Economy
CBN Anchor Borrower Programme Kicks Off in Lagos
By Modupe Gbadeyanka
Ten poultry farmers registered under Nigeria’s foremost broiler out-grower scheme, natnuPreneur, have become the first beneficiaries of Central Bank of Nigeria (CBN)’s poultry Anchor Borrowers Scheme (ABP).
The farmers took delivery of 1000 birds each in a ceremony which held at Erikorodo farm settlement, Ikorodu, Lagos on Thursday, August 17, 2017.
The event had the CBN, Bank of Agriculture (BOA), the Ministry of Agriculture Lagos state, AMO Farms, Erikorodo Poultry Farmers’ Association well represented; a total of 10,000 Day Old Chicks (DOCs) were formally handed over to the beneficiaries following the delivery of 38 tonnes of feeds for the six weeks rearing period, three days prior.
While addressing newsmen shortly after the handing over ceremony, the Coordinator of natnuPreneur, Mr Gbolade Adewole expressed satisfaction at the success of the event pointing out that it is another feather added to the cap of the natnuPreneur initiative.
“This is another success we are recording here today. It is a thing of joy for us at Amo Farms to have our farmers kick start the pilot phase of this CBN initiative. It tells you that there is something we are doing right and I can assure that this scheme will be a success”.
“With the technical support and training we render farmers through our team of Animal Scientists, veterinary doctors, customer satisfaction representatives, I am sure that in the next six weeks, our farmers would have successfully reared these chicks into healthy broilers, which we’ll be buying back from them, at the agreed off-take price,” he said.
Speaking earlier, Mr Adebisi Adedeji, Head of the Development Finance Office (DFO) CBN Lagos, reiterated the apex bank’s commitment towards reducing Nigeria’s food importation and encouraging locally produced food both for consumption and export.
Mr Adebisi explained that as part of realizing the food security goal of the Federal Government, the CBN in collaboration with Amo Farm Sieberer Hatchery Limited, has engaged 33 farmers registered under the natnuPreneur out-grower scheme, in a pilot phase of broiler production.
Explaining the role of the CBN in the programme, Mr Adebisi said “This is the pilot phase for the poultry farmer’s ABP in Lagos. This might appear like a small project at the moment but we assure you that by the end of this year, there will be hundreds and if possible thousands of farmers involved in this scheme.
“The scheme will cut across other areas of agriculture, but, we are starting with poultry because, unlike others, it’s not seasonal.
“The CBN has invested a lot into this programme and we will still invest more. What we have done is to provide the farmers with the finance needed to buy the birds, the feed and other inputs necessary materials to successfully rear the birds.”
He said that as part of measures already in place to ensure the success of the scheme, a ready market has been prepared for the farmers in natnudO foods through natnuPreneur broiler out-grower scheme. He assured them that, market changes will not affect their selling price as the already agreed selling price will apply at the end of the cycle notwithstanding possible market changes.
In his words, “The Anchor, natnudO Foods, who is also the off taker, has guaranteed that they will buy off all the produce at the end of the cycle at a fixed price.
“So it’s not a situation where the farmers at the end of the day will be looking for a market or people to sell their produce to, there is a ready market for them.
“Also, price risk as a result of market changes will not affect them because; the broilers will be bought at the agreed price. So it’s a win –win situation for all the parties involved.”
He expressed optimism that in the next six weeks the DOCs would be ready for culling, and assured that it will be a successful outing.
While also addressing the farmers, the General Manager, Policy and Strategy, AMO Group, Mr Toromade Francis noted that the achievement is an addition to the success natnudO Foods has recorded with its natnuPreneur scheme.
In his words: “For us this is not the first time. So far, we have onboarded about 1,219 natnuPreneur farmers nationwide, culled over 3.8 million birds and paid over N4Billion to farmers across the country. So, this is just an addition to what we have done.”
He advised the farmers to be committed, effective and prudent while assuring them that natnudO Foods being the anchor to the programme will provide all technical support needed for them to succeed. He assured them that the chicks, feed and other inputs that have been given to them are of the highest quality.
“I assure you that, as the anchor in this programme, we will support you with all the technical assistance you require, as we assume that after six weeks, you would have been able to achieve the weight expected.
“This is a journey which is starting today and we hope that by this time next year, we should be harvesting hundreds of thousands of chickens from these farms. We have increased the capacity of our abattoirs, we have decentralized and are now processing in Port Harcourt and Kaduna just to ensure that we accommodate all the chickens that you will raise, we’re also constructing an abattoir in Uyo,” he said.
Speaking on behalf of the farmers, Captain Eka Justus, the Chairman, Erikorodo Poultry Farmers Association thanked the CBN, BOA, Lagos state ministry of Agriculture and AMO Farms for the opportunity and promised that the farmers will not disappoint them.
“We want to express our joy at this opportunity because, to be selected amongst all the farms in Lagos State as the first beneficiary of this programme is an honour and privilege. We say a big thank you to CBN, BOA, Ministry of Agriculture, Amo Farms and natnudO Foods. We assure you that we will not let you down” he said.
The Anchor Borrowers’ Programme (ABP) was established by the CBN and launched by President Muhammadu Buhari (GCFR) with the intention to create a linkage between anchor companies and small holder farmers (SHFs) providing them with key agricultural commodities.
The programme thrust of the ABP is provision of farm inputs in kind and cash to small holder farmers to boost production of commodities, stabilize inputs supply to agro processors and address the country’s negative balance of payments on food.
At harvest, the SHF supplies his/her produce to the Agro-processor (Anchor) who pays the cash equivalent to the farmer’s account.
By Dipo Olowookere
A new report which listed the Top 10 Safest Countries for Foreign Investment has excluded Nigeria despite the efforts of the administration of President Bola Tinubu to make the country the preferred place to do business.
Since assuming office on May 29, 2023, Mr Tinubu has carried out some economic reforms aimed to attract investors to Nigeria, including the liberalisation of the foreign exchange (FX) market, removal of petrol subsidy, and streamlining the tax regime, among others.
In a recent study by Atmos, top 30 countries were identified based on economic stability, investment attractiveness, and political and economic stability.
In the outcome of the research made available to Business Post on Monday, it was stated that countries were evaluated using six metrics: economic stability rank, political stability score, global peace index, investment attractiveness, foreign direct investments (FDI), and GDP per capita. These metrics were ranked, with the top country receiving a score of 100.
“When evaluating investment potential, it’s clear that economic strength alone doesn’t paint the full picture.
“Political stability and a peaceful environment are equally essential in fostering a climate that attracts long-term investment. Investors are drawn to countries where risks are minimized and confidence in future growth is high, making these factors just as critical to a nation’s financial appeal,” the chief executive of Atmos, Mr Nick Cooke, stated.
Switzerland led the ranking as the lowest risk country to invest in, with a score of 100. It featured exceptional economic fundamentals and the highest GDP per capita among the top-ranked countries at nearly $100,000. Switzerland demonstrates balance across all metrics, ranking 2nd in economic stability while maintaining excellent political stability (1.07) and peace index scores (1.33).
Singapore followed in 2nd with a score of 90.21, standing out with the highest investment attractiveness (82.4) among the top three nations and exceptional foreign direct investment inflows of over $175 million, outperforming Switzerland in this metric. The city-state’s strategic position in Southeast Asia, combined with its second-place economic stability ranking, creates a powerful investment hub. Singapore’s global peace index of 1.3 is the best among all ranked countries, reflecting its excellent security environment.
The third of the list was Canada with a score of 89.53, demonstrating exceptional investment attractiveness (86.6) and solid political stability (0.82). Canada’s balanced approach to foreign investment has resulted in substantial foreign direct investment (FDI) inflows exceeding $47 million, positioning it as a reliable North American investment alternative. The country maintains strong economic fundamentals, offering a reasonable GDP per capita of $53,431.
Japan ranked 4th with a score of 88.77, featuring the highest investment attractiveness score (86.8) among all countries in the index. The Asian country has an excellent political stability (0.951) and a strong peace index rating (1.33), creating a secure environment for foreign capital. Despite having a lower GDP per capita than other top-five nations at $33,766, Japan’s economic resilience and technological innovation continue to attract nearly $20 million in foreign investments.
The 5th place was occupied by Germany with a score of 86.32. As Europe’s largest economy, Germany maintains excellent economic stability (ranked 3rd), following Switzerland and Singapore, and a strong investment attractiveness (84.6). With GDP per capita exceeding $54K and foreign direct investments approaching $20 million, Germany represents the centerpiece of European investment security.
Denmark is the 6th-lowest risk country to invest in, with a score of 84.38, featuring an impressive GDP per capita of $68,453 and excellent political stability (0.85). Denmark’s peace index of 1.3 places it among the safest nations globally, though its relatively modest FDI figures of $4.5 million reflect its smaller market size. The Nordic nations’ consistent economic policies and transparent business environment remain key strengths for investors seeking stability.
In the 7th, Australia scored 84.08, balancing strong political stability (0.921) with excellent investment attractiveness (81.9). Australia has attracted substantial foreign direct investments exceeding $32.5 million, second only to Singapore among the top ten countries. Australia has attracted $32.5 million in foreign investments, substantially higher than Denmark and second only to Singapore. It also offers a GDP per capita of $64,820 with a relatively stronger peace index (1.525) compared to several preceding countries.
Norway was in 8th with a score of 82.44. With the second-highest GDP per capita at $87,925, Norway only trails Switzerland in this metric. It maintains solid political stability (0.89) and investment attractiveness (78.8), though its economic stability rank (11th) is the lowest among the top ten countries. The Nordic nation has attracted over $10.7 million in foreign investments despite its relatively small market size.
The United Arab Emirates took the 9th position with a score of 80.71, claiming the top position in economic stability among all countries in the index. The UAE combines this economic strength with moderate political stability (0.681) and substantial foreign investments exceeding $22.3 million. At the same time, its relatively weaker peace index score (1.979) and lower investment attractiveness (59.6) compared to other top nations prevent a higher overall ranking.
The 10th spot was grabbed by New Zealand with a score of 76.96, featuring excellent peace index ratings (1.31) but faces challenges with its economic stability ranking (18th) and modest foreign investment inflows of $3.59 million. The country’s investment attractiveness score of 63.0 is significantly lower than that of other top-ranked nations, reflecting its geographical isolation and smaller market size.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange decreased by 0.53 per cent on a week-on-week basis in Week 17 of the 2025 trading year.
This depleted the market capitalisation of the bourse by N10.14 billion in the four-day trading week to N1.914 trillion from the N1.924 trillion recorded in the previous week and the NASD Unlisted Securities Index (NSI) slid by 17.32 points to 3,269.06 points from the 3,286.38 points posted in Week 16.
There were only four trading days last week due to the Easter break stretching into the new week, though the market witnessed a higher turnover.
The volume of securities bought and sold by the market participants soared by 293,055.9 per cent to 3.9 billion units from the 1.33 million units recorded a week earlier, and the value of shares skyrocketed by 33,661.6 per cent to N9.9 billion from the N29.35 million achieved in the preceding week.
The most traded security by value for the week was Infrastructure Credit Guarantee (InfraCredit) Plc with N9.5 billion, Geo-Fluids Plc recorded N355.4 million, FrieslandCampina Wamco Nigeria Plc traded N7.2 million, Central Securities Clearing System (CSCS) Plc transacted N3.8 million, and Afriland Properties Plc posted N2.5 million.
Also, InfraCredit Plc was the most traded instrument by volume with 3.7 billion units, Geo-Fluids Plc transacted 207.7 million units, UBN Property Plc recorded 1.04 million units, FrieslandCampina Wamco Nigeria Plc traded 0.201 million units, and CSCS Plc exchanged 0.178 million units.
Five securities ended on the losers’ table, with FrieslandCampina Wamco Nigeria Plc leading after shedding 6.0 per cent to end at N35.37 per share compared with the previous week’s N37.64 per share.
Further, 11 Plc fell by 3.8 per cent to close at N236.25 per unit versus N245.50 per unit, UBN Property Plc lost 3.2 per cent to trade at N2.10 per share versus N2.17 per share, CSCS Plc declined by 1.8 per cent to N21.71 per unit from N22.10 per unit, and Afriland Properties Plc slumped by 0.1 per cent to N17.78 per share from N17.80 per share.
By Dipo Olowookere
A total of 1.854 billion shares worth N56.025 billion were transacted in 51,386 deals at the Nigerian Exchange (NGX) Limited last week compared with the 1.525 billion shares valued at N43.006 billion traded a week earlier in 51,156 deals.
The market was opened for business in the week for four days because of the public holiday observed last Monday for Easter.
In the week, the financial services sector led the activity chart with 1.266 billion stocks valued at N29.400 billion exchanged in 24,351 deals, contributing 68.28 per cent and 52.48 per cent to the total trading volume and value, respectively.
The ICT industry followed with 136.707 million stocks worth N12.472 billion in 2,974 deals, and the consumer goods space traded 118.617 million equities for N4.415 billion in 5,869 deals.
The trio of Fidelity Bank, Access Holdings, and GTCO accounted for 797.873 million shares worth N22.043 billion in 8,618 deals, contributing 43.03 per cent and 39.34 per cent to the total trading volume and value, respectively.
Business Post reports that 64 equities appreciated in the four-day trading week versus 31 equities in the previous week, 27 equities depreciated versus 44 equities in the previous week, and 57 equities remained unchanged versus 72 equities recorded in the previous week.
International Breweries topped the gainers’ log with a 40 per cent rise to settle at N7.70, NASCON appreciated by 26.22 per cent to N52.95, Africa Prudential expanded by 25.64 per cent to N17.15, Vitafoam Nigeria rose by 21.22 per cent to N44.85, and Ikeja Hotel jumped by 21.00 per cent to N12.10.
On the flip side, VFD Group topped the losers’ chart with a decline of 82.19 per cent to trade at N17.10, John Holt lost 18.60 per cent to finish at N6.30, Dangote Cement shed 10.00 per cent to close at N432.00, Tripple Gee crashed by 10.00 per cent to N1.98, and Haldane McCall depreciated by 9.96 per cent to N4.70.
The All-Share Index (ASI) and the market capitalisation appreciated by 1.46 per cent and 1.47 per cent each to close at 105,752.61 points and N66.465 trillion, respectively.
Similarly, all other indices finished higher apart from the premium, energy, industrial goods, growth and sovereign bond indices, which depreciated by 0.43 per cent, 0.07 per cent, 3.44 per cent, 0.41 per cent and 0.06 per cent, respectively.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN