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LCCI Urges Tinubu On Positive National Orientation Amid Economic Crisis

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LCCI CBN

By Adedapo Adesanya

The Lagos Chamber of Commerce and Industry (LCCI) has advised that Nigeria needs a positive national orientation to navigate the current economic crisis facing the country.

According to a statement, the President of the chamber, Mr Gabriel Idahosa, made this known in his address on the state of the economy in Lagos yesterday.

He noted that Nigeria’s economy was at a crossroads and needed better direction and clarity.

He then urged the President Bola Tinubu-led administration to come out plain to Nigerians and businesses on the direction of its policies and what near-term achievements are possible.

According to Mr Idahosa, this will build some level of certainty to support business planning and decision-making forward in the country.

“At a crossroads with policy choices, Nigeria needs a positive national orientation to navigate the stormy waters we find ourselves in today.

“We therefore recommend that the government come plain to Nigerians and businesses on the direction of their policies and what near-term achievements are possible.

“This will build some level of certainty to support business planning and decisions,” he said.

Speaking on the state of the country’s manufacturing sector, the LCCI president explained that the manufacturing sector remained weak as growth slowed to 1.28 per cent in the second quarter from 1.49 per cent in the first quarter to 2.20 per cent in the corresponding quarter of 2023.

“Recent manufacturing indicators reflect a burdened production sector bedevilled with the high cost of production driven by high interest rates, a weak currency, weak consumer demand as inflation erodes consumers’ purchasing power, and costly logistics due to high energy costs.”

According to him, “In most of our recent statements to the media, we have consistently recommended the need for fiscal stimulus and non-cash interventions to cushion the burdens unleashed through the tight monetary stance of the government in the past 18 months.

“In the situation we find ourselves in, we urge the government to stay focused and more vigorous regarding the ongoing interventions like removing some taxes, the transition to Compressed Natural Gas (CNG) mobility, the Crude for Naira scheme, and the suspension of some import duties.

“The CNG mobility initiative must be supported with CNG refuelling stations nationwide and credit facilities to support quick conversion and usage.”

“Removing VAT on diesel and cooking gas is a bold step towards reducing the cost of living for Nigerians, but it is only the beginning.

“As we look to the future, the transition to Compressed Natural Gas mobility offers an opportunity to make energy more affordable, reduce emissions, and create jobs,” he added.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Senate Passes State Police Bill

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Senate Petroleum Industry Bill

By Aduragbemi Omiyale

The bill seeking to establish state police in Nigeria was on Wednesday, June 24, 2026, passed by the Senate during a plenary presided over by the Senate President, Mr Godswill Akpabio.

The piece of legislation was passed today after more than two-thirds of the lawmakers in the red chamber of the National Assembly voted in support via a manual voting process involving the raising of hands.

Before the passage at the plenary, the chairman of the Senate Committee on the Review of the Constitution, Mr Barau Jibrin, presented the panel’s report to his colleagues.

According to him, the bill will transform policing in the country and boost security, as it allows the sub-nationals to create their own policing system.

The bill provides for the Federal Police Service to be headed by the Inspector-General of Police, while the State Police Service will be led by a Commissioner of Police, who will be appointed by the governor of the state, subject to confirmation by the state’s House of Assembly.

To prevent the misuse of state police against political opponents or critics, ensuring that any action taken against such individuals or groups complies with due process and existing laws, the bill prohibits the Commissioner of Police of a state from arresting, detaining, investigating, or deploying force against any critic of the state governor, except in accordance with the law.

After the clauses of the bill were considered at the Committee of the Whole, the bill was passed and will be transmitted to the President for assent into law.

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Daystar Power Expands Nestlé Solar Partnership Across West Africa

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Daystar Power

By Adedapo Adesanya

Daystar Power Group has expanded its renewable energy partnership with Nestlé in West Africa, commissioning solar power systems with a combined capacity of 6.884 megawatts across four manufacturing facilities in Côte d’Ivoire, Ghana, and Senegal.

According to a statement, the deployments bring the total installed capacity across Nestlé’s sites to 6,884 kWp, nearly 7 megawatts, making it one of the largest commercial and industrial solar partnerships in the region.

The four sites, two in Abidjan, one in Tema, and one in Dakar, are all fully operational, with each system designed around the specific grid and operational profile of its location.

“Nearly 7 megawatts across four Nestlé facilities is a number we are proud of, but what it represents matters more than the figure itself. It means that one of the world’s most demanding manufacturers has tested our model, trusted it, and come back. Our job now is to keep earning that, across every market where industry needs energy it can count on,” Mr Yischai Beinisch, CEO, Daystar Power Group said in a statement.

The partnership began with a single commissioning and expanded to span three countries and four facilities. In Côte d’Ivoire, Daystar Power has delivered 3,447 kWp across two Abidjan sites. In Ghana, a 2,547 kWp system powers Nestlé’s Tema factory. In Senegal, an 890 kWp installation operates at the Dakar facility.

The company said each system is sized and configured to deliver measurable environmental and social impact, including reduced greenhouse gas emissions and improved energy resilience. The design is tailored to the operational and grid conditions at each location, ensuring reliable, clean energy access while supporting local development and aligning with Nestlé’s publicly stated net-zero commitments.

Adding his input, Mr Samer Chedid, CEO, Nestlé Central and West Africa Region, said the investment reflects its commitment to building a business that not only grows but does so responsibly.

“By advancing solar energy projects in Ghana, Côte d’Ivoire, and Senegal, we are embedding sustainability into our growth, reinforcing our role as a force for good, creating long-term value for communities, and ensuring that our footprint actively contributes to a cleaner, more resilient future,” he said.

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Nigeria Adopts New Security Framework to Safeguard Oil Assets

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oil assets

By Adedapo Adesanya

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Ministry of Defence have agreed to deepen collaboration on the protection of critical oil and gas infrastructure through a new non-kinetic security framework designed to curb threats, strengthen community relations and sustain rising output.

The initiative comes as Nigeria recorded crude oil production of nearly 1.8 million barrels per day, one of the highest production levels in recent years, amid intensified efforts to combat crude oil theft, pipeline vandalism and other security challenges across the Niger Delta.

Speaking during a courtesy visit by a delegation from the Ministry of Defence to the Commission’s headquarters in Abuja, the chief executive of NUPRC, Mrs Oritsemeyiwa Eyesan, said the country’s recent production gains were directly linked to coordinated interventions involving security agencies and industry stakeholders.

“Today, we are benefiting from those efforts. Last month, we recorded production of nearly 1.8 million barrels per day throughout the month,” Mrs Eyesan said.

She noted that sustained investments in security operations, technology deployment and human capacity development had significantly improved production stability and operational efficiency in the upstream petroleum sector.

According to her, maintaining and expanding the gains has become critical as Nigeria seeks to increase crude oil output, attract fresh investments and maximise revenue generation from the petroleum industry.

“As we look to the future, we desire to grow production and must have assurances that security threats can be effectively managed. We can only achieve this through stronger collaboration with security agencies and industry stakeholders,” she stated.

Mrs Eyesan stressed that safeguarding oil and gas assets remains central to Nigeria’s energy security strategy and economic growth objectives, noting that production assurance has become a key requirement for investors considering new upstream projects.

She disclosed that the Commission was exploring wider deployment of advanced technologies, including drone surveillance systems, to improve monitoring of the country’s vast oil and gas infrastructure network and detect threats before they escalate into operational disruptions.

The NUPRC boss further revealed that the Commission would work closely with operators to refine and implement a new security framework, while providing leadership in stakeholder engagement and governance structures needed to ensure long-term sustainability.

The Minister of Defence, Mr Christopher Gwabin Musa, said the Ministry was introducing a non-kinetic security intervention model aimed at addressing the underlying causes of insecurity in oil-producing communities.

Rather than relying solely on military operations, he explained that the strategy would focus on community engagement, youth empowerment and social inclusion programmes to build lasting peace around critical energy infrastructure.

“One of the best ways to engage youths in oil-producing areas is through sports-based interventions,” Mr Musa stated.

He explained that the initiative would utilise sports development programmes to channel youthful energy into productive activities, reduce vulnerability to criminal networks and strengthen community ownership of critical national assets.

The Defence Minister, who was represented by one of his aides, added that the intervention would also include structured programmes for persons living with disabilities, creating broader opportunities for participation and economic inclusion in host communities.

According to him, the initiative aligns with the Host Community Development provisions of the Petroleum Industry Act (PIA) and is expected to strengthen relationships between operators and host communities while promoting sustainable development.

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