Economy
Ooni of Ife Praises Customs Boss Adewale Adeniyi, Cites Tinubu’s Confidence in NCS Reforms
The Ooni of Ife, Oba Adeyeye Ogunwusi II, has praised the leadership of Adewale Adeniyi, saying President Bola Ahmed Tinubu’s public commendation of the Customs chief reflects confidence in the direction of the Nigeria Customs Service (NCS).
The monarch made the remarks during an Eid-el-Kabir gathering hosted by Adeniyi at his residence in Modakeke, Osun State, on 28 May 2026.
The event brought together traditional rulers, political leaders, senior Customs officers, community stakeholders, family members, and associates.
Why It Matters
The endorsement comes at a time when the Nigeria Customs Service is playing a critical role in the Federal Government’s efforts to increase revenue, strengthen border security, facilitate trade, and support economic reforms.
As Nigeria seeks to diversify government income and improve trade efficiency, the performance of agencies such as Customs has become increasingly important to national economic planning.
The public support from one of Nigeria’s most influential traditional rulers also highlights the growing attention being paid to leadership within key government institutions.
Ooni Links Tinubu’s Praise to Customs Performance
Speaking at the gathering, Oba Ogunwusi said President Tinubu’s positive assessment of Adeniyi’s performance was significant.
“We are very proud of him and the work he is doing. When Mr President publicly expressed satisfaction with his performance, it was not a casual statement. It reflects trust in his capacity and the results he is delivering. What he is doing in the Customs Service and in the community shows that he is a unifier.”
The monarch described Adeniyi as a leader capable of bringing different groups together while contributing to both institutional development and community progress.
“He brings people together, and that is what leadership is about. We will continue to stand by him and pray for him.”
Customs Chief Highlights Reforms and Economic Contributions
Addressing guests, Adeniyi thanked the Ooni, community leaders, family members, and supporters for their continued encouragement.
He described Eid-el-Kabir as a period for reflection on sacrifice, service, gratitude, and responsibility.
According to him, the celebration also provides an opportunity to strengthen relationships and promote collective efforts toward community development and national progress.
Adeniyi said the Nigeria Customs Service has continued to record gains in revenue collection, trade facilitation, anti-smuggling operations, technological innovation, and corporate social responsibility programmes.
He noted that these efforts align with the Federal Government’s economic objectives and support the administration’s Renewed Hope Agenda.
Focus on Trade, Security and Community Development
The Customs chief said reforms within the Service are designed to facilitate legitimate trade, improve compliance, enhance national security, and create opportunities for economic growth.
He added that Customs has expanded community-focused interventions across the country, including educational support initiatives, healthcare programmes, and other development projects.
Adeniyi pledged that the Service would continue implementing reforms aimed at improving operational efficiency and delivering greater value to Nigerians.
He also reaffirmed Customs’ commitment to professionalism, transparency, and service delivery.
Expert Perspective
Public policy analysts say efficient customs administration remains essential to Nigeria’s economic development strategy.
Experts note that stronger trade facilitation measures can reduce business costs, improve cross-border commerce, and increase government revenue, while effective anti-smuggling operations help protect domestic industries and national security interests.
They add that investments in technology and institutional reforms could further strengthen Customs’ role in supporting economic growth.
Public and Industry Reactions
Business stakeholders have consistently called for faster cargo clearance processes, improved digital systems, and predictable trade policies.
Industry groups argue that continued reforms within Customs could help improve Nigeria’s competitiveness as a regional trade hub while boosting investor confidence.
Community leaders at the gathering also welcomed the Service’s social responsibility initiatives, particularly projects focused on education and healthcare.
What Happens Next?
The Nigeria Customs Service is expected to continue implementing reforms aimed at improving trade efficiency, increasing revenue generation, and strengthening border management.
Observers will be watching whether ongoing modernization efforts translate into measurable improvements for businesses, government finances, and consumers.
Economy
Federal High Court Orders Mamuda to Stop Pop Power Energy Drink Production Over Trademark Dispute
The Federal High Court in Abuja has ordered Mamuda Beverages Nigeria Limited to immediately stop producing its Pop Power Energy Drink in its current bottle design over allegations of trademark infringement involving Rite Foods Limited’s Fearless Energy Drink.
Justice B.F.M. Nyako delivered the ruling on Friday, 22 May 2026, in Suit No. FHC/ABJ/CS/705/2025, granting Rite Foods’ request for an interlocutory injunction while dismissing Mamuda’s preliminary objection.
The court held that Mamuda’s newly introduced bottle design still appeared to bear a “striking resemblance” to Rite Foods’ Fearless Energy Drink brand.
As part of the ruling, the court ordered Mamuda to halt production immediately, destroy all existing infringing products, and work with the court bailiff to compile an inventory of items marked for destruction.
The injunction will remain in place until the end of the year or until the substantive case is determined.
The matter was adjourned to 23 September 2026 for further hearing.
Why the Case Matters
The dispute highlights growing concerns around intellectual property protection and brand imitation in Nigeria’s fast-growing beverage market.
Trademark disputes involving consumer products can shape competition, influence consumer trust, and affect how businesses invest in branding and innovation.
Fearless Energy Drink has become one of Nigeria’s better-known energy drink brands, particularly among younger consumers, making the case significant within the country’s beverage industry.
Legal analysts say the ruling could send a stronger signal to companies about the risks of brand imitation and identity pass-off.
Earlier Settlement Failed to End Dispute
The latest court order follows an earlier legal battle between both companies in January 2025.
At the time, Rite Foods accused Mamuda of launching a lookalike version of Fearless Energy Drink under the Pop Power brand.
According to Rite Foods, Mamuda later sought settlement discussions, leading to a consent judgment entered by the court.
Under the settlement terms, Mamuda reportedly agreed to stop infringing on Fearless branding, destroy infringing products, and redesign its product packaging to avoid imitation.
However, Rite Foods argued that Mamuda later returned Pop Power to the market with only “cosmetic adjustments” to the packaging.
The company claimed the redesign did little to reduce customer confusion.
Reports from the market, according to Rite Foods, showed that some consumers continued referring to the product as “small Fearless”.
Rite Foods Defends Intellectual Property Rights
Rite Foods said the company remained committed to protecting its brand identity and promoting fair competition in Nigeria’s marketplace.
The company argued that innovation and originality should drive business growth rather than imitation.
In its statement, Rite Foods stressed that businesses must operate within the boundaries of intellectual property laws and ethical competition.
Industry and Consumer Reactions
The case has sparked conversations within Nigeria’s consumer goods sector, especially among branding experts and distributors.
Some retailers say lookalike products can confuse buyers, particularly in open markets where purchasing decisions are often made quickly.
Brand consultants note that packaging design plays a major role in consumer recognition and market loyalty.
Industry observers also say the outcome of the substantive case could influence how aggressively companies protect trademarks in Nigeria’s manufacturing and FMCG sectors.
What Happens Next?
The substantive suit is expected to continue in September, when the court will examine the broader trademark infringement claims in detail.
If Rite Foods succeeds fully in the case, the ruling could strengthen enforcement of intellectual property protections within Nigeria’s food and beverage industry.
For Mamuda Beverages, the legal challenge could affect product distribution, branding strategy, and market positioning in the competitive energy drink market.
Economy
Nigeria Expands AfCFTA Export Corridor With RwandAir Partnership
Nigeria has announced a new partnership with RwandAir to expand its air cargo export corridor under the African Continental Free Trade Area (AfCFTA), in a move aimed at lowering shipping costs and boosting access to African markets for Nigerian businesses.
The announcement was made on Africa Day 2026 by the Federal Ministry of Industry, Trade and Investment (FMITI) in Abuja.
The new agreement extends Nigeria’s export corridor to Kigali in Rwanda, Harare in Zimbabwe and Lusaka in Zambia, while also providing exporters with an additional cargo carrier option for Nairobi and Johannesburg routes.
Government officials say the initiative could significantly reduce the cost of moving Nigerian goods across the continent, especially for small and medium-sized exporters.
Why the partnership matters
Before the cargo corridor was introduced, Nigerian exporters reportedly paid between $3 and $10 per kilogram to ship goods to East and Southern Africa.
According to the ministry, those costs made many Nigerian products less competitive in African markets.
Under the new RwandAir arrangement, cargo rates will fall to below $2 per kilogram across all five destinations.
The partnership builds on an earlier agreement signed with Uganda Airlines in 2025, which introduced discounted cargo routes to Uganda, Kenya and South Africa.
Officials said the corridor is part of Nigeria’s broader strategy to turn AfCFTA from a policy framework into a practical trade tool for businesses.
Non-oil exports rise
Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the initiative is already producing measurable economic results.
“One year ago, we promised that the AfCFTA would work in practice for Nigerian businesses, not only on paper,” she said.
“We set out to solve a practical problem: Nigerian businesses have goods that African markets wanted, but the cost of cargo was too high.”
She added that Nigeria’s non-oil exports to African markets increased from $150m in 2024 to $207m in 2025.
“With RwandAir, we are widening the air cargo corridor, so that more Nigerian exporters can reach more markets at a cost that allows them to compete.”
Economists say expanding non-oil exports is critical for Nigeria as the country seeks to reduce dependence on crude oil revenues and strengthen regional trade ties.
Sectors expected to benefit
The ministry said the expanded corridor is expected to support businesses in:
Agribusiness
Fashion and textiles
Cosmetics
Processed foods
Light manufacturing
Exporters in these sectors have often cited logistics costs, customs delays and limited cargo options as major barriers to accessing African markets.
Trade analysts say cheaper and faster air freight could help Nigerian products become more visible across Africa, particularly under AfCFTA’s tariff reduction framework.
Regional cooperation under AfCFTA
The government said the RwandAir partnership also reflects growing economic cooperation between Nigeria and Rwanda.
Negotiations were led by the Ministry of Industry, Trade and Investment, alongside advisers from the United Nations Development Programme (UNDP) Regional Bureau for Africa and the Nigeria AfCFTA Coordination Office.
Officials linked the agreement to discussions between President Bola Ahmed Tinubu and Rwanda’s President Paul Kagame during the Africa CEO Forum held in Kigali earlier in May 2026.
The ministry also acknowledged support from several institutions, including:
Federal Ministry of Aviation and Aerospace Development
Nigeria Customs Service
Nigerian Export Promotion Council
Federal Airports Authority of Nigeria
Nigerian Shippers’ Council
Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA)
What’s next for exporters?
The RwandAir cargo partnership is expected to be formally launched in June 2026.
Nigerian exporters interested in using the corridor have been advised to contact licensed freight forwarders or cargo desks operated by Uganda Airlines and RwandAir at the Murtala Muhammed International Airport in Lagos.
The ministry also directed businesses to consult the report titled Accelerating Routes for Nigerian Exports into the AfCFTA for cargo rates and trade procedures.
Industry and public reaction
Business groups have welcomed the announcement, saying lower cargo costs could help Nigerian businesses compete more effectively within Africa.
Trade experts, however, say long-term success will depend on infrastructure efficiency, customs processing speed and sustained policy coordination across African markets.
Some exporters have also called for similar trade corridors covering West and North Africa to further deepen regional integration.
Economy
Fidelity Bank Distributes Food Packs to 1,500 Surulere Residents Through Food Bank Initiative
Fidelity Bank Plc has distributed food packs to more than 1,500 residents in Surulere, Lagos, as part of its nationwide Food Bank initiative aimed at tackling hunger and supporting vulnerable communities.
The outreach was carried out in partnership with the Office of the Personal Assistant to the President on Constituency Affairs and the Sodiq Abiodun Ogundare (SAO) Foundation.
The initiative comes at a time when many Nigerians are grappling with rising living costs, inflation, and increasing food insecurity, making food intervention programmes more critical for low-income households.
Why the Initiative Matters
According to the bank, the Fidelity Food Bank initiative has distributed more than 150,000 food packs across Nigeria’s six geopolitical zones since its launch.
Speaking during the outreach event, Regional Bank Head, Victoria Island/Lekki, Fidelity Bank Plc, Nnamdi Edekobi, represented by Branch Leader, Adeola Odeku Branch, Fidelity Bank Plc, Ifeyinwa Asomugha, said the programme reflects the bank’s broader commitment to community welfare.
“Today goes beyond the distribution of food items; it is about uplifting lives, creating opportunities, and strengthening our commitment to the wellbeing of families in this community,” he said.
Edekobi added that the intervention aligns with the United Nations Sustainable Development Goal 2, which focuses on ending hunger.
“Today’s outreach has provided over 1,500 beneficiaries with essential feeding supplies that will help address hunger, support healthy living, and improve the overall wellbeing of families. This initiative also aligns with the United Nations Sustainable Development Goal 2, which focuses on achieving Zero Hunger,” he added.
The bank also acknowledged the support of the Personal Assistant to the President on Constituency Affairs, Hon. Khadijat Kareem Omotayo, for helping facilitate the partnership.
Government Representative Praises Collaboration
Hon. Khadijat Kareem Omotayo described the initiative as a significant opportunity for residents in Surulere Constituency 1.
“I am very happy that the foundation is growing. Fidelity Bank are our people and I appreciate this collaboration that has brought this massive opportunity to our people in Surulere Constituency 1,” she stated.
She also expressed optimism about future collaborations with the bank and development partners to support more Nigerians facing economic challenges.
Community members and local stakeholders at the event reportedly described the outreach as timely, particularly as many families continue to struggle with the rising cost of food and household essentials.
Fidelity Bank’s Growing CSR Footprint
The Surulere outreach is the latest in a series of corporate social responsibility projects undertaken by Fidelity Bank.
The bank was recently named CSR Champion of the Year at the 2025 Independent Newspaper Awards, largely due to the impact of its Food Bank initiative.
Beyond humanitarian interventions, Fidelity Bank says it continues to invest in digital banking, SME financing, and export support services across Nigeria and the United Kingdom through its subsidiary, FidBank UK Limited.
The lender currently serves more than 10 million customers through its digital platforms and 255 business offices.
Industry Perspective
Corporate social responsibility experts say food intervention programmes are becoming increasingly important in Nigeria as economic pressures deepen.
Analysts note that partnerships between financial institutions, government offices, and non-profit organisations can help expand social support networks while strengthening public trust in private sector institutions.
The Fidelity Food Bank initiative also reflects a growing trend among Nigerian banks to combine profitability with social impact programmes focused on education, healthcare, food security, and entrepreneurship.
What’s Next?
Fidelity Bank indicated that the Food Bank initiative will continue expanding to underserved communities across the country.
Observers say sustained interventions and stronger public-private partnerships could help cushion the effects of economic hardship for thousands of vulnerable Nigerians.
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