News
President Jonathan Tasks Mordi’s NCCN on Investment
President Goodluck Jonathan said Nigeria’s business competitiveness and ability to attract local and international investment will be significantly enhanced with the appointment of ex-banker Chika Mordi as the first chief executive of the National Competitiveness Council of Nigeria (NCCN).
President Jonathan, who recently launched the NCCN, said, “This important step, by the National Competitiveness Council, underscores Nigeria’s commitment to rapidly transform the business environment and enhance productivity in Nigeria.”
President Jonathan inaugurated the council earlier this year, with Olusegun Aganga, Trade and Investment minister, as chairman; and Tony O. Elumelu, chairman of Heirs Holdings, representing the private sector as vice chairman.
Other members drawn from the Nigerian and international communities include Michael Porter, Aliko Dangote, Lynda Chalker, and Dr Juan E. Pardinas, director, Mexican Institute for Competitiveness.
Aganga, a leading member of the President’s transformation team, said, ”We are pleased to have Mr. Mordi at the helm of the Council’s affairs. His track record demonstrates that he possesses the intellect, ambition and experience to help Nigeria attain global economic prominence.”
Mordi will lead a strategically placed body, part of the Jonathan administration’s wider policy to dramatically improve the ability of local and international businesses to conduct and operate business in Nigeria, Africa’s most populous country and home to one of the largest global consumer markets. Results of which will be measured by Nigeria’s rise in World Economic Forum’s Global Competitive Index and the World Bank’s Doing Business Index rankings – indices that are internationally acknowledged benchmarks for the openness of a nation’s economy.
Countries that successfully implement reforms and overhaul regulatory obstacles experience better economic outcomes, job creation and improved standards of living, according to the World Bank.
Elumelu, who is also the Founder of The Tony Elumelu Foundation, which has provided a take-off grant for the council, said, “Competitiveness is a prerequisite for a country’s development.
The NCCN is working to create an enabling environment for the private sector to flourish. This is the only sustainable solution for Nigeria’s and Africa’s development. Mr. Mordi brings a skill set and track record that makes me feel highly confident that our objectives will be realised.”
The Council selected Mordi through an internationally advertised recruitment process, which identified a series of extremely talented individuals. He is the founder of Accender Africa, a Washington, D.C.-based non-profit that seeks to use new media to increase transparency in government, with the objective of poverty reduction.
“I am honoured to have the opportunity to contribute in a significant way to Nigeria’s development and its global business profile. The private sector is instrumental in creating sustainable growth, reducing poverty and boosting collective prosperity for Nigerians. NCCN is intrinsic to ensuring the right conditions are in place to secure Nigeria’s strong future; I am looking forward to the challenge,” Mordi said.
Mordi, a professional banker, spent over two decades in the finance industry and was instrumental in the dramatic transformation of Nigeria’s financial services industry, including repositioning of the United Bank for Africa Plc into one of Africa’s leading financial institutions. He has also helped incubate several businesses in Nigeria and Ghana, and in his investment banking career managed landmark transactions in sub-Saharan Africa in equities, fixed income, corporate finance, debt conversion, and privatisation.
Mordi is a trained economist and holds degrees from the University of Ilorin, IESE Business School, Harvard Kennedy School, American University’s Graduate School of Communications and John Hopkins School of Advanced International Studies. He also completed the Advanced Management Program at Harvard Business School.
Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.
Atte Ayodeji
Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.
Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.
His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.
Sunday Dare, special adviser on Media and Public Communication to President Tinubu, celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.
“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
Mr. Joseph Tegbe, minister of Power, has said that the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases.
Mr. Joseph Tegbe, minister of Power
The minister told journalists during the media interactive session at the weekend that the government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting liabilities in the power sector.
He explained that the planned removal forms part of the broader reforms aimed at ensuring the long-term sustainability of the electricity sector, while tackling the financial challenges confronting the industry.
According to the minister, despite the planned subsidy withdrawal, there are no immediate plans to increase electricity tariffs, reassuring consumers that the government is not considering a tariff hike in the short term.
Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.
She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.
According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.
“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.
Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.
“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.
She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.
Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.
“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.
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