(DDM) – The Federal Airports Authority of Nigeria (FAAN) has insisted that the controversial cashless payment policy at Nigerian airports will remain in force despite confusion and complaints that followed its recent rollout.

DDM gathered that the directive triggered widespread frustration among passengers and airport users, particularly at airport entry gates where travellers struggled with electronic payment systems.

FAAN Managing Director, Olubunmi Kuku, addressed journalists on Thursday, defending the policy while acknowledging that improvements are necessary.

She explained that the policy forms part of a broader government strategy to modernise Nigeria’s aviation sector and strengthen transparency in revenue collection.

Kuku stated that the directive was issued following guidance from the Minister of Aviation and Aerospace Development after discussions at the Federal Executive Council.

According to her, the government has not suspended the policy despite reports suggesting otherwise.

Instead, she clarified that authorities have been instructed to improve the operational process before fully implementing the system across airports.

The FAAN chief emphasized that President Bola Ahmed Tinubu had asked the aviation ministry to refine the payment structure to make it more efficient for travellers.

She said the goal is to ensure that the transition to cashless transactions does not disrupt airport operations or inconvenience passengers.

The announcement followed days of confusion at major airports where travellers reportedly faced delays and congestion while trying to make electronic payments.

Some passengers complained that poor internet connectivity and limited payment channels made the process difficult.

Others argued that the sudden enforcement of the system created unnecessary chaos at airport entrances.

Despite the backlash, FAAN maintained that the policy represents a critical reform aimed at improving accountability within airport operations.

Kuku noted that the cashless initiative was not an abrupt decision by government authorities.

She revealed that preparations for the transition began several months ago.

According to her, the agency launched public awareness campaigns last year to educate travellers and airport workers about the move from physical cash to electronic payments.

The campaign included information sessions, notices within airport terminals, and engagement with aviation stakeholders.

FAAN believes that adopting digital payments will help eliminate leakages associated with manual cash collection systems.

The authority also argues that electronic payments will improve transparency in revenue management across Nigerian airports.

Airport officials say the new system is expected to simplify transactions and reduce the risk of corruption within aviation operations.

However, critics argue that Nigeria’s infrastructure challenges make the policy difficult to implement smoothly.

Many travellers pointed to unreliable internet services and limited access to digital payment tools as major obstacles.

Aviation analysts say these concerns highlight broader issues surrounding Nigeria’s digital infrastructure.

They warn that introducing cashless systems without reliable technological support can disrupt critical services such as airport operations.

The debate also reflects a wider national push toward cashless transactions in Nigeria’s economy.

Over the past decade, the Federal Government and the Central Bank of Nigeria have promoted digital payments as part of financial sector reforms.

The policy gained prominence during the Central Bank’s cashless initiative aimed at reducing dependence on physical currency.

Supporters of the reform argue that digital transactions enhance financial transparency and reduce crime linked to cash handling.

They also believe that cashless payments improve efficiency and align Nigeria with global financial trends.

Opponents, however, caution that millions of Nigerians still rely heavily on cash for everyday transactions.

They argue that forcing digital payment systems too quickly can exclude vulnerable citizens and create operational challenges.

The situation at Nigerian airports highlights the delicate balance between technological reform and practical implementation.

For now, FAAN insists that the cashless policy remains a key government directive.

Authorities say improvements will be introduced to ensure smoother operations and better user experience.

Passengers and aviation stakeholders will therefore continue to adapt to the evolving payment system as Nigeria’s aviation industry pushes toward a more digital future.

(DDM) – Abia State Governor, Dr. Alex Otti, has launched a new initiative aimed at bringing business leaders directly into government decision-making as his administration seeks to reshape the state’s economic policies.

DDM notes that the governor convened a high-level business roundtable in Umuahia designed to encourage collaboration between the Abia State Government and the organised private sector.

The event, themed “Government Meets Business: Where Vision Meets Enterprise,” brought together industry leaders, development partners, financial institutions, and entrepreneurs from different sectors of the economy.

The gathering took place at the Umuahia International Conference Center on Thursday and was presided over by Otti, who also chairs the governing council of the state’s Public-Private Partnership and Investment Promotion Office.

According to the governor, the roundtable was created to ensure that government policies reflect the expectations and operational realities of businesses operating in the state.

He said the initiative is meant to provide a direct communication channel between policymakers and investors while helping government craft policies that support economic growth.

Otti stressed that his administration intends to carefully review recommendations emerging from breakout sessions and panel discussions at the forum.

He added that insights from the discussions would be incorporated into Abia’s economic policy framework.

The governor declared that Abia is “open for business,” emphasizing that the state government is working deliberately to rebuild its economic foundations.

He explained that the ultimate goal is to develop public policies that align with the genuine needs of private sector stakeholders.

Otti also addressed the longstanding global debate over the role of government in economic management.

He noted that while some governments take a heavy regulatory approach, others prefer a free-market system with minimal state involvement.

His administration, he said, has chosen what he described as a pragmatic middle path.

Under this approach, the government focuses on creating incentives, strengthening infrastructure, and guaranteeing economic stability rather than directly running businesses.

Otti argued that government’s responsibility should be to establish a system that protects investors’ interests while ensuring long-term policy consistency.

He said investors are more likely to commit capital when they are confident that government policies will remain predictable and stable.

The governor revealed that when his administration assumed office, it identified several key obstacles discouraging private investment in the state.

These challenges included poor road infrastructure, insecurity, unreliable electricity supply, and multiple taxation imposed on businesses.

Addressing those issues, he said, has become a central priority of his administration.

Otti disclosed that the state government allocated more than 80 percent of its annual budgets for 2024, 2025, and 2026 to capital projects.

A large portion of those funds, he explained, has been directed toward road construction and rehabilitation across the state.

Improving transportation infrastructure, he said, is critical for boosting commerce and reducing the cost of doing business.

In addition to infrastructure investments, the government introduced a six-month tax holiday for small businesses.

The policy was designed to reduce financial pressure on emerging enterprises and stimulate productivity.

Otti also highlighted the prompt payment of salaries and contractors as another strategy to boost economic activity within the state.

According to him, consistent payments help circulate money in the local economy and restore confidence among workers and suppliers.

During a recent state executive council retreat, several sectors were identified as priority areas for future economic expansion.

These include real estate, solid mineral development, hospitality, and information technology.

The government also signaled strong interest in expanding manufacturing and agriculture.

Otti emphasized the importance of adding value along the agricultural chain, including cultivation, storage, processing, and export.

Former Nigerian Ambassador to Singapore, Nonye Rajis-Okpara, who spoke at the event, praised the governor’s leadership and credibility.

She recalled Otti’s role in strengthening investor confidence during his banking career at Diamond Bank.

Rajis-Okpara also explained how previous engagements with Singaporean stakeholders helped reposition Nigeria as a viable investment destination.

She pledged to leverage international networks to attract more investors to Abia State.

Her focus, she said, will be on mechanised agriculture and agro-processing projects capable of generating jobs and sustainable growth.

Another contributor at the roundtable, Ifeanyi Ugwuoke, National Team Lead of the Partnership for Agile Governance and Climate Engagement (PACE), highlighted the growing importance of climate finance.

Ugwuoke disclosed that his organisation has developed a guide to help governments and eco-friendly businesses access global climate funding opportunities.

He revealed that Abia State has already completed a climate finance readiness assessment.

Five businesses in the state, he added, have been matched with potential investors interested in green growth initiatives.

These include emerging sectors such as electric mobility and environmentally sustainable enterprises.

Representing the Aba business community, Chief David Ogba-Onuoha commended the governor for encouraging stronger cooperation between government and entrepreneurs.

He said infrastructure development and policy reforms have already signaled that Abia is serious about attracting investment.

Ogba-Onuoha urged the government to deepen its focus on industrial clusters, technology-driven businesses, and modern infrastructure.

Such steps, he argued, could unlock Aba’s potential as a major manufacturing and innovation hub in West Africa.

The Director-General of the Public-Private Partnership and Investment Promotion Office, Chinedum Chijioke, described the roundtable as a practical engagement.

He said the initiative aims to refine policies, remove bureaucratic barriers, and build long-term partnerships between government and the private sector.

Chijioke assured investors that his office would streamline approvals, mitigate risks, and provide stronger after-care support for business projects.

The Abia Business Roundtable 2026 concluded with breakout sessions focusing on key sectors of the state’s economic transformation.

Participants also engaged in a question-and-answer session with Governor Otti, where business leaders directly raised concerns and offered recommendations.

The forum represents one of the most ambitious attempts by the Abia State Government to integrate private sector voices into economic policymaking as the administration seeks to reposition the state as a competitive investment destination in Nigeria.

(DDM) – A major legal dispute has erupted between Enyimba Economic City Development Company FZE and the Abia State Government over the controversial N50 billion Enyimba Economic City project, with the project developers rejecting claims by the state government that it won a recent arbitration case.

The company, in a detailed rebuttal, insisted that both the majority and dissenting rulings of the arbitration tribunal clearly declared that the Abia State Government cannot legally withdraw the Certificate of Occupancy granted for the project land.

The statement, signed by C. Darl Uzu on behalf of the development company, accused the state government of spreading misleading narratives on social media regarding the outcome of the arbitration proceedings.

The developers explained that their response became necessary after receiving nearly 200 inquiries from investors, partners, development institutions, and concerned individuals across Nigeria and abroad seeking clarification on the issue.

According to the company, while the tribunal’s majority ruling ordered the refund of N400 million previously paid by the Abia State Government as part of its investment, the fundamental legal issue about the ownership and withdrawal of the Certificate of Occupancy was decided in favour of the developers.

The firm maintained that both the majority and dissenting opinions of the tribunal agreed that Abia State does not possess the authority to revoke the land title associated with the project.

The Enyimba Economic City project is one of Nigeria’s most ambitious industrial and economic zone initiatives designed to transform the southeastern region into a major international business hub.

The project was conceived as a public-private partnership involving Crown Realties Plc, the Abia State Government, and the Federal Government of Nigeria.

It was developed under the Made in Nigeria for Export initiative and the Economic Recovery and Growth Plan introduced during the administration of former Nigerian President Muhammadu Buhari.

The economic city covers approximately 9,803 hectares of land and is designed as a Special Economic Zone intended to host industries in manufacturing, logistics, healthcare, entertainment, education, aviation, and technology.

Global consultancy firm CBRE Group handled the economic positioning of the project, while the master plan was developed by Singapore-based Surbana Jurong.

The project has attracted international institutional support, including interest from the African Development Bank, International Finance Corporation, and African Export-Import Bank.

Developers say the initiative has the potential to generate as many as 625,000 direct jobs once fully operational.

In 2019, the project received global recognition when it won first prize for new city business plans at the Charter Cities Institute competition held in Washington, D.C.

The award placed the Nigerian project ahead of rival proposals from Australia and Russia.

According to the company, the Nigerian Export Processing Zones Authority granted the project official Special Economic Zone status in September 2018.

Further approvals were issued in 2020, including development and municipal management licences from the agency.

The developers revealed that they have invested more than N11 billion in project preparation, financing, and development activities as of December 2022.

They added that when unaudited expenditures from the past three years are included, the total investment in the project exceeds N15 billion.

Considering exchange rate changes since the project began in 2017, the real value of investment is estimated to exceed N50 billion in current terms.

The dispute reportedly intensified after Alex Otti assumed office as governor of Abia State in May 2023.

According to the developers, tensions escalated after they received information that the state government intended to develop its own industrial project on part of the Enyimba Economic City land.

The company alleged that the governor demanded the surrender of 1,000 hectares of land from the project area.

It further claimed that the governor threatened to revoke the Certificate of Occupancy if the demand was not met.

Developers said they informed the governor that the project area could not be altered because it was a federally approved Special Economic Zone regulated by the Nigerian Export Processing Zones Authority.

They warned that altering the land size would require surrendering existing development licences and conducting new feasibility studies.

According to the company, such studies previously cost about $1.2 million to complete.

Efforts were reportedly made to resolve the dispute amicably.

Prominent Nigerian figures were said to have intervened, including Olusegun Obasanjo, Arthur Eze, Emeka Anyaoku, and Ike Nwachukwu.

However, the company said all mediation efforts failed, forcing it to activate the arbitration clause in its 2017 public-private partnership agreement with the Abia State Government.

The arbitration process reportedly began in March 2024 and concluded in August 2025.

The tribunal delivered its final ruling on February 13, 2026.

Developers say the tribunal confirmed that the state government’s attempt to withdraw the Certificate of Occupancy and seize approximately 929 hectares of the project land was unlawful.

Despite the dispute, the company insists it remains committed to the development of the economic city project.

It also expressed hope that relations with the Abia State Government could eventually improve.

The firm concluded that its goal remains the economic development of Abia State, the wider southeastern region, and Nigeria as a whole.

(DDM) – Nigerians may soon face a sharp rise in smartphone prices as global shortages of critical memory chips begin to reshape the technology market.

DDM gathered that analysts warn retail phone prices in Nigeria could increase by between 15 and 20 percent if global supply constraints continue into the next quarter.

The development follows a surge in the cost of semiconductor memory components used in smartphones and other electronic devices worldwide.

Industry experts say the most dramatic increases are occurring in two key memory technologies, Dynamic Random Access Memory (DRAM) and NAND flash storage.

These chips are essential components used in smartphones, computers, vehicles and several other modern electronic systems.

Data compiled by Bloomberg indicates that spot prices for DRAM have surged by more than 600 percent in recent months.

NAND flash memory prices have also risen sharply as global demand for artificial intelligence infrastructure continues to expand.

Analysts believe the situation represents a structural shift in the semiconductor industry rather than a temporary supply disruption.

Technology companies investing heavily in artificial intelligence systems are now consuming large volumes of specialized memory chips.

Major technology firms such as Amazon are expanding data centres that rely on high-bandwidth memory to power artificial intelligence processors.

This shift has forced semiconductor manufacturers to redirect production capacity toward these high-performance memory products.

The reallocation has significantly reduced the availability of conventional memory chips used in consumer electronics like smartphones.

Market observers now describe the situation as a “memory supercycle,” suggesting a break from the semiconductor industry’s traditional boom-and-bust cycles.

Historically, memory price cycles lasted between three and four years before stabilizing.

However, analysts say the current cycle has already exceeded previous ones both in duration and scale.

Financial markets are already reflecting the widening gap between memory chip producers and consumer electronics manufacturers.

A Bloomberg index tracking global consumer electronics companies has fallen by roughly 10 percent since late September.

Meanwhile, companies producing memory chips have experienced dramatic stock market gains.

Shares of SK Hynix, one of the world’s major suppliers of high-bandwidth memory, have risen by more than 150 percent.

The company is a major supplier of memory chips used in artificial intelligence processors developed by Nvidia.

On the other hand, companies that rely on affordable memory supplies are facing mounting production challenges.

Gaming giant Nintendo has already warned investors about shrinking profit margins linked to the shortage of key components.

Chip designer Qualcomm has also signalled that limited memory supplies could restrict smartphone production volumes.

Similarly, computer manufacturers such as Lenovo and Dell Technologies have experienced declining share prices amid concerns about rising hardware costs.

Experts say memory components are central to the performance of modern smartphones.

Higher DRAM and NAND capacity enable advanced features such as artificial intelligence assistants, high-resolution cameras and faster multitasking capabilities.

When memory prices increase, smartphone manufacturers face higher production costs, which often translate into higher retail prices.

For Nigeria, the impact could be particularly significant because the country depends heavily on imported electronics.

Nigeria currently lacks large-scale semiconductor manufacturing capacity, leaving the market exposed to global supply disruptions.

Retailers and distributors across the country are already monitoring global trends closely.

Traders in Lagos’ popular electronics hub, Computer Village, say many dealers are cautiously adjusting their procurement strategies.

Some retailers are attempting to secure additional inventory before prices increase further.

Others are limiting purchases in order to reduce exposure to price volatility in the global market.

A smartphone dealer at Alaba International Market in Lagos expressed concern about the potential consequences for the local electronics trade.

The dealer warned that further price increases could discourage consumers who are already struggling with rising living costs.

Industry analysts believe mid-range smartphones will face the greatest pressure if memory shortages persist.

Manufacturers may respond by releasing devices with lower storage capacity or delaying major feature upgrades.

Some companies may also introduce incremental price increases across multiple product lines.

Another possible outcome is the growing use of older processors or lower-quality display technologies to reduce manufacturing costs.

Experts say smaller smartphone brands may also struggle to survive in the tightening supply environment.

Large manufacturers such as Apple and Samsung typically receive priority access to semiconductor supplies due to their scale and long-term contracts.

Smaller brands that cannot compete for limited chip allocations could eventually exit certain markets.

If shortages continue, analysts expect Nigeria’s second-hand smartphone market to grow significantly.

Consumers may increasingly seek older models from 2024 and 2025 that still offer strong performance at lower prices.

Technology experts say the crisis highlights the need for Nigeria to strengthen its digital resilience.

Although building semiconductor fabrication plants locally is unlikely in the short term, analysts suggest expanding local device assembly.

They also recommend developing stronger repair ecosystems and promoting component recycling programmes.

Such initiatives could help reduce Nigeria’s vulnerability to global electronics supply disruptions.

For now, industry forecasts suggest Nigerian consumers could begin seeing gradual price adjustments within weeks.

If the semiconductor supply crunch persists, experts say the era of cheap smartphones may soon become a thing of the past.