Seleem Adegunwa, the Managing Director and Chief Executive Officer of Rite Foods Limited, has encouraged students of the Nigerian University of Technology and Management (NUTM) to recognise and pursue the vast opportunities available within Nigeria’s business landscape.

Addressing students at NUTM’s campus in Apapa, Lagos, on 7 May 2025, Mr Adegunwa delivered a motivational lecture alongside members of Rite Foods’ top management team. He challenged the students to dream big, stay committed, and embrace the identity of being proudly Nigerian.

“Take hold of the opportunities that abound in the country, adopt measures of attaining your dreams, be courageous, committed to your course, and be proudly Nigerian,” Mr Adegunwa stated.

Drawing inspiration from the trajectory of Rite Foods, which began modestly and grew into one of Nigeria’s leading fast-moving consumer goods (FMCG) firms, Mr Adegunwa explained how indigenous innovation had driven the company’s success.

“Our company entered the market with disruptive innovation that is uncommon for an indigenous brand,” he said. “This is evident in the Fearless Energy Drink’s first-ever polyethylene terephthalate (PET) bottle package and the Nigerian symbol featured on the Bigi Carbonated Soft Drink design, which was later copied by competitors.”

He encouraged the students to believe in their capacity to thrive in any field, adding that commitment, creativity, and perseverance were crucial ingredients for success.

“As Nigerians, we have the innate ability to excel in whatever career or enterprise we choose. Keep working on your business ideas to get the one that works better, that you can put into practice to achieve positive outcomes. Study a course of your choice and do your best to be good at it,” he advised.

In a call for practical learning, the Rite Foods CEO highlighted the value of gaining work experience and aligning personal goals with individual strengths.

“Entrepreneurship is hard work. Do what works for you and something that relates to your passion or how you are wired. Obtain work experience to understand how businesses are run before you launch out,” he added.

In his closing remarks, Dr Babs Omotowa, Founding President of NUTM, praised Mr Adegunwa for the inspiring session.

“Your speech will instill much discipline in the students and advance their course in their academic and future business pursuits,” Dr Omotowa said.

President Bola Ahmed Tinubu has fully repaid all outstanding loans Nigeria owed the International Monetary Fund (IMF), marking a major milestone in his administration’s economic reform agenda. The development has been described by civil society groups as a bold and strategic move towards fiscal sovereignty and long-term economic stability.

Historically, Nigeria has turned to the IMF to support its economy during periods of fiscal imbalance, currency depreciation, and developmental shortfalls. While IMF loans often provide temporary relief, they also come with stringent conditions that can restrict domestic economic autonomy.

In a statement released by the Frontline Socio-Economy Research Centre (FSRC) and co-signed by several civil society organizations, Balogun Hameed, Convener of FSRC, lauded the move:

“With a determination to resuscitate the glory of the Nigeria economy, President Bola Ahmed Tinubu (PBAT) is not leaving any stone unturned. This determination is what keeps motivating him from the inception of this administration to ensure that all economic inhibitors, especially the external ones like the IMF Loans are cleared off. To this end, it is a big relief to hear that PBAT has finally settled all the debts Nigeria is owing the IMF with all necessary documents signed and counter signed this past week.”

The group emphasized that the full repayment of IMF loans will ease Nigeria’s debt burden, reduce interest servicing costs, and free up revenue for investment in critical sectors such as transport infrastructure, healthcare, and education.

“Repaying these loans in full will, no doubt, bring about significant economic and political benefits that would contribute to long-term national stability and economic growth,” Hameed said.

Furthermore, the group noted that Nigeria’s international creditworthiness will improve significantly, enhancing investor confidence and attracting more Foreign Direct Investment (FDI).

“The full repayment would enhance the status of Nigeria’s international creditworthiness, which will in turn send a signal to global investors, credit rating agencies, and financial institutions that Nigeria has now become a responsible economy and more committed to debt management.”

The statement added that with the end of IMF loan dependency, Nigeria can now design and implement economic policies without external interference, allowing greater policy flexibility.

“Once this is regained, Policy Flexibility then comes in. Nigeria implements its own economic policies without being tied to IMF unconditionally, which often requires specific policy adjustments,” the strategist noted.

The CSO coalition expressed optimism that the new economic landscape will empower Nigerians to build small and medium enterprises with long-term growth potential.

“Nigerians would have a convenient economic space where they can confidently start a business on a small scale, nurture it, and then turn it into a medium and macro venture in the long run.”

The group also praised Tinubu’s administration for showing commitment to fiscal discipline and urged Nigerians to remain patient.

“With PBAT’s Midas touch, foreign, international, and local investors will now be confident that Nigeria as a nation is committed to fiscal discipline that attracts more foreign investment.”

“As a civil society group, we would continue to commend President Tinubu administration’s economy policy for his bold steps and initiatives. We would also like to assure Nigerians that better days are close to sight. So we appeal to Nigerians to be a little more patient with PBAT as he is tirelessly working to lay a stronger economic foundation for citizens and investors to build macro ventures and mega businesses.”

President Bola Ahmed Tinubu has praised Anambra State Governor, Prof. Charles Soludo, for his proactive and strategic approach to tackling insecurity in the State.

Speaking at Alex Ekwueme Square in Awka during his first official state visit to Anambra on Thursday, President Tinubu acknowledged Governor Soludo’s deliberate security actions which have led to significant reductions in violence and criminal activity across the region.

“I must acknowledge Governor Soludo’s proactive efforts towards tackling insecurity in Anambra,” said President Tinubu.

“Together, we will defeat them, we will defeat insurgency and achieve a peaceful and prosperous nation.”

Governor Soludo’s security framework, notably the launch of Operation Udo Ga-Achi (Peace Must Reign) and the strengthening of the Agunechemba vigilante group, has received widespread acclaim. These initiatives aim to dismantle entrenched criminal networks and restore order in the State.

Observers from both the public and private sectors have commended the approach, with calls for the Soludo security model to be replicated across the South-East and the wider country.

The President’s visit also included the commissioning of several landmark projects delivered under the Soludo administration. Among them are a world-class, eco-friendly tech-driven mini-city; a new government house that breaks a 34-year jinx; and the Solution Fun-City—a comprehensive leisure destination featuring a family fun-house, country club, water park, and amusement centre.

Governor Soludo reiterated his administration’s commitment to sustaining efforts aimed at disrupting criminal activity and ensuring safety for Ndi-Anambra.

“Peace shall indeed reign in Anambra,” he said, expressing optimism that the tide is turning in favour of security and development in the State.