Economy
10 Osun Artisans Receive N3m Grant from Goldberg’s Isedowo
By Modupe Gbadeyanka
No fewer than 10 artisans in Osun State have been rewarded with N3 million grant to boost their businesses.
The funding package was given to the entrepreneurs by Goldberg lager beer, Nigeria’s leading culture-centric beer brand, through its Isedowo youth empowerment initiative in the Southwest region of Nigeria.
The initiative, which is aimed at supporting young Yoruba men and women to grow their businesses, was launched at the palace of the revered monarch, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II last week Thursday in Ile-Ife, Osun State.
The 10 artisans from different skilled crafts were empowered with N300,000 each to support their businesses.
The beneficiaries included Adeola Olajide, Akanbi Musibau, Lateef Muibi, Ojudale Akinola and Oluwanifemi Abiodun. Others were Makinde Tolulope, Owojori Temitayo, Akinyanran Oluwaseun, Adetola Agbeniyi and Jaiyeoba Olufemi.
An elated Olufemi, who specialises in clutch and brake reconditioning in all types of motor vehicles, expressed joy at the occasion and commended the brand for having the plight of Yoruba youth in its agenda.
“It is a day of joy for me and I am grateful to Goldberg for deeming it fit to uplift Yoruba youth with Isedowo,” he said.
He noted that his grant will be channelled into his business to boost efficiency.
Agbeniyi, a cobbler from Ilesa, Osun State, who resides and works in Ile-Ife, said that Isedowo had empowered her with the resources to expand her business from a production angle.
“With my ₦300,000 business grant, I intend to buy more materials to increase my output. Before now, I have been producing smaller quantities of shoes which do not meet the demands of my clients. But with this grant, I will be able to acquire more materials to boost my output and ensure that supply meets demand,” she said.
She commended Nigerian Breweries for the partnership with artisans through Isedowo and promised to utilise her grant judiciously.
Other beneficiaries included artisans who are skilled in panel beating, fashion designing, catering, decorating and repairing of mobile phones. They expressed their excitement and commended Goldberg for the initiative which they said would put a smile in the faces of young Yoruba business men and women in the Southwest region.
Emmanuel Agu, Portfolio Manager, Mainstream Lager and Stout brands, Nigerian Breweries Plc, said that, in addition to Goldberg’s commitment to culture and tradition of the Yoruba people, it would use Isedowo to inspire entrepreneurship in the region thus impacting on employment and income generation.
“Through Isedowo, Goldberg will extend its links with the Southwest beyond culture and tradition to the entrepreneurial passion of the people,” he said.
Commenting on the modalities of the scheme, Agu said: “Interested participants who wish to benefit from the initiative are required to showcase their business ideas and how they impact the society at any of the Isedowo centres across the Southwest region.
“There will be screening of these participants and their business ideas after which the top 100 participants will be rewarded with a grant of N300,000 each to the tune of N30 million for all successful artisans in the region.”
The first five artisans were rewarded at the unveiling of the campaign at the Ooni’s palace, while the last five were rewarded during the concert in the evening where artistes like Taiye Currency and Leye Williams entertained the crowd.
The train moves to Ekiti State on September 13 to begin registration and collation of business proposals submitted by interested artisans in the state. Then there will be screening and selection of artisans who will undergo a live audition and reward on September 22 in Ado-Ekiti.
Goldberg is known across the Southwest region as a leading supporter of culture and tradition and through Isedowo, it has deepened its connections with the people by supporting their economic aspirations.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc kept the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.04 per cent on Friday, July 16.
The securities depository company added N2.50 to its share price to settle at N95.14 per unit from the preceding session’s N92.64 per unit.
However, FrieslandCampina Wamco Nigeria Plc slid during the session by N5.85 to N141.81 per share from N147.66 per share.
But when the bourse closed for the day, the market capitalisation increased by N1.08 billion to N2.593 trillion from N2.592 trillion, while the NASD Security Index (NSI) appreciated by 1.80 points to 4,320.67 points from 4,318.87 points.
During the session, the value of securities slid by 38.9 per cent to N63.5 million from N104.1 million, the volume of securities went down by 34.5 per cent to 1.2 million units from 4.8 million units, and the number of deals declined by 15.4 per cent to 33 deals from 39 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 75.4 million units traded for N5.3 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
