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SPIDS LOGISTICS BOSS, AYO AKINRINSOLA RECOUNTS GRASS TO GRACE STORY +Why He Is Eyeing Ondo Governorship Seat

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The grass to grace story of SPIDS LOGISTICS LIMITED boss, Ayo Akinrinsola is not only inspiring, it is also must read for those who want to build their business from the scratch. Having graduated from The Obafemi Awolowo University his search for jobs without success led him to start a Logistics firm on a small scale and today the business has grown beyond his expectation. He also stated why he will be contesting for Ondo state governorship in the next election in this interview

 

 

Why did you decided to set up a business after school and not search for jobs?

Of course i do searched for jobs after i graduated from the Obafemi Awolowo University but the jobs are not coming forth. The expectation was that i get a job,but i realised it was not easy as i thought it would be, after my NYSC I came to Lagos and did some job tests but at the end I was not shortlisted for the job I applied. I have a friend who was into Logistics, I joined his team instead of staying at home on a voluntary basis. With that I learnt the rudiments of the business, I also did teaching job because I don’t like to stay idle, at that time I got a scholarship for a Post Graduate course in Netherlands, after the course I came back to Nigeria and I decided to leverage on my experience on the business to start immediately, I reached out to my contacts and thats it. Fortunately for me I got a contract from a Telecommunication company, they needed a warehouse which i got for them, that was my first job and from there we were expanding gradually.

 

What would you say is working for you in this kind of business this far?

 

The grace of God has kept us going, Apart from that you must be a very good resource manager to succeed on this job, accountability also matters, transparency and discipline. Another thing that has sustained us is the good name, I have a name to protect, you can give me your job and go to sleep. We have got referrals from big organisations, multinationals, it is because we have integrity. I don’t also joke with staffs welfarism their salary is very important because they too have to make a living.

 

Could you please define the exact nature of the task at Spids Logistics?

 

We are into warehousing management, supply chain management we do warehouse sourcing and management, we do customize warehousing, distribution of goods and services. We source for warehouse for multinationals and big organisations, we help them keep their goods and also help distribute to the end users

 

Does one need a lot of money to set up a business like this?

 

You don’t need a lot of money to set up business like this, I started by understudying somebody who was also into the business, in the process i met so many people who took interest in me. The most important thing is if you meet people who believe in what you can do, you don’t need huge capital to start the business, the business is all about trust and integrity

 

You studied Accounting in the University, how much of that would you say has helped you in this business?

 

It has in a way, I studied Accounting at Obafemi Awolowo University, I did Financial Management in Netherlands, I did other course that is related to management.Yes my educational experience has helped and is still helping me in the business especially in the area of cost management. But it is not always what you study in school that come to play outside there, it is all about what you can do, the people you relate with and your perception. Because of competition I sleep less, I am always looking for new ideas that can give us the edge over others.

 

How would you describe life as the CEO?

 

It is quite challenging, when you have a lot to think about, the business, staff welfarism, family, the growth of the business matters to you more. It is not all work and no plays, I play golf for relaxation, nobody is perfect but i try as much as possible to strike a balance between my work and family.

 

How would you describe your lifestyle?

 

I live a simple lifestyle, i don’t drink alcohol,i don’t smoke and i don’t womanize. During my leisure time i like to dance, i play indoor games like Basketball, Scrabble, Chess. I love gadgets, cars but i only buy them when i think it is necessary.

 

Give us a brief about your immediate family?

 

I got married in 2005, to the glory of God we are blessed with three children

 

Why the sudden interest in politics?

 

I have being following politics since the days of SDP and NRC in the early 90s, I remember when i clocked 18 i was excited that i would be able to vote. I am from Ile Oluji in Ondo state, i was born with a silver spoon but I wasn’t trained with a silver spoon, i am from a Polygamous family. I joined Politics because i want to impact in the lives of my people especially in Ondo state, that state is blessed with natural resources that if well managed will create job opportunities for the youths in that state. People will not run to Lagos to seek for job again, this is the time to make impact. I admire people like Asiwaju Bola Tinubu, he is the Architect of a new Lagos that is why people like me can succeed in this environment. I am a supporter of well organised Political Party, APC as a party understand the plight of the common man.

 

So why do you want to contest for the Governorship and not from a lower profile?

 

This is the time that i still have the energy, i want to manage the endowment of the state, i want to bring my experience as a resource management to bear in the governance of Ondo state. In Ondo state we have oil, bitumen and others, we need accountability in governance of the state, who says we cant have sea port in Ondo state? I have thought about it very well and i am convinced it is possible.

 

How would you describe the current political situation in Nigeria?

If you see the manifestoes of the two major political parties in Nigeria the All Progressives Congress APC is the only party that has the interest of the people in their plan. APC is a party of highly intellectuals who know how to meet the needs of the common man, they know what it entails to make the common man relevant, they know the pain that the common man is going through. You can see leadership by example since APC took over, President Buhari and his Vice Yemi Osinbajo led by example by cutting their salaries by half, the wind of change is blowing and i am ready to channel that wind into my state Ondo so that people will also enjoy the new things, there is no better time than now.

 

Was it because you want to contest for an election that you set up an empowerment scheme for the youths?

 

Before the end of the year we are going to launch the scheme fully and it is called, AYO AKINRINSOLA YOUTH EMPOWERMENT FOUNDATION. I am concentrating on the artisans, market women, petty traders, farmers, commercial drivers, unemployed youths, civil servants, pensioners, widows. This is what i have being doing before now, it has being part of my lifestyle to help people, it is not because i want to run for an elections. I just want to extend it to the state and allow more people to benefit.

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Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing

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Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing

By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com

“Shift or Structural Demand? A Declaration of Civic Duty in a Nation at a Fiscal Crossroads.”

In the unfolding narrative of national development and economic reform, few instruments are as defining as tax compliance. For Nigeria, a nation perpetually grappling with revenue shortfalls, structural dependency on a single export commodity, and entrenched informal economic behaviour, the Federal Government’s recent clarification on tax return deadlines is not mere bureaucratic noise. It is a deliberate and inescapable declaration: the social contract between citizen and state must be honoured through transparent, lawful and timely tax reporting.

At its core, the government’s pronouncement is stark in its simplicity and radical in its implications. Federal authorities, speaking through the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, have made it unequivocally clear that every Nigerian, whether employer or individual taxpayer, must file annual tax returns under the law. This encompasses self-assessment filings by individuals that too many assumed ended once employers deducted pay-as-you-earn taxes from their salaries.

This is not an optional civic suggestion, it is mandatory, backed by statute, and tied to a broader vision of national fiscal responsibility. Citizens can no longer hide behind ignorance, apathy, or false assumptions. “Many people assume that if their employer deducts tax from their salaries, their obligations end there. That is wrong,” Oyedele warned, emphasizing that the obligation to file remains with the individual under both existing and newly reformed tax laws.

The Deadlines and the Reality They Reveal.
Across the federation, state and federal revenue authorities have reaffirmed statutory deadlines in pursuit of compliance. The Lagos State Internal Revenue Service, for instance, moved to extend its filing date for employer returns by a narrow window, reflecting the reality that compliance often lags behind legal timelines. The extension was intended not as leniency, but as a pragmatic effort to allow accurate and complete submissions, underscoring that true compliance rises above mere mechanical ticking of a box.

At the federal level, Oyedele’s intervention was even more fundamental. He reminded Nigerians that annual tax returns for the preceding year must be filed in good faith, with integrity and in respect of the law. This applies regardless of income level including low-income earners who have historically believed that they are outside the tax net. “All of us must file our returns, including those earning low income,” he stated.

Herein lies one of the most challenging truths of contemporary Nigerian governance: widespread tax non-compliance is not just a technical breach of law, it is a deep cultural and structural issue that reflects decades of mistrust between citizens and the state.

The Root of the Problem: Non-Compliance as a Symptom.
Nigeria’s tax culture has long been under scrutiny. Public discourse and economic analysis consistently show that a significant majority of eligible taxpayers do not file annual returns. Oyedele highlighted that even in states widely regarded as tax administration leaders, compliance remains strikingly low, often below five percent.

This widespread non-compliance stems from multiple sources:

A long history of weak tax administration systems, where enforcement was inconsistent and penalties were rarely applied.

A perception that public services do not reflect the taxes collected, eroding the citizenry’s belief in reciprocity.

An informal economy where income often goes unrecorded, making filing seem irrelevant or impossible to many.

Lack of awareness, with many Nigerians genuinely believing that tax liability ends with employer deductions.

The government’s renewed push for compliance directly challenges these perceptions. It signals a shift from voluntary or lax compliance to structured accountability, a stance that aligns with best practices in modern public finance.

Why This Matters: Beyond Deadlines.
At its most profound level, the insistence on tax return filings is about nation-building and shared responsibility.

Scholars of public finance universally agree that a robust tax system is the backbone of sustainable development. As the eminent economist Dr. Joseph E. Stiglitz has observed, “A society that cannot mobilize its own resources through fair taxation undermines both its government’s legitimacy and its capacity to provide for its people.” Filing tax returns is not a mere administrative task, it is a declaration of participation in the collective project of national advancement.

In Nigeria’s context, this declaration carries weight. With the enactment of comprehensive tax reforms in recent years (including unified frameworks for tax administration and enforcement) authorities now possess broader statutory tools to ensure compliance and accountability. These measures, which include electronic filing platforms and stronger enforcement powers, have been framed as fair and equitable, targeting efficiency rather than arbitrariness.

Yet the success of these reforms depends heavily on citizens embracing their civic duties with sincerity. And this depends on mutual trust, the belief that paying taxes yields tangible benefits in infrastructure, education, healthcare, security and social services.

Voices From Experts: Fiscal Responsibility as a Public Ethic.
Tax law experts and economists, reflecting on the compliance push, have underscored a universal theme: taxation without transparency is inequity, but taxation with accountability is empowerment. When managed with fairness, a functional tax system can reduce dependency on volatile revenue sources, stabilise national budgets, and support long-term investment in human capital.

Professor Aisha Bello, a respected authority in fiscal policy, notes that “Tax compliance is not a burden; it is the foundation upon which social contracts are built. A citizen who honours tax obligations affirms the legitimacy of governance and demands better performance in return.”

Similarly, a leading tax scholar, Dr. Emeka Okon, argues that “The era when Nigerians could evade broader tax responsibilities simply because automatic deductions occur at source must end. For a modern economy, every eligible citizen must be part of the formal tax fold not as victims, but as stakeholders.”

These authoritative voices point to an unassailable truth: filing tax returns is both a legal requirement and a moral responsibility, an expression of citizenship in its fullest sense.

Challenges on the Ground: Compliance and Capacity.
While the rhetoric of compliance is compelling, the reality on the ground demands nuanced understanding. Many taxpayers (especially in the informal sector) lack meaningful access to digital platforms and resources for filing returns. For others, the fear of bureaucratic complexity and perceived punitive enforcement deters participation.

The government, for its part, has responded by promoting online systems and pledging greater taxpayer support. Tax authorities are increasingly engaging stakeholders to demystify filing processes, explain requirements and offer assistance. This mix of enforcement and facilitation is essential. As one seasoned revenue specialist observed: “The state cannot compel compliance through force alone; it must earn it through education, simplicity and fairness.”

The Broader Implication: A New Social Compact.
Ultimately, Nigeria’s renewed emphasis on tax return filing transcends administrative deadlines. It is an unequivocal declaration that national development is a shared responsibility, that citizens and state must engage in a transparent, accountable, and reciprocal relationship.

Tax compliance, therefore, becomes far more than a legal act; it becomes a moral claim on the nation’s future.

When citizens file their returns honestly, they affirm their stake in the nation’s destiny. When the government collects taxes transparently and deploys them effectively, it strengthens not only public services but civic trust itself.

In this sense, the deadlines proclaimed by Nigeria’s fiscal authorities mark not an end but a beginning; the beginning of a civic epoch in which accountability replaces apathy, participation replaces indifference and national purpose triumphs over fragmentation.

The road ahead will not be easy. But in demanding compliance, Nigeria is demanding more than tax returns. It is demanding commitment and that, ultimately, is the foundation on which nations are built.

 

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BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

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BUA FOODS PLC RECORDS 101% PROFIT GROWTH IN H1 2025, CONSOLIDATES LEADERSHIP IN NIGERIA’S FOOD SECTOR …Revenue Rises to ₦912.5 Billion; PBT Hits ₦276.1 Billion

BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

By femi Oyewale

BUA Foods Plc has delivered one of the most impressive financial performances in Nigeria’s fast-moving consumer goods (FMCG) sector, recording a 91 per cent increase in Profit After Tax (PAT) for the 2025 financial year.
According to the company’s unaudited financial results for the year ended December 31, 2025, Profit After Tax rose sharply to ₦508 billion, compared with ₦266 billion recorded in 2024, underscoring strong operational efficiency, improved cost management, and resilience despite a challenging macroeconomic environment.
The near-doubling of profit reflects BUA Foods’ ability to navigate rising input costs, foreign exchange volatility, and inflationary pressures that weighed heavily on manufacturers throughout the year. Analysts note that the performance places the company among the strongest earnings growers on the Nigerian Exchange in 2025.
The company’s Q4 2025 performance further highlights this momentum. Group turnover stood at ₦383.4 billion, while gross profit came in at ₦151.5 billion, demonstrating sustained demand across its core product lines including sugar, flour, pasta, and rice.
Despite a year marked by higher operating costs across the industry, BUA Foods maintained disciplined spending. Administrative and selling expenses were kept under control relative to revenue, helping to protect margins.
Operating profit for Q4 2025 stood at ₦126.9 billion, reinforcing the company’s strong core earnings capacity. Although finance costs and foreign exchange losses remained a factor, reflecting the broader economic realities, BUA Foods still closed the period with a Net Profit Before Tax of ₦102.3 billion for the quarter.
Earnings Per Share Rise Sharply
Shareholders were among the biggest beneficiaries of the strong performance. Earnings Per Share (EPS) rose significantly, reflecting the substantial growth in net income and strengthening the company’s investment appeal.
Market watchers say the improved earnings profile could support sustained investor confidence, especially as the company continues to consolidate its leadership position in Nigeria’s food manufacturing space.
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

By femi Oyewale
Industry Leadership Amid Economic Headwinds
BUA Foods’ 2025 results stand out against a backdrop of currency depreciation, energy cost spikes, and logistics challenges that constrained many manufacturers. The company’s scale, backward integration strategy, and local sourcing advantages are widely seen as key contributors to its resilience.
Outlook
With a 91% year-on-year growth in PAT, BUA Foods enters 2026 on a strong footing. Analysts expect the company to remain a major driver of growth in the consumer goods sector, provided macroeconomic stability improves and cost pressures ease.
For now, the 2025 numbers send a clear signal: BUA Foods is not only growing—it is accelerating.
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Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

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Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

In celebration of the season of love, Adron Homes and Properties has announced the launch of its special Valentine campaign, “Love for Love” Promo, a customer-centric initiative designed to reward Nigerians who choose to express love through smart, lasting real estate investments.

The Love for Love Promo offers clients attractive discounts, flexible payment options, and an array of exclusive gift items, reinforcing Adron Homes’ commitment to making property ownership both rewarding and accessible. The campaign runs throughout the Valentine season and applies to the company’s wide portfolio of estates and housing projects strategically located across Nigeria.

 

Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

Speaking on the promo, the company’s Managing Director, Mrs Adenike Ajobo, stated that the initiative is aimed at encouraging individuals and families to move beyond conventional Valentine gifts by investing in assets that secure their future. According to the company, love is best demonstrated through stability, legacy, and long-term value—principles that real estate ownership represents.

Under the promo structure, clients who make a payment of ₦100,000 receive cake, chocolates, and a bottle of wine, while those who pay ₦200,000 are rewarded with a Love Hamper. Payments of ₦500,000 attract a Love Hamper plus cake, and clients who pay ₦1,000,000 enjoy a choice of a Samsung phone or a Love Hamper with cake.

The rewards become increasingly premium as commitment grows. Clients who pay ₦5,000,000 receive either an iPad or an all-expenses-paid romantic getaway for a couple at one of Nigeria’s finest hotels, which includes two nights’ accommodation, special treats, and a Love Hamper. A payment of ₦10,000,000 comes with a choice of a Samsung Z Fold 7, three nights at a top-tier resort in Nigeria, or a full solar power installation.

For high-value investors, the Love for Love Promo delivers exceptional lifestyle experiences. Clients who pay ₦30,000,000 on land are rewarded with a three-night couple’s trip to Doha, Qatar, or South Africa, while purchasers of any Adron Homes house valued at ₦50,000,000 receive a double-door refrigerator.

The promo covers Adron Homes’ estates located in Lagos, Shimawa, Sagamu, Atan–Ota, Papalanto, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger States, offering clients the opportunity to invest in fast-growing, strategically positioned communities nationwide.

Adron Homes reiterated that beyond the incentives, the campaign underscores the company’s strong reputation for secure land titles, affordable pricing, strategic locations, and a proven legacy in real estate development.

As Valentine’s Day approaches, Adron Homes encourages Nigerians at home and in the diaspora to take advantage of the Love for Love Promo to enjoy exceptional value, exclusive rewards, and the opportunity to build a future rooted in love, security, and prosperity.

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