By Aduragbemi Omiyale

The chief executive of Tiyasilk Integrated Farms, Mr Hakeem Adeniji, has backed the construction of a central logistic hub by Origin Tech Group for the storage of dry and cold food.

In a chat with CNN, he posited that having a more reliable stockpile not only helps local consumers but also the farmers who supply the food as well.

Origin Tech is constructing a state-of-the-art facility on a land covering about 220 hectares in Lagos with a storage capability for five million metric tons.

According to the principal architect on the project, Sola Ige, “What we are looking at here is to store a significant amount of food that will last Lagosians for 90 days, should a crisis in the mode of COVID-19 ever occur again.”

Ige stated that the hub would serve as a storing, processing, and distribution centre for all of Nigeria with the intention of expanding to serve the broader region.

“The potentials are huge, half a billion tons of food in the space. It’s not a joke. We are not thinking local really, we are thinking at least for the African continent, we can repeat this in several countries, and it will be like Africa ceases to be the hunger capital of the world, and we can start exporting food also to the rest of world.”

For Mr Adeniji, “The advent of the central logistic hub, which I have regarded as a game changer, is good for people like us who are in the poultry business, who also see it as a prospect for a greater expansion of our businesses because now that we know that there is access to market, there’s a place we can always take our eggs.

“Now, you have adequate return on your investment and when you continue to do that, that means you have business stability.”

The chairman of Origin Tech, Prince S. J. Samuel, said having a more reliable stockpile not only helps local consumers but also the farmers who supply the food as well.

“Looking across Africa, I think it is time for change. When looking at the food system, you wonder why we still imports a lot of things. It’s because you don’t have the market-led system. I’ve not seen a lot of it developed.

“I believe that this project needs to run across Africa very fast and we are privileged to be that company who is willing to help pilot that drive because it has to be localised to each and adapted to the farmer’s culture,” he in the latest episode of Connecting Africa on CNN.

The hosts of the show, Eleni Giokos and Victoria Rubadiri, explored the continent’s expanding logistics sector to see how major investments in ports, railways, and airlines could unlock Africa’s trade potential.

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange started the new week with an appreciation of 0.65 per cent on Monday, March 10.

The rise was driven by five price gainers during the session, with Okitipupa Plc further chalking up N29 to end at N327.00 per unit compared with the preceding day’s N298.00 per unit.

In addition, Nipco Plc gained N18.17 to close at N199.80 per share compared with last Friday’s N181.63 per share, FrieslandCampina Wamco Nigeria Plc jumped by 49 Kobo to N37.49 per unit from N37.00 per unit, AG Mortgage Bank Plc grew by 4 Kobo to 52 Kobo per share from 48 Kobo per share, and First Trust Microfinance Bank Plc expanded by 3 Kobo to 50 Kobo per unit from its previous rate of 47 Kobo per unit.

As a result of the gains recorded by the securities, the market capitalisation of the platform went up by N12.68 billion to settle at N1.959 trillion compared with the preceding session’s N1.946 trillion, and the NASD Unlisted Security Index (NSI) increased by 21.96 points to close at 3,392.35points, in contrast to the previous trading day’s 3,370.39 points.

Business Post reports that during the trading day, 11 Plc plunged by N13.00 to N240.00 per unit from N253.00 per unit, NASD Plc lost N1.63 to settle at N19.00 per share versus last Friday’s price of N20.63 per share, Geo-Fluids Plc declined by 23 Kobo to trade at N2.68 per unit versus N2.91 per unit, and Central Securities Clearing System (CSCS) Plc fell by 2 Kobo to quote at N23.02 per share compared with the preceding session’s N23.00 per share.

Yesterday, the volume of securities traded at the bourse rose by 53.9 per cent to 1.7 million units from the 1.3 million units achieved in the previous tarding day, the value of securities went up by 26.8 per cent to N27.8 million from N21.9 million, and the number number of deals increased by 157.1 per cent to 36 deals from 14 deals.

Impresit Bakolori Plc was the most active stock by value (year-to-date) with 533.9 million units worth N520.9 million, followed by FrieslandCampina Wamco Nigeria Plc with 11.9 million units valued at N461.4 million, and Afriland Properties Plc with 17.2 million units valued at N352.7 million.

Also, Impresit Bakolori Plc was the most active stock by volume (year-to-date) with 533.9 million units worth N520.9 million followed by Industrial and General Insurance (IGI) Plc with 69.9 million units worth N23.7 million and trailed by Afriland Properties Plc with 17.2 million units valued at N352.7 million.

By Dipo Olowookere

President Bola Tinubu has claimed that the economic reforms his administration undertook when he assumed office on May 29, 2025, have helped to keep the exchange rate of the Naira to Dollar stable at the foreign exchange (FX) market.

Speaking on Monday when he inaugurated the Planning Committee for the National Youth Conference at the State House in Abuja, the President expressed confidence that some professionals, who left Nigeria due to economic crisis, would begin to return as a result of improvement in the country’s economy.

He said the ongoing reforms are to the benefit of the youth, who he described as the future of Nigeria, charging them to be free to tell the truth to him.

“I want to reassure you that you are the hope of this country, and everything hangs on you. Every decision that I have taken is about you. It’s about the future.

“When we removed the fuel subsidy, it was because we wanted to protect your future. We have cleared the path for you to have a great future,” President Tinubu said.

“When you listen to most professionals leaving Nigeria, there’s a cause. If you grow prosperity back home and empower people, they will not bother leaving. They will stay home,” Mr Tinubu was quoted as saying in a statement issued by his spokesman, Mr Bayo Onanuga, on Monday.

“This is your opportunity to develop the nation and make it prosperous. The government of today is all about you. You can be critical of politicians and abuse them all the way you can, but politics is about development and the future of generations. You are the heartbeat of our nation, and I hope you take this responsibility seriously.

“I am glad you are here as a committee to inspire today, tomorrow and hereafter. I am with you,” President Tinubu told the 44-member planning committee.

He noted that the economic reforms had repositioned the economy for greater prosperity and empowerment. Most indicators showed a steady fall in the prices of goods, especially foodstuffs, and a stabilisation of the exchange rate.

“When we started, it looked so foggy, dicey and hopeless. We worked hard, and it was like drawing water out of a dry well.

“But today, the economy has turned the corner; prices are falling, confidence in our economy is improving, investors are looking this way, and technology is advancing.

“You have a great opportunity, and I am ready to listen to you. I have heard your spokesperson’s remarks. You have a great chance of advancing the development of this country. It is all in your hands.

“My position is to help navigate, push, and lift the heavy weight of problems so that I can clear the way for you. You have a great future before you, which is in your hands.

“Just look me in the face and tell me whatever you think is wrong and the way forward. Be frank. We will implement your suggestions so long as they are for the country’s prosperity,” he stated.

The Minister of Youth Development, Mr Ayodele Olawande, who was at the event, thanked the President for giving the youth a voice and assured that the committee represented various stakeholders fairly.

“We want to thank you for the futuristic ideas; more than 260,000 students have already benefited from the administration’s student loan schemes.

“We appreciate the renovation of the Third Mainland Bridge for us to use and clearing the passport backlog,” the Minister stated.

A member of the committee, Mr Samson Itodo, said the President’s convening of the conference will be a major milestone in involving youths in the country’s development, listing some of the areas of priority as political governance, economic transformation, skills for the future, such as Artificial Intelligence, climate change and energy transition, and social cohesion and security.

He said the framework will include virtual consultations, calls for memoranda, regional town hall meetings and the Abuja conference.