General
Peter Obi Advocates Human Capital Investment to Tackle Trump’s Tariffs
By Adedapo Adesanya
More reactions continue trail the recent tariffs introduced by the administration of President Donald Trump of the United States, and the latest to add his input is the presidential candidate of the Labour Party in the 2023 general election, Mr Peter Obi, who called on African nations to urgently invest in their human capital and scale up productivity.
He made this while speaking at the plenary session of the Commonwealth Enterprise and Investment Council (CWEIC) Trade and Investment Summit 2025 in London on Tuesday.
Mr Obi emphasised that Africa’s pathway to relevance and resilience in the evolving global economy lies in harnessing its youthful population and vast resources.
The former Governor of Anambra State noted that interventions by President Trump had already disrupted long-standing assumptions of global trade, with many nations adopting protective measures to safeguard their economies, lamenting that African countries have largely failed to respond proactively.
“Despite its vast opportunities, Africa’s share of global trade remains at a paltry 2-3 per cent, with its GDP share at about 3 per cent,” Mr Obi stated, adding that Africa’s GDP per capita stands at just $1,900, compared to about $9,000 in Asia per World Trade Organisation (WTO) data.
He warned that this persists even though Africa has the second-largest and most populous continent of about 1.5 billion people and the world’s largest concentration of working-age population
Mr Obi pointed out that the continent boasts abundant natural resources, including nearly a billion hectares of uncultivated arable land and over 30 per cent of the world’s mineral reserves but these remain underutilised.
“Africa holds over 60 per cent of the world’s arable land. Our food and agriculture market, currently valued at $280 billion annually, is projected to exceed $1 trillion by 2030,” he explained, adding that, “With agriculture at the core of our economic transformation, Africa can emerge as a global agricultural powerhouse and a net exporter of food.”
He lamented that leadership remains the lacking element and called for a transformative shift in governance across the continent, advocating one that embraces innovative education, healthcare investment, and poverty reduction.
“What is missing is leadership that can reorder priorities and scale up productivity so that African countries can move into higher levels of value creation,” he argued.
“We have seen promising signs in better-governed African countries. The challenge remains scaling up and sustaining this across the region,” he added.
Mr Obi urged African leaders to learn from Asia’s developmental state model, which prioritised human capital and productivity over mere institutional imports from Western economies, and called for bold, visionary leadership to steer Africa toward economic self-reliance and global competitiveness.
“Africa must rebuild its economies through leadership that focuses on rapid upgrades in productive capacities, especially in education and healthcare, to lift millions out of poverty and seize the opportunities of the new global economy,” he said.
By Adedapo Adesanya
The National Pension Commission (PenCom) is developing a new investment vehicle that would channel part of Nigeria’s $22 billion pension assets into critical infrastructure projects, providing long-term financing for roads, railways, energy and healthcare.
The proposal was disclosed by PenCom spokesman, Mr Ibrahim Buwai, who said the initiative is expected to be launched later this year as the commission explores ways to mobilise pension assets for national development while protecting contributors’ savings.
Mr Buwai said the regulator is promoting the creation of a special-purpose investment vehicle that would allow pension assets from different fund managers to be pooled for financing commercially viable infrastructure projects.
“We are encouraging the setting up of a vehicle, kind of special purpose vehicle, where resources can be pooled, so that viable infrastructure projects can be looked at,” he said, explaining that the proposed fund is designed to balance national development with the interests of pension contributors by targeting investments capable of delivering returns that outperform inflation.
He noted, however, that participation will remain at the discretion of individual Pension Fund Administrators, while the final size of the investment vehicle is yet to be determined.
The proposal also comes as pension investments in infrastructure continue to expand. Latest data published by PenCom show that investments through infrastructure funds climbed by 38 per cent year-on-year to N318 billion (about $230 million) as of May 2026, reflecting growing interest among pension managers in long-term infrastructure assets.
The proposed infrastructure vehicle aligns with PenCom’s broader strategy of increasing the role of pension assets in Nigeria’s capital market and unlocking what it describes as the industry’s largest pool of long-term passive investment capital.
The initiative follows a period of strong growth in the pension industry, with Nigeria’s total pension assets rising to a record N31.32 trillion in May 2026 despite challenging economic conditions.
PenCom has also intensified efforts to strengthen compliance within the pension system. Working with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the commission recently recovered more than N3 billion in outstanding pension contributions that employers had failed to remit on behalf of workers.
By Modupe Gbadeyanka
The Nigeria Agricultural Quarantine Service (NAQS) has asked to be integrated into the B’Odogwu platform of the Nigeria Customs Service (NCS).
This call was made by the head of NAQS, Mr Vincent Isegbe, during a meeting with the Comptroller-General of Customs, Mr Adewale Adeniyi, in Abuja on Wednesday.
Mr Isegbe, who used the visit to congratulate Mr Adeniyi on the extension of his tenure as Chairperson of the World Customs Organisation Council, which he described as recognition of his dedication and leadership, praised what he called an excellent working relationship with Customs.
He outlined areas for closer partnership, including integrating NAQS into Customs’ B’Odogwu platform, joint enforcement operations, and coordinated efforts to detect fake certification and fraudulent documentation.
In his remarks, Mr Adeniyi commended his guest for the partnership, promising that NAQS will provide technical support for the new Customs laboratory.
According to him, this is one of the avenues to deepen collaboration between the two agencies on intelligence sharing, trade facilitation and national security.
He informed Mr Isegbe that his organisation was moving to harmonise inspection procedures across the country’s ports and border stations, a step he described as critical to promoting consistency, transparency and efficiency in cargo clearance nationwide.
He also stated that customs training facilities would be opened up to NAQS officers as part of a broader capacity-building push.
“We must expose our officers to the broader concept of national security. Border management goes beyond revenue collection,” Mr Adeniyi said, stressing that Customs sees itself as the anchor institution coordinating Nigeria’s multi-agency border protection efforts.
By Adedapo Adesanya
Nigeria’s solid minerals sector recorded a boom of 337 per cent in two years, jumping from N16 billion in 2023 to over N70 billion in 2025, according to the chief executive of the Solid Minerals Development Fund (SMDF), Mrs Fatima Umaru Shinkafi.
She disclosed that the sector also recorded a remarkable 33.5 per cent real growth in 2025, while reforms attracted fresh investment commitments worth about $2.6 billion, including a $1.3 billion alumina refinery described as the single biggest mining investment in Nigeria’s history.
Mrs Shinkafi gave out these figures at the maiden Annual Lecture of the Faculty of Physical and Earth Sciences, University of Lagos (UNILAG), where she declared that stronger collaboration among government, industry and academia is the master key to unlocking Nigeria’s vast mineral wealth.
Delivering the keynote lecture titled Building Nigeria’s Solid Minerals Future: The Power of Academia, Government and Industry in Partnership, she lamented that despite Nigeria’s deposits of more than 44 commercially viable minerals spread across over 500 locations, the industry still contributes less than one per cent to the nation’s Gross Domestic Product (GDP).
She, however, said the story is changing under the Seven-Point Agenda of the Minister of Solid Minerals Development, Mr Dele Alake, with reforms already repositioning mining as a major driver of economic growth.
The SMDF boss also unveiled the Early-Stage Mineral Exploration and Research Grant Endowment (EMERGE), describing it as Nigeria’s first competitive research funding platform dedicated to geoscience studies in universities.
According to her, the initiative will fund mineral exploration, critical minerals research and postgraduate studies, while equipping successful applicants with technical training and access to investment opportunities.
She challenged UNILAG researchers to seize the opportunity by submitting quality proposals, insisting that research remains the foundation for building a globally competitive mining industry.
Mrs Shinkafi then urged young women to embrace careers in science and mining, stressing that Nigeria’s hidden mineral wealth can only be fully unlocked through the innovation, skills and determination of the next generation.
