Economy
Africa Needs Young Agropreneurs to Tackle Food Security—AfDB
By Dipo Olowookere
The need for African leaders to engage youths in agriculture and make them see the sector as a profitable business venture and not a sign of lacking ambition has been emphasised by the President of the African Development Bank (AfDB), Mr Akinwumi Adesina.
According to this, apart from tackling food security in the continent through this, it would also stem migration of African youths to Europe and the United States of America (USA) in search of greener pastures.
AfDB, while commenting on the occasion of the 2017 World Food Day, highlighted how Africa’s food security depends on attracting young people to agriculture and agribusiness, pointing out that the sector can potentially create wealth and employment for African youth, thereby stemming migration.
World Food Day, celebrated yearly on October 16, promotes worldwide awareness and action for those who suffer from hunger and the need to ensure food security and nutritious diets for all. This year’s theme focuses on the need to ‘Change the future of migration; Invest in food security and rural development’.
The AfDB’s ENABLE Youth program, which grooming a crop of young agriculturists, is on course to make this happen.
Mahmud Johnson, 26, is the Founder of J-Palm Liberia which works to improve income for Liberia’s smallholder oil palm farmers by 50-80%. He is also creating additional jobs for over 1,000 young people to work as sales representatives for his products.
“Despite the tremendous odds, we (African youth) are determined to maximize our abundant agricultural resources to create wealth, jobs, and socioeconomic opportunities in our countries and across the continent. We need our stakeholders to view us as serious partners in Africa’s transformation, and to work with us to expand our enterprises,” Mahmud said.
Mahmud and some of his employees have benefited from capacity building programs under the AfDB’s Empowering Novel Agri-Business-Led Employment for Youth initiative.
Like Mahmud, many African youth are passionate about staying back on the continent to create wealth and employment, if given the tools and opportunities to put their skills to use. Under the ENABLE Youth program, the Bank is working with the International Institute for Tropical Agriculture (IITA) to develop a new generation of young commercial farmers and agribusiness entrepreneurs.
“Our goal is to develop 10,000 such young agricultural entrepreneurs per country in the next 10 years. In 2016, the Bank provided $700 million to support this program in eight countries and we’ve got requests now from 33 countries,” said Adesina.
The Bank considers investment in agriculture as key to making Africa youths prosperous, thereby stemming the tide of migration.
This goal, and theme of 2017 World Food Day, are well aligned with two of the AfDB’s High 5 development priorities – Feed Africa and Improve the quality of life for the people of Africa– said Jennifer Blanke, Vice-President, Agriculture, Human and Social Development at the AfDB.
“A thriving business sector in Africa will provide the jobs and returns that will attract and retain Africa’s best talent on the continent, while improving the quality of life of all Africans,” she said.
With more than 70% of Africans depending on agriculture for their livelihoods, it is imperative for the sector’s full potential to be unlocked, and by doing so help to vastly improve the lives Africans.
Accordingly, one of the goals of Feed Africa is to eliminate hunger and malnutrition by 2025.
Due to the finite nature of mineral resources such as gold, diamonds, crude oil, among others, African countries must diversify their economies. This cannot be done without a significant emphasis on agriculture given that the great majority of Africans depend on it for their livelihoods.
Increased food demand and changing consumption habits driven by demographic factors such as urbanization (internal migration) are leading to rapidly rising net food imports, which will grow from $35 billion in 2015 to over $110 billion by 2025 if trends are left unchecked.
Given that African smallholder farmers are on average about 60 years old, Africa’s food security depends on attracting young people into agriculture and agribusiness and empowering them. Governments can support these shifts through the right enabling environments via policy reforms for increased private investment in agriculture and agribusiness. And also by better articulating the importance of agriculture for their economies in their interaction with the public.
“Food security and rural development are closely interlinked with issues of migration, fragility and resilience. The Horn of Africa and the Sahel provide compelling examples of how global factors such as food insecurity, radical extremism and migration reinforce state fragility and have devastating effects on development,” said Khaled Sherif, AfDB Vice-President for Regional Development, Integration and Business Delivery.
“The lack of economic opportunities, infrastructure, employment opportunities and unpredictable climactic changes in these countries are key sources of fragility that often times result in the forced migration of peoples seeking a desperate alternative. The Bank has, where appropriate, adopted risk-based approaches at both country and regional levels in addressing fragility.”
Ahead of the World Food Day, the AfDB joined Côte d’Ivoire’s Minister of Agriculture and Rural Development and other developing partners on October 14 in a day-long set of activities to promote agriculture as a business. They emphasized the need for governments to invest in agriculture to create jobs and stem the flow of migration that has undermined the security and economies of African countries.
By Aduragbemi Omiyale
Barring any last-minute changes, the 50th Annual General Meeting (AGM) of Champion Breweries Plc will take place on Thursday, May 21, 2026, at the Oriental Hotel, Victoria Island, Lagos, at 11:00 am.
At the yearly shareholders’ gathering, some of the key statutory and governance matters to be considered will include the Audited Financial Statements for the year ended December 31, 2025, alongside the Reports of the Directors, Auditors, and the Audit Committee.
Other agenda items are the declaration of dividends, election and re-election of Directors, authorisation for Directors to determine the remuneration of the Auditors, and election/re-election of shareholders’ representatives to the Audit Committee.
In line with its commitment to transparency, accountability, and shareholder engagement, the AGM will be held physically while also being accessible to stakeholders via the company’s official website: www.championbreweries.com.
This year’s AGM comes at a defining moment in the organisation’s corporate journey, following a transformative year marked by strategic expansion initiatives, including the acquisition of Bullet Energy Drink and its successful engagement with the capital market to raise growth capital.
These developments reinforce Champion Breweries Plc’s commitment to strengthening its competitive positioning, expanding its portfolio, and delivering long-term shareholder value.
The brewer has strengthened its transition into a group structure with the acquisition of an 80 per cent stake in enJOYbev B.V., a strategic move already delivering early earnings contribution and validating its international expansion drive.
The subsidiary’s results are now being consolidated into the Group accounts for the first time, with enJOYbev B.V. already contributing positively to earnings through operating profitability within the reporting period, an early validation of the group’s expansion strategy.
“This AGM reflects a defining chapter in our journey as a Company. The acquisition of Bullet, our successful capital market engagement, and the integration of enJOYbev B.V. into our group structure all signal a deliberate strategy for sustainable growth and diversification.
“These milestones position Champion Breweries Plc for stronger performance, broader market reach, and enhanced shareholder value. We remain committed to disciplined execution, operational excellence, and the highest standards of corporate governance,” the chairman of Champion Breweries, Mr Imo Abasi Jacob, said.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled a unified Taxpayer Identification (Tax ID) system for all taxable persons across the country as part of efforts to strengthen tax administration and improve transparency.
The agency announced the development in a public notice issued jointly with the Joint Revenue Board (JRB) on Monday.
According to the notice, the initiative is backed by Sections 6, 7, and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a Tax ID, in a wider move to expand the country’s tax base.
The NRS said the new framework is designed to create a centralised and harmonised taxpayer database that would enhance interactions between taxpayers and revenue authorities at both federal and sub-national levels.
“The Tax ID will serve as a single, unified identity for all taxpayers, enabling seamless interaction with tax authorities at both federal and sub-national levels. It is designed to consolidate taxpayer records, eliminate duplication, and ensure more efficient management of tax-related information,” the agency stated.
The revenue agency explained that the new system would simplify tax compliance procedures, including taxpayer registration, filing of returns, and payment processes.
According to the NRS, the framework is also expected to improve accountability and reduce leakages in tax collection by creating better visibility and tracking of taxpayer information nationwide.
“The initiative will simplify tax compliance processes, including registration, tax filing, and payment procedures. The system will improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection. The framework will also harmonise taxpayer information across all levels of government,” the notice added.
The agency further disclosed that the new Tax ID system would replace the existing Tax Identification Number (TIN) Validation API currently used by Ministries, Departments and Agencies (MDAs), financial institutions, and other organisations for taxpayer verification.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 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 worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.
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