Economy
FG Releases 49 New High Yield Crop Varieties to Farmers
By Adedapo Adesanya
The Federal Government of Nigeria has released 49 new high yield crop varieties to farmers through the National Varieties Release Committee (NVRC) to boost food production in the country.
This was disclosed by Mr Oladosu Awoyemi, the NVRC Chairman at the 30th meeting of the National Committee on Naming, Registration and Release of Crop Varieties, Livestock Breed/Fishes in Ibadan, Oyo State yesterday.
He explained that “All the 49 hybrid varieties of 11 crops submitted for consideration, registration and release by the Nigerian research institutes and private sector seed companies were approved for release.
“The released crop varieties include two rice hybrids namely Arize 6444 Gold and Arize TEJ Gold.
“Two high protein-rich oat varieties namely SAMOAT 1 and SAMOAT 2, three Durum wheat varieties namely LACRI-WHIT 12D and LACRI- WHIT 13D.
“Three pro-Vitamin A hybrids cassava, namely UMUCASS 52, UMUCASS 53 and UMUCASS 54.
“Nineteen maize varieties namely ILOMAZ 2; HAKIM 1, HAKIM 2; HAKIM 3; DK7500; SAMMAZ 64, 65, 66, 67; Drought TECO WE8206; WACQH6, WAC55E, WAC14M5, among others.”
On the activities of NVRC, he said the decree that set up the committee makes it mandatory “for anybody who wants to release new varieties of crop into the Nigerian farming community to send samples of that seed to research institute that is relevant for it”.
“The research institute will test such seed across the ecological zones for which it is recommended.
“And, when they are satisfied that it is suitable for cultivation in Nigeria, then, they will bring it to the committee to officially consider it for release on registration.
“We have a national register of all important that are produced in Nigeria that has been certified by the committee.
“And, if there is any new research officer who wants to go into any crop he has to go into the register to see what has been done in the past before he can now start of what to do in the future,” he explained.
In his remarks, Mr Mohammed Al Hassan, the Commissioner for Agriculture in Jigawa, who sponsored the release of Durum Wheat said, “this is the first time hard wheat (durum wheat) would be registered and released to Nigerian farmers.
According to Mr Alhassan, Durum wheat is very high in yielding as it has very low fertilizer requirement, and produces big grains which are attractive and the price is different in the markets which make it give farmers high earnings.
He said that the expectation of farmers in Jigawa was to continuously improve varieties of various crops planted in the state.
Mr Alhassan said the vision of the state government “is to make sure that economy of the country was improved through agriculture for the benefits of Nigerians, especially people of Jigawa.”
On his part, Mr Sheu Ado, the National Coordinator for Maize Research, said the development in the new crops varieties were encouraging.
According to Mr Ado, some crops, which are not even grown previously in the country, such as oat, “is now being cultivated to improve the availability of food in the country.
“If we can grow our own oat, then, such amount of money expended in foreign exchange on importation of oat will be conserved for the country.”
In his remarks, Mr Olusegun Ojo, the Director-General of National Agricultural Seeds Council (NASC), said the 49 crops that have been officially released by the committee would be passed on to the council.
Mr Ojo said the council would make arrangements for wide multiplication of the crop for distribution to all farmers across the country.
“The expectations of the farmers will be higher yields, better resistance crops and at the end of the day, what farmers will be taken home as a result of the higher yields would be higher productivity and more income in their pockets.
“The process of getting a crop released for broad distribution involves testing the seed at research institutes and on farmers’ fields across the country.
“It is only when representatives of farmers have accepted that the crop is good for them and that such crop is better than the old varieties, then we bring it to the committee for consideration for official release,” he said.
Adding his input, Professor Abdullahi Mustapha, the Director-General, National Biotechnology Development Agency (NABDA), said the agency was saddle with the responsibility of looking into the genetic constituents of the crops.
“Looking at it from that angle, this is the transformation of the crops and bringing in new varieties of the crops; it affects genes constituent so the gene threat is what defined the quality, the yield and characters there.”
By Aduragbemi Omiyale
Barring any last-minute changes, the 50th Annual General Meeting (AGM) of Champion Breweries Plc will take place on Thursday, May 21, 2026, at the Oriental Hotel, Victoria Island, Lagos, at 11:00 am.
At the yearly shareholders’ gathering, some of the key statutory and governance matters to be considered will include the Audited Financial Statements for the year ended December 31, 2025, alongside the Reports of the Directors, Auditors, and the Audit Committee.
Other agenda items are the declaration of dividends, election and re-election of Directors, authorisation for Directors to determine the remuneration of the Auditors, and election/re-election of shareholders’ representatives to the Audit Committee.
In line with its commitment to transparency, accountability, and shareholder engagement, the AGM will be held physically while also being accessible to stakeholders via the company’s official website: www.championbreweries.com.
This year’s AGM comes at a defining moment in the organisation’s corporate journey, following a transformative year marked by strategic expansion initiatives, including the acquisition of Bullet Energy Drink and its successful engagement with the capital market to raise growth capital.
These developments reinforce Champion Breweries Plc’s commitment to strengthening its competitive positioning, expanding its portfolio, and delivering long-term shareholder value.
The brewer has strengthened its transition into a group structure with the acquisition of an 80 per cent stake in enJOYbev B.V., a strategic move already delivering early earnings contribution and validating its international expansion drive.
The subsidiary’s results are now being consolidated into the Group accounts for the first time, with enJOYbev B.V. already contributing positively to earnings through operating profitability within the reporting period, an early validation of the group’s expansion strategy.
“This AGM reflects a defining chapter in our journey as a Company. The acquisition of Bullet, our successful capital market engagement, and the integration of enJOYbev B.V. into our group structure all signal a deliberate strategy for sustainable growth and diversification.
“These milestones position Champion Breweries Plc for stronger performance, broader market reach, and enhanced shareholder value. We remain committed to disciplined execution, operational excellence, and the highest standards of corporate governance,” the chairman of Champion Breweries, Mr Imo Abasi Jacob, said.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled a unified Taxpayer Identification (Tax ID) system for all taxable persons across the country as part of efforts to strengthen tax administration and improve transparency.
The agency announced the development in a public notice issued jointly with the Joint Revenue Board (JRB) on Monday.
According to the notice, the initiative is backed by Sections 6, 7, and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a Tax ID, in a wider move to expand the country’s tax base.
The NRS said the new framework is designed to create a centralised and harmonised taxpayer database that would enhance interactions between taxpayers and revenue authorities at both federal and sub-national levels.
“The Tax ID will serve as a single, unified identity for all taxpayers, enabling seamless interaction with tax authorities at both federal and sub-national levels. It is designed to consolidate taxpayer records, eliminate duplication, and ensure more efficient management of tax-related information,” the agency stated.
The revenue agency explained that the new system would simplify tax compliance procedures, including taxpayer registration, filing of returns, and payment processes.
According to the NRS, the framework is also expected to improve accountability and reduce leakages in tax collection by creating better visibility and tracking of taxpayer information nationwide.
“The initiative will simplify tax compliance processes, including registration, tax filing, and payment procedures. The system will improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection. The framework will also harmonise taxpayer information across all levels of government,” the notice added.
The agency further disclosed that the new Tax ID system would replace the existing Tax Identification Number (TIN) Validation API currently used by Ministries, Departments and Agencies (MDAs), financial institutions, and other organisations for taxpayer verification.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis 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 transacted for N1.2 billion.
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