E-Business
2021 Annual General Meeting: Honeywell Flour Mills to Advance Technology Infrastructure in 10-Year-Plan

Honeywell Flour Mills Plc. (HFMP), leading foods manufacturer, has informed shareholders of its 10-year-plan to increase investment in innovative product development and advanced technology infrastructure, with continued focus on operational efficiency and local content development as the key strategic drivers for increasing shareholder value and growing market share during the next financial year.

L-R: Finance Director, Honeywell Flour Mills Plc., Mobolaji Fakayode; Managing Director, Honeywell Flour Mills Plc., Lanre Jaiyeola; Company Secretary, Honeywell Flour Mills Plc., Yewande Giwa and Supply Chain Director, Honeywell Flour Mills Plc., Tayo Ilori during Honeywell Flour Mills Plc’s 12th Annual General meeting at the Civic Centre, Lagos on Thursday, October 14, 2021.
The company reiterated its commitment to sustainable growth within the industry and the provision of affordable staple foods to Nigeria’s fast-growing population, during its 12th Annual General Meeting (AGM) which held at the Civic Centre, Victoria Island, Lagos, on Thursday, October 14, 2021.
Dr. Oba Otudeko, chairman of the Board of Directors, acknowledged the complexities of the past financial year while highlighting the company’s steady growth and its focus on the future, “When the financial year 2020/2021 commenced, few could have imagined what the year had in store for the company and the world.
We responded by working collaboratively towards the execution of our corporate goals, guided by clear priorities; keeping our people safe and motivated, ensuring supply of our food products to consumers across the length and breadth of the country, and caring for the communities where we operate.
Despite the inevitable disruption to our business, we delivered a strong performance in very challenging circumstances.
In respect of the future, Otudeko says, “While we expect market conditions to remain tough and the effects of COVID-19 may be with us for the foreseeable future, our company has shown the capacity to withstand shocks and emerge stronger.
“And with consumer behaviour evolving faster than ever, we are adapting to this new reality by executing with speed in order to deliver competitive returns and meet the needs of our multiple stakeholders.
“We are committed to investing in the capabilities we need, the know-how and the talent to continue to create value.”
Lanre Jaiyeola, managing director, said, Honeywell Flour Mills Plc. has continued to seek innovative solutions for feeding the ever-growing Nigerian population, using affordable and easily accessible foods, while simultaneously combating inflation and rising food prices.
“In the past financial year, we achieved record production and sales volumes driven by consumer food products which also achieved record sales volume. Our investment in a new Pasta factory at Sagamu paid off greatly as we grew Pasta sales by over 40% to meet the generated demand for our Pasta products.”
The learnings from the developments in the past 12 months have encouraged the company to sharpen its focus and embark on a 10-year journey towards creating more value, “Consequently, we have commenced a 10-year evolutionary journey that will see Honeywell Flour Mills transition to become Honeywell Foods.
“Our aim is to offer a portfolio of food products manufactured from a wide range of raw materials drawn from local sources that offer good nutrition and contribute to a healthier and balanced life.
“Our aim also aligns with the Federal Government’s commitment to achieving the United Nation’s 2030 Agenda of Sustainable Development Goals that seeks to ensure access to safe, nutritious and sufficient food.”
“We will continue to focus on our competitive advantage and improve our product offerings in order to exceed our consumers’ expectations while increasing market share, and delivering value to our shareholders,” he stated.
The company recorded an all-time high revenue of N109.5 billion, an increase of 36% over N80.4 billion for the financial year ending March 2021. Increased production output, pioneering new ways of selling, developing relationships with new customers all over the country across traditional and modern trades, and more efficient operational capabilities at its factories in Apapa, Sagamu and Ikeja, were key contributing factors to the revenue increase.
The company’s Operating Profit grew faster than revenue at 39%, from N5.4 billion in FY 2020 to N7.6 billion in FY 2021.
The Board recommended the payment of 7 kobo per share as dividend for the year subject to shareholders’ approval.
FY 2021 was the company’s best performing year ever revenue-wise as it crossed the 100 billion mark for the first time ever, joining an exclusive league of Nigerian companies with over 100 billion Naira annual revenue.
E-Business
Interswitch Partners Abia to Digitise Public Hospitals

Interswitch, a technology company, through its health-tech subsidiary, Interswitch eClat, has taken a major step in advancing Nigeria’s public-sector health digitisation agenda following the conclusion of a high-level stakeholders’ engagement with the Abia State Government.

The engagement took place ahead of the phased deployment of eClinic, Interswitch eClat’s Electronic Medical Records platform, across public health facilities in the state, the firm stated in a statement on Friday.
The engagement, convened by the Abia State Ministry of Health in collaboration with Interswitch and held at the State’s Ministry of Health in Umuahia, brought together senior government officials, health administrators, Interswitch representatives, and key ecosystem stakeholders to align on the scope, implementation framework, and expected outcomes of the proposed eClinic deployment.
The initiative reflects a shared commitment to leveraging digital infrastructure to improve healthcare delivery, operational efficiency, and patient outcomes across Abia State’s public health system.
Discussions focused on deploying Interswitch’s eClinic solution in alignment with Abia State’s broader healthcare reform agenda under the current administration, particularly the transition from fragmented, paper-based systems to secure, interoperable digital platforms across public health facilities.
The proposed kick-off phase will span six public health facilities, including three primary healthcare centres, two secondary facilities, and one tertiary hospital, creating an end-to-end digital care pathway that strengthens patient referrals, supports continuity of care, and enables data-driven decision-making across all levels of service delivery.
The EMR solution is built to reduce patient waiting times, strengthen referral processes, and ensure the secure handling of both clinical and administrative data, supported by a hybrid infrastructure that enables local hosting with cloud-based backup.
Speaking at the engagement, Prof Enoch Uche, the Commissioner for Health, Abia State, described the initiative as a major milestone in the state’s healthcare transformation journey and highlighted the importance of private-sector collaboration in achieving sustainable impact.
“The Ministry of Health in Abia State is excited about the digitisation of health facilities, starting with Interswitch’s eClinic pilot phase involving three primary, two secondary, and one tertiary health centre. This initiative will enhance efficiency, accountability, and patient care by linking records across different levels of care.
“Global evidence shows that digital health improves access, reduces the cost of care, and maximises human resources while personalising services for our people. This partnership with Interswitch represents a key deliverable for this administration and aligns with the Governor’s vision for a modern, technology-driven health system,” he said.
During technical sessions led by Babatunde Fadeyi, Vice President, Health Ecosystem (Public Sector), Interswitch, stakeholders were taken through the core capabilities of Interswitch’s eClinic platform.
These include secure patient record management, ICD-11–compliant diagnosis coding, controlled data update protocols, and integrated billing and reporting tools designed to improve efficiency and accountability across health facilities.
Stakeholders were also briefed on the platform’s governance framework, risk mitigation approach, and phased implementation roadmap. Commenting on the engagement, Fadeyi reaffirmed Interswitch’s commitment to delivering measurable impact through technology-enabled healthcare systems.
“Abia State has demonstrated a strong commitment to innovation and system reform. The alignment of the state’s healthcare priorities with national health digitisation objectives creates a solid foundation for meaningful progress. Interswitch’s eClinic platform is designed to improve hospital operations by automating workflows, securing patient data, and providing healthcare managers with reliable insights to guide decisions.
“Beyond improving patient experience, it supports stronger revenue tracking, operational efficiency, and accountability. Our focus is to ensure the success of this pilot phase and deliver tangible improvements across productivity, service delivery, and patient satisfaction,” he said.
Also speaking at the engagement, Dr Ifeyinwa Blossom Uma-Kalu, the Permanent Secretary of the Ministry of Health, Abia State, highlighted the operational and clinical value of Interswitch’s eClinic initiative, particularly in strengthening referrals, improving revenue management, and expanding access to specialist care.
“This digitisation initiative will help us track our finances and internally generated revenue more accurately while reducing leakages. More importantly, it strengthens our referral system by allowing patient records to move seamlessly from primary to secondary and tertiary care.
“With a digital framework, healthcare workers in remote communities can access specialist support through telemedicine, helping to save lives and improve outcomes. This is a critical tool in our efforts to reduce maternal and infant mortality, and we are eager to see the outcomes of Interswitch’s eClinic,” she noted.
The engagement also addressed key success factors for the project, including power stability, user training, change management, and inter-agency collaboration, with both parties emphasising sustainability and scalability as the project progresses.
E-Business
WIEG 2026 Summit Shifts to April 22-23 for Maximum Impact

Organisers of the World International Economic Group (WIEG) 2026 Investment Summit have rescheduled the event to April 22-23, 2026, at Four Points by Sheraton, Oniru, Victoria Island, Lagos, to boost institutional participation, stakeholder alignment, and investment outcomes amid Ramadan considerations.

WIEG 2026 Summit
A statement from the Summit secretariat attributed the shift to extensive consultations with high-level public and private sector players, including government institutions, development finance partners, industry regulators, sponsors, and sector leaders.
It emphasised the need for additional time post-Ramadan to enable deeper engagement, secure internal approvals, and align with senior executives’ and policy leaders’ calendars.
The rescheduling, described as a “strategic enhancement,” allows for substantive contributions from speakers, panelists, and deal partners while mobilising investment networks and sectoral ecosystems.
The secretariat expressed appreciation to stakeholders whose early commitments underscore the Summit’s credibility in building a transformative platform for Nigeria and Africa.
Unlike conventional conferences, the WIEG 2026 Summit targets high-impact deal-making for a Smart City project and key Nigerian economic sectors, ensuring top-level decision-makers deliver measurable results.
The new dates are expected to expand government-private sector representation, strengthen investor pipelines, boost global delegate turnout, foster policy-investment dialogues, and heighten partnership visibility.
WIEG, registered in 200 countries with headquarters in Malaysia, promotes global partnerships for business opportunities across investment, trade, community development, humanitarian action, and sustainable growth in emerging markets. Its Nigeria chapter is fully registered to coordinate local programmes, investments, and partnerships.
E-Business
NITDA DG Reaffirms FG Commitment to Responsible and Inclusive AI

The Federal Government of Nigeria has reaffirmed its commitment to building a responsible, inclusive, and sovereign artificial intelligence ecosystem to enable Nigeria to transition from being a passive consumer of AI technologies to an architect and builder of indigenous AI systems.

This was said by the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi CCIE, while delivering a virtual address at the InnovateAI Conference held in Lagos.
The conference brought together policymakers, technology leaders, innovators, and stakeholders to discuss the future of artificial intelligence and its role in driving Nigeria’s digital economy and national development agenda.
Inuwa outlined Nigeria’s ambition to transition from being a consumer of artificial intelligence technologies to becoming a builder and owner of AI systems that reflect national values and priorities, in line with the National AI Strategy.
“Our goal is not just to use AI, but to architect and build our own AI systems in Nigeria,” he said, stressing that the country must take ownership of its AI future.
He noted that Nigeria’s approach to artificial intelligence extends beyond innovation to include governance, infrastructure, data sovereignty, and policy evolution.
According to him, “Responsible AI is never a finished job; it is an iterative journey. Our policies must evolve as the technology evolves, and we must avoid frozen laws by adopting living policies that adapt over time.”
He cited the implementation of the Digital Economy and E-Governance Bill as a key mechanism for generating insights that will help refine AI regulations and governance frameworks.
Inuwa also highlighted the challenge of data representation in global AI systems, noting that most models are trained on non-African datasets, which often results in bias against local dialects, cultures, and demographics.
“If a model shows bias against a local dialect or demographic, we cannot just patch it. We must reinvest in infrastructure to retrain it with inclusive and representative local datasets,” he stated.
He added that building national AI infrastructure is critical to achieving data sovereignty and ensuring that Nigeria is not merely an end user of foreign AI systems.
He further called for strategic partnerships with global technology companies and hyperscalers to build AI infrastructure in Nigeria while aligning with local values and national priorities.
“The world today is a global village. We need to work with global players, but they must understand our local nuances and help us build the infrastructure to retrain and develop AI models that reflect our context,” he said.
The NITDA Director General explained that adopting a comprehensive AI lifecycle approach, from responsible data collection and governance to deployment and continuous feedback, will enable Nigeria to move from reacting to AI developments to proactively designing indigenous AI systems.
“Without understanding how AI models are trained, how decisions are made, and how models are retrained, it will be difficult to build a responsible and trustworthy AI system,” he warned.
He reaffirmed that the Federal Government is intentional about promoting responsible AI and is working closely with the technology ecosystem to co-design national AI guardrails. He described platforms such as the InnovateAI Conference and other national AI dialogues as critical to shaping Nigeria’s AI future.
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