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NGX Group Gets Funding Support for N-Zero Programme in Nigeria

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N-Zero Programme

By Aduragbemi Omiyale

The Nigerian Exchange (NGX) Group has kicked off the NGX Net-Zero Programme (N-Zero) designed to support businesses with the tools, frameworks, and technical guidance required to set, validate, and achieve science-based emission reduction targets.

This initiative aligns with Nigeria’s commitment to the Paris Agreement and the global goal of limiting temperature rise to 1.5°C.

The parent body of the nation’s flagship stock exchange, the NGX Limited, implemented this campaign after securing a funding support from DEG Impulse gGmbH, a subsidiary of the German Development Finance Institution, DEG – Deutsche Investitions-und Entwicklungsgesellschaft mbH, part of KfW Bankengruppe.

It is a major step forward in NGX Group’s efforts to strengthen climate resilience and promote low-carbon development across Nigeria’s private sector. The multi-billion-naira funding was secured under DEG Impulse’s develoPPP programme, which supports innovative private sector initiatives with high development impact.

By bringing together global climate partners, including implementing partner Africa Foresight Group (AFG), NGX Group, through N-Zero, will assist companies in developing credible transition plans and carbon projects that generate verifiable carbon credits, thereby supporting economic resilience, promoting green investments, and contributing to a decarbonized future.

Business Post gathered that the NGX N-Zero Programme will run from June 2025 to April 2027 and is expected to reduce or avoid 20,000 tons of greenhouse gas emissions.

It will support at least 26 businesses in implementing environmental and social standards and provide access to carbon markets through credit registration and emissions offsetting.

This collaboration underscores NGX Group’s commitment to the United Nations Sustainable Development Goal 13 (Climate Action) and its role in advancing Nigeria’s transition to a more sustainable and inclusive economy.

“The signing of this agreement with DEG Impulse marks a significant milestone in our sustainability journey. This partnership demonstrates strong confidence in our vision to drive sustainable finance, build a climate-conscious private sector in Nigeria and champion climate action across Africa.

“Through N-Zero, we aim to translate ambition into measurable impact by reducing emissions and positioning Nigerian corporates to benefit from emerging opportunities in the global carbon market,” the chief executive of NGX Group, Mr Temi Popoola, stated.

Also, the chairman of the organisation, Mr Umaru Kwairanga, said, “This initiative represents a bold step toward positioning NGX Group at the forefront of climate leadership in Africa.

“As we activate the N-Zero Programme, we reaffirm our long-standing commitment to innovation, sustainable development, and creating long-term value for the Nigerian economy. It is our firm belief that capital markets must play a central role in delivering climate solutions, and this partnership is a model for what is possible when global institutions collaborate with local expertise.”

On his part, the Managing Director of DEG Impulse, Mr Hubertus Pleister, said, “With the support of the German Federal Ministry of Economic Cooperation and Development (BMZ), the develoPPP initiative contributes to NGX’ transformation journey by addressing climate risks and advancing sustainability through strategic and innovative collaboration – reinforcing our shared commitment to building resilient capital markets and enabling long-term impact.”

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Court Affirms FCCPC Authority to Investigate Consumer Complaints

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FCCPC

By Adedapo Adesanya

The Federal High Court in Abuja has affirmed the powers of the Federal Competition and Consumer Protection Commission (FCCPC) to receive complaints, assess matters brought before it, and take appropriate lawful steps, including investigation where necessary.

In a judgment delivered on Monday by Justice James Omotosho, he dismissed the suit filed by Air Peace Limited challenging the commission’s authority to investigate consumer complaints and issue summons in the exercise of its statutory mandate.

Justice Omotosho affirmed the organisation’s powers under the Federal Competition and Consumer Protection Act, 2018 (FCCPA) to receive complaints, assess matters brought before it, and take appropriate lawful steps, including investigation where necessary.

Welcoming the decision, the chief executive of the FCCPC, Mr Tunji Bello, said the judgment provided useful clarity on the importance of regulatory oversight in protecting consumers and promoting fair market practices.

He noted that the matter arose from complaints relating to unrefunded ticket fares, cancelled flights, and other service concerns affecting passengers.

Mr Bello reiterated that consumers, who pay for services, were entitled to fair treatment, transparency, and redress in accordance with applicable law.

He further described investigation as an administrative process intended to establish facts and determine whether further action is warranted. It does not amount to a finding of liability or wrongdoing.

According to him, the commission is committed to engaging all market participants in a fair, professional, and transparent manner, while ensuring due process at every stage of its proceedings.

He encouraged businesses operating in Nigeria to cooperate with lawful regulatory processes and to maintain effective complaint resolution systems that address consumer issues promptly and fairly.

The FCCPC will continue to act within its statutory mandate to protect consumers, promote competitive markets, and strengthen confidence in essential service sectors, including aviation.

The Federal Competition and Consumer Protection Commission is Nigeria’s primary competition and consumer protection authority established under the Federal Competition and Consumer Protection Act, 2018.

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2025 Coup Scare: FG Files Charges Against Suspects

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october 2025 coup scare

By Adedapo Adesanya

The federal government has filed a 13-count charge before the Federal High Court, Abuja, against alleged plotters of a coup against President Bola Tinubu.

Among the suspects are a retired major general, a retired naval captain, a serving police inspector, and three others.

Recall that in January, the Nigerian armed forces confirmed that some of its personnel actually attempted to overthrow the government of President Tinubu in October 2025.

This followed speculations that the October 1 parade last year was abruptly cancelled due to an alleged attempt to remove Mr Tinubu from office by some members of the Armed Forces of Nigeria (AFN), with 16 persons arrested over the issue.

At the time, the Defence Headquarters said investigations had “identified a number of officers with allegations of plotting to overthrow the government” and would be “formally arraigned before an appropriate military judicial panel to face trial.”

“The comprehensive investigation process, conducted in accordance with established military procedures, has carefully examined all circumstances surrounding the conduct of the affected personnel. The findings have identified a number of officers with allegations of plotting to overthrow the government, which is inconsistent with the ethics, values and professional standards required of members of the AFN.

“Accordingly, those with cases to answer will be formally arraigned before an appropriate military judicial panel to face trial in accordance with the Armed Forces Act and other applicable service regulations. This ensures accountability while upholding the principles of fairness and due process.

“The AFN reiterates that measures being taken are purely disciplinary and part of ongoing institutional mechanisms to preserve order, discipline and operational effectiveness within the ranks. The Armed Forces remain resolute in maintaining the highest standards of professionalism, loyalty and respect for constitutional authority,” the statement read in parts.

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Olam Agri Launches $50m Agro-Processing Facility in Kwara

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Olam Agri food commodities

By Adedapo Adesanya

Olam Agri, a leading global agribusiness firm, has opened a $50 million state-of-the-art soybean crushing plant and feed milling facility in Ilorin, Kwara State, marking a significant boost to the nation’s agricultural processing capabilities.

This integrated facility, the largest of its kind in sub-Saharan Africa, boasts an annual processing capacity of 250,000 to 350,000 metric tonnes of soybeans, addressing Nigeria’s rising demand for high-quality animal feed and edible oils.

The plant, recently opened, will primarily source soybeans from local farmers, strengthening the domestic supply chain and reducing reliance on imports.

It directly supports Olam Agri’s subsidiary, Ruyat Oil, while supplying raw materials to the adjacent feed mill, which produces poultry and aquaculture feeds.

Olam Agri’s feed milling unit and its edible oil subsidiary, Ruyat Oil, specialise in processing and refining various vegetable oils for the Nigerian market.

This expansion builds on Olam’s existing operations in Kwara and Kaduna States, where it already runs major poultry feed mills and Africa’s first aqua feed plant in the region.

Alongside the plant’s commissioning, Olam Agri unveiled a new consumer product, Mama’s Pride Soya Oil, a refined, cholesterol-free cooking oil aimed at Nigerian households.

Speaking at the event, the company’s Africa Head of Edible Oil Processing, Mr Saurabh Kumar, described the product as a developed innovation tailored for Nigerian kitchens and homes, expressing confidence that it will redefine market standards.

“Mama’s Pride Soya Oil is proudly produced in Nigeria for Nigerians. It is thoughtfully developed as a product consumers can trust for their everyday cooking,” he said.

The company’s Head of Marketing, Mr Bola Adeniji, emphasised the importance of promoting authentic and healthy edible oil options in Nigeria, noting that Mama’s Pride Soya Oil offers quality, safety, and nutrition, and called on trade partners to help eliminate adulterated products from the market.

The new edible oil product is available nationwide in multiple packaging formats, including PET bottles, pouches, and bulk containers, enabling broad market penetration across different income segments.

Olam Agri, which specialises in food, feed and fibre, is committed to a fully integrated approach working closely with farmers through structured support systems, improving yields, and producing and processing locally.

This captures the agribusiness’s focus on fostering positive economic impact through improved value chain productivity, a nutritional landscape, human capital development, and job creation in Nigeria.

On his part, Mr  Anil Nair, Country Head and Managing Director of Olam Agri Nigeria, affirmed that the business will continue to invest in developing key value chains, food safety, and supporting Nigeria’s economic growth in line with the government’s Renewed Hope Agenda.

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