By Aduragbemi Omiyale

To strengthen its integrated agribusiness platform, Ellah Lakes Plc has acquired the first set of expellers and presses for its Palm Kernel Oil (PKO) mill.

The company also plans to proceed with the installation of its abattoir and cold chain facility to support its longer-term strategy of scaling its piggery operations, improving processing capacity and enhancing market access for livestock products.

At the moment, Ellah Lakes has surpassed 1,000 pigs on its farm, reflecting continued progress in the scaling of its livestock operations, positioning the organisation as one of the leading piggery operators in Edo State and reinforcing livestock as an important vertical within its integrated agribusiness model, which supports revenue diversification and near-to-medium-term cash flow generation as the firm’s plantation assets continue to mature.

In a statement, the leading indigenous agribusiness organisation disclosed that the installation of the expellers and presses for its PKO mill should be completed by the end of Q3 2026, ahead of the commencement of the production of Palm Kernel Oil and Palm Kernel Cake (PKC).

It was noted that the addition of PKO and PKC production will enable Ellah Lakes to capture further value from its oil palm operations, expand its product base and deepen its participation across the agricultural value chain.

“These milestones reflect the continued execution of our strategy to build Ellah Lakes into a more integrated and commercially resilient agribusiness platform.

“The acquisition of equipment for our PKO Mill advances our move into higher-value processing, while the growth of our piggery operations strengthens an important cash-generating vertical within our business model,” the chief executive of Ellah Lakes, Mr Chuka Mordi, stated.

“As our plantation assets continue to mature, we are focused on expanding operating verticals that broaden our revenue base, improve value capture and support more consistent cash flow.

“Our priority is to complete key installations, scale production efficiently and build the infrastructure required to support sustainable long-term growth,” Mr Mordi added.

By Adedapo Adesanya

The Manufacturers of Nigeria (MAN) has warned that manufacturers are facing a disparity in access to structured credit, which is affecting the sector’s productivity.

In his analysis, the Director General of MAN, Mr Segun Ajayi-Kadir, explained that commercial bank credit to manufacturers declined by N1.92 trillion between December 2024 and December 2025 to N6.61 trillion from N8.53 trillion.

The figure, he said, represents a year-on-year contraction of 22.5 per cent, placing manufacturing among the sectors with the highest decline in credit access.

Mr Ajayi-Kadir said the development was troubling at a time when Nigeria requires increased investment in productive sectors to strengthen local production, reduce import dependence and create employment opportunities.

“Declining access to affordable finance is threatening factory expansion, employment and economic diversification, and government and regulators need to urgently reform industrial financing,” he said.

He noted that while manufacturing credit suffered a major decline, other sectors such as oil and gas and financial services continued to attract higher levels of bank financing, raising concerns about the allocation of capital towards productive activities.

The MAN DG blamed the worsening situation on a combination of high borrowing costs, restrictive monetary conditions, commercial banks’ risk-averse lending approach and delays in implementing targeted industrial support programmes.

He highlighted high interest rates as one of the biggest obstacles confronting businesses, noting that borrowing costs remain too expensive for long-term investments in factories, machinery upgrades and production expansion.

MAN stated that with lending rates reportedly above 30 per cent in many cases, manufacturers are finding it increasingly difficult to finance operations, maintain competitiveness and expand capacity.

The association also identified the high Cash Reserve Requirement (CRR) maintained by the Central Bank of Nigeria as another factor limiting the amount of funds available for lending to businesses.

According to MAN, commercial banks have become more cautious in extending credit because they bear the risks associated with intervention funds, leaving manufacturers unable to meet collateral and equity requirements demanded by lenders.

The association also cautioned that weakening domestic production could deepen inflationary pressures by increasing dependence on imported goods and putting additional pressure on foreign exchange reserves.

To reverse the trend, the MAN boss called for urgent measures, including the introduction of government-backed credit guarantees for small and medium-scale manufacturers.

Mr Ajayi-Kadir also urged the government to ensure the immediate implementation of the Manufacturing Stabilisation Fund and create a more direct financing structure capable of delivering single-digit interest loans to genuine manufacturers.

He said Nigeria’s industrial ambitions could only be achieved when manufacturers have access to affordable and sustainable financing.

The MAN boss warned that without a functional credit system supporting production, Nigeria’s goal of becoming a competitive manufacturing economy would remain difficult to achieve.

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned to positive territory after it chalked up 1.18 per cent on Wednesday, June 24.

The NASD Security Index (NSI) was up during the session by 50.02 points to 4,289.36 points from the previous session’s 4,239.34 points, and the market capitalisation got a N30.03 billion boost to settle at N2.574 trillion compared with Tuesday’s closing value of N2.544 trillion.

The growth witnessed yesterday was influenced by two securities, led by Central Securities Clearing System (CSCS) Plc, which improved its value by N4.68 to N79.68 per share from N75.00 per share. Food Concepts Plc grew by 25 Kobo to sell at N2.75 per unit versus the preceding day’s N2.51 per unit.

At the close of trading activities, the value of securities bought and sold by market participants went up by 1,387.1 per cent to N82.9 million from the preceding session’s N5.6 million, and the volume of securities soared by 1,162.2 per cent to 2.7 million units from the previous 211,671 units, while the number of deals was halved by 50 per cent to 19 deals from 38 deals.

Great Nigeria Insurance (GNI) Plc remained the most active 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 sold for N6.5 billion, and CSCS Plc with 68.3 million units transacted for N4.7 billion.

GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.