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Philately Business is a Serious Business- Ugo
King Fhud of Egypt describes philately as king of hobbies and hobby for kings. Postage stamps are considered the most effective medium for immortalizing monuments and past histories, yet not many people know that there is more to stamp than mere affixing it on the envelope as a postal condition for carrying of letters. The name philately may sound strange to some people who do not understand what the business is all about, but for those in the known are actually making their millions silently in this business which A.U Okpara of the Dept. of Fine and Applied Arts, Imo State University Owerri once described as treasure in the trash.
The implication of the definition of Treasure is that the philatelist collects stamps from the trash cans- the useful part of the discarded envelope and recognizes its value as a work of art and places value on it.
In this period when the world is experiencing economic meltdown with its ugly consequence on the capital market, Mr. Ugo C. Ugo, manager Philately Bureau Lagos has said that attention is now shifting to philately as a cool and sure way of making money. He said philately business is all about collecting and studying of stamps.
In talking about stamps collection and sale, Ugo insists that first and foremost there is need to know how the stamp is produced. He said that all the postage stamps you see in Nigeria are printed for Philately Bureau by the Security Printing and Minting Company (SPCMC).
He went further to say that there are two different types of stamps namely the definitive and commemorative stamps. Definitive stamp, he said, is the one that is produced to last for about five years while the commemorative stamp lasts just for six months. But Ugo said that the Philately Bureau can still sell commemorative stamps beyond six months even when they are not available in the general post offices. In fact he said the office can sell commemorative stamps for up to two years saying that this differentiates Philately office from the general post office business. When stamps are produced, he said the chief finance officer of Postal Order and Stamp Supply (the unit that distributes the stamps) will collect the stamps and distributes to territories.
Ugo agrees that not many people know about the business of stamp studying and collection in Nigeria and says the few people that know about it are among the literate class quite unlike in developed countries of U.S, Britain, Germany and others whose postal services make a whole lot of money from philately business. Ugo says that philately business is a serious business and that there are stamp clubs all over the world where people who similar interest can belong.
Tracing the origin of postage stamps, Ugo said that postage stamp was invented by Sir Roland Hills, an Englishman who lived between 1795-1879. In Nigeria, he said that the history of postage stamp dates back to 1859 when a hand struck stamp with the inscription “Paid in Lagos was used.” In June 1874 the first consignment of stamps were released in Lagos.
Stamp collection as a hobby started in Great Britain around 1840 when the first stamp issue was released but Ugo says it is general belief that the idea of collecting stamps came from a Belgium school master who asked his pupils to adorn their atlases with stamps . He said that this adornment became so appealing that in 1854 stamp collecting was taken more seriously and stamp clubs started emerging afterwards. In Nigeria, philately as a hobby was run on a small scale before 1969. in order to improve the standard and quality of Nigerian stamps and provide adequate philately services to Nigerians and foreign collectors, the Nigerian Philatelic Bureau was established in 1969.
Awareness about stamp collection and study is generally low in the country and Ugo says his bureau has been making efforts in recent times to sensitize the people about what philately is all about through the print and circulation of flyers and corporate gift items to members of the public. “ In abroad most postal services make about 70 per cent of their revenue from philately but in Nigeria, the philately is not developed and we are not making the type of money we are supposed to be making”, Ugo said .
To register as a stamp collector, what you need to pay is just a thousand naira and account will be opened for you. Those abroad pay a minimum of forty U.S dollars for the same purpose and they can do everything online. Ugo says that some of the two thousand eight hundred philately members registered with the Nigerian Philately Bureau are white people. Each stamp collector, according to Ugo must have a particular interest of stamps he is collecting whether on animals, telecommunications, music , costumes etc saying that the longer the year of stamp produced, the higher the amount it can attract on sale. He said that when one pays one thousand naira as registration fee that the bureau uses that money to supply the member with postage stamps of various denominations for almost a year and that as soon as the money is exhausted, the Philately accounts officer will alert the member to come for renewal.
Nipost Philately position as the 196th member of International Philately Federation five years ago underscores the fact that philately is a growing business worldwide and Nigerians stand to gain a lot from it. The biggest challenge therefore is creating of awareness by the Nigerian Postal Service to educate the people on what they stand to gain from the hobby.
Chief J. Ade Fagbeminro is in his seventies but he has been in the philately business since early sixties when he said a friend introduced him to the business. Then he said the money they were getting from the business was not much but had real value. He said he has a network of buyers and belongs to international dealership associations. We have dealership association all over the world and whenever there’s need for stamps they call me. I deal in Nigeria stamps and other countries as well. People from abroad contact me on email and telephone to request for stamps”, Fagbeminro disclosed to Nigeria Communications Week. You too can tell the same beautiful story in future if you start now to invest into this gold mine.

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General News
Fearless Freedom Launches to Tackle Inequality and Champion Global Economic Inclusion

Fearless Freedom, a bold new global advocacy initiative focused on ending economic inequality and expanding economic opportunity, officially launches today, 2nd August, 2025.
Backed by the founder of Fearless Fund, the first venture capital fund in the U.S. built by women of color for women of color, this new chapter builds on a legacy of breaking barriers and driving inclusive progress.
The launch of Fearless Freedom comes nearly one year after the dismissal of a federal lawsuit that challenged the organization’s efforts to empower underrepresented communities. The case, which drew national attention, was filed on August 2, 2023, and dismissed permanently on September 11, 2024.
Fearless Freedom is not just an advocacy; it is a global movement for visibility, justice, and financial equity. Through storytelling, policy conversations, and creative programming, Fearless Freedom is reclaiming space, spotlighting the real challenges, and championing the people building powerful solutions.
“Fearless Freedom is our global declaration, a refusal to be silenced, erased, or sidelined,“ said HM Queen Wa Arian Simone, CEO of Fearless Fund. “We’re not just funding change anymore, we’re amplifying the voices that have always driven it. This initiative is about power, presence, and rewriting the rules of who gets seen, supported, and heard.”
“August 2nd was once about legal resistance. From now on, it marks something else: a day of fearless expression and global visibility,” she added.
As a global advocacy initiative, Fearless Freedom will spark meaningful dialogue around economic inclusion, inviting communities to reflect, learn, and speak out against financial inequality, all through creative expression and powerful storytelling.
Telecom
History as MTN Nigeria Becomes First to Hit ₦10 Trillion Market Cap @ NGX

MTN Nigeria Communications Plc has achieved a historic milestone, becoming the first listed company on the Nigerian Exchange Limited (NGX) to reach a market capitalization of ₦10 trillion, as its share price closed at ₦480 on Friday, August 1, 2025.
The telecommunications giant’s shares gained ₦8 or 1.69% during Friday’s trading session, pushing the company’s market value past the ₦10 trillion threshold.
This remarkable achievement comes just two days after MTN Nigeria released its stellar half-year 2025 financial results on Wednesday, which showed exceptional performance across all key metrics.
The timing is not surprising based on what was said in the company’s H1 results, which revealed a dramatic turnaround from losses to profitability.
The telecoms operator reported service revenue growth of 54.6% to ₦2.4 trillion, while EBITDA surged by 119.5% to ₦1.2 trillion with margins expanding significantly to 50.6%.
Most importantly, the company achieved a profit after tax of ₦414.9 billion, marking a stunning recovery from the loss of ₦519.1 billion recorded in the same period last year.
Speaking on the H1 2025 results that have driven investor confidence, Karl Toriola, CEO, MTN Nigeria, said: “We are excited by the progress made in the first half of 2025, reflecting the successful execution of the strategic priorities we previously communicated to the market.”
Toriola emphasized the company’s strong operational momentum, stating: “Building on the momentum from the first quarter, we delivered strong growth in service revenue for the period under review. This was driven by robust demand for our services, proactive customer value management and price adjustments, mainly in Q2.”
The CEO’s confidence in the company’s trajectory was evident in his commentary about future prospects.
“In light of the strong momentum in our business, we have upgraded our FY 2025 and medium-term guidance and we remain firmly on track to restore our balance sheet to a positive net asset position by the end of Q3,” Toriola declared.
This optimistic outlook, backed by upgraded financial guidance targeting service revenue growth of “at least low-50%” and EBITDA margin of “at least low-50%” for FY 2025, has clearly resonated with investors.
Toriola highlighted improving operating conditions that have supported the company’s performance: “The macroeconomic conditions in Nigeria showed notable improvements in the period under review, including a relatively stable naira, improved foreign exchange (forex) liquidity and easing inflationary pressures.”
He noted that “this backdrop helped to enable our improved business performance and set a more supportive context for increased long-term investments.”
The ₦10 trillion market cap milestone represents extraordinary value creation for shareholders.
General News
Nigeria Sends Egusi, Others to Space @ NASA’s Crew-11 Mission Launch

National Space Research and Development Agency (NASRDA) said that Nigeria participated National Aeronautics and Space Administration (NASA’s) Crew-11 Mission, which launched yesterday from the Kennedy Space Center in Cape Canaveral, Florida, the United States.
According to NASRDA, the NASA’s Crew-11 Mission had on board six indigenous Nigerian crop seeds: melon (otherwise Egusi), okra, cowpea, guinea corn (sorghum), amaranth and maize.
NASRDA said that the seeds were chosen for their nutritional and agricultural significance.
NASA is an independent agency of the US federal government responsible for the United States’s civil space program, aeronautics research and space research.
The agency said, “The mission, which features the World Seeds Payload, is a pioneering international agricultural experiment led by Jaguar Space, with contributions from 11 countries, including Nigeria.
“The seeds will be studied aboard the International Space Station, ISS, under microgravity conditions to explore their behaviour, resilience, and potential in future space-based farming, critical research aimed at addressing climate resilience, global food security, and agricultural innovation beyond Earth.
“Representing Nigeria at the launch is Olayinka Fagbemiro, assistant director, nternational Cooperation, NASRDA, and Linkages and project lead on the initiative.
“She oversaw every stage of Nigeria’s participation, from seed selection to logistics and formal international engagement.
“This is our first biological payload aboard a crewed NASA mission to the ISS.
“It not only validates years of local research on plant life in simulated space environments but also underscores NASRDA’s growing role in global scientific collaboration. This mission exemplifies inclusive, culturally grounded space research, and highlights the leadership role that emerging space nations such as Nigeria can play in shaping humanity’s future beyond Earth.”
yond Earth.”
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