A call has been made for the protection of investors, entreprenuers and as well as employers of labour in the country. The Chief executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, said this much in a position paper on “Protecting investors and employers: A national policy imperative” made available to The Nation, yesterday.

Yusuf, an economist, noted that while investors, entrepreneurs, and employers are the lifeblood of every modern economy, as they take risks, mobilise capital, create jobs, generate tax revenues, and drive innovation, but in Nigeria, their rights and investments remain inadequately protected.

Noting that the labour unions play a legitimate role in protecting workers, he nonetheless insisted that their activities must align with the law and national interest. Reforms in this aspect should include proportionality of industrial actions; designation of strategic sectors- including energy, health, transport, and ICT, as essential services, where strikes are restricted or prohibited; introduction of compulsory arbitration in essential sectors to prevent economic paralysis; clear sanctions and restitution requirements for unlawful strikes that inflict damage on businesses and the economy.

“Labour rights should end where those of employers begin. Investors should have as much rights to protect their investment as labour unions have the rights to protect the workers. There is a need for a fair and equitable balance. Mandatory publication of audited union accounts and governance records to enhance transparency,” Yusuf said.

According to him, while significant legal safeguards exist for workers and employees, there is no comprehensive framework that protects the interests of investors and employers. “This imbalance undermines investor confidence and leaves those who create jobs vulnerable to disruptions- particularly from industrial actions by labour unions. The real sector is especially exposed, given its large workforce, high fixed costs, and significant sunk investments. There are worries as well about the seemingly unlimited powers of regulatory institutions,” Dr. Yusuf said.

He therefore muted that a robust policy response that creates a fair, predictable, and secure investment climate; protects those who create jobs; and ensures that industrial relations are governed by law, due process, and mutual respect, has therefore become imperative.

“Protecting investors and employers is not a privilege, it is a national economic imperative. Without them, there can be no sustained growth, no employment, and no national prosperity. Nigeria must, therefore, urgently institutionalise a fair, secure, and predictable business environment that protects those who take risks to create wealth. This is not about weakening labour unions, but about balancing rights and responsibilities, to foster sustainable economic growth, social stability, and national security,” he argued.

Yusuf argued that investors in the country operate in an environment marked by uncertainty and institutional weakness. He noted key sources of vulnerability to include a of comprehensive legislation guaranteeing the rights of investors or shielding them from harassment, arbitrary regulatory decisions, or unlawful shutdowns; unrestrained union actions follow arising from a growing culture of coercion, intimidation and impunity among labour unions, resulting in industrial actions that are often out of proportion, which frequently escalate into large-scale disruptions that paralyse production, inflict huge financial losses and undermine national economic stability.

The CPPE boss also noted the role of regulatory unpredictability, arising from frequent policy reversals, inconsistent enforcement and opaque regulatory processes which raise business risks and discourage long-term investments; bureaucratic bottlenecks and weak dispute resolution which stems from cumbersome procedures, unauthorised enforcement actions and protracted legal disputes that create delays and uncertainty, undermining investor confidence and productivity. He noted that these factors erode Nigeria’s competitiveness, deter both local and foreign investment and slow economic growth and job creation.

Yusuf also said that these have not been without its economic and social consequences. For instance, investor vulnerability, he explained, carries serious macroeconomic and social consequences.

“When investors lose confidence, capital flight intensifies, foreign direct investment declines, and domestic enterprises contract their operations. The resulting chain reaction includes job losses, declining tax revenues, and reduced economic growth.

“Unrestrained strikes in strategic sectors such as energy, transport, and health disrupt production, threaten national security, and endanger public welfare. Policy inconsistency and regulatory arbitrariness make long-term planning difficult, deepening Nigeria’s dependence on imports and weakening its industrial base.

“Without corrective reforms, these trends will continue to erode national competitiveness, discourage innovation, and diminish Nigeria’s economic resilience,” he said.

The CPPE therefore mulls new investor and employer protection framework that will establish a fair, balanced, and predictable environment for business. Specifically, the Group noted that this new policy objective should protect investors and employers from arbitrary actions by regulators, labour unions, and government agencies; rebalance industrial relations to ensure fairness and due process for all parties; safeguard strategic sectors of the economy from disruptions that threaten national stability; promote regulatory and policy stability to reduce uncertainty and enhance competitiveness and ensure accountability and enforcement of laws by unions, regulators, and employers alike.

Specifically, it said the country should enact a dedicated Investor and Employer Protection Act to provide a strong legal foundation for safeguarding investors’ rights. The Act should, it said, should codify the rights and obligations of investors, employers, regulators, and unions; prohibit unlawful actions such as intimidation, coercion, unauthorised shutdowns, and harassment; establish penalties, damages, and restitution mechanisms for violations.

“The Industrial Arbitration Panel (IAP) should be strengthened for faster, impartial resolution of industrial disputes. An Independent Investment Ombudsman Office should also be created to handle investor complaints and mediate disputes involving government agencies,” the CPPE boss said.

• Reaffirms Commitment to Africa’s industrialisation
• Dangote is Ethiopia’s anchor investor – President Somali Region

A new chapter in Africa’s industrial story opened on Thursday as Aliko Dangote, President/Chief Executive, Dangote Group, led the groundbreaking of a $2.5 billion fertiliser plant in Gode, Ethiopia.
The project, a partnership between Dangote Group and Ethiopian Investment Holdings (EIH), with a production capacity of three million metric tonnes of urea annually, is expected to become one of the world’s largest fertiliser complexes.
Strategically located in Ethiopia’s South-East region, it will leverage the country’s abundant natural gas resources from the Hilal and Calub reserves to boost agricultural productivity, create jobs and enhance food security across the Horn of Africa.
Speaking at the ceremony, Ethiopia’s Prime Minister, Abiy Ahmed Ali, described the fertiliser project as more than just industrial progress, stressing that it symbolises shared responsibility, cooperation and peace. He said the project reflects Ethiopia’s commitment to harnessing opportunities and elevating its presence on the global stage.
“They embody our shared responsibility to harness opportunities, strengthen cooperation and promote peace. Hence, I call upon all Ethiopians to continue mobilising in unity for progress. By doing so, we elevate Ethiopia’s presence on the global stage in a way that honors the true spirit of our Ethiopian identity,” PM Abiy said.
Dangote commended Ethiopian Prime Minister Abiy Ahmed Ali and his cabinet for reforms and economic liberalisation that have opened key sectors to private investments and positioned Ethiopia as one of Africa’s most attractive destinations for global investors. He lauded the government’s investment in infrastructure, including transport, energy and the Grand Ethiopian Renaissance Dam, which he described as a foundation for the country’s industrialisation.
“This partnership with Ethiopian Investment Holdings represents a pivotal moment in our shared vision to industrialise Africa and achieve food security across the continent. We are committed to bringing our decades of experience in large-scale industrial projects to ensure this venture becomes a cornerstone of Ethiopia’s industrial transformation,” ” Dangote said.
He disclosed that the Gode project marks just the beginning, with plans to expand into the production of other fertilisers such as ammonium nitrate, ammonium sulphate, NPK and calcium ammonium nitrate, positioning Ethiopia as a regional hub for fertiliser production. He predicted that within five years, Ethiopia could become Africa’s leading agricultural nation.
This investment is Dangote Group’s second major project in Ethiopia. Its cement subsidiary has operated a 2.5Mta plant in Mugher for more than a decade, with an additional $400 million committed to doubling its capacity.
Across Africa, Dangote said the Group’s strategy is guided by the belief that “only Africans can develop Africa,” with a focus on manufacturing to reduce dependence on imports. He highlighted the Group’s role in transforming Nigeria into a net exporter of petroleum products cement and fertiliser, through its refinery, cement plants, and fertiliser expansion, which is set to become the largest in the world at nine million metric tonnes per annum.
“These investments have already changed Nigeria’s story. We’ve moved from being import-dependent to becoming self-sufficient and even exporters of cement, fertiliser and petroleum products. Our mission is to help other African nations achieve the same transformation.
We strive to make African countries become self sufficient in the production of those goods whose necessary raw materials are readily available. We have demonstrated that feat in the cement sector where many African countries are now net exporters of cement through our investments. We are ready and happy to work with more African countries to drive their industrialization plans and aspirations,” Dangote noted.
He described the Gode project as a “new dawn,” the first time a private African investor is partnering with an African country to build an industrial complex of this scale. “We understand Africa, its challenges, its opportunities and its potentials. And we believe only Africans can truly transform Africa,” he said.
“Our mission at Dangote Group is to lead Africa’s industrial transformation,” he said. “This project marks the first time a private African investor is partnering with an African country to build such an industrial complex.”
He hinted at the establishment of polypropylene bagging plant to boost the industry in Ethiopia.
Dangote expressed gratitude to financial institutions including Afreximbank, Africa Finance Corporation, Access Bank, First Bank, Zenith Bank, and other indigenous banks for supporting the project.
Meanwhile, the President of the Somali Region, Mustafa Omar, described Aliko Dangote as “the anchor investor Ethiopia has been looking for.”
He noted that Dangote is not only a trusted investor but also one who is highly appreciated by both Ethiopians and Africans at large.
The Chairman of the Nigerian Exchange Group (NGX), Dr Umaru Kwairanga, has praised Ethiopia’s leadership for its economic strides and voiced optimism about stronger economic relations between Nigeria and Ethiopia.
Speaking on the new fertiliser complex, Dr Kwairanga described it as a “gigantic project befitting of Aliko Dangote’s vision and execution capacity.”
He noted that the African industrialist had consistently demonstrated a strong commitment to advancing the continent’s self-sufficiency and development.
The event was attended by senior Ethiopian government officials, industry leaders, and financiers.
Across Africa, the Group’s industrial story is expanding. Dangote Cement alone has a total installed capacity of 55 million tonnes per annum across 11 countries. The company also built the world’s largest single-train refinery in Nigeria, with a capacity of 650,000 barrels per day, alongside a one million metric tonne polypropylene plant. Its fertiliser arm, which started at three million metric tonnes, is being expanded by six million tonnes, a move that will make it the largest fertiliser operation in the world.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said it has achieved 16 high impact feats since its establishment four years ago despite the legacy challenges it inherited from the pre-Petroleum Industry Act era.
According to a statement signed by the Commission’s Head, Media and Strategic Communication, Eniola Akinkuotu, in 2022, 2023 and 2024, the NUPRC surpassed its revenue target by 18.3 per cent, 14.65 per cent and 84.2 per cent respectively despite fluctuations in oil production and prices thus contributing largely to the country’s economic growth.
Still, it noted that between 2024 and 2025, it approved 79 Field Development Plans (FDP), that is, 41 in 2024 and 38 YTD 2025, with potential investment of $39.98 billion, made up of $20.55b in 2024 and $19.43b in YTD 2025.
NUPRC further said since its inception, crude oil production has increased with current average daily production of 1.65Mbopd expected to increase further with the Project 1Mbopd initiative which is aimed at achieving 2.5 Mbopd in 2027 compared to NUPRC commencement.
“Prior to the establishment of the Commission, the licensing rounds were opaque. They were beclouded by political influence which made the process lack credibility. However, the NUPRC with the support of President Bola Tinubu, transformed the process to be fully digital thereby enhancing transparency and credibility. It was the most transparent bid round on record in Nigeria’s upstream petroleum history as it leveraged digital technology, devoid of any human interference, in a manner adjudged to be in line with global best practices which was even attested to by the Nigeria Extractive Industries Transparency Initiative (NEITI),” the Commission said in a statement.
In line with the PIA 2021, implementing the ‘Drill or Drop’ policy which prescribes that unexplored acreages are to be relinquished, has also been implemented. The policy is designed to ensure the optimal use of oil assets and prevent dormant fields from tying up potential reserves. This policy successfully identified 400 dormant oil fields and has also propelled complacent oil companies to take quick action.
It noted further that the rig count in the upstream oil and gas sector, rose geometrically from eight in 2021 to 69 as of October 2, 2025. The latest rig count of 69 which comprises 40 active rigs, eight on standby, five on warm stack, four on cold stack and 12 on the move, represents a 762.5 per cent increase in barely four years. The number is expected to increase even further in the coming months. This shows a renewed investor confidence in Nigeria and that the right investment climate prevails now in the Nigeria upstream as daily actioned by the NUPRC.
The Commission approved divestments running into billions of dollars in 2024. From the Nigeria Agip Oil Company (NAOC) to Oando Energy Resources; Equinor to Chappal Energies; Mobil Producing Nigeria Unlimited to Seplat Energies; and Shell Development Company Nigeria Limited to Renaissance Africa Energy. The divestment is about investor portfolio re-ordering to focus on deep-offshore development.
To give meaning to the intent of the PIA, 2021, the Commission in consultation with stakeholders has developed 24 regulations. So far 19 have been gazetted while five await gazetting. These forward-thinking Regulations serve as tools for transparency and creation of enabling investment climate and benchmark best practices
In gas flaring commercialization efforts, the commission completed awards of flare sites to successful bidders under the Nigerian Gas Flare Commercialisation Programme (NGFCP). The programme is aimed at eliminating gas flaring and attracting at least $2.5 billion in investments.
Still, the Host Community Development Trusts have remitted N122.34b and over $168.91m as of October 2025. This translates to a combined remittance of over N358.67b based on the prevalent exchange rate in enthroning a conducive host community environment in Nigeria. The Commission is also overseeing at least 536 projects at various stages of completion including schools, health centers, roads and vocational centers being funded by the trust fund.
It is worthy of mention that as part of its mandate to develop the country’s hydrocarbon, the Commission has recorded 306 development wells drilled and completed between 2022 to date. It has also removed hindrances to exploration with 2D and 3D Seismic Data with the issuance of Nigeria’s first Petroleum Exploration Licence (PEL) for a large offshore geophysical survey covering 56,000 km² of 3D seismic and gravity data.
Furthermore, the Commission has reprocessed 17,000 line-kilometres of 2D seismic data and 28,000 square kilometres of 3D seismic data, producing sharper, higher-resolution images of the country’s petroleum systems thereby reducing the uncertainties that once hindered exploration decisions.
Other data acquisition includes: 11,300 Sq.km of newly acquired 3D data, processed to PSDM and 80,000 Sq.km of Multibeam Echo Sounding & Seafloor Geochemical Coring data.
In 2021, the average daily crude oil losses stood at 102,900 barrels per day or 37.6 million barrels per year. However, due to combined efforts of the General Security Forces and Private Security Contractors (TANTITA) as well as collaborative effort of the Commission this has reduced by 90 per cent to specifically 9,600bpd in September 2025. Furthermore, two pioneer regulations introduced by the Commission have also contributed to the success, namely: The Upstream Measurement Regulation and the Advanced Cargo Declaration Regulation respectively, have contributed as pioneer efforts at achieving transparency in hydrocarbon accounting.
Even outside the shores of Nigeria, the engineer Gbenga Komolafe-led NUPRC has continued to show leadership as it championed the establishment of the African Petroleum Regulators Forum (AFRIPERF). AFRIPERF provides regulators with the mechanism to harmonise oil and gas development policies to facilitate cross-border infrastructure development, benchmark fiscals and present strong voice for Africa in hydrocarbon advocacy globally.