Economy
Dangote Fertilizer to Trigger Agric Revolution—Marketers, Farmers
By Aduragbemi Omiyale
Some marketers and farmers in Kano State have expressed optimism that the newly introduced Dangote Fertilizer will trigger an agricultural revolution in Nigeria.
Over the weekend, more than 10 trucks supplied bags of fertilisers to Kano markets and at the event organised by Dan Hydro Company in Kano to mark the introduction of the fertilizer into the northern market, chairman of the Kano State Agro Dealers Association, Mr Shuaibu Akarami, said agro-dealers have confidence in Dangote fertilizer as they have in all his products, adding that as a dealer who spent decades in the business, he has discovered that Dangote fertilizer will have no problem penetrating the market in the North.
“I have checked the product and have found out that it will have no problem penetrating the market. With my experience in agro products, I can authoritatively say the product has met our expectations and that has confirmed the confidence we have in Dangote fertilizer and other sister products of the Dangote Group,” he said.
The Dan-Hydro fertilizer Company in Kano, which took delivery of the first batch of trucks in Kano, said the timing and strategy for the introduction are rife.
Head of Operations, Dan- Hydro Operations, Mr Hamadi Sekou Drammeh, said the Dangote fertilizer conforms to all set standard required by the regulatory agencies.
He said the phenomenon of perennial shortage of the fertilizer product will be over in the country, adding that as part of its public enlightenment plan, the company was going to work with all stakeholders in the agricultural sectors.
In the same vein, the Sales Manager of Dan Hydro Mr Sulaiman Tanko assured that the product will be sold at a reasonable price that will enable fair competition in the market.
Business Post reports that after months of speculations, Dangote Urea fertilizer is now finally on sales nationwide and it currently pushes out a minimum of 120 trucks per day across the country
The Group Executive Director, (Strategy, Capital Projects & Portfolio Development), Dangote Industries Limited, Mr Devakumar Edwin, revealed that the plant, which has the capacity to turn out more than 4,500 tonnes of urea per day, will conveniently meet the local demand and even produce for exports.
“We have the capacity to turn out 4,500 tonnes of Urea every day…this is a bulk application fertilizer…each crop in Nigeria or globally will require Nitrogen and this is a rich fertilizer, having 46 per cent nitrogen…
“The company has the capacity to meet local demand and also export to African countries… Currently, the demand is less than 1 million tonnes and we alone can produce 3 million tonnes, so we can easily meet local demand and also produce for export to other West African countries,” he said.
Aside from fertilizer production, the company, according to Mr Edwin, is already working to support the farmers with training on the application of the fertilizer and even establish laboratories across the country for proper soil examination.
“The uniqueness of this plant, apart from the fact that we are producing is the focus on farmers’ support, on training, education, development as we are now establishing laboratories across the country and even mobile laboratories where we can go drive around and take soil samples for proper examination to effectively grow the agricultural outputs across the country,” he said.
The Urea Fertilizer plant was built to tap into Nigeria’s demand for fertilizer, a critical component of achieving food sufficiency for Africa’s most populous country.
The fertilizer factory is expected to manufacture 3 million metric tonnes of urea per annum, with a view to reducing the nation’s fertilizer imports, and generating $400m annual foreign exchange from export to Africa countries.
By Aduragbemi Omiyale
The trading licence of Monument Securities and Finance Limited has been revoked by the regulatory arm of the Nigerian Exchange (NGX) Group Plc.
Known as NGX Regulations Limited (NGX Regco), the regulator said it took back the operating licence of the organisation after it shut down its operations.
The revocation of the licence was approved by Regulation and New Business Committee (RNBC) at its meeting held on September 24, 2025, a notice from the signed by the Head of Market Regulations at the agency, Chinedu Akamaka, said.
“This is to formally notify all trading license holders that the board of NGX Regulation Limited (NGX RegCo) has approved the decision of the Regulation and New Business Committee (RNBC)” in respect of Monument Securities and Finance Limited, a part of the disclosure stated.
Monument Securities and Finance Limited was earlier licensed to assist clients with the trading of stocks in the Nigerian capital market.
However, with the latest development, the firm is no longer authorised to perform this function.
Economy
NEITI Advocates Fiscal Discipline, Transparency as FG, States, LGs Get N6trn in Three Months
By Adedapo Adesanya
The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for fiscal discipline and transparency as data showed that federal government, states, and local governments shared a whopping N6 trillion Federation Account Allocation Committee (FAAC) disbursements in the third quarter of last year.
In its analysis of the FAAC Q3 2025 allocation, the body revealed that the federal government received N2.19 trillion, states received N1.97 trillion, and local governments received N1.45 trillion.
According to a statement by the Director of Communication and Stakeholders Management at NEITI, Mrs Obiageli Onuorah, the allocation indicated a historic rise in federation account receipts and distributions, explaining that year-on-year quarterly FAAC allocations in 2025 grew by 55.6 per cent compared with Q3 of 2024 while it more than doubling allocations over two years.
The report contained in the agency’s Quarterly Review noted that the N6 trillion included 13 per cent payments to derivative states. It also showed that statutory revenues accounted for 62 per cent of shared receipts, while Value Added Tax (VAT) was 34 per cent, and Electronic Money Transfer Levy (EMTL) and augmentation from non-oil excess revenue each accounted for 2 per cent, respectively.
The distribution to the 36 states comprised revenues from statutory sources, VAT, EMTL, and ecological funds. States also received additional N100 billion as augmentation from the non-oil excess revenue account.
The Executive Secretary of NEITI, Mr Sarkin Adar, called on the Office of the Accountant General of the Federation, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) FAAC, the National Economic Council (NEC), the National Assembly, and state governments to act on the recommendations to strengthen transparency, accountability, and long-term fiscal sustainability.
“Though the Quarter 3 2025 FAAC results are encouraging, NEITI reiterates that the data presents an opportunity to the government to institutionalise prudent fiscal practices that will protect the gains that have been recorded so far in growing revenue and reduce vulnerability to commodity shocks.
“The Q3 2025 FAAC results are encouraging, but windfalls must be managed with discipline. Greater transparency, realistic budgeting, and stronger stabilisation mechanisms will ensure these resources deliver durable benefits for all Nigerians,” Mr Adar said.
NEITI urged the government at all levels to ensure the growth of Nigeria’s sovereign wealth and stabilisation capacity, by committing to regular transfers to the Nigeria Sovereign Wealth Fund and other related stabilisation mechanisms in line with the fiscal responsibility frameworks.
It further advised governments at all levels to adopt realistic budget benchmarks by setting more conservative and achievable crude oil production and price assumptions in the budget to reduce implementation gaps, deficit, and debt metrics.
This, it said, is in addition to accelerating revenue diversification by prioritising reforms that would attract investments into the mining sector, expedite legislation to modernise the Mineral and Mining Act, support reforms in the downstream petroleum sector, as well as the full implementation of the Petroleum Industry Act (PIA) to expand domestic refining and value addition.
By Aduragbemi Omiyale
Nigeria has been projected to record an economic growth rate of 4.4 per cent in 2026 by the World Bank Group, higher than the 3.7 per cent earlier predicted in June 2025.
In its 2026 Global Economic Prospects report released on Tuesday, the global lender also said the growth for next year for Nigeria is 4.4 per cent rather than the 3.8 per cent earlier projected.
As for the sub-Saharan African region, the economy is forecast to move up to 4.3 per cent this year and 4.5 per cent next year.
It stressed that growth in developing economies should slow to 4 per cent from 4.2 per cent in 2025 before rising to 4.1 per cent in 2027 as trade tensions ease, commodity prices stabilise, financial conditions improve, and investment flows strengthen.
In the report, it also noted that growth is expected to jump in low-income countries by 5.6 per cent due to stronger domestic demand, recovering exports, and moderating inflation.
As for the world economy, the bank said it is now 2.6 per cent and not 2.4 per cent due to growing resilience despite persistent trade tensions and policy uncertainty.
“The resilience reflects better-than-expected growth — especially in the United States, which accounts for about two-thirds of the upward revision to the forecast in 2026,” a part of the report stated.
“But economic dynamism and resilience cannot diverge for long without fracturing public finance and credit markets,” it noted.
World Bank also said, “Over the coming years, the world economy is set to grow slower than it did in the troubled 1990s — while carrying record levels of public and private debt.
“To avert stagnation and joblessness, governments in emerging and advanced economies must aggressively liberalise private investment and trade, rein in public consumption, and invest in new technologies and education.”
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