Business

SAO Agro, a key investor leading the Ondo Special Agro Processing Zone, recently welcomed Governor Lucky Orimisan Aiyedatiwa to its 10,120-hectare commercial oil palm estate in Ore, Ondo State. The visit highlighted the state government’s commitment to supporting large-scale agribusinesses like SAO Agro and JB Farms, which employ thousands and drive food security and rural development. As a symbolic show …

The Federal Government has assured power generation companies (Gencos) that steps are being taken to offset the N4.7 trillion debt owed to them to prevent a nationwide blackout. Concerns have been raised over the liquidity crisis in the sector, with some Gencos struggling to sustain operations due to unpaid invoices. Gas-fired power plants are particularly affected, as they face difficulties …

As part of its commitment towards food security, the Lagos State Governor, Mr Babjide Sanwo-Olu would be delivering the keynote speech for the 10th edition of agrofood & plastprintpack Nigeria which will commence on Tuesday, March 25, 2025 in Lagos. His presence emphasises the speeks volume of Lagos State’s commitment to industrialisation, trade expansion, food security, and sustainable packaging solutions. …

The Director-General of the Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, has stated that the recent commencement of polypropylene production by the Dangote Refinery has the potential to revive Nigeria’s struggling textile industry. Reportedly in an interview, Ajayi-Kadir described the development as a game-changer, highlighting that the refinery’s 830,000 metric tonnes annual production capacity far exceeds the country’s local …

The Cross River State Government has partnered with Kwara-based agribusiness firm, JR Farms, to develop a 30,000-hectare coffee plantation across the state’s 18 local government areas over the next five years. Speaking in Ilorin, JR Farms’ founder, Olawale Rotimi-Opeyemi, said the initiative aims to expand the coffee value chain and position Cross River as a major player in Nigeria’s coffee …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has slammed private depot owners for stockpiling petrol and inflating prices following the Dangote Petroleum Refinery’s suspension of naira-based sales. Retailers have begun hoarding Premium Motor Spirit (PMS) in anticipation of a price hike, fearing that the failure of the Federal Government to continue crude oil sales to Dangote Refinery in naira …

The founder of Atiba University Oyo (AUO), Dr. James Ojebode, has emphasized the need for the government to prioritize education and agriculture to ensure food security and economic advancement. Speaking at the university’s inaugural Founder’s Public Lecture, Ojebode highlighted the critical role of training the next generation of farmers and agricultural professionals in driving Nigeria’s development. To address these needs, …

The Minister of Livestock Development, Idi Maiha, has announced that the Federal Government will clear 500 hectares of land in Benue State to boost ranching and dairy production. Speaking on Saturday at the Benue Livestock Investigation and Breeding Centre in Raav, Gwer East LGA, Maiha said the 2,400 hectares allocated to the centre was sufficient for large-scale livestock development, with …

The Nigerian Exchange Ltd. (NGX) has lifted the trading suspension on the shares of Mutual Benefits Assurance Plc, effective Thursday, March 20, 2025. This allows shareholders to resume trading the company’s shares on the NGX platform. The company was initially suspended on July 8, 2024, for failing to file its financial accounts within the stipulated timeframe, as required by NGX …

The Federal Airports Authority of Nigeria (FAAN) has announced the temporary closure of Samuel Ladoke Akintola Airport, Ibadan, Oyo State, to facilitate extensive upgrade works aimed at enhancing its infrastructure and operational standards. In a statement signed by its Director of Public Affairs and Consumer Protection, Mrs. Obiageli Orah on Sunday, FAAN confirmed that the Federal Government approved the closure …