Business
Protection of investors should be a policy imperative, says Yusuf
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.
- Dangote Refinery supplied 40.7ml/d to the domestic market, exported 17.1ml/d
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that in April 2026, Nigeria met 99.2 per cent of its Organisation of Petroleum Exporting Countries (OPEC) crude oil production quota of 1.5mb/d.
This was revealed in the X handle of the commission, which stressed that the output rose to 1.48b/d of crude oil and 174,873b/d of condensate.
The total crude oil and condensate production, according to NUPRC, was 1.66mb/d.
“Nigeria’s production increased in the month of April to 1,488,540 barrels of crude oil and 174,873 barrels of condensates totaling 1, 663, 413 barrels per day. This implies that Nigeria met 99.2 per cent of its 1.5mbpd OPEC quota of crude oil.”
The report revealed the that the figure also represents a 7.58 per cent increase when compared to the month of March. NUPRC said the peak production in April was 1.85mbpd while the lowest production for the month was 1.46mbpd.
In a related development, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in its April 2026 Factsheet released yesterday, said domestic consumption of Premium Motor Spirit (PMS) or petrol rose to 51.1ml/d in April compared to the 47.3ml/d recorded in March 2026.
In this period, 40.7ml/d were supplied from the domestic refineries, while 3.7ml/d were imported compared to 34.2ml/d that was supplied from domestic refineries in March as well as the 5.9ml/d that was imported in the same period. Stock sufficiency, however, reduced to 17.7 days from the 15.5 days in the previous month.
According to the NMDPRA, in the period under review, Dangote Refinery Petrochemicals Company (DRPC) achieved 100 percent capacity utilisation for most of the days in April with an average of 99.12 per cent capacity utilisation.
According to the factsheet, the refinery produced 53.6ml/d of petrol, supplied 40.7ml/d to the domestic market and exported 17.1ml/d.
Equally, in the same period, Dangote produced 23.6ml/d of diesel, supplied 8.0ml/d to the domestic market and exported 17.8ml/d. Similarly, the refinery produced 22.9ml/d of aviation kerosene, supplied 2.6ml/d to the domestic market and exported 20.5ml/d.
Dangote, according to the factsheet, recorded 18 days sufficiency of petrol, 39 days of diesel, 70 days of aviation fuel, and 13 days of LPG.
On the other hand, NMDPRA said the Nigerian National Petroleum Company refineries, which are state-owned were shutdown in April.
According to the factsheet, Warri Petroleum Refinery Company (WRPC) and Kaduna Refinery Company (KRPC) were recorded zero production.
On the daily consumption benchmarks, NMDPRA said in April, the benchmark for petrol was 51.1ml/d, diesel 17.3ml/d, aviation fuel 2.6ml/d and 4.8KT/day of domestic gas.
On crude oil, NMDPRA said the volume supplied to domestic refineries decreased to 0.612mb/d from the 0.674mb/d recorded in March.
The Nigeria Customs Service (NCS) is deepening its investment in human capital and institutional development, with Comptroller-General of Customs, Adewale Adeniyi, pledging renewed support for research, ICT infrastructure and student-focused projects at Yakubu Gowon University.
Adeniyi made the commitment on Tuesday at the Customs Headquarters in Maitama, Abuja, while receiving the Vice-Chancellor of the university, Hakeem Fawehinmi, alongside other principal officers during a courtesy visit focused on expanding institutional collaboration.
The Customs boss said the Service was prepared to revive and strengthen a long-standing partnership with the university through targeted interventions capable of delivering measurable impact in education, border management studies and national development.
Speaking during the engagement, Adeniyi recalled that discussions to formalise collaboration between both institutions dated back several years when he served as Commandant of the Nigeria Customs Command and Staff College.
He said: “I have a long institutional history with this university. During my tenure as Commandant of the Nigeria Customs Command and Staff College, we made serious efforts to formalise a partnership through a Memorandum of Understanding. We went very far in the process and were close to signing, but leadership changes on both sides affected the process.”
Despite the delay in formalising the agreement, the CGC noted that the Service had sustained support for the institution through several interventions designed to improve learning conditions and digital access.
“At different times, we supported the university with transportation facilities, including the provision of a 32-seater bus. We also established a fully equipped computer centre with close to one hundred workstations. These were deliberate efforts aimed at building lasting institutional partnerships,” Adeniyi said.
The Customs helmsman stressed that the Service was more interested in projects with direct and sustainable impact on students and the academic environment.
“For us, beyond legacy, what matters most is impact. We understand the realities facing Nigerian universities, from transportation challenges to infrastructure gaps. Our interest is to support initiatives that will create a conducive learning environment and positively impact students,” he said.
Adeniyi further explained that the Service was willing to adopt a phased implementation strategy in executing identified projects where necessary.
“If there are multiple projects and we are unable to execute everything at once, we can adopt a phased approach and focus on priority areas that will make the greatest difference,” he added.
He also underscored the importance of strengthening the profile of the Federal Capital Territory’s premier public university, noting that the institution should reflect Abuja’s national status.
“It is important for us to have a university in Abuja that truly reflects the status of Nigeria’s capital. I am willing to work with you in that regard,” the CGC noted.
Earlier, Fawehinmi commended the leadership of the Nigeria Customs Service under Adeniyi, describing the agency as a critical institution supporting the Federal Government’s economic and governance reforms.
He explained that the university’s growing student population and operational demands had made strategic partnerships increasingly important, especially in areas relating to transportation, ICT infrastructure and research support.
“We have come with the highest level of leadership of the university to congratulate you and appreciate the tremendous work being done by the Nigeria Customs Service under your leadership.
“As the only conventional public university in the Federal Capital Territory, we face enormous responsibilities. Support in areas such as mass transit buses, ICT infrastructure, research facilities, and professional collaboration will significantly strengthen our capacity,” he said.
The Vice Chancellor also identified the university’s Centre for Defence and Migration Studies as a potential platform for collaboration with the Customs Service in border management, migration studies, executive training and national security research.
“We are ready to partner with the Nigeria Customs Service. The real beneficiaries of such collaboration will be young Nigerians who represent the future leadership of this country,” he added.
The President/Chief Executive of Dangote Group, Aliko Dangote, has a series of high-level bilateral meetings with global financial leaders on the sidelines of the IMF World Bank Spring Meetings in Washington, D.C., as part of efforts to deepen investment flows and strengthen partnerships in Nigeria’s energy and industrial sectors.
Dangote also delivered the keynote address at the launch of the World Bank Group’s flagship global initiative, Water Forward, a programme aimed at repositioning water systems from basic social utilities into catalysts for industrialisation, job creation and large-scale economic growth across emerging and developing economies. He underscored the critical role of private sector investment and infrastructure in unlocking the economic value of water.
The event drew a distinguished audience including heads of government, the Secretary-General of the United Nations, leaders of European development institutions, multilateral development partners, ministers of finance and economic planning from over 100 countries, central bank governors, global regulators, business executives and donor agencies, reflecting the scale and urgency of the initiative.
In separate engagements, Dangote met with the President of the World Bank Group, Ajay Banga, the Managing Director of the International Monetary Fund, Kristalina Georgieva, and the President and Chairman of the Export-Import Bank of the United States, John Jovanovic. Discussions focused on private sector-led growth, macroeconomic reforms and unlocking financing for large-scale infrastructure, trade expansion and industrial development across Nigeria and Africa.
The engagements come at a time of renewed momentum in Nigeria’s energy sector. The country became a net exporter of petrol last month for the first time in decades, as the Dangote Petroleum Refinery & Petrochemicals drove a shift from import dependence to local production.
Data from Kpler shows Nigeria exported about 44,000 barrels per day of petrol during the month, slightly exceeding imports and resulting in a net surplus of roughly 3,000 barrels per day. This milestone aligns with Dangote Group’s newly unveiled long-term growth strategy, “Vision 2030: Supercharging Dangote Group for Long Term Success,” a two-phase expansion programme spanning 2025–2028 and 2028–2030.
Under the plan, the Group aims to scale and optimise its existing operations while expanding capacity across key sectors. This includes increasing the capacity of the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day, as well as quadrupling fertiliser production from 3 million tonnes per annum to 12 million tonnes per annum, a move expected to position the company as the world’s largest producer of urea.
The strategy also outlines expansion across cement, rice and broader food production, alongside new investments in infrastructure such as ports and pipelines, gas, mining, data centres and power, identified as critical to Africa’s industrial transformation and digital resilience.
Analysts say the high-level meetings reinforce Dangote Group’s strategic positioning at the intersection of global capital and Africa’s industrial growth, amid increasing international focus on Nigeria’s economic reforms and rising refining capacity.
The IMF World Bank Spring Meetings convene policymakers, business leaders and development partners from across the globe to deliberate on economic outlook, financial stability and pathways for sustainable growth.
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