Economy
FarmCrowdy, Livestock247 Partner to Boost Trading
A partnership aimed to deepen the offerings in the agricultural space in terms of proper organisation and profitable deployment of funds to key areas of production and trading of livestock in Nigeria has been signed between FarmCrowdy and Livestock247.
On Tuesday, the management of FarmCrowdy announced the deal via the company’s official Twitter page.
According to Co-Founder of the firm, Mr Kenneth Obiajulu, who is also the Managing Director of Farmgate Africa, a subsidiary of the company, more collaboration would be done so as to deliver value for key stakeholders in the agribusiness sector.
“Our goal has always been to collaborate with relevant partners in the agribusiness space to deliver value for both smallholder farmers and major processors/buyers.
“With our livestock portfolio, we have received substantial orders from notable key accounts that require bulls with specific criteria. Our vision is a shared one with Livestock247.com, and this sees us developing the marketing together both from a production and marketing point,” Mr Obiajulu said.
Through the recent partnership with Livestock247, Farmcrowdy has established its first farmyard in Adamawa State, bringing the total farmyard houses to over 24000 bulls, with about 1,200 feedlots spread throughout the North West, North East and Southern parts of Nigeria.
In addition, FarmCrowdy, through Farmgate Africa, has anchored the relationship that sees Livestock247.com trading in excess of 20,000 bulls in over 10 abattoirs in Lagos for the year 2019 alone.
Group CEO of Farmcrowdy, Mr Onyeka Akumah, while also commenting on the development, said the agricultural ecosystem of Nigeria cannot be built alone, hence the partnership.
He also reinforced the importance of leveraging on partnership with experts and stakeholders in the sector.
“We can’t build an entire ecosystem for Agriculture in Nigeria alone. We have our strengths when we are building solutions with technology, but to build an ecosystem requires strong partnerships with stakeholders who are experts in their domain.
“So, this is the reason why a partnership with Livestock 247 is exciting for the entire Farmcrowdy Group and specifically for Farmgate Africa — our Aggregator Platform for Agro-commodities,” Mr Akumah stated.
Livestock247 is a platform where buyers and sellers trade livestock conveniently. Only fit-for-slaughter livestock are traded on the portal, with veterinary doctors also offering the livestock owners diagnostics and epidemiology lectures on the site.
So far, Livestock247 has operations across Katsina, Kaduna, Kano, Niger, Adamawa, Taraba, Abuja, and Osun States. It plans to expand to Enugu and Rivers states in the southern part of the country.
Co-Founder and CEO of Livestock247.com, Mr Ibrahim Maigari Ahmadu,, stated that, “Lagos slaughters over 6000 cows a day, being the largest consuming livestock market in sub-Saharan Africa. Our target is to produce in excess of 24,000 bulls through 1,200 feedlot clusters in the next one year.”
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) 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 traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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