General
NICA Advocates Wider Acceptance of Buy Now, Pay Later
By Adedapo Adesanya
The National Institute of Credit Administration (NICA) has urged Nigerians to support the Buy Now, Pay Later (BNPL) model.
BNPL is a short-term financing option, common in e-commerce and retail, that allows consumers to make purchases and pay for them in installments, usually without interest if paid on time.
According to the Registrar and chief executive of NICA, Mr Chris Onalo, in a statement, the ‘cash and carry’ approach slows economic growth, adding that in contrast, buy now, pay later creates opportunities for small businesses to thrive and expand.
He also explained that the government’s ongoing loan schemes, saying the initiatives would bring prosperity to small businesses and citizens
He highlighted that President Bola Tinubu’s credit policy addresses micro, small and medium enterprises (MSMEs) key challenges, adding that establishing a guarantee system helps absorb bankable risks and enhances financial inclusion.
Mr Onalo emphasised that the National Credit Guarantee Company (NCGC) will resolve the long-standing issue of collateral.
“Lack of security has historically hindered MSMEs’ access to bank financing.
“Tinubu is quietly and carefully laying a cornerstone for economic stability. A credit economy is essential for sustainable growth and development,” he said.
He explained that no developed economy thrives without credit, stressing that access to credit is crucial for resilience and long-term economic sustainability.
Mr Onalo noted that the consumer credit initiative led by the Nigerian Consumer Credit Corporation (CREDICORP) will boost the economy. It will also improve Nigerians’ living standards.
According to him, NICA is committed to educating Nigerians on the benefits of credit. Credit access is vital for citizens’ well-being and overall economic growth.
“This government is restructuring Nigeria’s economy. It aims to create a well-shaped, sustainable system that supports hardworking and creative Nigerian entrepreneurs.
“When fully implemented, Nigeria will become a thriving economy. It will attract Nigerians in the diaspora and black people worldwide,” he said.
He stressed the importance of an economic stabilisation system, adding that wealth should be concentrated in citizens’ hands to enhance economic resilience.
He noted that Tinubu identified “consumer credit culture” as a key pillar of his economic growth strategy upon assuming office.
He attributed current economic hardships to past governments’ failures.
“A lack of people-centred policies hindered productivity, entrepreneurship, job creation, and industrialisation.
“NICA, as an independent professional entity, recognises Tinubu’s economic reforms. Though slow, they are laying the foundation for a resilient economy.
“A nation with strong credit access, particularly for MSMEs, will experience exponential economic growth,” Mr Onalo stated.
He said prioritising people’s empowerment would drive industrialisation.
According to him, this will create jobs, improve living standards, and increase government revenue streams.
Mr Onalo also emphasised that MSMEs drive national prosperity, as indigenous business owners would evolve into conglomerates, blue-chip companies, and multinational corporations.
By Aduragbemi Omiyale
Over 1.14 million hectares of degraded land have been restored by the Nigerian government, with more than 1.5 million trees planted across the country in the past year.
This information was revealed by the Minister of Environment, Mr Balarabe Abbas Lawal, at the 2026 Top Management Retreat and National Tree Planting Campaign in Maiduguri, Borno State.
He said these achievements were made through initiatives of the federal government like the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project and the National Agency for the Great Green Wall.
According to him, the restoration of the land and the planting of trees demonstrate a clear national commitment to securing environmental sustainability while advancing economic growth.
The Minister reemphasised that the environment is not an abstract concept, pointing out that “it is the air we breathe, the land that feeds us, the rivers that sustain communities, and the climate that shapes the future.”
He praised Governor Babagana Zulum of Borno State for his giant strides in the environment sector in the state, urging other state governors to emulate him by providing sponsorship for their students to the various Federal Colleges of Forestry Resources Management institutions located across the six geo-political zones of the country to encourage and boost Forest education in the country.
He described the decision of Mr Zulum to sponsor 540 indigenes of the state to a forestry college in Maiduguri as commendable.
Mr Lawal also informed the participants of the programme that the Presidential Executive Order on the Prohibition of Exportation of Wood and Allied Products, 2025, is a key policy instrument under President Bola Tinubu’s administration, saying it protects Nigeria’s forest resources, curbs illegal logging, and encourages tree planting as a national duty.
He pledged the Federal Ministry of Environment’s continued partnership with state governments on afforestation, ecosystem restoration, and other interventions tailored to their needs.
“Nigeria’s environmental future can be secured by protecting natural heritage, strengthening climate resilience, and advancing inclusive and sustainable development for present and future generations,” he declared.
By Adedapo Adesanya
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has probed the Chief of Staff to President Bola Tinubu, Mr Femi Gbajabiamila, concerning its investigation into the activities of a purported Presidential Foreign Investment Promotion Council (PFIPC).
The commission stated that it invited Mr Gbajabiamila to help establish how the organisation operated for about two years from within the Federal Secretariat in Abuja, despite not being established by any law or presidential proclamation.
It said Mr Gbajabiamila fielded questions from investigators when he visited its headquarters in Abuja on Monday, but failed to give more details regarding his revelation.
“Mr Gbajabiamila arrived at the Commission in the afternoon and spent some time attending to enquiries from investigators, after which he departed the premises,” said Mr Okor Odey Head, Media and Public Communications of the ICPC, in a statement on Tuesday.
The agency clarified that Mr Gbajabiamila was not arrested, stating that his appearance “was on the invitation of its investigators and consistent with its ongoing efforts to gather all relevant facts in the matter.”
“He was not arrested; he simply willingly honoured an invitation,” the statement added.
“Investigations continue, and further updates will be communicated as appropriate.”
The ICPC statement came a day after Mr Gbajabiamila’s lawyer, Mr Jiti Ogunye, announced on Monday that he had appeared before the commission’s investigators.
Mr Ogunye said Mr Gbajabiamila visited the commission at about 3.00 p.m. on Monday, in full cooperation with the ICPC, acting as directed by President Tinubu.
“My client gave his testimony, responded to questions accordingly, and has returned to his duty post,” Mr Ogunye wrote.
Mr Tinubu ordered the ICPC earlier this month to investigate the fake agency scandal and submit its findings within 30 days.
The federal government disowned the PFIPC as a fraudulent entity allegedly operated by Mr Adeniyi Adeyemi, who is accused of posing as its director-general.
The scandal came to public attention after Mr Adeyemi allegedly claimed that he paid N400 million in bribes to facilitate the establishment and operation of the purported agency, including money paid to an individual he believed was Mr Gbajabiamila. Using official government documents, the organisation allegedly secured office space at the Federal Secretariat, obtained budgetary allocation, opened accounts with the Central Bank of Nigeria and employed public servants.
Mr Adeyemi was recently apprehended by the Nigerian Police Force.
By Adedapo Adesanya
The African Atlantic Gas Pipeline (AAGP) project recorded a major milestone after Heads of State of the Economic Community of West African States (ECOWAS) signed the Intergovernmental Agreement (IGA) for the multibillion-dollar regional energy initiative at the ECOWAS Summit in Freetown, Sierra Leone.
The development was announced in a statement on Monday by the Chief Corporate Communications Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mr Andy Odeh.
According to the statement, the agreement provides the legal and institutional framework required to accelerate the implementation of the pipeline project, which is expected to strengthen regional energy security, drive industrialisation and deepen economic integration across West Africa.
The AAGP is designed to transport about 30 billion cubic metres of natural gas annually through a nearly 6,900-kilometre pipeline stretching from Nigeria to Morocco along the Atlantic coast, with interconnections to landlocked Sahel countries and onward linkage to the Maghreb-Europe Gas Pipeline.
The project is jointly being developed by NNPC and its Moroccan equivalent – Office National des Hydrocarbures et des Mines (ONHYM), with sovereign backing from Nigeria, Morocco, Mauritania and ECOWAS member states.
NNPC said the latest signing gives practical effect to the approval granted during the 66th Ordinary Session of the ECOWAS Authority of Heads of State and Government held in Abuja in December 2024 and concludes the institutional process initiated after the 2022 Memorandum of Understanding between Nigeria and Morocco.
The company added that Morocco and Mauritania are expected to sign the agreement in a subsequent ceremony to complete the intergovernmental framework for the project.
The statement noted that the pipeline, conceived under the shared vision of the late former President Muhammadu Buhari and King Mohammed VI of Morocco, continues to enjoy the support of President Bola Tinubu.
It also disclosed that significant preparatory work had already been completed, including Front-End Engineering Design (FEED) studies, route reconnaissance surveys, environmental and social impact assessments, as well as the development of legal, regulatory and commercial frameworks required to move the project towards implementation.
The pipeline is expected to enhance gas supply across the region, support electricity generation, promote industrial development, encourage value addition to natural resources and create employment opportunities across West Africa.
Commenting on the development, the chief executive of the state-oil-owned company, Mr Bayo Ojulari, described the signing of the agreement by West African leaders as a critical step towards the project’s implementation.
“This milestone reflects the clear mandate of His Excellency President Bola Ahmed Tinubu GCFR. The AAGP is central to delivering that mandate by providing the infrastructure required to bring about 3 bcf/d of Nigerian gas to market. NNPC Limited is proud to co-lead this endeavour with ONHYM.”
Also speaking, the Director General of ONHYM, Mrs Amina Benkhadra, described the signing as another major achievement in the realisation of the transcontinental energy project.
According to her, “The Project fully reflects His Majesty’s vision for an integrated Atlantic Africa.”
NNPC said the next phase of the project would include the establishment of the Pipeline Higher Authority (PHA) in Abuja and the African Atlantic Gas Pipeline Project Company in Casablanca to oversee implementation and prepare for the Final Investment Decision (FID).
The company reaffirmed its commitment, alongside ONHYM, to delivering the project in line with international standards of technical excellence, environmental sustainability and good governance.
