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AfDB Approves $152.50m for Agric Transformation in Nigeria

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The African Development Bank Group (AfDB), Africa’s premier development finance institution has approved an African Development Fund (ADF) loan of $ 152.12 million and an ADF grant of $ 0.38 million to finance Nigeria’s Agricultural Transformation Agenda Support Program Phase 1 (ATASP-1).

The overall goal of the Program is to transform agriculture into a profitable business.

ATASP-1 seeks to promote employment generation and shared wealth creation along the commodity value chains, as well as food and nutrition security.

Its specific objective is to sustainably increase the income of smallholder farmers and rural entrepreneurs engaged in the production, processing, storage and marketing of the selected commodity value chains.

According to AfDB estimates, Nigeria has a huge potential in agriculture with 84 million hectares of arable land, abundant labour, untapped water resources and a market of 167 million people.

However, less than 40% of the arable land is cultivated and the country has become a net importer of food, spending over $10 billion per annum in the importation of wheat, rice, sugar and fish.

Reports from Bank funded projects indicate that while farmers have made significant gains by adopting improved crop varieties and farming practices, productivity falls far short of the full potential along the commodity value chains.

Thus, the current project is targeting support for value addition through processing, better nutritious product and market linkages to improve farm profits and incomes critical for enhanced productivity from subsistence to commercial agriculture.

The Program is in line with the Federal Government of Nigeria’s Agricultural Transformation Agenda (ATA) which aims to attract private sector investment in agriculture, reduce post-harvest losses, add value to local agricultural produce, develop rural infrastructure and enhance access of farmers and other value chain actors to financial services and markets.

The ATASP-1 fits with the two strategic pillars of the Bank’s Country Strategy Paper for Nigeria (CSP, 2013-2017) which are: (i) Supporting the Development of a Sound Policy Environment; and (ii) – Investing in Critical Infrastructure to Promote the Development of the Real Sector of the Economy.

ATASP-1 is mainly an infrastructure restoration intervention that will rehabilitate 1,300 kms of irrigation water conveyance canals; 39,777 ha of existing crop production schemes; 1,330 kms of feeder roads; 1,007 units of hydraulic structures; 14 community markets; 35 primary schools; and 14 community health centers.

It will provide 63 potable water and sanitation systems and establish seven technology demonstration centers.

It will be implemented in four Staple Crops Processing Zones in seven States covering 194,426 km2 of land and 32,121,944 inhabitants (50.93% males and 49.07% females) who are predominantly farmers and small scale commodity processors.

The direct beneficiaries of ATASP-1 include 45,300 farmers and rural entrepreneurs participating in commercial agricultural value chains in the four Processing Zones.

These include existing or potential small, medium and large-scale entrepreneurs and business associations who provide services to rural households.

A further 200,000 rural youth (40% of them are estimated to be females), who presently lack employment opportunities in the adjourning farming communities will be especially targeted in the outreach Program that will provide them with training and support to improve their lives through engagement in agriculture and related businesses.

 The Program, to be implemented in five years is estimated at $ 175 million.

The Bank’s financing will account for 87.0% of the overall costs. The Federal Government and seven States located in the four Processing Zones will contribute 12.2%, while the beneficiaries will contribute 0.6% of total Program costs.

The beneficiaries include farmers and farmers’ cooperatives, commodity processors, private sector operators and registered Small and Medium Enterprises (SMEs) (input dealers and service providers).


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CAC Lists 15 Unregistered Firms Operating in Nigeria

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Corporate Affairs Commission (CAC) has warned Nigerians against dealing with 15 unregistered entities using company names and registration numbers that are not in the commission’s records.

CAC Lists 15 Unregistered Firms Operating in Nigeria

In a public notice signed by CAC Management, the commission said it had discovered the use of purported company names and RC numbers that are not registered with the CAC, urging the public to disregard them and verify all business information directly from its portal.

“The CAC remains committed to protecting the integrity of the Companies Register, upholding the law, and ensuring a safe and transparent business environment in Nigeria,” the CAC said.

According to the notice, the following are the entities not registered with the CAC:

Famas Services Nigeria Limited (RC: 216312)

Promo Dutch Investment Limited (RC: 396654)

Dialack Concept Nig. Ltd (RC: 297772)

Purpleheart Construction and Real Estate Mgt. Co. Ltd (RC: 1210548)

M/S Loktu Enterprises (BN: 373466)

Loktu Enterprises (BN: 400390)

Badatoyak Ltd (RC: 521322)

Johson Nats Limited (RC: 198492)

Peoples Club Nigeria International (CAC/IT/41191)

Jiba Enterprise (BN: 577523)

Civil Engineering Solutions Nigeria Limited (RC: 33001)

Gabdoff Hotel Ltd (RC: 112409)

Amoka Group (BN: 545221)

BEEC Nigeria Limited (RC: 30143)

  1. Adetunji (BN: 657466)

Explaining the reason for the commission’s publication, the statement noted that it aligns with its statutory role of maintaining an accurate and reliable companies register, protecting investors, and preventing fraudulent activities in the business environment.

The commission urged Nigerians to always confirm the status of any company or business name through its official portal.


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IHS Nigeria Leads Gender Based Violence Awareness Walk, Reaffirms Zero Tolerance with Advocacy Seminar

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Demonstrating unwavering commitment to a safe and dignified workplace, IHS Nigeria held an awareness walk followed by a high-impact seminar as part of activities to commemorate the global 16 days of activism to End Gender-Based Violence against women and girls.

The initiative underscored the organisation’s ongoing efforts to sensitize the community, educate employees, strengthen internal safeguards, and reinforce its zero-tolerance policy for all forms of harassment and abuse.

After the walk along Adeola Odeku and Idejo Streets on Victoria Island, employees convened for a seminar at the IHS Nigeria corporate head office, where Bukola Konkwo, Associate Director, Operations Excellence IHS Nigeria and one of the leaders of the Women in IHS Network (WIIN), reiterated the organisation’s position on gender-based violence in her opening remarks:

“Violence does not discriminate, and neither should our compassion. At IHS Nigeria, boldness is not just a value on paper, it is a call to action. We are intentional about ensuring every employee feels safe, respected, and empowered.”

The seminar featured two leading voices in Gender Based Violence advocacy. Titiola Vivour Adeniyi, the Executive Secretary of the Lagos State Domestic and Sexual Violence Agency and Nwanne Okafor, Victimologist and Gender Based Violence Advocate. Speaking during the seminar, Titilope stressed the urgency of prevention and education:

“Gender-based violence is not a special-class problem. Anybody can be a victim. Our responsibility is to know the signs, protect one another, and intervene early. When we know better, we do better.”

She also encouraged organisations to prioritise consent education, confidential reporting, and background checks, practices IHS Nigeria has already integrated through its Safe Zone Committee, a confidential support system for staff.

Nwanne Okafor, also spoke on the role of colleagues in recognizing and responding to abuse in the workplace:

“Many victims don’t need you to fix their situation, they need your support, your sensitivity, and your discretion. Speak up when necessary. Silence gives violence permission.”

Her session included real-life cases that underscored how abuse affects workplace productivity, mental health, and safety.

The awareness walk, saw both male and female staff members from across various departments marching in solidarity with survivors and advocates worldwide  and served as a public declaration of IHS Nigeria’s commitment to building a culture rooted in respect, safety, and accountability.

Reinforcing IHS Nigeria’s stand, during her  closing remarks, Titilope Oguntuga, Director, Sustainability, IHS Nigeria, captured the spirit of the event:

“This conversation doesn’t end today. Now that we know better, we must all do better, by advocating, supporting, and actively contributing to a workplace free of violence in any form.”

IHS Nigeria continues to strengthen its internal systems, policy frameworks, training programs, safe reporting channels, and continuous awareness sessions, to ensure that every employee is protected and empowered. The organisation reaffirms its zero-tolerance policy for any form of harassment, abuse, or violence, and remains committed to leading the corporate sector in progressive, people-centered safety standards.


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Nigeria’s GDP Rises to 3.98% in Q3 2025, Driven by Agriculture, ICT, and Finance

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Nigeria’s economy expanded by $3.98$ per cent in the third quarter of 2025, according to the latest Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS) on Monday.

Nigeria’s GDP Rises to 3.98% in Q3 2025, Driven by Agriculture, ICT, and Finance

GDP

This growth rate marks a slight improvement from the $3.86$ per cent recorded in the same period of 2024.The report highlights a mixed but generally positive recovery across key sectors. Aggregate GDP in real terms stood at ₦57.03 trillion, up from ₦54.85 trillion in Q3 2024.

The Services sector remained the largest contributor to overall output at $53.02$ per cent, followed by Agriculture at $31.21$ per cent. Key growth drivers included crop production, telecommunications, real estate, trade, and financial services.

The non-oil sector continued to be the main engine of the economy, expanding by $3.91$ per cent. This strong performance outpaced both Q3 2024 ($3.79$ per cent) and Q2 2025 ($3.64$ per cent). Agriculture grew by $3.79$ per cent, driven predominantly by crop production.

The Information and Communication Technology (ICT) sector posted a particularly strong real growth of $5.78$ per cent, with its contribution to real GDP rising to $9.10$ per cent. Furthermore, Financial and Insurance Services recorded a significant real growth of $19.63$ per cent.

In contrast, real growth in the Manufacturing sector slowed to $1.25$ per cent, down from $1.74$ per cent in the previous quarter.

The oil sector posted a real growth of $5.84$ per cent, a marginal increase from $5.66$ per cent in Q3 2024. This growth was linked to an average crude oil production rise to $1.64$ million barrels per day (mbpd), up from $1.47$ mbpd a year earlier.

Despite this positive change in output, the sector’s contribution to real GDP remains modest at **$3.44$ per cent$.Statistician-General of the Federation, Prince Adeyemi Adeniran, noted that while most sectors sustained positive momentum, growth remains uneven.

Strong gains in ICT, finance, agriculture, and trade were crucial in stabilizing overall output. This data aligns with projections from the International Monetary Fund (IMF), which, in October 2025, revised Nigeria’s 2025 growth outlook upward to $3.9$ per cent, citing higher oil production, stronger investor confidence, and a supportive fiscal stance as key drivers.


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