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“Government has No Obligation to Support Businesses.” – Sujimoto’s Open Letter to Mr. President

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Dear Mr. President,

In 1978, Steve Jobs raised over a million dollars from the garage of his house through the use of his intellectual collateral, not a property, to develop the largest technology company and the biggest firm in the world today by market capitalization.

The multi-trillion-dollar vision with a backbone of public research funding from the U.S.

government was achieved based on the national importance of driving innovation and as a sign that government investment and its initial leg into great companies do not only present tax

benefits but also profit the entire ecosystem.

Government creates greatness. In fact, renowned industrialists like John D. Rockefeller,

Cornelius Vanderbilt, and Sakichi Toyoda, among a host of other business magnates who

received firm governmental support, have today created empires that provide jobs for millions of people globally.

Your excellency, there’s no greater and more fascinating story than a flourishing economy that thrives on innovative businesses. Thus, intentional support for subsidising businesses and dreams is a strategic and intelligent thing to do as a nation.

In Nigeria today, no start-up or entrepreneur can raise one naira in pre-seed funding without having to provide an arm and a leg. A demand for physical collateral that cripples’ revolutionary ideas and quenches the visionary flames of entrepreneurship.

With over 200 million citizens and a pregnant economy that must be delivered through the

surgical needle of proper restructuring, the Nigerian business landscape must recover from its 77 percent year-on-year funding decline, a sharp fall from the $2 billion that the startup

ecosystem attracted between July 2021 and June 2022 to $470 million in the last year (July

2022 to June 2023).

Asiwaju, as the economy continues to find its feet, the hikes in food prices and transportation are slowly eating deep into the moral fabric of society. Uncommon entrepreneurs are forced to explore new terrains with the Jakpa syndrome, where countless of Nigeria’s brightest minds seek opportunities elsewhere, away from their homeland.

Even companies with over 100 employees are being forced out of business or in debt due to a series of negative funding. An employee who earns N200,000 as a monthly salary today still struggles with the skyrocketing cost of living, which takes up more than 70 percent of theincome. This influences the decision of such staff to seek alternative ways of surviving while living in debt, even before salaries are paid (if paid on time or even ever paid after 3 months).

Father, Nigeria’s current economic situation is like a mosquito sitting on one’s scrotum; the

slightest amount of anger or irritation will lead to excruciating social and economic unrest.

Although all hopes are not dashed, in fact, new ones are being created as businesses gradually move from brick-and-mortar into the digital space. In today's fast-paced society, the criteria for support should shift from tangible to intellectual assets, where vision can be invested in with funding and monitoring timelines and milestones, creating an enabling environment where

competence and integrity prevail over connections and deceit.

As it stands today, no Nigerian bank is able to give any entrepreneur, visionary businessman, or woman one naira without a property asset or fixed asset to be held as collateral.

Amidst innovative thinking, financial engineering has crippled the growth of radical

entrepreneurs, who have no problem with the presence of vision but lack everything in the

acquisition of tangible collateral.

For Nigeria to reclaim its position as the Jewel of Africa and maintain her stance as the

economic heart of Africa, it is crucial to urgently take into consideration this:

7 Pillars to tackle economic deprivation in Nigeria:

Funding Opportunities: One of the biggest challenges facing entrepreneurs is access to capital.

Funding remains the engine that propels innovation, generates new businesses, and brings

fresh products and services to the market. As such, government has to encourage financial

institutions to create an intellectual and creative collateral system for businesses with no

alternative for physical collateral such as lands or properties.

Reducing the regulatory burden on entrepreneurs: To further promote the entrepreneurship culture, especially among youths, the current political dispensation has to reduce the bureaucratic red tape by simplifying and streamlining the process of starting and running a business. For example, the World Bank’s Ease of Doing Business Index ranks countries like Singapore and the United Arab Emirates at the top of the list due to their business-friendly policies, while Nigeria is not even among the first one hundred.

Agricultural Exploits for Food Security: If you travel through the Lagos to Ibadan expressway,

or the Kano-Zaria road, spans of land remain uncultivated, creating backlogs of agricultural

deficits that won’t only tackle food scarcity if properly utilised but also create jobs for potential farm entrepreneurs while drastically reducing crime rates.

Nigeria is blessed with over 34 million hectares of arable land, a farming sector that has the

potential to contribute above 23% to the nation’s GDP.

As a symbol of hope, Suji Farm Estate, a subsidiary of the esteemed Sujimoto Group, is taking on the mantle with a firm plan to allocate over 20,000–1,000,000 hectares before 2030, spreading across all geopolitical zones and all 36 states, for localised food production and mass employment opportunities designed to provide job security for over 10,000–200,000 citizens nationwide. With a clear plan for setting up a team of young, independent, and outstanding youth to supervise work, live, and play on the farm.

Suji Farm Estate will be built on an advanced farm estate system that incorporates housing,

farm hospitals, hotels, and markets within an ecosystem, creating opportunities for agro-

tourism and affordable housing.

In tackling food security, aside from creating thousands of farm entrepreneurs, the government must seek out innovative people—not only Sujimoto Farms but also numerous young agro- entrepreneurs across all 37 states—who have exceptional reputations, passion and technical know-how, encourage them, and fund them. It is in the government’s interest to intentionally fund businesses and projects with strong potential to impact our dare economy, which will eventually drive taxes and many other benefits for the nation.

An idle hand is the devil’s workshop: Nigeria currently sits on a keg of gun powder as the

unemployment rate remains on the rise. The youth of the nation is our biggest asset, and it is alarming that over 42% of her population is out of work, a silent time bomb and a destructive tool vulnerable to use by terrorists, banditry, and other related vices. It is urgent that the youth start putting their expertise into farming and other lucrative ventures.

Government supports innovative enterprise: Yes, not all governments have the obligation to

support businesses, but governments have a moral duty and obligation to partner with

businesses because a thriving business is a thriving nation.

Great nations like Egypt and Singapore are intentionally encouraging localised production and promoting local enterprises. It is high time for the Nigerian government to create stimulus packages for businesses and local entrepreneurs to help them achieve their goals, promote job opportunities, and drastically improve foreign exchange. This should not come in the form of grants but in affordable and accessible loan packages for specified durations.

Sectoral Research and Development: If Elon Musk was in Lagos, he probably would have ended up in computer village selling mobile devices, with his innovative ideas frustrated due to lack of funding. Steve Jobs also may have been a genius entrepreneur—he certainly had an eye for design—but his most successful product would not exist if it weren’t for the billions of dollars that the US government spends every year on research and development.

Just like SpaceX, although it is not yet in the full stage of generating revenue, the American

government has also maintained a great share in funding the technological corporation because of its economic relevance and research impact on global society.

Nigeria can’t afford to think small. As the giant of Africa and the biggest nation in Africa with

the biggest problem, the government needs to go out there and identify 10,000–50,000

outstanding entrepreneurs from all 36 states who have the capacity and reputation to do things differently, empower them beyond physical collateral, invest in their intellectual property, and create an enabling environment where competence and integrity prevail over connections and deceit.

Localised Production, Global Distribution: As of today, a 50-KG bag of rice costs N42,000 from the mills and about N52,000 from supermarkets, whereas the same bag of rice is worth N22,000 at Seme Border, Republic of Benin. The secret to reducing the price is by growing the paddy locally and setting up rice mills in individual states, drastically reducing the cost of rice and food.

This is what Suji Farms Estate aims to achieve in the next 24 months, where we will be able to grow our paddy, mill the paddy, and distribute them directly to supermarkets across the nation, drastically reducing the cost of a bag from N52,000 to N35,000. This will further improve our nation’s human capital development and deliberately improve the nation’s food security, but we are only one company, and we believe the government can partner with other innovative agro-entrepreneurs, providing them with accessible, affordable, and non-stressful capital.

With a clear blueprint to develop affordable housing, improve the agricultural sector, and foster job opportunities within the retail space, Sujimoto Group has over the years built a solid reputation in the luxury real estate sector and is positioning itself to drastically reduce the housing deficit and bridge the unemployment gap in the next 5 years with the 1,000,000-hectare Sujimoto Farm Estate nationwide project.

To achieve this feat in an environment where funding is almost impossible and access to land is difficult, the present-day government must stretch its hand of collaboration, fund astounding projects, and tie performance bonds to them while monitoring project milestones and timelines. On the other hand, the funding isn’t for free, as government will also generate income through payback, business taxes, and employer income taxes.

“My dear President, I know that you have created a solid road map and a fantastic blueprint for the next eight years, for I believe that the feat of achievement you attained in Lagos State and the successful entrepreneurs you’ve created between 1999 and 2007 can be replicated again on a national scale.”

Thank you, your distinguished excellency.

Dr. Sijibomi Ogundele is the Managing Director of Sujimoto Group, the Czar of Luxury Real

Estate Development, and the mastermind developer behind the renowned Giuliano. Our other audacious projects, such as the most sophisticated building in Banana Island,

LucreziaBySujimoto, the grandiose Sujimoto Twin Tower, the tallest twin towers in Africa; the regal Queen Amina by Sujimoto, a monument to royal affluence; the magnificent high-rise LeonardoBySujimoto; Nigeria’s No. 1 most affordable luxury housing, Ìlú Titun, and Africa’s most exclusive waterfront townhouses, GiovanniBySujimoto, some of which have etched an indelible imprint on Nigeria’s skylines, a testament to their unrivalled mastery of modern day engineering.

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Warri Refinery:  NNPC and the Triumph over Scepticism 

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After a decade-long closure, the Warri Refining & Petrochemicals Company in Delta State resumed operations on December 30, 2024, to the astonishment of everyone present at the vast refinery complex in Ekpan, Warri. The event was marked by the presence of key figures, including the Board Chairman of NNPC Limited, Chief Pius Akinyelure; Group Chief Executive Officer Mele Kyari; the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed; and the Managing Director of WRPC, Efifia Chu. These leaders, alongside excited workers and journalists, were on hand to witness the successful startup of the refinery’s CDU, Gas Plant, and VDU, commonly referred to as Area I.
The reopening sparked palpable excitement, with Harry Okenini, Chairman of the Delta State chapter of the Independent Petroleum Marketers Association of Nigeria, unable to contain his joy. He shared that before coming to the refinery on that day, he had first made a stop at a church to offer thanksgiving, uncertain if the news of the refinery’s revival was true.
The celebratory mood at the refinery, which has a capacity of 125,000 barrels per day, could be likened to the remarkable and rare recovery of a patient from a 10-year coma. Given the troubled history of government-owned refineries in Nigeria, the Warri refinery’s revival after such an extended closure was seen as nothing short of extraordinary. Many had believed that only privatisation could bring about a change in the fortunes of these refineries, with the argument that the government should not be in the business of running businesses.
However, despite such doubts, the Federal Government, under President Muhammadu Buhari, had committed to reviving the country’s four state-owned refineries, which collectively have a capacity of 445,000 barrels per day. This included plans for the 110,000 bpd Kaduna refinery, the 60,000 bpd Old Port Harcourt refinery, the 150,000 bpd New Port Harcourt refinery, and the Warri refinery. Despite the government’s assurance, many were sceptical, given the history of neglect, poor management, and failed multi-billion-naira maintenance projects that had plagued these facilities for years.
The Bureau of Public Enterprises had reported that the Warri refinery had never achieved full capacity utilisation, and after years of decline and shutdown in 2015 due to disrepair and crude shortages, many dismissed the government’s pledge to revamp it as political rhetoric.
Thus, when Mele Kyari, the NNPC GCEO, toured the facility on December 30, 2024, and declared, “This plant is running. We have not completed 100%,” it was a strong affirmation of the resilience and determination of NNPC under his leadership. It was the triumph of resilience in an NNPC known prior for turnaround maintenance scandals running into billions of naira.

The Warri Refinery resumed operations months after the NNPCL successfully restarted the 60,000-barrel-per-day Old Port Harcourt Refinery, which had been dormant for over 30 years. The revival of the Port Harcourt refinery was initially met with scepticism, fueled by critics who sent misleading signals to the public, casting doubt on the claims made by NNPC Ltd. that the refinery was operational.
Mele Kyari, who had encouraged stakeholders—including labour unions and federal lawmakers—to visit the Port Harcourt refinery and verify NNPC’s claims, had confidently pledged that the Warri and Kaduna refineries would soon follow suit, to the dismay of the doubters. And, despite numerous challenges, he delivered on these promises.
The revitalisation of these refineries exemplified resilience, overcoming years of neglect and adversity, and making a lasting impact on Nigeria’s oil industry. Kyari’s leadership will be remembered for slaying the proverbial dragon—the moribund refineries—that had long defied solutions. Revamping the refineries has become one of his most significant achievements, with profound and enduring effects.
Recognising the monumental task of operationalising two refineries that had been inactive for decades, the Nigeria Extractive Industries Transparency Initiative (NEITI) commended Kyari’s leadership at NNPC for its determination, transparency, and focus in delivering the first phase of the Port Harcourt refinery rehabilitation and the gradual resumption of operations at Warri.
“We commend the leadership of the NNPCL team for their resilience, dedication, and unwavering determination in executing this complex and challenging task,” said Obiageli Onuorah, the acting Director of Communication and Stakeholders Management at NEITI.
NEITI further acknowledged that the revitalisation could significantly enhance energy security, create jobs, stimulate local industries, and free up vital funds for health, education, and infrastructure.
The agency also urged NNPC Ltd. to accelerate the second phase of the Port Harcourt refinery’s rehabilitation and the ongoing work at the Kaduna refinery.
President Bola Tinubu, speaking through his Special Adviser on Information and Strategy, Bayo Onanuga, applauded NNPCL for this achievement.
“The restart of the Warri Refinery brings joy and hope to Nigerians. This milestone will further strengthen the confidence of Nigerians in the brighter future we promised. It is a remarkable way to end the year, following the earlier success with the old Port Harcourt Refinery. I am pleased that NNPCL is implementing my directive to restore all four refineries to full working condition. I congratulate Mele Kyari and his team at NNPCL for their hard work in restoring our national pride and positioning Nigeria as a hub for crude oil refining in Africa.”
Tinubu expressed confidence that, with the Warri refinery now operating at 60% capacity, the administration’s comprehensive energy plan was on track.
The President also called on NNPC Ltd. to expedite repairs at the Kaduna Refinery and the 150,000-barrel-per-day second Port Harcourt refinery to further strengthen Nigeria’s position as a global energy leader.
To avoid any further controversy about the operational status of the Warri refinery, I visited the facility myself and can confirm it is indeed functioning at 60% of its installed capacity, as declared by Kyari. The refinery is currently producing diesel, gas, and kerosene.
During my visit, I witnessed Bayo Adenrele, Refinery Coordinator at NNPC Ltd.; Isiyaku Abdullahi, EVP of Downstream at NNPC Ltd.; and Mele Kyari, the NNPC GCEO, overseeing the loading of refined products at the WRPC’s loading terminal. They tested the smart meters installed at the loading point, ensuring that product theft would no longer be an issue.
Similarly, Harry Okenini, Chairman of IPMAN in Delta State, confirmed that his members were already lifting automotive gas oil (diesel) and kerosene from the refinery.
“For now, only diesel (AGO) and dual-purpose kerosene (DPK) are being produced and loaded for consumption. We expect cooking gas, PMS, and other products to come on stream by February,” Okenini said.
Israel Omokere, National Chairman of Surface Tank and Kerosene Peddlers (a branch of NUPENG), echoed the same sentiment, confirming that the loading of AGO and DPK is ongoing, with PMS expected soon.
One noteworthy aspect of my tour of the Warri refinery was the high level of safety standards in place. The NNPC Ltd. has prioritised safety across the facility. Visitors were given thorough safety briefings and required to don safety outfits, boots, and helmets before being allowed to proceed.
Efifia Chu, the Managing Director of WRPC, conducted the tour, starting at the modern control room where all refinery operations are monitored. A second safety briefing was conducted before moving to the Area 1 section of the refinery, where strict rules were enforced, including a ban on mobile phones, to ensure safety during the collection of refined products at the CDU, Gas Plant, and VDU.

The security details of the VIPs on the tour were also enjoined to adhere strictly to safety rules to ensure the safety of all and sundry and the facility. The NNPC Ltd., WRPC management, and the safety officials on the ground deserve commendation for the safety measures entrenched and enforced at the refinery.

There have been calls for the revamping of the second Port Harcourt and Warri refineries, Kyari should heed the calls and deliver as promised.

 

Emmanuel Akanni, an energy analyst, writes from Lagos.


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Armed Forces Remembrance Day: Military Honour OGD

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The chairman, Senate Committee on Navy, Otunba Gbenga Daniel, has received a Special Service Award from the Nigerian military.
Daniel, who represents Ogun East Senatorial District at the Senate, was presented the award by Chief of Defence Staff, Gen. C. G. Musa at a special event to commemorate the 2025 Armed Forces Remembrance Day in Abuja.
Gen. Musa noted that it was common but worrying practice for people to be honoured after their demise but the Nigerian Armed Forces thought it wise to honour the former Ogun State governor for his past and present support to the Nigerian military.
Daniel, who was the Special Guest of Honour at the event, extolled the commitment of the Armed Forces to national development. In a speech he read on behalf of the President of the Senate, Godswil Akpabio, Sen. Daniel described the sacrifices of the Armed Forces as “that which can never be fully compensated for”.
Highpoints of the occasion were an art exhibition and display high-calibre locally manufactured military vehicles.
In attendance at the event were the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, Representatives of the incumbent service chiefs, past service chiefs such as Admiral Dele Ezeoba rtd, Air Marshall Sadique Abubakar rtd, Gen. Lucky Irabor rtd, Air Marshall Isiaka Amao, serving senior military officers and many other dignitaries.


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Stop the Rumour, the Port Harcourt Refinery is working! …Peter Obi Commends the NNPCL for reviving the refinery

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Stakeholders and community leaders around the Port Harcourt Refinery have doused the groundswell of rumours and speculations that the recently revived and restreamed refinery was not working.
Last Tuesday, the Nigeria National Petroleum Company Limited, NNPCL, announced the “safe and successful restart of the 60,000 barrels-per-day Old Port Harcourt Refinery,” which it stated marks a significant step forward after years of operational challenges and underperformance and also “signifies a new era of energy independence and economic growth for our nation.”
However, naysayers went to town disclaiming the news, saying the corporation was lying about its revival of the refinery. Interestingly, Dibia Isaiah, Chief Security Officer, Alesa Kingdom, Rivers State, and NNPC Pipelines & Storage Company Loader, said in a viral video, “I am one of the loaders from the host community and NPSC. As you can see, the refinery is operational and running smoothly. This morning, I have already loaded four trucks. We are delighted that business has finally commenced after many years. The refinery has given us products, so now we are loading, and tomorrow we are loading. This time is a very busy period for us.”
Also, former Labour Party presidential candidate, Dr Peter Obi, has commended the Malam Mele Kyari-led NNPCL for “fulfilling the long-standing promise of revamping the old Port Harcourt refinery.” He added, “The refinery boasts an installed production capacity of 60,000 barrels of crude oil per day. Approximately 200 trucks are expected to load products daily from the refinery. Nigerians now await the corresponding impact and benefits on pump prices and the overall economy.”
Obi further said that the news of the Port Harcourt Refinery’s revival is promising, “as it is expected to boost productivity, improve transportation, and alleviate economic burdens across the country.” He signed off the statement with his signature ‘A new Nigeria is POssible.”

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