Business &Economy
Pitch Communications 5.0 Highlights Informal Sector’s Role in Nigeria’s Development
Nigeria’s formal and informal sectors must work together more deliberately if the country is to achieve sustainable development, speakers have said at the fifth Pitch Communications Annual Public Lecture in Lagos.
The event, held on 10 December at the Radisson Blu Hotel in Ikeja, brought together policymakers, business leaders and analysts to examine how both sectors shape Nigeria’s economy and future.
Organisers said the forum was designed to move beyond talk, pushing for practical ideas that can translate into measurable action.
Why it matters
Nigeria’s informal sector employs more than half of the country’s workforce, according to official data, yet remains largely outside structured policy planning.
Experts say better integration of informal businesses into the formal economy could boost productivity, expand the tax base and improve access to funding.
The Pitch Communications lecture focused on how data-driven policies and inclusive governance can help bridge that gap.
Host sets the tone
In his welcome address, the Chief Executive Officer of Pitch Communications, Mr Idris Oseni, thanked guests and supporters, including Hon. Rasak Ajala, Hon. Akin Bashiru, and Alhaji Musbau Razak.
He also acknowledged the organising team and added a personal note, as the event coincided with his birthday.
Informal sector as an economic engine
Former Chairman of Odi-Olowo Local Council Development Area, Hon. Rasak Ajala, delivered an early address, speaking candidly about his life experiences.
He stressed that the informal sector remains a critical driver of Nigeria’s economy and urged policymakers to recognise the resilience of Nigerians.
He said with the right support, many people operating informally could turn everyday challenges into sustainable opportunities.
Data, policy and revenue
The keynote address was delivered by Hon. AbdulGaniyu Vinod Obasa, Executive Chairman of Agege Local Government.
He argued that data must sit at the heart of policy formulation and implementation, particularly when dealing with informal businesses.
Hon. Obasa said governments should continue to encourage participation in the informal sector, while creating pathways for businesses to scale into the formal economy.
He added that government responsibility to both sectors should be reflected in clear, measurable project delivery that supports revenue generation and development.
Art, pain and purpose
The audience also heard a spoken-word performance by Oluwatomisin Akinyemi Tomi, who presented a poem titled “From Pain to Purpose.”
Her performance encouraged participants to see personal hardship as a potential driver for national impact, drawing strong reactions from the audience.
Industry and expert reactions
A panel discussion featured voices from government, business and strategy, including:
Mr Salami Akeem, CEO of Balkeem Nigeria Ltd
Aisha Jumah, Strategy and Business Analyst at Noemdek Ltd
AbdulRahman Olakunle Ali, entrepreneur and author
Hon. Abdullah Binuyo, former Deputy Chief of Staff to ex-Osun State Governor Gboyega Oyetola
Panellists addressed issues such as technology adoption, access to funding, taxation and regulatory challenges facing both sectors.
They agreed that stronger collaboration between public institutions and private operators is key to long-term economic stability.
Recognising community impact
The event also honoured individuals recognised for community development and advocacy.
Award recipients included Hon. Busola Afolabi, Hameedat Shade Balogun, and Queen Moyosoreoluwa Okeyemi.
Organisers said the awards were meant to spotlight everyday leadership and social impact beyond formal titles.
Call for action
In his closing remarks, Hon. Akin Bashiru praised Hon. Vinod Obasa’s leadership and called for competence in public office.
He said the annual lecture must not remain a “talk show” but should lead to trackable actions, follow-ups and feedback.
According to him, real success would be measured by how many ideas discussed are eventually implemented.
Symbolic close
The event ended with a symbolic presentation by Mr Udoh Joseph Bassey, an artist from the University of Lagos, who gifted Hon. Obasa an artwork made from plastic and iron waste.
Organisers said the piece reflected sustainability, innovation and the value hidden within overlooked resources.
What’s next
Pitch Communications says recommendations from the 5.0 edition will be documented and monitored to ensure follow-up and measurable outcomes.
Business &Economy
Blue Economy: Why Nigeria Must Prioritise Maritime Sector for Jobs and Growth
Nigeria should prioritise the blue economy above all other sectors to drive job creation, reduce poverty and diversify from oil, according to a senior official at the Nigerian Maritime Administration and Safety Agency (NIMASA).
In an opinion piece, Chika Chukwudi — author of Blue Economy: Gateway to a Sustainable Future and a staff member of NIMASA — argued that maritime investment is no longer optional but a “strategic national imperative”.
She said Nigeria’s 850-kilometre Atlantic coastline and access to the Gulf of Guinea position it as a natural maritime powerhouse.
Yet, she noted, the sector contributes far below its potential to national GDP.
“A nation surrounded by water should not be surrounded by economic stagnation,” she wrote.
Why It Matters
Nigeria has long depended on crude oil revenues, leaving its economy exposed to global price shocks.
According to global trade estimates, more than 80% of world trade by volume is carried by sea — a figure experts say Nigeria has not fully leveraged.
Chukwudi argues that expanding ports, fisheries, aquaculture, shipping and coastal tourism could generate millions of jobs across skill levels.
From artisanal fishermen to marine engineers and port managers, she said the sector has unmatched employment capacity.
“If properly harnessed, the blue economy can become Nigeria’s largest employer of labour,” he stated.
Job Creation and Poverty Reduction
Poverty remains most severe in rural and coastal communities, many of which are located near water resources.
Chukwudi said investments in modern fishing techniques, cold storage facilities and export systems could raise incomes at grassroots level.
He added that women in fish processing and marketing, as well as young entrepreneurs in aquaculture, stand to benefit.
Diversification Beyond Oil
For decades, Nigeria’s revenue has fluctuated with oil prices.
Strategic port modernisation, indigenous shipping development and marine renewable energy projects could attract foreign investment and reduce capital flight, Chukwudi said.
She also pointed to opportunities under the African Continental Free Trade Area (AfCFTA), where maritime infrastructure could position Nigeria as a regional trade gateway.
Security and Regional Influence
Beyond economics, maritime investment could strengthen national security.
Improved naval surveillance and port systems may reduce piracy and illegal fishing in the Gulf of Guinea — a region previously identified as a piracy hotspot.
Some shipping operators argue that port congestion and high operating costs must be addressed before Nigeria can compete with other African maritime hubs.
What’s Next?
Chukwudi called for prioritising maritime education, strengthening institutions and expanding coastal infrastructure.
She urged the Federal Government to finance aquaculture enterprises and support indigenous shipping lines.
“The blue economy is not just another sector; it is a sleeping giant,” she wrote. “Nigeria’s prosperity lies not only beneath its soil, but upon its waters.”
Whether policymakers will elevate maritime investment above competing priorities remains to be seen.
Business &Economy
Nigeria Customs Inspects Tsamiya–Segbana Border After Reopening for Transit Trade
Nigeria Customs Service (NCS) officials have inspected transit operations along the Tsamiya–Segbana–Kamba corridor in Kebbi State, following the reopening of the border for international trade.
The inspection was led on Monday by the Customs Area Controller for Kebbi Command, Comptroller Mahmoud Matawalle Ibrahim, alongside Comptroller Aminu Sule of the Federal Operations Unit (FOU) Zone B.
It was aimed at ensuring that only legitimate transit goods move through the route, without diversion into Nigeria’s local markets.
Why it matters
The Tsamiya–Segbana corridor links Nigeria to Benin and Niger Republics, serving as a strategic route for regional trade under ECOWAS transit arrangements.
Authorities say poor monitoring in the past allowed smuggling and diversion of goods, costing governments revenue and undermining fair trade.
The border was reopened following approval by the Comptroller-General of Customs, Bashir Adewale Adeniyi, as part of wider efforts to balance trade facilitation with border security.
What customs officials are saying
Addressing stakeholders during the inspection, Comptroller Matawalle said the exercise was designed to enforce approved transit procedures across Nigeria’s international borders.
“The purpose of this assignment is to ensure strict compliance with approved procedures governing the transit of legitimate goods across the international borders of Benin and Niger Republics through Kebbi State,” he said.
He stressed that transit trucks must not be diverted from their approved destinations for local consumption.
The comptroller also appealed to traditional rulers and host communities to work with customs officers to ensure smooth truck movement and a peaceful operational environment.
Security and enforcement assurances
Comptroller Aminu Sule, who represents the Federal Operations Unit, assured stakeholders of enforcement support along the corridor.
He said the Service would provide “the necessary assistance to facilitate trade across international borders, in line with its mandate.”
The FOU is responsible for intercepting smuggled goods and enforcing compliance beyond border posts.
Regional and diplomatic reactions
Officials from neighbouring countries welcomed the reopening of the corridor and Nigeria’s renewed engagement.
Customs representatives from Benin and Niger Republics expressed appreciation to President Bola Ahmed Tinubu, the Kebbi State Government, and the Comptroller-General of Customs for approving the transit arrangement.
They said the decision had created space for dialogue and improved regional cooperation.
Community and stakeholder response
The District Head of Kamba, Alhaji Mamuda Zarumai (Sarkin Shikon Kamba), described the initiative as beneficial to both local communities and the wider economy.
He pledged to caution residents to cooperate fully with customs officials.
He noted that the initiative was “for the overall benefit of Nigerians.”
Speaking for traders and transport operators, Alhaji Idi Bagudo, Chairman of Stakeholders in Kebbi State, promised full compliance with transit regulations.
He assured authorities that stakeholders would not condone any diversion of trucks from their intended destinations in the Niger Republic.
What happened next
The inspection ended with customs officers escorting transit trucks from Kamba across the border to Tungan Kado in the Niger Republic.
Officials say similar monitoring exercises will continue to ensure the corridor remains secure, transparent, and economically viable.
Business &Economy
Nigeria Targets Seven-day Cargo Clearance as PEBEC, NPA Push Port Reforms
Nigeria loses billions of naira each year to congestion, paperwork delays, and inefficiencies at its ports—costs that are ultimately passed on to businesses and consumers.
Reducing cargo dwell time is seen as critical to lowering import costs, boosting trade competitiveness, and improving the ease of doing business.
What’s happening
The Presidential Enabling Business Environment Council (PEBEC), working with the Nigerian Ports Authority (NPA), has concluded a three-day stakeholder engagement aimed at reducing cargo dwell time to seven days.
The meeting, held at the Lagos Port Complex in Apapa, brought together regulators and private sector operators under the Business Environment Enhancement Programme Accelerator (BEEPA).
It followed a “shadowing” exercise in which officials observed vessel berthing and cargo clearance processes at both Tincan Island Port and Lagos Port Complex.
Government’s position
Speaking at the session, PEBEC Director General Zahrah Mustapha said the focus was shifting from identifying problems to implementing solutions.
“Nigeria loses significantly every day due to operational inefficiencies,” Mustapha stated.
“These are not just numbers; they represent missed opportunities, jobs not created, and delayed economic growth. This reform is about resilience and unlocking the nation’s economic potential.”
She said the reform effort brings together regulators and private sector players to ensure transparency and accountability.
According to PEBEC, the goal is to reduce cargo dwell time while also improving vessel turnaround time at Nigerian ports.
NPA response and reforms
Earlier, the Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, reaffirmed the agency’s support for PEBEC’s reform agenda.
He said the NPA is working with the International Maritime Organisation (IMO) to deploy a Port Community System (PCS).
The system is expected to serve as the digital backbone for Nigeria’s National Single Window, helping to eliminate manual processes and align port operations across agencies.
The NPA says this digital shift will reduce bottlenecks and speed up cargo processing.
Track record
The Ports Authority noted that it achieved a 100% success rate in implementing PEBEC reforms.
In 2025, the NPA ranked fifth among government agencies assessed, recording an 84.2% compliance score.
Officials say this performance provides a foundation for deeper reforms at the ports.
Industry and public impact
For importers and exporters, faster cargo clearance could mean lower storage costs, fewer delays, and more predictable supply chains.
What’s next
PEBEC and the NPA say the recommendations from the engagement will be rolled out in the coming months.
They aim to close gaps identified during the port inspections and create a more efficient maritime environment to support seamless trade.
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