News
PwC at Workshop Identifies Journalists’ Key Roles in Sectorial Reportage
The PricewaterhouseCoopers (PwC) network, in recognition of the place of the media, generally and, journalism in particular, in entrenching good governance, sustenance of democracy, and ensuring a conducive climate for investment and economic development, organized a Capability Enhancement Workshop for Journalists in Lagos, last weekend.
Uyi Akpata, country senior partner, Nigeria and Regional Senior partner for PwC West Market Area, said the initiative was in recognition of this indispensable role of the media especially in the areas of finance and business reporting.
The workshop, in its second year, was developed to help financial journalists improve the contribution they make in terms of their reporting and to ensure an in-depth analysis of the subject, he said.
The workshop had a rich outline of topics including Understanding & Reporting the Budget; Economy and Monetary Policy; the Oil & Gas Value Chain and Impact on Crude oil & gas pricing; Governance & Corporate Reporting; ICT as a major advancement tool in Nigerian Media Practice. Business reporting is particularly challenging for journalists because it is an extremely diverse area involving a complex and technical range of issues covering policy, tax, economics, finance, governance as well as financial reporting.
According to Akpata, “We recognise that it takes extreme care and skill to get a business story right, and convey it to the public in a manner that is factually accurate, yet comprehensible and easy to understand. We are therefore partnering with the media to demonstrate our commitment to high-quality journalism in Nigeria”.
Key Take Away from the Workshop
Understanding and Reporting the Budget
According to Taiwo Oyedele, partner, head of Tax & Regulatory Services, PwC, aligned with the school of thought that budget is the second most important document of a country next only to the Constitution.
He defined a budget as “simply a plan of revenue and expenditure over a specified period of time. It provides the framework on which the government’s key policy agenda is built and implemented. Given the federal system of government in Nigeria, detail allocation of revenue and resources across the different tiers of government as well as government departments, ministries and agencies is part of the budgeting process”.
He therefore, said that the budget is an important tool for identifying sources of revenue, allocate the scarce resources in an efficient manner, and ensure effective implementation of the strategic goals that should improve the welfare of the people. “In terms of transparency and accountability, the budget provides a framework to measure the performances of political office holders and for stakeholders and the public in general to demand accountability for the resources of the country. Legal bases and reality check Based on the law, the Constitution requires that there must be a budget.
“Section 81(1) provides that the President shall cause to be prepared and laid before each House of the National Assembly at any time in each financial year estimates of the revenues and expenditure of the Federation for the next following financial year.
“In section 81(2), the heads of expenditure contained in the estimates (other than expenditure charged upon the Consolidated Revenue Fund of the Federation by this Constitution) shall be included in a bill, to be known as an Appropriation Bill (that is, Budget), providing for the issue from the Consolidated Revenue Fund of the sums necessary to meet that expenditure and the appropriation of those sums for the purposes specified therein. The Fiscal Responsibility Act also requires a cash plan and schedule of disbursement within 30 days of enactment of Appropriation Act.
“In addition, quarterly reports are to be prepared within 30 days of the end of each quarter.
“Unfortunately in reality, the budget is usually presented late by the Executive with further delays in debate between the executive and legislature on less important issues bordering on benchmark oil price rather than revenue generation. Also, very little information is provided regarding actual implementation.
“Salient Questions and Food for thought. Certain questions must be addressed for change to happen rather than sustaining the status quo.
“These include: 1. why do we start our budget from a zero base every year? What happens to the unspent amounts from previous years due to budget under-performance?
“3 2. Why do we not subject actual implementation to value for money audit? The question is whether what “it is” is as good as “what could have been”. 3. Should Nigeria continue to depend on crude oil to drive our budget? How do we diversify our source of revenue? 4. How do we ensure that the budget is prepared and approved timely and actually serves its purpose and not just a “tick-the-box” exercise.
Concluding Thoughts
When analysing the budget, journalists must be able to read between the lines. It is often what has not been said that is more important that what was actually said; Learn to connect the dots from one period to another and also with respect to different components even within the same budget. For instance, it will be useful to relate Debt to GDP ratio versus debt service to total revenue; budget deficit and capital expenditure; subsidy and oil benchmark etc and The media needs to track performance and report over the entire period not just during the budgeting process; Tell a story, give statistics, and a balanced perspective.
Also, ensure accuracy of information, do research, speak to experts; Ask the right questions even if they are difficult and Be creative, give substance -don’t just collate information We hope there will be a positive change in our approach to Budgeting as a nation with significant improvement in level of implementation and ultimately transparency and accountability.
ICT: A Major Advancement Tool in Nigerian Media Practice
Mr. Joseph Iruafemi, business/lead strategist, Web-Fair Solutions and co-director, Founders Institute, urged media practitioners to embrace modern technologies to enhance their performances.
Iruafemi said that with software, virtual newsrooms are possible; where news-gathering and editing are done real-time through collaborative-editing tools, cloud-sources, between the reporter and the editor.
He added that with iReports, news platforms in the country have empowered the people to be part of the news gathering, although authentication of the news credibility has posed greater challenge.
On news dissemination, he said with over 90 million Nigerians having access to the internet, searching for credible news, the onus falls on the professional journalists to harness the opportunity to better their worth, while repositioning the nation in the comity of new world information order (NWIO).
“Is it possible for us to have a website that coverts words to audio, because most young people prefer to listen to audio to reading letters/words. We are in an era of software for micro-contents; where media houses partner the telecoms on additional news contents dissemination. This will help in expanding the horizons of the media and the readership will broaden,” he suggested.
He further urged the participants not to allow the social media to wrestle the pen from their hands, adding that authentication of reports and analytical reports would always endear the conventional media to the readers’ heart.
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Tertiary Education Trust Fund (TETFund) have agreed to a new strategic partnership aimed at driving innovation, entrepreneurship, and workforce readiness.
Led by its National President and Chairman of the Organized Private Sector of Nigeria (OPSN), Engr. Jani Ibrahim, a high-level NACCIMA delegation visited the TETFund headquarters in Abuja today.
The team was received by the Executive Secretary of TETFund, Arc. Sonny S.T. Echono, during what both parties described as a milestone engagement.
Discussions during the meeting focused on collaborative initiatives including entrepreneurship development, support for the green economy, commercialization of academic research, industry–academia synergy, and skills development to better equip graduates for the evolving demands of the labour market.
A key outcome of the meeting was the mutual agreement to sign a Memorandum of Understanding (MoU) and establish a NACCIMA–TETFund Joint Technical Committee that will oversee the implementation of agreed initiatives.
Both sides also expressed commitment to developing additional partnership frameworks that will bolster Nigeria’s competitiveness and economic resilience.
Also present at the engagement, Prof. Umar Bindir lauded the collaboration, highlighting the need for structured, long-term partnerships between academia and the private sector to generate practical solutions to Nigeria’s socio-economic challenges.
Arc. Echono, in his remarks, praised NACCIMA’s leadership in promoting enterprise and innovation, and reaffirmed TETFund’s readiness to work closely with the Organized Private Sector to foster research, innovation, and economic transformation.
This collaboration positions NACCIMA as a key driver of national development, helping to bridge the gap between education, enterprise, and policymaking, while empowering young Nigerians and strengthening the foundation of the country’s knowledge economy.
PalmPay, a digital banking platform, in partnership with Nigeria’s telecom giant, Glo, is celebrating winners in the ongoing PalmPay & Glo Recharge. The exciting campaign, which kicked off on June 19, 2025, will run until August 23, 2025, rewarding loyal customers with fantastic prizes and exclusive bonuses.
Since the promo commenced, users have won prizes ranging from Oraimo Earbuds to Infinix Hot 40i.
The ongoing weekly campaign has recorded 20 winners, which include:
- Michael Emmanuel from Lagos emerged as the winner of an Infinix Hot 40i
- Perpetual Amos, winner of an Infinix Hot 40i
- Semiu Adekunle Abegunde, winner of an Infinix Hot 40i
- Josiah Oluwasegun Adewale, winner of an Oraimo Earbuds
Michael Emmanuel from Lagos recounted his experience as the lucky winner of the Infinix Hot 401 as he couldn’t hide his excitement. He noted, “I am so excited! I didn’t even expect it. I received a call while I was sleeping, informing me that I’d won, and I went live immediately to confirm it was real. I’ve been using PalmPay for about two years now, and winning this is such a great feeling. I’ll keep using PalmPay, and I encourage everyone to recharge their Glo line on the app; you could win too.”
The campaign, which is in its last week, has winners revealed every Friday during a live raffle draw streamed across PalmPay’s social media channels. The campaign gives customers the chance to get amazing prizes, including an iPhone 15 Pro, an Infinix Hot 40, and many other exciting rewards. Users also enjoy up to 6% cashback when purchasing Glo airtime or data via the PalmPay app.
New Glo data subscribers who have not signed up for a plan in the past 90 days will also receive a 100% bonus on their recharge during the promo period.
How to participate:
- Download the PalmPay app.
- Link your Glo number in the app.
- Purchase airtime or data via PalmPay; every transaction increases your chances of winning.
- Join the live draw
Engr. Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), has said that the telecommunications sector in Nigeria is once again on a strong growth trajectory.
Engr. Gbenga Adebayo, Chairman, ALTON
Engr. Adebayo stated this over the weekend on the side-lines of the unveiling of Nigeria’s first Digital Museum, an initiative that preserves and showcases the nation’s history and cultural heritage.
He commended IHS Towers for spearheading the project, describing it as another clear demonstration of the industry’s commitment to the Nigerian project. He noted that by investing in the preservation of Nigeria’s past while building the infrastructure of the future, IHS has set a remarkable example of corporate citizenship.
Speaking on the state of the telecoms sector, Engr. Adebayo said: “After addressing sustainability concerns earlier in the year, we are now witnessing significant new investments in the sector: the highest we have seen since before the COVID-19 pandemic. Members of ALTON are optimising networks, building new sites to meet rising capacity demands, upgrading existing infrastructure, and migrating more sites from old radio links to high-speed fibre connections.”
He further noted that Tower Companies (TowerCos) are enhancing security across telecom sites to mitigate against vandalism and theft. “Removable batteries and generators are now fitted with trackers to trace stolen items, and we strongly advise the public to desist from buying equipment suspected to have been stolen from telecom sites,” he cautioned.
Engr. Adebayo also highlighted ongoing capacity development within the sector: “We are training and retraining our workforce to adapt to emerging technologies. The Nigerian Communications Commission (NCC) has set strict service level requirements, and we are committed to not only meeting but surpassing them. Though network optimisation may occasionally cause service disruptions, we appeal to the public for understanding as these efforts will ultimately deliver a much-improved user experience nationwide.”
On industry governance, the ALTON Chairman expressed delight at the inauguration of the new Board of the NCC, chaired by Mr. Idris Olorunimbe.
“We are very excited about the appointment of Mr. Idris. His reputation as a man of excellence precedes him. Working with the competent and visionary Executive Management Team led by the Executive Vice Chairman, Dr. Aminu Maida, and the other Executive Commissioners, we are confident the sector is set on the right path to sustainability and growth. The new Board will strengthen the remarkable progress already achieved.”
Engr. Adebayo further welcomed the rebranding of Emerging Markets Telecommunications Services (EMTS) from 9Mobile to T2, describing it as an important milestone for the industry.
“EMTS is a very important member of ALTON, and we are pleased to see their rebirth as T2. This rebranding enhances investor confidence and underscores the value of collaboration. It assures the public that there are good times ahead for our industry, and we are very excited about what the future holds,” he stated.
Turning to issues of Right of Way (RoW), Engr. Adebayo stressed that investments can only thrive in enabling environments:
“The digital train is moving very fast. States that create hostile conditions for telecom operations risk being left behind. We will not continue to solicit endlessly for cooperation. Where deployment is unwelcome, investments will move to more supportive neighbouring states, and citizens of unfriendly states will inevitably suffer limited connectivity. We urge all state actors to partner with us so that no one is left behind in this rapid transformation.”
On the issue of multiple taxation, Engr. Adebayo commended the Federal Government under the leadership of President Bola Ahmed Tinubu, particularly the Presidential Tax and Fiscal Policy Reform Committee, for its ongoing reforms. Engr. Adebayo described the reforms as a pivotal step toward streamlining Nigeria’s tax system and eliminating the burden of multiple taxation. He highlighted the positive impact on small and medium-sized businesses, noting that the changes will promote entrepreneurship, attract investment, and foster a more business-friendly environment.
“We eagerly await the commencement of the implementation in January 2026. We are confident that the over 56 taxes and levies currently borne by our members across various jurisdictions will soon become a thing of the past.”
Engr. Adebayo concluded by appreciating all industry stakeholders and reaffirming ALTON’s commitment to the Nigeria project:
“The transformation we are witnessing in our sector has not been experienced in recent years. We thank the leadership of the NCC for their commitment, we congratulate and welcome the new Board under the leadership of Mr. Idris Olorunimbe, and we look forward to even greater milestones ahead.
The industry is on the march again, and together, with the support of the public in protecting our critical infrastructure, there is no stopping Nigeria’s telecommunications sector as a driver of national economic stability and growth.”
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