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Nigeria @60: Building Trust to Trade Better with Post-Brexit Britain
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By Joel Popoola
As Nigeria celebrates the sixtieth anniversary of independence from Britain, there’s never been a better time for us to strengthen the ties between our two nations – this time as equal trading partners.
British MP Helen Grant has this week been appointed Prime Minister Boris Johnson’s Trade Envoy to Nigeria.
Trade Envoys are personally appointed by British Prime Ministers to engage with countries where their government has identified “substantial trade and investment opportunities”. As Mrs Grant, whose father is Nigerian, has said: “We are entering a new and exciting age for British trade around the world and the opportunities for increased trade and investment are enormous”.
The new and exciting age she refers to is Britain’s departure from the European Union. For generations Britain’s continental trading relationships have been focused on continental Europe. Having formally left the European Union, from January 2021, Britain will have the opportunity to look again towards her commonwealth colleagues for strategic partnerships with the potential to deliver mutual prosperity.
We have to make sure they like what they see when they do.
Nigeria-British relationships are already strong, with British businesses having already invested £5bn in Nigeria. The two countries share £4bn of trade a year.
These ties have already endured the toughest of times – not least the last few months! – and Brexit opens the door for even better relations and the promise of a richer, more productive and more developed Nigeria.
Sadly, the World Bank ranks us 131st out of 190 countries for doing business with. We’re only slightly ahead of our neighbours in Mali and they’ve just had a coup!
Then there’s corruption. The British government’s official advice on doing business in Nigeria states “unfortunately fraud is prevalent in Nigeria, and UK businesses should carry out due diligence before embarking on any deals”.
The most recent Global Corruption Index reported that 43% of those surveyed thought corruption in Nigeria has increased in the past 12 months. A shocking 44% of public service users reported paying a bribe that year.
Perhaps the symbolic underscoring of Nigeria’s corruption dealings commences with first point of entry at our Airports. With begging gestures and faces railroading you into parting with subtle and brazen bribe demands, and unnecessary conundrums laid on your path of entry, combined with gun-toting police stops with menacing looks, the welcoming impression on visitors leave a lot to be desired. The government’s Ease of doing business strategy has up till now served little purpose for a paradigm shift. How can investors feel comfortable to bring in funding when our points of entry into the nation lack a welcoming feel-good flair.
A lot is required to achieve FDI and national branding starts from exemplary conduct, not cosmetic happenstance rhetoric.
With a shared language and history and complementary legal and business practices post-Brexit trade with Nigeria should be as obvious to Britain as an Eagle in a Firefinch nest, and there are huge opportunities to British businesses in improving our transport and energy infrastructure, urban development, creative industries, financial services, agriculture and technology.
The news is not all bad. Just this week Britain’s top trade official in Africa told CNBC “Nigerian is a very exciting proposition for the UK, really helped by some of the progress we seeing being driven by the government of Nigeria, particularly in the ease of doing business” Next month the governor of Lagos, Babajide Sanwo-Olu will become the first Africa’s elected leader to address the Institute of Directors, the UK’s most prestigious business leader group, since inception in 1903
But until we take steps to improve our international reputation for corruption too many nations will continue to think twice when it comes to trading with Nigeria.
The way I see it, you wouldn’t go on your first date with someone without smartening yourself up. And the same is true if Nigeria wants to fully realise vast potential in a globalised world. That’s why making the Nigerian political system look its best is the concept behind my digital democracy project. Before our nations believe in our leaders, we have to believe in them ourselves.
We have created a free smartphone app called Rate Your Leader which gives our political leaders a vital platform to showcase their openness, responsiveness and transparency. The app allows direct person-to-person contact with the people they serve, maximising their openness and accessibility, as well as allowing them to respond instantaneously to local issues as they emerge.
Not only does the app made leader more visible in their communities – at a time when Covid-19 related social distancing make this even more difficult than usual – it also allows politicians to explain the decisions they have made directly to the people they serve, free from spin or social media distortion. Voters can then rate the answers they receive, showing their peers and neighbours which politicians are the most transparent and accountable.
We all know we have a mountain the size of Chappel Waddi to climb when it comes to defeating corruption in Nigeria. But small steps like using Rate Your Leader are an important first step, proving that individual politicians are worthy of people putting their trust in them.
And only when we trust ourselves will future trading partners feel comfortable doing the same.
Joel Popoola is a Nigerian tech entrepreneur, digital democracy campaigner and creator of the Rate Your Leader app. You can reach Joel on Twitter @JOPopoola
News
Falana Asks Gbajabiamila to Step Aside for Probe over Alleged PFIPC Fraud
Human rights lawyer, Mr. Femi Falana (SAN) has charged President Bola Tinubu’s Chief of Staff (CoS), Femi Gbajabiamila, to step aside and give room for investigation into the allegation of fraud involving his office and the self-acclaimed Director General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Adeyemi.
On June 11, 2026 Gbajabiamila denied knowledge of Adeyemi when he presented himself as the Director General of PFIPC which he claimed was non-existent.
Gbajabiamila said he petitioned security agencies in October 2025 after forged appointment letters surfaced and Adeyemi was later charged before the Federal High Court for forgery, impersonation and obtaining by false pretence.
In his reaction, Adeyemi dismissed all the allegations against him, saying he was ready to clear his name in court.
Adeyemi called for an independent panel from Tinubu because those behind the allegations were trying to silence him, stressing that Gbajabiamila issued him an appointment letter.
However, Falana said the Presidency has explanations to make to Nigerians on Adeyemi’s travail.
Speaking on Eagle 102.5 FM, Falana insisted that the presidency has exposed Nigeria to “unprecedented ridicule.
He said: “How did an agency that is not created by law find its way into the Appropriation Act of Nigeria? How did that body get an office in the Federal Secretariat? How did that body successfully open accounts in the Central Bank of Nigeria?
“How did the Head of Service post about 300 staff to that office? The government will have to explain to Nigerians how a sum of N24 billion was budgeted for an unknown agency, as well as how that agency had accounts with the Central Bank of Nigeria.
“If this is a conman that can con the Presidency into issuing a letter of appointment, con the Central Bank into opening accounts, con the National Assembly into inserting the agency into the budget, I think the government is kidding.”
Falana said the National Assembly must explain how an “agency unknown to law” was inserted into the budget. Citing Section 81 of the Constitution, he noted that appropriation bills originate from the Executive.
“You cannot have an agency that is not created by law in the budget of a country.
“The government has a duty to ask Mr. Gbajabiamila to step aside to allow for a full investigation in the interest of the country and even in his own interest.”
News
Sack Gbajabiamila Now, NDC Tells Tinubu Amid Fake Agency Scandal
The Nigeria Democratic Congress (NDC) has called on President Bola Tinubu to immediately remove his Chief of Staff, Femi Gbajabiamila, over allegations linking him to an alleged multi-billion-naira corruption scandal involving a purported non-existent government agency, the Presidential Foreign Intervention Promotion Council (PFIPC).
In a statement issued on Friday by its National Publicity Secretary, Osa Director, the opposition party described the allegations as grave and said Gbajabiamila’s continued stay in office could compromise any credible investigation into the matter.
The NDC’s demand follows allegations made by Prince Mathew Adeniyi Adeyemi, who claims to be the Director-General of the PFIPC, an agency the Presidency has publicly denied exists.
According to the party, the allegations raise serious concerns about transparency, accountability and integrity within the Tinubu administration.
The NDC alleged that despite the Presidency’s denial of the agency’s existence, the PFIPC purportedly secured budgetary allocations in the 2026 Appropriation Act and opened a domiciliary account, a Pound Sterling account and a Treasury Single Account (TSA) domiciled with the Central Bank of Nigeria.
The party questioned how an agency described as non-existent could allegedly establish multiple high-level government financial accounts without official approval or the required documentation.
It also called on the Office of the Accountant-General of the Federation to explain whether forged documents were used in processing the accounts.
The statement further alleged that the Head of the Civil Service of the Federation approved 314 staff positions for the purported agency, describing the development as another issue requiring urgent explanation.
According to the NDC, the allegations also include claims that Gbajabiamila demanded 48 per cent of the agency’s take-off grant, reportedly valued at N27.39 billion, a request Adeyemi allegedly rejected.
The party also cited Adeyemi’s claim that he secured his appointment through the Chief of Staff after allegedly paying N600 million, of which N400 million was allegedly paid through proxies, while N200 million remained outstanding.
It said the alleged unpaid balance reportedly contributed to the Presidency’s subsequent denial of the agency’s existence.
The NDC further alleged that the claims point to a wider pattern of institutional corruption, including the alleged sale of public appointments.
The party also linked the controversy to the death of Babatunde Tanimola, whom it described as an intermediary between Adeyemi and the Chief of Staff.
According to the statement, Tanimola reportedly died in a fire incident at a hotel in Utako, Abuja, on October 22, 2025, a day after the police reportedly received a petition from the Chief of Staff.
The NDC also referenced Adeyemi’s claims that he survived multiple assassination attempts, including an attack along the Abuja-Kaduna Expressway on September 7, 2025, and alleged that certain individuals within government are plotting to eliminate him.
Against the backdrop of the allegations, the party demanded the immediate removal of Gbajabiamila to allow what it described as a full and impartial investigation.
It also called on President Tinubu to establish an independent investigative panel to examine the alleged operations of the PFIPC, including its budgetary allocations, financial transactions, account openings and staff recruitment.
The NDC further urged investigators to probe the circumstances surrounding Tanimola’s death and the alleged assassination attempts on Adeyemi, while recommending that Adeyemi be granted witness protection.
The party also demanded that the Chief of Staff produce all official documents signed since assuming office for forensic examination.
In addition, it called for the questioning of officials of the Central Bank of Nigeria (CBN), the Office of the Accountant-General of the Federation, and the Office of the Head of the Civil Service of the Federation over their alleged roles in the matter.
The opposition party also urged the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigeria Police Force to commence what it described as a thorough investigation without fear or favour.
“The NDC will not accept the usual tactic of issuing a mere defensive press release from the Presidency as a deflective ploy. Nigerians deserve to know the truth through a transparent process that promotes fairness and justice,” the statement said.
The Presidency has previously maintained that the PFIPC is not a recognised government agency.
As of the time of filing this report, neither the Presidency nor Chief of Staff Femi Gbajabiamila had responded to the fresh allegations contained in the NDC statement.
News
Again, Dangote Refinery Slashes Petrol Price
The Dangote Petroleum Refinery & Petrochemicals has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), marking its fourth price cut within one month, as the company signaled that Nigerians could expect further price moderation in the coming weeks.
The latest reduction of N50 per litre brings the cumulative decrease in the refinery’s ex-depot price of petrol to over N200 per litre since May 30, 2026, lowering the gantry price to N1,075 per litre.
Over the same period, the refinery has also reduced the ex-depot price of Automotive Gas Oil (AGO), commonly known as diesel, by N300 per litre, while Jet A1 aviation fuel has recorded a cumulative reduction of N520 per litre.
In a statement on Thursday, the refinery said the successive price cuts underscore its commitment to ensuring Nigerians benefit from favourable market developments through fair, responsible, and sustainable pricing of petroleum products.
The company noted that while it remains focused on transferring cost efficiencies to consumers, it is equally committed to maintaining the operational and financial sustainability of domestic refining.
Dangote Refinery explained that its pricing model is not tied directly to daily movements in international crude oil prices, stressing that crude oil is procured weeks or, in some cases, months before refining under commercial contracts linked primarily to monthly average pricing mechanisms rather than prevailing spot market prices.
According to the company, the petroleum products currently being supplied were refined from crude inventories acquired when international crude prices were significantly higher than present levels.
It disclosed that the average landed cost of crude processed by the refinery stood at approximately 124.80 US dollars per barrel in May and 95.25 US dollars per barrel in June, compared with the current international Brent benchmark of about 71.01 US dollars per barrel.
The refinery further clarified that its feedstock is not purchased at the headline Brent price widely reported in the media. Instead, crude is acquired on a Dated Brent basis, with additional market premiums, freight and logistics costs, resulting in actual landed costs that differ materially from benchmark quotations.
Despite these elevated feedstock costs, Dangote Refinery said it deliberately absorbed a substantial portion of the increase instead of transferring the full burden to consumers immediately.
It said the decision is aimed at supporting market stability, easing inflationary pressures, and shielding Nigerians from the sharp volatility witnessed in global energy markets.
“For this reason, prices of petroleum products in Nigeria are still lower than prices in neighbouring countries even after adjusting for taxes,” the company stated.
Dangote Refinery noted that Thursday’s N50 reduction in the ex-depot price of PMS represents the fourth downward adjustment within one month, bringing cumulative reductions to more than N200 per litre.
The company said its pricing decisions are anchored on actual production economics and inventory replacement costs rather than short-term fluctuations in the international oil market.
It expressed optimism that fuel prices would continue to moderate as lower-cost crude cargoes progressively replace higher-cost inventories in its production cycle, provided international market conditions remain favourable.
The refinery also highlighted the stabilising role of domestic refining in Nigeria’s energy sector, saying its production capacity is now sufficient to meet national demand, thereby strengthening energy security, reducing dependence on imported petroleum products, conserving foreign exchange, and providing greater price stability for consumers and businesses.
Reaffirming its long-term commitment, Dangote Petroleum Refinery said its objective remains to supply high-quality, internationally compliant petroleum products at competitive prices while strengthening Nigeria’s energy security, supporting economic growth, and ensuring the long-term sustainability of Africa’s largest refinery.
The company expressed appreciation to Nigerians for their continued confidence and support, pledging to remain committed to building a stable, efficient, and globally competitive downstream petroleum industry that serves the interests of consumers, businesses, and the nation as a whole.






