Economy
FCTA Empowers 600 Youths on Greenhouse Farming Technology
By Adedapo Adesanya
The Federal Capital Territory Administration (FCTA) has empowered 600 youths with practical skills in Greenhouse farming technology, targeted at propelling them to gainfully venture into the agriculture sector.
The FCT Agriculture based groups across the six Area Councils were trained on Greenhouse management practices.
The Mandate Secretary for the FCTA Agriculture and Rural Development Secretariat, Mr Abubakar Ibrahim, while inaugurating the programme on Thursday said it is in line with the policy thrust of the FCTA predicated on unearthing the abundant potentials of the agriculture sector in the territory.
He said that the agriculture secretariat was committed to positively engaging the teeming population of youths in productive ventures across the various agricultural value chains.
Mr Ibrahim noted that the secretariat veered into the Greenhouse crop production in 2020 as a pilot project mainly for demonstration purposes for FCT youths, which has now metamorphosed into a venture with huge commercial benefits.
“This is part of President Muhammadu Buhari’s call for us the agencies and ministries to lift millions of Nigerians out of poverty.
“So, we are introducing a new technology (Green House farming in the FCT) which is an all-year-round programme to encourage our youths and women to venture into the agriculture sector.
“Because, as we all know, every day the population of Abuja is increasing as people from all walks of life come to look for jobs, and we don’t have the jobs. This is why we are introducing this new technology.
“At the end of the training, we are going to empower them with some starter-packs that would help them to advance their skills and knowledge.
“Already, we have gotten approval from the Minister of State, Dr Ramatu Aliyu to establish additional two new greenhouses in Bwari and Kwali Area Councils respectively.
“My hope is before I leave office, is to replicate this in the six Area Councils of the FCT”, he said.
Earlier, the FCTA Director of Agriculture Services, Mrs Ihekandu Francisca, explained that greenhouse technology was a new method of rapid multiplication of crop commodities, under controlled climate and environmental factors for an increase in crop yield.
She added that the training will empower farmers, ensure self-sufficiency in sustainable agriculture, reduce youth restiveness, rural-urban youth drift, create jobs and alleviate poverty in the Territory.
Also, Station Head, International Institute of Tropical Agriculture (IITA), Kubwa, Mr Lateef Sanni, noted that recently the organisation signed a Memoranda of Understanding (MOU) of partnership with the FCTA.
He said one of the first case studies was the issue of the use of Greenhouse technology, which was the practical demonstration of green innovation.
Mr Sanni added that it was also a hand-aide tool for the youths, as it is more or less an urban farming system, with an available market for the produce.
“On behalf of IITA, I want to compliment the initiative with a solar house technology for the processing and preservation of the post-harvest, which we have done in other countries.
“I want to openly commend the FCT Minister of State and the amiable and productive Mandate Secretary and the Directors for taking this initiative.” If we all work together, definitely, we are going to create more jobs for the youths and enhance our economic development as a nation.”
Experts say Greenhouse farming is a type of farming in which crops are cultivated under-protected and enclosed environment.
Greenhouse farming is becoming very popular in Nigeria because of its advantages of keeping out pests and diseases and its comparable yield advantage to open field cultivation of crops.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited witnessed Santa Claus rally on Wednesday after it closed higher by 0.12 per cent.
Strong demand for Nigerian stocks lifted the All-Share Index (ASI) by 185.70 points during the pre-Christmas trading session to 153,539.83 points from 153,354.13 points.
In the same vein, the market capitalisation expanded at midweek by N118 billion to N97.890 trillion from the preceding day’s N97.772 trillion.
Investor sentiment on Customs Street remained bullish after closing with 36 appreciating equities and 22 depreciating equities, indicating a positive market breadth index.
Guinness Nigeria chalked up 9.98 per cent to trade at N318.60, Austin Laz improved by 9.97 per cent to N3.20, International Breweries expanded by 9.85 per cent to N14.50, Transcorp Hotels rose by 9.83 per cent to N170.90, and Aluminium Extrusion grew by 9.73 per cent to N16.35.
On the flip side, Legend Internet lost 9.26 per cent to close at N4.90, AXA Mansard shrank by 7.14 per cent to N13.00, Jaiz Bank declined by 5.45 per cent to N4.51, MTN Nigeria weakened by 5.21 per cent to N504.00, and NEM Insurance crashed by 4.74 per cent to N24.10.
Yesterday, a total of 1.8 billion shares valued at N30.1 billion exchanged hands in 19,372 deals versus the 677.4 billion shares worth N20.8 billion traded in 27,589 deals in the previous session, implying a slump in the number of deals by 29.78 per cent, and a surge in the trading volume and value by 165.72 per cent and 44.71 per cent apiece.
Abbey Mortgage Bank was the most active equity for the day after it sold 1.1 billion units worth N7.1 billion, Sterling Holdings traded 127.1 million units valued at N895.9 million, Custodian Investment exchanged 115.0 million units for N4.5 billion, First Holdco transacted 40.9 million units valued at N2.2 billion, and Access Holdings traded 38.2 million units worth N783.3 million.
By Adedapo Adesanya
Nigerian food and beverage company, Rite Foods Limited, has extended warm Yuletide greetings to Nigerians as families and communities worldwide come together to celebrate the Christmas season and usher in a new year filled with hope and renewed possibilities.
In a statement, Rite Foods encouraged consumers to savour these special occasions with its wide range of quality brands, including the 13 variants of Bigi Carbonated Soft Drinks, premium Bigi Table Water, Sosa Fruit Drink in its refreshing flavours, the Fearless Energy Drink, and its tasty sausage rolls — all produced in a world-class facility with modern technology and global best practices.
Speaking on the season, the Managing Director of Rite Foods Limited, Mr Seleem Adegunwa, said the company remains deeply committed to enriching the lives of consumers beyond refreshment. According to him, the Yuletide period underscores the values of generosity, unity, and gratitude, which resonate strongly with the company’s philosophy.
“Christmas is a season that reminds us of the importance of giving, togetherness, and gratitude. At Rite Foods, we are thankful for the continued trust of Nigerians in our brands. This season strengthens our resolve to consistently deliver quality products that bring joy to everyday moments while contributing positively to society,” Mr Adegunwa stated.
He noted that the company’s steady progress in brand acceptance, operational excellence, and responsible business practices reflects a culture of continuous improvement, innovation, and responsiveness to consumer needs. These efforts, he said, have further strengthened Rite Foods’ position as a proudly Nigerian brand with growing relevance and impact across the country.
Mr Adegunwa reaffirmed that Rite Foods will continue to invest in research and development, efficient production processes, and initiatives that support communities, while maintaining quality standards across its product portfolio.
“As the year comes to a close, Rite Foods Limited wishes Nigerians a joyful Christmas celebration and a prosperous New Year filled with peace, progress, and shared success.”
By Adedapo Adesanya
The Naira closed the pre-Christmas trading day positive after it gained N6.61 or 0.46 per cent against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, December 24, trading at N1,443.38/$1 compared with the previous day’s N1,449.99/$1.
Equally, the Naira appreciated against the Pound Sterling in the same market segment by N1.30 to close at N1,949.57/£1 versus Tuesday’s closing price of N1,956.03/£1 and gained N2.94 on the Euro to finish at N1,701.31/€1 compared with the preceding day’s N1,707.65/€1.
At the parallel market, the local currency maintained stability against the greenback yesterday at N1,485/$1 and also traded flat at the GTBank forex counter at N1,465/$1.
Further support came as the Central Bank of Nigeria (CBN) funded international payments with additional $150 million sales to banks and authorised dealers at the official window.
This helped eased pressure on the local currency, reflecting a steep increase in imports. Market participants saw a sequence of exchange rate swings amidst limited FX inflows.
Last week, the apex bank led the pack in terms of FX supply into the market as total inflows fell by about 50 per cent week on week from $1.46 billion in the previous week.
Foreign portfolio investors’ inflows ranked behind exporters and the CBN supply, but there was support from non-bank corporate Dollar volume.
As for the cryptocurrency market, it witnessed a slight recovery as tokens struggled to attract either risk-on enthusiasm or defensive flows.
The inertia follows a sharp reversal earlier in the quarter. A heavy selloff in October pulled Bitcoin and other coins down from record levels, leaving BTC roughly down by 30 per cent since that period and on track for its weakest quarterly performance since the second quarter of 2022. But on Wednesday, its value went up by 0.9 per cent to $87,727.35.
Further, Ripple (XRP) appreciated by 1.7 per cent to $1.87, Cardano (ADA) expanded by 1.2 per cent to $0.3602, Dogecoin (DOGE) grew by 1.1 per cent to $0.1282, Litecoin (LTC) also increased by 1.1 per cent to $76.57, Solana (SOL) soared by 1.0 per cent to $122.31, Binance Coin (BNB) rose by 0.6 per cent to $842.37, and Ethereum (ETH) added 0.3 per cent to finish at $2,938.83, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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