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PEBEC Urges Stakeholders to Drive Reforms on Ease of Doing Business
The Presidential Enabling Business Environment Council (PEBEC) recently hosted multiple stakeholders’ engagement events in Lagos and Kano State, In line with the objective to actively engage members of the organized private and public sector and to drive awareness about the implementation of relevant business climate reforms.
The series of events took place last week, kicking off in Kano with a focus on the agribusiness value chain and the impact of regulatory agencies.
Progress on the reforms delivered in collaboration with MDAs and the Kano State government were shared for feedback and discussions, to enable PEBEC identify opportunities to inform the agenda for the next cycle of reforms commencing in July 2019.
The event had a technical session on Apapa gridlock and call-up system reforms was also organised in Lagos.
The session served as a platform for discussions to deliver a gridlock-free Apapa, and enhance the ease of entry and exit into the ports in line with the Trading Across Borders focus area of the Council.
Following the last intervention by His Excellency the Vice President, Prof. Yemi Osinbajo (SAN) in November 2017, processes were agreed to address the issue but implementation remains a challenge.
Recording an impressive turnout with strong private and public sector representation, this session signalled a recommitment to ensuring the delivery of a workable resolution, as stakeholders across board engaged and agreed all agencies in the joint task force must be called to order and made to work together.
On legislative interventions of the Council, the Lagos forum was also well attended by members of the legal community and other stakeholders, as it shone a spotlight on the legal reforms delivered in several focus areas such as Getting Credit and Starting a Business.
In particular focus were the proposed Omnibus Bill, and the Companies Allied Matters (CAM) Bill – a repeal and re-enactment of the current Companies and Allied Matters Act (CAMA).
The CAM Bill has undergone its first review in 29 years with the support of several members of the public and private sector, including legal firms.
It is anticipated to be one of the most significant legal reform initiatives by any Nigerian government in the last three decades, having passed its third reading in February 2019 and been transmitted by the National Assembly to the President for assent.
Speaking at the Lagos event, Dr. Okechukwu Enelamah, Honourable Minister for Industry, Trade & Investment and PEBEC Vice-Chair, applauded the private sector for its co-operation and support towards driving the Ease of Doing Business reforms in the country.
The Minister stated, “The vision of this administration is to ensure a more conducive environment where small and big businesses are able to function effectively and with ease.
“These forums provide an opportunity for us to interact and communicate the progress of reforms while receiving feedback from stakeholders.
“This year, we had a great start with the launch of the Kano Small Claim Court in January, following their launch in Lagos State in 2018 and the positive performance recorded since its inception.
“The anticipated passage of the CAM Bill will be another significant hurdle in our efforts to improve the effectiveness of company law, help businesses grow, and drive our Doing Business ranking as a nation.” he said.
Earlier, Dr. Jumoke Oduwole, Senior Special Assistant to the President on Industry, Trade & Investment & PEBEC Secretary, stated that it is the objective of the Council to continually engage key stakeholders on growth opportunities in different sectors of the economy, and to facilitate feedback on areas for improvement as it relates to the ease of doing business mandate.
“In our usual approach of collaboration and inclusiveness, we partnered with several members of the private sector to ensure strong participation, engagement and impact from this series of stakeholder sessions.
“These included the Nigeria Agribusiness Group (NABG), the Nigerian Bar Associations-Section on Business Law (NBA-SBL), and PDFII, as well as the state governments, MDAs and other key stakeholders. We could not do this without them.” she said.
PEBEC was established in 2016 to oversee Nigeria’s business climate reform agenda. The Council’s model aligns with global best practice, and is filtered by a number of domestic and international rankings including the World Bank Doing Business Index (DBI), which is reported annually.
MTN Foundation hosted its annual Anti-Substance Abuse Programme (ASAP) Conference on July 9, 2025, at the MTN Rooftop in Ikoyi, Lagos, bringing together stakeholders from government, healthcare, education, security, civil society, and the private sector to address the growing challenge of drug abuse among Nigerian youth.
L-R: Tobe Okigbo, Chef Corporate Services Officer, MTN Nigeria; Archieabia Ibinabo, Assistant Commander General of Narcotics, representative of Brig. Gen Mohammed Buba Marwa, Chairman/CEO, National Drug Law Enforcement Agency (NDLEA); Barrister Abimbola Salu-Hundeyin, Secretary to the Lagos State Government, (representative of His Excellency, Governor of Lagos State, Mr. Babajide Sanwo-Olu); RT. Honourable Princess Lasbat Mojisola Meranda, Deputy Speaker, Lagos State Assembly; Dr. Mosun Olusoga, Chairman, MTN Foundation; Odunayo Sanya, Executive Director, MTN Foundation, and Dr. Tolu Ajomale, Head of Special Projects and Mental Health, Lagos State Ministry of Health (representative of Prof. Akin Abayomi, Commissioner for Health, Lagos State) during the MTN Anti-Substance Abuse Programme (ASAP) Lagos Conference held in commemoration of World Drug Day at the MTN Rooftop, Ikoyi, Lagos on Wednesday, July 9, 2025.
Prominent attendees included Dr. Mosun Olusoga, Chairman of MTN Foundation; Barrister Bimbola Salu-Hundeyin, Secretary to the Lagos State Government; and Dr. Tolu Ajomale of the Lagos Ministry of Health, among others. Also present were representatives of NDLEA, UNODC, academia, psychologists, recovery advocates, and youth leaders.
Speaking on behalf of Governor Babajide Sanwo-Olu, Salu-Hundeyin reaffirmed Lagos State’s commitment to safeguarding its youth and fostering a future free from substance abuse. Dr. Olusoga emphasized that drug addiction extends beyond health, touching families, communities, and national well-being, calling for proactive, united action.
MTN Nigeria’s Chief Corporate Services Officer, Tobe Okigbo, stressed the company’s long-standing dedication to youth development through initiatives like ASAP. NDLEA’s Assistant Commander General of Narcotics, Archieabia Ibinabo, representing Brigadier General Buba Marwa, commended MTN Foundation as a vital ally in drug prevention efforts.
The conference featured personal stories of recovery in a session titled “Journeys Through the Fire,” followed by a panel discussion on multi-sectoral solutions to substance abuse. It concluded with a dramatic performance, “Just One Breath,” by LASU’s WADA Club, illustrating the personal and societal toll of drug use.
Executive Director of the MTN Foundation, Odunayo Sanya, closed the event with a powerful call to action, urging media, communities, and policymakers to drive sustained investment in youth empowerment and early intervention.
The Foundation reaffirmed its commitment to building resilience among young Nigerians and catalyzing cross-sector partnerships for a drug-free future.
MUSON Centre, Onikan, Lagos, was filled with music, pride and emotion on Thursday, July 4, as the Class of 2025 of the MTN Foundation–MUSON Diploma in Music graduated in a ceremony that celebrated discipline, artistry and the power of partnership in nurturing young Nigerian talents.
The event marked the culmination of two years of intensive training for the graduating scholars, supported by the MTN Foundation–MUSON Scholarship Programme. This partnership has provided full scholarships to hundreds of talented Nigerians, giving them access to world-class music education and helping them hone their skills as professional musicians.
Speaking at the ceremony, Dr. Mosun Olusoga, Chairman of the MTN Foundation, praised the graduates for their resilience and dedication. “Despite personal and financial obstacles, you showed up with determination, supported one another and embodied the values of excellence and empathy. You are stepping into the world as teachers, performers and cultural advocates. Nigeria and the world need your music now more than ever,” she said.
Chairman of MUSON’s Board of Trustees, Louis Mbanefo, SAN, reflected on the legacy of MUSON and the impact of its partnership with MTN. “Through the generosity of MTN and the dedication of our faculty, MUSON has produced more than 500 graduates who are making significant contributions to Nigeria’s cultural scene and beyond. As you join this vibrant alumni community, remember your responsibility to give back, uphold excellence and enrich the nation’s musical heritage,” he said.
Director of the MUSON School of Music, Princess Banke Ademola, described the graduates as ambassadors of discipline and artistry. “Today, we are not just sending graduates into the world; we are releasing ambassadors of discipline, creativity, and cultural excellence. Each of you has proven that with hard work and resilience, music can transcend challenges and inspire change. Go out there and let your music heal, connect, and transform lives.”
In her speech, Chief Mrs. Joke Chukwuma, Yeye Oba Iye of Ekiti Kingdom, encouraged them to use their music to inspire change and heal communities. “Music is the heartbeat of our culture, and today’s graduates are its future custodians. You are not just musicians; you are storytellers and architects of emotion. Carry your craft with pride and remember that your sound has the power to give voice to the voiceless and light to the world.”
As the graduates received their diplomas to loud applause, the event highlighted the impact of public-private collaboration in advancing Nigeria’s creative industries. The MTN Foundation–MUSON partnership continues to inspire hope for the future of music in Nigeria, turning dreams into reality and passion into excellence.
Nvidia has become the first publicly traded company to hit a $4 trillion market valuation, surpassing tech giants Apple and Microsoft. Shares rose 2.5% in early trading on Wednesday, July 9, lifting the chipmaker’s market cap past the historic milestone.
Nvidia’s rapid rise reflects its dominant role in powering the global artificial intelligence boom. The company’s chips run the data centers behind AI models and cloud services for Microsoft, Amazon, Google, and more. Global spending on AI infrastructure is expected to top $200 billion by 2028, driving further demand.
Nvidia’s revenue for the quarter ending in April soared 69% year-over-year to $44.1 billion. Its stock has climbed nearly 20% this year, despite facing export restrictions and fresh competition from China’s DeepSeek, which briefly rattled markets. Nvidia shares dropped as much as 37% from January to April, before roaring back to gain almost 74% since early April.
Analysts say Nvidia’s success cements it as the backbone of the AI revolution. “There is one company in the world that is the foundation for the AI revolution, and that is Nvidia,” wrote Wedbush Securities’ Dan Ives. He predicts Microsoft, currently valued around $3.77 trillion, will also cross the $4 trillion threshold later this summer.
Nvidia rose to prominence through graphics cards loved by gamers, but now leads in AI hardware, from autonomous vehicles to next-gen chips like the Blackwell Ultra, which promises to support more advanced reasoning in AI models.
The company’s surge has also made CEO Jensen Huang one of the world’s richest people, with a net worth of roughly $140 billion. Huang has met with President Trump and joined other tech leaders on trips abroad, as Nvidia partners in major initiatives like Project Stargate, a $500 billion push to expand US AI infrastructure.
Despite challenges from new players and US-China trade tensions that cost it an estimated $2.5 billion last quarter, Nvidia’s outlook remains bright. On a May earnings call, Huang said AI would become essential for “every country” and “every industry,” from software and healthcare to manufacturing and transportation.
Some on Wall Street believe Nvidia’s rise is only beginning. Loop Capital analysts recently projected the company could reach a staggering $6 trillion valuation by 2028, calling it “essentially a monopoly for critical tech” in the AI space.
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