corn with less harvesting period, plastic-looking tomatoes, bananas and plantains looking like toys, chicken ready for consumption in three months and a host of others mainly due to commercialization. The main motive is for the profitability of the businesses that are involved in the enhanced food production.
Enhanced food production through genetic modification of the foods may be everywhere considering the economic woes, shrinking disposable income and the poor affordability of many. But is there any quality check or control on all these genetically modified foods that are freely available in the markets?
Who monitors the health implications if any? Businesses may just be feeding the poor, the hungry with this process without any scientific checks.
In fact, many consuming these foods may not necessarily be aware of the makeup of the foods or be aware that they are actually consuming genetically modified foods.
A quick survey to understand the viewpoints of consumers on genetically modified foods indicated that many were unaware of the concept in agriculture or farming.
In fact, a large number close to 90% of those surveyed have no idea what the concept means. The answer from most of them was” I am just hearing about it for the first time”. This is the key reason for this piece, to bring awareness to the growing trend of foods that are genetically modified, and the need to provide guidelines, improve food safety, to avoid potential harm and cases of unknown sicknesses in the world and indeed Nigeria. Though the concept could make food available commercially and could make for better yield compare to traditional breeding, the important thing is the quality control and the need to certify it fit for consumption before production on a commercial scale because like all new technologies, such foods may also pose some risks, both known and/or unknown.
In a country where many shun moral and ethical values much is expected from the Research Institutes, National Agency for Food and Drug Administration and Control (NAFDAC), Consumer Protection Council and other sister agencies to regulate, control and set standards for genetically modified foods.
Although there has been no evidence of detrimental or toxic effects from the use of genetically modified foods in the country, the truth is that no one can predict all its consequences.
Currently, the public knowledge is weak and farmers, food retailers, restaurants and caterers rarely inform customers or consumers of the foods, crops or ingredients, they deal with, or whether it contains genetically modified organisms or not, because currently, no law compels them to do so.
Even though the production of genetically modified foods involves tampering with nature, the entrepreneurs, businesses and farmers involved in such production claim that these foods are safe and have no side effects.
Conversely, in my opinion genetically modified foods represent a significant innovation and commercial breakthrough in the Agric-Business, therefore to a high degree, abundant harvests and profitability may just be the key drive, so there is a need to regulate.
So, effective regulations, standard guidelines and the need to have genetically modified food regulations in the country are expedient. I am just concerned and I think many too should be, over the safety of the food we consume and the health implications because the majority are poor and what is affordable might not be right for consumption.
Nevertheless, genetically modified foods have entered our food basket largely via imports or due to the cultivation of genetically modified food crops, it is still right for the apex food regulators in the country to carry out safety assessments because this is central in ruling out fear, uncertainty, and doubt (often shortened to FUD) in consumers and citizenry going forward.
In conclusion, government and the regulators must set up a system for regulating both domestically produced and imported genetically modified food products, because Australia, Brazil, the European Union and others do regulate genetically modified food, Nigeria needs to do so too without exceptions. Good luck!
How may you obtain advice or further information on the article?
Dr Timi Olubiyi is an Entrepreneurship & Business Management expert with a PhD in Business Administration from Babcock University Nigeria. He is also a prolific investment coach, seasoned scholar, Chartered Member of the Chartered Institute for Securities and Investment (CISI), and a Securities and Exchange Commission (SEC) registered capital market operator. He can be reached on the Twitter handle @drtimiolubiyi and via email: [email protected], for any questions, reactions, and comments
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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