Economy
FG Charges Researchers on Potato Value Chain
By Adedapo Adesanya
The federal government, through the Ministry of Agriculture and Rural Development, has tasked research institutes, agencies and development partners in the sector to create solutions to the numerous challenges besetting the country’s potato value chain.
The Minister of Agriculture and Rural Development, Mr Sabo Nanono, gave this charge in his address during a workshop with potato value chain stakeholders in Osogbo, Osun State.
The event was on the adoption and utilisation of Orange Fleshed Sweet Potato (OFSP) and he said new technologies and innovations should be developed to further improve production.
Mr Nanono, who was represented by the Director of the Federal Department of Agriculture, Mrs Karima Babangida, said that OFSP has both economic and health benefits to Nigerians.
He said, “It has come to the knowledge of the Ministry the immense Wealth and Health benefits in Potato production, especially Orange Fleshed Sweet Potato (OFSP) and as such the Ministry is willing to explore these opportunities within the Value Chain in furtherance to achieving food nutrition and security for our beloved country.
“The primary objective of convening this stakeholder workshop is to create a forum for the stakeholders/major actors in the Potato Value Chain to chart a way forward for the realization of the fullest potentials locked up in potato production, processing/utilization and marketing.”
Mr Nanono added that the potato value chain has been facing many challenges right from the seed system stage.
“Several challenges have been identified in the potato value chain; right from the seed system protocols to the marketing of the produce.
“The challenges are quite enormous, but however, not one that is insurmountable. Therefore, all hands must be on deck to achieving this feat. There is no formal seed system for Potato, and it’s been a major drawback in the development of the Value Chain in the country.
“In achieving the above, please be informed that the Ministry is willing to contribute to the development of the Potato Value Chain through its various Agencies and Research institutes with mandates on rendering technical support.
“The Ministry has quite a number of support services that farmers and processors can benefit from. Farm inputs such as; agro-chemicals, farm equipment and machinery) are available at subsidized rates at the Ministry.
“I want to use this medium to urge the various Research Institutes, Agencies and Development partners with mandates on the Potato to work assiduously in creating solutions to the numerous challenges besetting the Value Chain, as well as new technologies and innovations to further improve production,” the Minister stated.
The Minister, while informing the participants at the workshop held on Thursday, April 1, said that the Ministry had earlier convened two regional meetings on Sweet potato in the South-South, Calabar, Cross River State and North-East, Yola, Adamawa State.
He noted that a sensitization meeting would be held in three geopolitical zones of the country, that is the (North-West, North-Central and South-East) regions respectively before convening a National Stakeholders workshop in no distant future.
Mr Nanono charged the ADP’s and the various Potato Commodity Association/Farmers to embrace new innovations such as; the Farmers Business School (FBS); Cooperative Business School (CBS); and Good Agricultural Practices (GAP) to improve their all-round farming activities as a means to strengthen their capacity in production and marketing.
In his remarks, the Ministry’s state director, Engr. Atoyebi O. Sunday, said that asides from the wealth potentials of processing OFSP into various confectioneries such as Chin-chin, juice, biscuits, cake, flour, bread among others, its health benefits cannot be overemphasized.
Mr Sunday said that OFSP is known to have enough nutritional values to supply the vitamin A requirement for children between the ages of 6 months to five years, support pregnant and lactating mothers and also help boost the immune system of the elderly.
He said, “The purpose of this meeting is to provide solutions to many challenges facing the popularization and adoption of the OFSP among the Nigerian farmers and processors nationwide.
“With this, I believe the resolutions of this meeting will help the Federal Ministry of Agriculture to plan adequately for ways of supporting potato farmers and processors nationwide.
“In view of the above, it is expedient for all of us to make use of this opportunity to cross-fertilize ideas and offer suggestions that will help in changing the narratives of low adoption and utilization of OFSP in Nigeria and also based on the information and knowledge gathered from the workshops; become an advocate of OFSP in our various communities and states.”
By Aduragbemi Omiyale
In the first quarter of its financial year ended June 30, 2026, Airtel Africa Plc showed resilience in the midst of challenging operating environments, churning out strong operating performance with accelerating customer base growth across all segments.
It was observed that the total customer base in Q1 2027 increased by 11.6 per cent to 189 million, with data customers rising by 15.5 per cent to 87.3 million.
In addition, data usage per customer continued its upward trajectory, rising from 7.8 GB to 10.6 GB per month over the past year, translating into a 56.3 per cent increase in data traffic across the network, underpinning a 10.3 per cent growth in constant currency data ARPU. Smartphone penetration was the key enabler of this increased traffic as penetration increased to 51.0 per cent as digital adoption of our services continues.
A look at the financial performance indicated that revenue in reported currency grew by 31.0 per cent to $1.85 billion, reflecting constant currency growth of 21.1 per cent and macroeconomic tailwinds supporting currency appreciation.
All segments continued to see double-digit constant currency revenue growth, with mobile services revenue growing by 19.1 per cent, and mobile money growing by 25.8 per cent.
Across mobile services, voice continued to see strong constant currency growth of 11.2 per cent and data revenue grew by 27.2 per cent.
In East Africa and Francophone Africa, constant currency revenues grew by 17.8 per cent and 18.0 per cent, respectively, while Nigerian revenues grew by 29.8 per cent, fully reflecting the lapping effect of the tariff adjustments which were implemented in the fourth quarter of 2025.
Constant currency EBITDA went up by 24.4 per cent, with reported currency EBITDA of $928 million growing by 36.6 per cent. The Q1’27 EBITDA margin of 50.1 per cent, an increase of 206bps year-on-year, continues to reflect the success of the company’s ongoing cost optimisation programme, despite the recent energy cost inflation arising from geopolitical developments.
The post-tax profit improved to $198 million from $156 million in the prior period, with higher profit after tax in the current period driven by elevated operating profit partially offset by derivative and foreign exchange losses of $6 million in the current period compared to $22 million derivative and foreign exchange gains in the prior period.
Furthermore, Profit after tax was impacted by the recognition of an exceptional finance cost of $37 million following an in-principle settlement reached during the quarter in respect of a commercial dispute in one of the group’s subsidiaries.
Commenting on the results, the chief executive of Airtel Africa, Mr Sunil Taldar, said, “We have started this year with another pleasing performance. Our continued focus on the customer experience translated into accelerating customer base growth across all business segments.
“As we continue to digitise our business, we are streamlining customer journeys, increasing digital adoption and harnessing data and AI to improve service delivery and support a strong, sustainable growth profile.”
By Aduragbemi Omiyale
One of the nation’s top brewers, Guinness Nigeria Plc, is paying an interim dividend of N7 per share to its shareholders for the period ended June 30, 2026.
The funds should, on August 10, 2026, hit the bank accounts of investors whose names appear in the Register of Members as of the close of business on Wednesday, July 29, 2026, a regulatory note from the organisation disclosed.
The firm has informed shareholders who have yet to complete the e-dividend registration to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on its website, so as not to be left out of the cash reward for the first half of this year.
In the first six months of 2026, Guinness Nigeria grew its net profit by 53.33 per cent to N25.3 billion from N16.5 billion in the same period of 2025, amid improved top line and better management of administrative, marketing and distribution costs.
The revenue for the period under consideration rose to N265.0 billion from N237.0 billion, boosted by domestic sales of its products, which accounted for N260.9 billion compared with N237.0 billion a year earlier. The balance was from its export sales. This showed that over 98 per cent of the company’s earnings are from sales in Nigeria.
In the first half of the year, Guinness Nigeria improved its gross profit to N97.5 billion from N89.4 billion in the same period of 2025, as its finance income, arising from financial assets and others, stood at N1.2 billion compared with N110.7 million in H1 of 2026.
By Adedapo Adesanya
The federal government has reaffirmed its commitment to mobilising domestic capital to finance Nigeria’s long-term development, saying stronger local investment will be critical to accelerating economic transformation and attracting private sector participation.
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, stated this while speaking at the 6th Annual General Assembly of the Association of Nigerian Development Finance Institutions (ANDFI) in Abuja on Thursday.
The Minister’s remarks were contained in a statement on Friday, July 24, by his Senior Special Assistant on Communications and Press Secretary, Mrs Maryann Duke.
Addressing the conference with the theme, Unlocking Domestic Capital for Development Financing, Mr Oyedele said Nigeria must harness its domestic financial resources and strengthen institutions that can channel capital into productive sectors of the economy.
He noted that despite increasingly difficult global financing conditions, the country possesses substantial domestic savings, institutional assets and private capital that can be leveraged to fund infrastructure, industrialisation, agriculture, housing, innovation and other critical sectors.
According to the minister, domestic capital should not be viewed as an alternative to foreign investment but as the foundation for attracting sustainable international investment.
“Our focus is to build an economy where confidence leads capital. By strengthening macroeconomic stability, deepening our financial markets and empowering development finance institutions to catalyse private investment, we are unlocking Nigeria’s enormous domestic potential to finance inclusive and sustainable growth,” Mr Oyedele said.
He said the federal government’s ongoing economic reforms under the Renewed Hope Agenda are beginning to deliver positive outcomes, including improved investor confidence, stronger external reserves, enhanced revenue generation and renewed international confidence in Nigeria’s economy.
The Minister identified five priority areas for unlocking domestic capital, including expanding investment opportunities for households, deepening institutional capital through pension and insurance assets, strengthening credit enhancement mechanisms, broadening local currency financing through the capital market, and building stronger development finance institutions capable of attracting larger volumes of private investment.
Mr Oyedele also called on development finance institutions to move beyond conventional lending by helping to structure bankable projects, reduce investment risks, support policy reforms and create financing ecosystems that encourage greater private sector participation.
He reaffirmed the Federal Government’s commitment to working with development finance institutions, financial regulators, investors and development partners to develop a financing framework that will support businesses, create jobs, accelerate industrialisation and promote inclusive economic growth across the country.
