General News
Nigeria Economic Outlook Threatened by Coronavirus Outbreak

By Lukman Otunuga, Senior Research Analyst at FXTM,
The dramatic and fast-moving consequences of the coronavirus COVID-19 outbreak threaten an otherwise resilient outlook for Nigeria’s economy, following GDP results for Q4 showing an expansion of 2.55 percent. The growth was the highest seen since 2015 and above the International Monetary Fund’s (IMF) 2.1 percent forecast.
The economy is supported by the Central Bank of Nigeria’s (CBN) policies to boost credit growth like hiking the loan-to-deposit ratio and other monetary policy tools. On top of that, Oil production increased to two million barrels per day amid recovering global Oil prices versus 1.0 million bpd in Q3.
However, since then, risks to the economy have multiplied.
Like many other economies at the time of writing, Nigeria is vulnerable to the spread of the COVID-19 virus in economic and health terms because one of its main trading partners is the epidemic’s epicenter China. For the time being, the sizable manufacturing sector in China has been slowed by large-scale workforce disruptions and it is expected that GDP growth for the quarter will be pressured amid a fall in business confidence.
While it is too early to tell the precise extent of the slowdown, the impact on the supply chain and trading with China’s trading partners is already evident. Nigeria’s crude Oil exports to China fell in February amid weaker Oil prices as the outlook for global Oil demand weakens.
Nigeria’s Q1 GDP remains exposed to external uncertainties in the form of weaker Oil prices, the coronavirus COVID-10 outbreak, slowing growth in China and the global economy.
Focusing on the global coronavirus outbreak, so far there are over 83,000 confirmed cases with over 2800 deaths. The World Health Organisation (WHO) has identified Nigeria as one of its top 13 priority countries because of the direct links and travel volume to-and-from China. It is positive that Nigeria’s authorities are taking measures to stop the virus spreading, but the risks remain.
Since the onset of the virus outbreak early in the year, Oil prices have slipped over 15 percent amid demand-side concerns, the USD has appreciated against G10 and emerging market currencies against a background of risk aversion and Gold has jumped to fresh seven-year highs.
If it continues to spread, the virus outbreak and subsequent slump in demand from China present major risks to the Nigerian economy. Crude Oil revenues account for less than 10 percent of GDP but remain the biggest source of foreign exchange for the nation, 90 percent of export sales over 50 percent of government revenues.
Falling Oil prices would reduce foreign exchange reserves and ultimately complicate the CBN’s efforts to defend the Naira, meaning potentially heightened pressures on inflation and consumption with an eventual impact on growth. Lower Oil prices also impact the 2020 budget which was based on 2.18 million bpd at an Oil price benchmark of $57 per barrel.
Moreover, China is one of Nigeria’s biggest trading partners with total trade flows in Q3 2019 worth over $3.2 billion. It is important for the economy for the virus outbreak to be brought under control because if trade flows decline on the back of slowing growth in China, the impacts are likely to be felt in Nigeria.
The situation may prompt a greater focus on monetary and fiscal policy to shield the economy from external risks. The CBN meet in March but the economy remains under inflationary pressure so it is unlikely we’ll see an interest rate cut. Instead, the central bank may implement more unconventional tools to stimulate the economy.
Finally, it is even more clear that diversification is the key to reducing Nigeria’s reliance on Oil revenues and reducing the risks to growth. On the upside, there is still a possibility that the virus outbreak will be brought under control, meaning a return to full power for China and Asia and a relief to health authorities and policy makers in Nigeria and other countries.
General News
Woherem Proposes Pragmatic Roadmap to End Terrorism and Banditry in Nigeria

Dr. Evans Woherem, an award-winning African technology researcher, analyst, and writer, has proposed a comprehensive and implementable strategy to end terrorism, banditry, and criminal violence in Nigeria, warning that the country’s prolonged insecurity has reached a critical point that demands urgent, coordinated action.

Titled “A Comprehensive Strategy for Ending Terrorism, Banditry, and Criminal Violence in Nigeria: A Pragmatic, Multi-Layered, and Implementable Framework,” the paper presents a holistic roadmap designed to reverse more than a decade of escalating violence that has claimed thousands of lives, displaced communities, weakened local economies, and eroded public trust in governance.
According to him, insecurity has become deeply entrenched in everyday life across the country. “Terrorism, banditry, and criminal violence have become so commonplace that they now dominate daily conversations among Nigerians,” Dr. Woherem noted, adding that while the crisis is most acute in the North-East, North-West, and North-Central regions, “its effects are now being felt even in the southern parts of the country.”
Citing the 2025 Global Terrorism Index, which ranks Nigeria sixth globally in terms of terrorism impact, Dr. Woherem described the ranking as “a sobering statistical confirmation that terrorism still weighs heavily on the Nigerian state.”
The paper traces the roots of the crisis to the emergence of Boko Haram in 2009 and the subsequent rise of splinter groups such as ISWAP. It recalls high-profile incidents including the 2014 abduction of schoolgirls in Chibok, the Dapchi and Kankara kidnappings, and a series of mass abductions and attacks on schools and places of worship recorded in 2025.
Dr. Woherem observed that banditry, largely driven by ransom payments, “has spread across the entire nation, creating fear, weakening productivity, and pushing millions of households deeper into poverty.”
While acknowledging the role of military action, the author cautioned against relying on force alone. “Nigeria cannot defeat insurgency and violent crime through arms and ammunition alone,” he said. “Any sustainable solution must confront the internal conditions that allow insecurity to thrive.”
Among the key drivers identified in the paper by Dr. Woherem, are porous borders, arms proliferation, youth unemployment, economic stagnation, and persistent conflicts over land and resources, challenges Dr. Woherem stressed can be addressed through “a deliberate, intelligence-led, and whole-of-society approach.”
At the heart of the proposed framework, Woherem noted, is a call for intelligence-driven security operations, including the establishment of a National Counter-Insurgency and Intelligence Fusion Centre. “Security operations must be guided by accurate, actionable intelligence rather than fear-led mass actions that often harm civilians and undermine public trust,” he stated.
The paper also advocates comprehensive policing reforms, including the creation of constitutionally backed state police systems supported by a more specialized federal police structure. “Nigeria’s over-centralised policing model is structurally incapable of effectively addressing widespread criminality across such a vast and diverse country.”
Recognising the realities at the grassroots, Woherem calls for the formal regulation of community-based security groups, and noted that “ignoring vigilante groups is dangerous, and banning them outright is unrealistic,” but stressed that their roles must be clearly defined, regulated, and subject to strict oversight.
On border security, particularly in the Lake Chad Basin, the author warned that instability in neighbouring countries continues to fuel Nigeria’s insecurity. “No permanent solution is possible without deep regional cooperation,” he said, advocating an Integrated Border Management system supported by joint operations with neighbouring states.
The paper places strong emphasis on prevention through economic inclusion, youth employment, and skills development. “Jobs and income remain the most powerful tools for preventing recruitment into violent groups,” Dr. Woherem asserted, adding that immediate livelihood opportunities significantly weaken the appeal of extremist narratives.
He also called for structured deradicalisation and reintegration programmes, noting that “a humane, community-accepted process is essential for breaking cycles of violence and preventing relapse into extremism.”
Dr. Woherem further emphasised the need for governance reforms and accountability in the security sector. “Without transparency, oversight, and institutional integrity, even the best security strategies will fail,” he warned.
The white paper outlines a phased implementation plan from 2025 to 2030, beginning with intelligence fusion, pilot state police initiatives, community security registration, drone surveillance, and financial crackdowns on terror networks, before expanding into nationwide reforms and long-term consolidation.
Concluding, Dr. Woherem expressed cautious optimism about Nigeria’s future. “Nigeria can overcome this prolonged phase of insecurity,” he said, “but only through political will, coordinated institutions, and the active participation of society.”
He added that the proposed framework offers “a realistic pathway to restoring security, rebuilding public trust, and unlocking Nigeria’s vast human and economic potential.”
General News
REDAN Seals Landmark MoU, Validates Sytemap’s Real Estate Infrastructure

In a market where less than 3% of land is formally registered and property fraud remains systemic, infrastructure, not apps, is becoming the defining battleground for real estate innovation.

L-R: Ndifreke Ikokpu, COO, Sytemap, HRM Oba Akintoye Adeoye, President REDAN & Cholatte Odunlade-Akeji, Director, RightHome
That reality came into sharp focus on December 18, 2025, as the Real Estate Developers Association of Nigeria (REDAN) signed a Memorandum of Understanding (MoU) with Sytemap Technologies Limited, signaling a major industry endorsement of Sytemap’s land and real estate transaction infrastructure.
The partnership centers on RightHOME, a jointly developed digital real estate platform powered by Sytemap’s secure cloud infrastructure, mapping systems, transaction monitoring, and fraud-prevention architecture, with REDAN driving ecosystem adoption through its nationwide developer network.
Nigeria’s real estate sector processes transactions worth trillions of naira annually, yet remains heavily manual, fragmented, and vulnerable to disputes. Industry data suggests unresolved title issues alone lock up ₦36 trillion in dead capital, limiting access to finance and slowing development.
“This MoU represents a shift from fragmented digitization to coordinated infrastructure,” said Nnamdi Uba, CEO at Sytemap. “When the industry body itself aligns around shared standards, verification, and technology, innovation can finally scale responsibly.”
Under the agreement:
· REDAN will onboard registered developers and promote adoption of the platform as a trusted digital channel.
· Sytemap will deliver secure hosting, real-time monitoring, escrow-aligned transaction workflows, and compliance with Nigeria’s data protection regulations.
· Joint standards will be developed for digital verification, transparency, and asset mapping.
From a technology perspective, the partnership reflects a growing consensus that solving African real estate challenges requires deep infrastructure, not surface-level marketplaces. Fraud detection, uptime reliability, auditability, and regulatory alignment, areas often overlooked in proptech, are central to Sytemap’s approach.
HRM Oba Akintoye Adeoye, representing REDAN noted, “This collaboration allows developers to operate in a system where trust is embedded, not assumed. That is critical for long-term growth.”
For the broader tech ecosystem, the MoU stands out as a rare example of industry-led validation, where a national association formally aligns with a technology provider to modernize an entire sector.
Ndifreke Ikokpu, COO at Sytemap signed on behalf of Sytemap while Cholatte Odunlade – Akeji, CEO of RightHome signed on behalf of the Special Purpose Vehicle.
As pressure mounts to unlock housing finance, attract institutional capital, and reduce transaction risk, the REDAN–Sytemap partnership positions digital land infrastructure not as an optional upgrade, but as a foundational requirement for the future of real estate in Nigeria.
General News
Oyedele Warns Delay in Tax Reforms Will Keep 98% of Workers Overtaxed

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has cautioned that failure to implement Nigeria’s new tax laws by January 1, 2026, would leave the vast majority of workers and businesses at a disadvantage.

Taiwo Oyedele
Speaking on Channels Television’s The Morning Brief, Oyedele said postponing the reforms would mean that “the bottom 98 per cent of workers remain overtaxed,” while businesses continue to grapple with multiple taxation and miss out on exemptions.
He added that small and unprofitable enterprises would still be subject to minimum taxes, and hidden VAT charges would keep driving up the cost of essentials such as food, healthcare, and education.
His comments come amid calls by former Vice President Atiku Abubakar, Labour Party’s 2023 presidential candidate Peter Obi, and several civil society groups for a suspension of the reforms. Oyedele argued that rather than halting implementation, specific areas of concern should be identified and corrected.
“So, we need to be clear about what we are asking for,” he said. “Even if it is established that there have been substantial alterations to what the National Assembly passed, my view will be to identify those provisions… and go ahead to implement the law as passed by the NASS, while you address the issues as to how they got in there in the first place.”
Oyedele acknowledged that even the version passed by lawmakers contained sections requiring amendment, citing issues with referencing and definitions.
He also addressed controversy over alleged discrepancies between the gazetted laws and those approved by the National Assembly, noting that without access to the officially harmonised bills certified by the clerk, it was difficult to determine differences.
He pointed to Section 41(8), which initially appeared to require a 20 per cent deposit but was later excluded from the final version, stressing that some draft materials circulating in the media did not originate from the House committee. “I think we should allow them do the investigation,” he said.
President Bola Tinubu has already signed the four tax reform bills into law, describing them as the most significant overhaul of Nigeria’s tax system in decades.
The reforms — the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and Joint Revenue Board (Establishment) Act — are scheduled to take effect on January 1, 2026, under a unified Nigeria Revenue Service.
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