News
How Tech Can Tackle Food Security Challenges in Nigeria

By Diana Tenebe, Chief Operating Officer, FoodStuff Store
Nigeria’s agricultural sector has long been a significant contributor to national growth, with the potential to further reduce poverty. This sector, encompassing crop production, livestock, forestry, and fishing, has the potential to hold export opportunities and can strategically become the engine for economic prosperity, given Nigeria’s large population.
Undoubtedly, agriculture remains a top contributor to Nigeria’s GDP. Statistics show it contributed around 23.69% in 2022, ranking behind the industry (30.78%) and services (22.04%) sectors. However, the sector’s contribution has declined.
In the first quarter of 2023, it fell to 19.63%, compared to 21.09% in the same period of 2022 and even lower than the 24.90% of Q4 2022. On sectoral contribution to the GDP, the agriculture sector declined to 25.18% in 2023 from 25.58% in 2022.
In recent times, the agricultural sector in Nigeria has faced challenges that would require urgent need for strategic interventions to address the many-sided issues. 2023 revealed a historic decline in Nigeria’s agricultural output, from the removal of fuel subsidies that increased the cost in logistics and production expenses to insecurity that has forced farmers to stay away from their farms, climate change, the redesign of the Naira, inadequate storage infrastructure, insecurity led to the country’s food inflation that surged to 35.41% in January 2024.
While a holistic approach is needed to tackle the problems facing the agricultural sector in Nigeria, the adoption of technology and innovation can prove to be a powerful tool in tackling the food insecurity in Nigeria and ensuring the citizens have access to the nutritious food that they need especially from smallholder farmers.
Digital marketplaces are tech solutions that can bridge the food security challenges in Nigeria. Smallholder farmers often have limited access to markets, struggling to connect with buyers, leading to post-harvest losses and reduced income. They lack efficient distribution networks and constantly work with distribution systems that can be complex and prone to waste. Additionally, farmers lack critical information on market prices, weather conditions and best practices.
Digital marketplaces have the potential to revolutionise the Nigerian food system and address food security challenges by connecting farmers directly with consumers and businesses, reducing reliance on middlemen and increasing profit margins for farmers. Logistics can be streamlined by connecting farmers with transportation and storage providers, minimising waste and ensuring timely delivery. Additionally, there is an opportunity for enhanced transparency between farmers and consumers especially with respect to pricing, reducing exploitation and promoting fairer pricing. Market trends are also easily available through digital marketplace platforms to make farmers make informed decisions.
Nigerian Agritech companies and start-ups are dedicated to helping farmers achieve maximum crop yield through their work. Foodstuff Store exemplifies this commitment, utilising technology to connect customers and businesses with raw and processed food products directly from smallholder farmers and whole food suppliers at affordable prices, adding value to the food supply chain.
Despite the potential, challenges remain. Limited internet access, digital literacy, inadequate infrastructure hindering deliveries, online security concerns, and trust issues for both farmers and consumers need to be addressed.
Investment in rural infrastructure, digital literacy programs, public-private partnerships to promote digital agriculture, and access to financial services like mobile money can create a more efficient, inclusive, and resilient food system. A tech-driven agricultural sector has the potential to not only eradicate hunger but also empower farmers, create jobs, and propel Nigeria towards a food-secure future.
News
Aliko Dangote Signs out @ Dangote Sugar Refinery as Chairman

In a major leadership transition, Dangote Sugar Refinery Plc (DSR) has announced the retirement of Aliko Dangote, its founder and chairman, from the Board, effective June 16, 2025.

Aliko Dangote
The announcement was made in a regulatory filing with the Nigerian Exchange Ltd on June 11, highlighting the company’s commitment to sound corporate governance and structured succession planning.
In a statement signed by Mrs. Temitope Hassan (FCIS), company secretary and legal adviser, the Board praised Dangote’s extraordinary leadership and lasting contributions to the company.
“Alhaji Aliko Dangote is one of the founding Directors of the Company and has served with exceptional leadership, integrity, and vision since 2005,” the statement read.
“Under his stewardship, Dangote Sugar Refinery transformed significantly, navigated industry changes, consistently delivered value to shareholders, and upheld strong governance principles.”
Widely regarded as Africa’s most influential industrialist, Dangote led DSR’s evolution into a dominant player in Nigeria’s sugar value chain.
His strategic initiatives, particularly the Backward Integration Projects (BIPs) across Adamawa, Taraba, and Nasarawa States, advanced the company’s self-sufficiency goals and aligned with the federal government’s national sugar master plan.
While stepping down from DSR, Dangote will continue as President of Dangote Industries Limited.
His legacy at DSR is marked by industrial innovation, strategic foresight, and sustained operational excellence.
To ensure a seamless transition, the Board has appointed Mr. Arnold Ekpe, a seasoned independent non-executive director, as the new chairman, effective June 16.
Ekpe is renowned for his tenure as Group CEO of Ecobank Transnational Incorporated, where he championed pan-African financial inclusion and institutional growth.
His extensive experience in banking and corporate governance is expected to strengthen DSR’s next phase of development.
The leadership change signals continuity of vision, with DSR reaffirming its focus on operational efficiency and long-term value creation in a dynamic market.
For shareholders and industry observers, Dangote’s exit from the Board marks the end of a transformational era—one defined by bold ambition and strategic execution—while opening a new chapter under Ekpe’s leadership.
News
Report Reveals New Malware Posing as an AI Assistant Steals User Data

Kaspersky Global Research & Analysis Team researchers have discovered a new malicious campaign which is distributing a Trojan through a fake DeepSeek-R1 Large Language Model (LLM) app for PCs.
The previously unknown malware is delivered via a phishing site pretending to be the official DeepSeek homepage that is promoted via Google Ads.
The goal of the attacks is to install BrowserVenom, a malware that configures web browsers on the victim’s device to channel web traffic through the attackers servers, thus allowing to collect user data – credentials and other sensitive information. Multiple infections have been detected in Brazil, Cuba, Mexico, India, Nepal, South Africa and Egypt.
DeepSeek-R1 is one of the most popular LLMs right now, and Kaspersky has previously reported attacks with malware mimicking it to attract victims. DeepSeek can also be run offline on PCs using tools like Ollama or LM Studio, and attackers used this in their campaign.
Users were directed to a phishing site mimicking the address of the original DeepSeek platform via Google Ads, with the link showing up in the ad when a user searched for “deepseek r1”.
Once the user reached the fake DeepSeek site, a check was performed to identify the victim’s operating system. If it was Windows, the user was presented with a button to download the tools for working with the LLM offline. Other operating systems were not targeted at the time of research.
After clicking on the button and passing the CAPTCHA test, a malicious installer file was downloaded and the user was presented with options to download and install Ollama or LM Studio.
If either option was chosen, along with legitimate Ollama or LM Studio installers, malware got installed in the system bypassing Windows Defender’s protection with a special algorithm.
This procedure also required administrator privileges for the user profile on Windows; if the user profile on Windows did not have these privileges, the infection would not take place.
After the malware was installed, it configured all web browsers in the system to forcefully use a proxy controlled by the attackers, enabling them to spy on sensitive browsing data and monitor the victim’s browsing activity.
Because of its enforcing nature and malicious intent, Kaspersky researchers have dubbed this malware BrowserVenom.
“While running large language models offline offers privacy benefits and reduces reliance on cloud services, it can also come with substantial risks if proper precautions aren’t taken.
Cybercriminals are increasingly exploiting the popularity of open-source AI tools by distributing malicious packages and fake installers that can covertly install keyloggers, cryptominers, or infostealers.
These fake tools compromise a user’s sensitive data and pose a threat, particularly when users have downloaded them from unverified sources,” comments Lisandro Ubiedo, Security Researcher with Kaspersky’s Global Research & Analysis Team.
News
World Bank Maintains Nigeria’s Growth at 3.6% Amid Trade Tension

The World Bank has retained Nigeria’s annual growth at 3.6 percent in 2025 despite heightened trade tension and uncertainty that has dragged the global economy’s GDP to its worst levels in decades.
The Washington-based lender sees Africa’s most populous nation’s GDP improving by 0.2 percent this year up from 3.4 percent recorded in 2024 with services sector being the major growth driver.
“Growth in Nigeria is forecast to strengthen to 3.6 percent in 2025 and to an average of 3.8 percent in 2026-27,” the development lender said in a report released Tuesday.
“Services activity will continue to be the main driver of growth, while the industrial sector will remain constrained by subdued crude oil production as last year’s slight rebound wanes.”
Nigeria saw its fastest growth in at least a decade last year, primarily driven by financial and telecommunication services, a recovery in the transportation sector, and a slight rebound in oil production.
That momentum is expected to continue this year amid global headwinds and escalating trade tension that cut World’s growth from 2.7 percent to 2.3 percent.
Nigeria’s macroeconomic indicators have been mildly affected by the trade faceoffs triggered by President Donald Trump’s reciprocal tariffs that have shocked economies and shifted dynamics of the global markets.
While Africa’s biggest oil producer suffered a declining oil prices that saw the naira fall slightly in the past months, the local currency is gaining and so is inflation easing, thanks to reforms that have put the country in a better position to weather global shocks.
According to the World Bank, the country’s bold reforms, including floating of the naira and scrapping fuel subsidy, has strengthened Nigeria’s fiscal position and led to a surge in revenues at the state level, and higher remittances from government-owned enterprises.
“Domestic reforms have helped spur investment, supporting growth in the services sector, especially in financial services and information and communication technology,” the World Bank said.
The multilateral lender sees inflation declining “gradually” this year as the monetary authorities continue to remain hawkish in a bid to rein in rising prices and ensure the naira remains at its fair value.
In response to high inflation, the central bank raised its policy rate six times last year. Although inflation has cooled somewhat in recent months, it remains elevated relative to the central bank target and pre-pandemic trends.
But the CBN continues to monitor the trends and has remained committed to its core mandate of price control.
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