General News
Sona Group Seeks Enhanced Palliatives for Industrial Sector
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Sona Group Nigeria has re-echoed the need for improved infrastructural to serve as palliatives for Nigeria’s industrialization.
The industrial sector is hugely impacted by dilapidated road and other logistics quagmire, poor power supply, multiple taxations, insecurity, high cost of production, to name a few.
The Group comprising of Euro Global Foods and Distilleries Ltd; Food, Agro and Allied Industries Ltd; Golden Auto Engineering and Transport Co. Ltd., Shongai Packaging Industry Ltd., Shongai Technologies Ltd., Sona Agro Allied Foods Ltd., Sona Group Nigeria Ltd., Sona Industrial Gases Ltd and Techblow Nigeria Limited, said enhanced infrastructure will not only bring succour to the nation’s manufacturing sector, rather will create enabling ground for job creation.
Mr. Peter Akinola Oyaniyi, group executive director for the Group, while speaking to journalists at their office in Ogun State, at the weekend, said that Sona has been apt in industrialization of Nigeria using technology and home grown raw materials, adding that the nation’s economic buoyancy revolves round functional and productive industries.
Oyaniyi Said, “We believe that industrialization remains the best option for solving the country’s youth unemployment, and the right path to national greatness. In Sona Group Nigeria, we see industrialization as the key that will free Nigeria from further retrogression. To achieve that, we have to improve on the existing infrastructure as a nation”.
He added that the Group which has been in operation for over three decades in Nigeria is notable for keeping to the Government’s regulations and international best practices, and has over the years earned a reputation of ‘Turn around Experts’ in Nigeria.
“Sona Group, Nigeria is one of Nigeria’s fastest growing Groups. The Group is presently in the business of manufacturing Plastic and Glass Container. It started business in Nigeria decades ago. The Group’s strategy has been to acquire existing sick units and turn them around. After the unit is acquired, we bring in new investments, modern technology, state-of-art machines and modern management techniques that help to turn the business perspective”.
Nodding in agreement to Oyaniyi’s prognosis, Mr. Subramanian Murugesan, managing director, Sona Agro Allied Foods Limited, said that Nigeria pursues industrial policy that is innovation-driven to foster skills upgrade, enhance industrial growth and produce world class exports, it must make conscious efforts to address challenges before the sector.
According to him, the bottlenecks experienced at both the sea and airports should be addressed, maintaining that, “roads need to be improved to enable companies meet up with supplies or demands of the market too and help in the reduction of costs on maintenance of vehicles.
“The truth is that these costs are transferred to the customers; sometimes jerking up the cost of goods by about 8%, compared to 2% obtainable in other markets. We believe that as a developing economy the infrastructure need to be improved.
On Sona Agro Allied Foods Limited activities in the market, he said they have well laid out plan for continuous expansion to meet the ever expanding requirement of the Nigerian snacks market.
Murugesan said, “Presently, the Company is well managed by professional managerial talent, the best of the industry in Nigeria, both expatriate and local managers. The quality standards of our products are of highest level meeting specifications laid out by NAFDAC and SON agencies of Nigeria”.
Sona Agro Allied Foods Limited also manufacture other snacks such as Cereal based cheese balls snacks, extruded snacks, health snacks bars for healthy conscious people.
On his part, Mr. Katikala Ramanjananeyulu, managing director of Sona Industrial Gases Limited, a leading name in the Industrial Gases sector in Nigeria, deals in Oxygen, Nitrogen, Acetylene, Medical Oxygen and Argon gases, and recently introduced the other gases such as Carbon Dioxide, Helium, Amonia, Cooking Gas, Calibration and all mixture gases.
“With our fleet of vehicles, we reach out to all our customers needing industrial gases in compressed form or Liquid as they demand,” he said.
Ramanjananeyulu said that the Company established in a secured environment, invests in R&D and hopes to achieve breakthrough in manufacturing resources through the introduction of newly acquired plants, which will bring total modification of the Acetylene production facility and currently boasts of 170 customers in Nigeria, while looking out for others to give discount on medical oxygen as life saving gas to supply hospitals in Nigeria as part of its corporate social responsibilities (CSR).
Challenges facing their operations, he said, include, high rate of customs duty, cumbersome procedure for clearance of imported materials, high cost of importation due to the devaluation of Naira, among others.
There was a presentation by Techblow Nigeria Limited which produces all kinds of blow moulding products ranging from 500ml to 50 litre Plastic Jerry Cans, Plastic Coolers, Cosmetic Jars, Pharma Bottles, Yoghurt Bottles, and other containers to cater to the needs of the Foods, Beverages and Chemicals industries, and other retail sectors.
Also, Shongai Packaging Industry Ltd, incorporated in 1977, and today produces rugged industrial pallets and rated as among Nigeria’s 50 fastest growing companies.
The company was initially conceived to produce plastic crates and beer labels; but now mulls mainly four (4) manufacturing division, Injection Moulding Division; Blow Moulding Division (Extrusion Blow & Injection Blow); Label Printing Division and Crate printing /Container Printing Division.
Mr. Sudhanusu Shina, managing director, Food, Agro & Allied Industries Limited, said the Comapny is one of the most modern malting plants in Nigeria to process Raw Sorghum into Sorghum Malt and Malt Derivatives.
“We produce a range of quality sorghum malt and malt extract, Distillery, Confectionery and Malted Food Industries.
“Our commitment to customers’ satisfaction, and to adopt latest technology in malting earned recognition as a leader in the industry within short period of going into production. Adherence to strict quality control and continued development helped us to get of ISO 9001:2008 Certification in 2010”.
Re-emphasizing the manufacturing expert’s advocacy, Mr. Felix Aighobahi, the Group’s sales director, said that the country’s policy should include the establishment of many-side economic structure, the build-up of its own independent and solid bases for raw materials, modernization of all sectors of the national economy and the training of its own technical cadre.
Nigeria is experiencing a complex cybersecurity landscape where reported fraud incidents have decreased by nearly 46 percent over the past four years, yet financial losses from cybercrime are on the rise, according to Check Point Software.
This trend is attributed to sophisticated schemes developed by cybercriminals who are increasingly targeting the nation’s rapidly digitizing economy, with further coverage provided by Dark Reading.
Nigeria’s digital transformation has made it a prime target for cybercriminals.
In June 2026, organizations in the country faced an average of 4,361 attempted attacks weekly, ranking it second in Africa for cyber threats.
While the volume of detected threats fluctuates, it consistently remains elevated, often double the global average.
The Nigerian government is developing a new cybersecurity framework, expected later this year, which will mandate incident reporting, set minimum cybersecurity investment levels, and foster public-private collaboration.
Despite a decrease in the number of reported fraud incidents, financial losses have escalated, with digital payment fraud reaching ₦25.85 billion (US$18.7 million) in 2025.
Insider threats, including SIM swap fraud and account compromise, are significant contributors to these losses. Many organizations, particularly smaller businesses, lack adequate training and resources, making them more vulnerable.
The country’s cybersecurity maturity is ranked at a moderate level, and effective enforcement of existing regulations, such as the Data Protection Act, will be crucial to combatting the growing financial impact of cyberattacks.
TotalEnergies, together with its partners Hydra Storage Holding and Reatile Renewables, inaugurates Hydra project, the largest hybrid renewable energy project in Africa, located in South Africa’s Northern Cape province.
The project combines a 216 MW solar photovoltaic plant with a 500 MWh battery energy storage system, marking a significant contribution to the country’s Just Energy Transition program that aims to decarbonise the economy thanks to renewable energy sources.
The facility will supply 75 MW of dispatchable renewable electricity to the national grid continuously between 5:00 a.m. and 9:30 p.m., under a 20-year power purchase agreement signed with Eskom. This represents more than 400 GWh of electricity per year, equivalent to the consumption of approximately 200,000 South African households.
“We are delighted, together with our partners Reatile Renewables and Hydra Storage Holding, to bring the Hydra project into operation. It enables us to supply dispatchable renewable power to the South African grid, thereby strengthening the country’s energy security while decarbonising its electricity generation.
This project reinforces our renewable production capacity in South Africa, the continent’s largest power market in terms of electricity consumption”, said Magali Pailhé, Managing Director of TotalEnergies Southern Africa.
Hydra project has been developed by a consortium composed of TotalEnergies (35%), Hydra Storage Holding (35%) and Reatile Renewables (30%). It is part of the South Africa’s Risk Mitigation Independent Power Producer Procurement Programme launched by the Department of Mineral Resources and Energy.
General News
BOI Pledges to Drive Nigeria’s Cocoa and Dairy Sectors with 70% of its €85m EIB Facility
Bank of Industry (BOI) has secured a €60 million credit facility from the European Investment Bank to fund Nigeria’s cocoa and dairy value addition drive, with a focus on processing, ingredients and chocolate manufacturing.
Dr. Olasupo Olusi, Managing Director/CEO of BOI, disclosed this on Tuesday, during the Africa Cocoa Summit convened in Abuja by the Federal Ministry of Industry, Trade and Investment with the aim of transitioning Africa from exporting raw beans to local processing and branding.
Also known as the Cocoa Value Addition Summit with the theme: ‘From Bean to Brand,’ it was attended by leaders and stakeholders from Nigeria, Ghana, Côte d’Ivoire, and Cameroon who signed the Abuja Declaration to establish the Cocoa Value Addition Alliance (CVAA).
According to Olusi, the €60 million forms part of the €85 million EIB–BOI facility, backed by the European Union under the Global Gateway initiative, and designed specifically to strengthen these critical sectors in Nigeria.
“This agreement reinforces the Bank of Industry’s commitment to unlocking long-term, affordable finance for priority sectors that drive inclusive growth. Approximately 70% of the €85 million financing facility will be channeled to Nigeria’s cocoa and dairy sectors, which BOI considers among the industries with the greatest potential to create jobs and retain foreign exchange earnings.”
“We are particularly focused on cocoa value chains, which provide livelihoods for thousands of Nigerians. Through this initiative, we aim to enhance productivity, value addition, and market linkages that will directly improve the incomes of farmers and processors,” he said.
The BOI MD said that the bank would prioritise lending to processors, cooperatives, and MSMEs that add value locally, rather than only to traders exporting raw beans, adding that the era of celebrating volume of raw exports must end, as Nigeria loses billions by shipping beans and importing finished chocolate. According to him, the goal is to create factories around cocoa communities so that value, jobs, and taxes remain in Nigeria.
However, Olusi noted that financing alone is not enough, and as such, BOI will complement the loans with technical assistance on compliance, climate standards, and access to the EU market. BOI, he said, will also support farmers and processors to meet the EU Deforestation Regulation and other international environmental and social standards.
Citing BOI’s track record, Olusi said the bank disbursed over ₦164 billion in 2025 to more than 3,500 agro and food-processing businesses. The support financed factories, mills, packhouses, and cold chains, and linked nearly 48,000 smallholder farmers into industrial value chains.
He said the new financing would target the entire ecosystem, from nurseries and farmer cooperatives to grinding plants, ingredient factories, packaging lines, and chocolate manufacturers.
Speaking also at the summit, President Bola Tinubu called for a decisive shift from Africa’s long-standing dependence on exporting raw cocoa beans, urging producing countries to prioritise value addition and capture a larger share of the global chocolate industry’s wealth.
The President who was represented by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, noted that although Africa accounts for about 70 per cent of global cocoa production, the continent retains only six cents of every dollar generated by the global chocolate industry.
He stressed that Nigeria was committed to processing more of its cocoa locally, expanding chocolate manufacturing, building indigenous brands and competing more effectively in international markets, rather than continuing to export raw cocoa beans.
According to the President, cocoa value addition remains a key component of the Renewed Hope Agenda and the country’s broader industrialisation strategy, and disclosed that investors are developing a 70,000-tonne cocoa processing facility in Shagamu, Ogun State, while Nigeria’s cocoa grinding capacity has already surpassed 120,000 tonnes annually.
Earlier, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the summit aligns with the Federal Government’s ambition of building a one-trillion-dollar economy by 2030.
She observed that despite Nigeria’s significant contribution to global cocoa production, the country continues to earn only a small fraction of the value created across the cocoa value chain.
According to Oduwole, the Federal Government is promoting greater value addition through manufacturing incentives, investment promotion and stronger collaboration among relevant institutions.
She added that the government would also deepen market access by leveraging existing trade partnerships and opportunities under the African Continental Free Trade Area (AfCFTA), while encouraging investors to take advantage of regional and global value chains to unlock the sector’s full economic potential.
Also speaking, the Minister of State for Industry, Senator John Owan Enoh, described the summit as another milestone in implementing Nigeria’s Industrial Policy, and announced plans for the establishment of the Cocoa Value Addition Alliance, bringing together Nigeria, Ghana, Côte d’Ivoire and Cameroon, countries that collectively account for about 75 percent of global cocoa production.
According to Enoh, the alliance is designed to strengthen regional cooperation, promote local processing, and enable producing countries to capture greater value from the global cocoa market.
“We are not here to disrupt existing partnerships but to expand them,” he said.
Enoh urged African cocoa-producing nations to move beyond exporting raw beans and instead focus on developing branded cocoa products capable of competing successfully in global markets.
On his part, the Chief Executive of the Ghana Cocoa Board (COCOBOD), Dr. Ransford Abbey, urged African cocoa-producing countries to deepen domestic processing.
“I am here to support the effort and commit to a joint effort towards increasing value for our hardworking cocoa farmers and our respective economies,” Abbey said.
He said Africa produced about 75 per cent of the world’s cocoa but earned less than 10 per cent of the global chocolate industry’s wealth.
“This system cannot continue. We must shift the paradigm from exporting raw poverty to creating refined wealth right here on the African continent,” he said, adding that stronger regional collaboration, investment and technology transfer will help African countries capture greater value from the global cocoa economy.
The Head of Cooperation of the European Union Delegation to Nigeria and ECOWAS, Mr. Massimo De Luca, reiterated the importance of value addition in the cocoa value chain. While expressing the support of the EU, he called on governments of the various countries to ensure they play their part in ensuring that proper framework necessary for the success of the initiative was established and clarified.
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