Economy
FG Tasks Farmers On Periodic Check On Agric Products
By Dipo Olowookere
Minister of State for Agriculture and Rural Development, Mr Heineken Lokpobiri, has appealed to farmers and food handlers in the country to always carry out periodic examination of their products, to avoid fungal contamination, in order to protect public health, and secure good market for Nigeria’s agro-commodities.
Mr Lokpobiri made this call on Thursday at a one-day stakeholders’ sensitization workshop on the effects of mycotoxins on agricultural commodities, health and trade.
The Minister said, “It is imperative for both farmers and governmental agencies to adapt a better method to prevent fungal contamination of agricultural commodities during growing period, storage, handling, processing and transportation.”
He noted that over the years, Nigeria’s agricultural products have been exposed to pesticide residues and mycotoxins producing fungal, resulting in several rejections of some Nigeria’s agricultural produce by some trading partners, particularly the European Union (EU).
He noted that the risk of mycotoxins may affect growth performance and could be hazardous to consumers by reducing the quality of products and its market value, thereby resulting in commodity rejection in the international market.
Mr Lokpobiri added that, “These poisonous toxins produced by certain species of fungi, have profound adverse effects on the health of animals and humans, as they consume food from crops, poultry products, meat and fish infected by mycotoxins and have resulted in the cause of human and animal illnesses and deaths.”
The Minister called on farmers and other stakeholders along the food value chains to note that Nigeria has a tropical climate with an all year round high temperature and relative high humidity, and that this peculiarity provides good conditions for the growth of toxigenic molds. “The only way out from the adverse effects of these climatic factors on agricultural produce is to apply best agricultural practices at all material times”, the Minister stated.
Mr Lokpobiri therefore charged participants at the workshop to convey and spread the information on the negative and detrimental effects of consuming moldy products to the grassroots, adding that “In this regard, the knowledge you will acquire at this workshop would be of immense benefit not only to you, but the society at large.”
The Minister assured the workshop that his Ministry would continue to assist farmers and other stakeholders in improving the storage and handling of grains, nuts and other commodities in order to minimize the growth of molds to reduce the risk of contamination.
Earlier in his welcome remarks, Permanent Secretary of the Federal Ministry of Agriculture and Rural Development, Dr Shehu Ahmed, represented by the Coordinating Director, Nigeria Agricultural Quarantine Service in the Ministry, Dr Vincent Isegbe said that the workshop was organized to educate farmers, food handlers and all other relevant stakeholders in the agricultural sector on the harmful effects of mycotoxin contaminants to agricultural commodities and its consequential effects on animal and human health.
According to him, the workshop was also to mainstream information to all producers and consumers on its adverse effects on agricultural commodity trade.
He assured the participants that the Ministry was doing its best within its limited resources to assist farmers in many ways, especially when it affects crops during storage. He added that the Ministry was also partnering with relevant stakeholders in food production, processing, storage and handling along the food value chains to ensure that only safe food gets to the consumers’ table, as well as boost trade and quality of Nigeria’s agricultural produce.
In his goodwill message, Chairman, Senate Committee on Agriculture, Mr Abdullahi Adamu said his committee would continue to support the growth of Nigeria’s agricultural sector, and assured that the Nigeria Agriculture Quarantine bill would be passed by the National Assembly soon.
The Chairman, who was represented by a member of the committee, Senator Ovie Omo-Agege promised that the Senate Committee on Agriculture would work with the communiqué that would be presented to them at the end of the workshop.
Also, representative of UNIDO at the workshop, Prof Abimbola Uzomah said the unusual high level of mycotoxin is the cause of rejection of Nigeria’s agricultural products by the European Union (EU) and other countries.
She informed that UNIDO was flagging off a National Quality Infrastructure which requires the support of Nigeria for its success. She called for a policy in Nigeria to eliminate the menace, and disclosed that UNIDO was available to support, facilitate, train and teach stakeholders to enable the world do business with Nigeria.
Representative of the European Union, Ms Fatima Abdullahi Habib was hopeful that the workshop would have a positive impact in the control of mycotoxin in Nigeria.
In his contribution, representative of the National President of All Farmers Association of Nigeria (AFAN), Mr Daniel Okafor stressed the need for proper processing and packaging of Nigeria’s agricultural products for export.
He called for the replication of the sensitization workshop across the nation and the need to develop a common message in local languages for dissemination throughout the country.
Highlight of the event was the launching of a book on information in pictures on moldiness in agricultural commodities along food value chains for stakeholders and moisture meters for determination of moisture levels of grains by the Minister.
The Minister later donated an appreciable number of the book and moisture meters to farmers present at the workshop.
Related articles across the web
By Adedapo Adesanya
NASD Plc, which operates Nigeria’s Over-the-Counter (OTC) securities exchange, has reaffirmed its commitment to reinforcing its long-term strategic direction and governance framework.
The exchange recently convened its major shareholders, board members, and executive management at a high-level stakeholder retreat in Lagos.
NASD said, “The retreat held in Lagos brought together key institutional stakeholders for in-depth discussions on NASD’s evolving role within Nigeria’s capital market ecosystem.
“The engagement provided a structured platform for shareholders and management to align on strategic priorities necessary to deepen institutional strength, enhance market relevance, and support sustainable growth.”
The company noted that deliberations focused on the importance of strong shareholder collaboration, disciplined strategy execution, and equitable governance practices to further strengthen investor confidence and long-term value creation.
The statement added that participants exchanged views on navigating market complexity, adapting to regulatory and economic changes, and ensuring that the Exchange continues to operate in line with global best practices while addressing the specific needs of Nigeria’s over-the-counter market.
NASD emphasised that the retreat highlighted the critical role of close alignment among shareholders, the Board, and executive leadership in shaping the Exchange’s next phase of development. By encouraging open dialogue and shared strategic intent, the engagement reaffirmed NASD’s commitment to transparency, institutional resilience, and leadership within the capital market.
The session concluded with a group engagement reflecting the depth of experience, governance oversight, and collective responsibility guiding NASD’s strategic outlook as it continues to enhance its contribution to Nigeria’s financial market architecture.
NASD posted a standout performance in 2025, with its market diversification strategy delivering a surge in listings, deeper market activity, and a sharp expansion in market value across its alternative trading platforms.
Last year, the market capitalisation on the exchange more than doubled to N2.12 trillion, representing a 106 per cent increase from N1.03 trillion in 2024. The number of admitted securities also rose marginally to 47, up from 45 in the prior year, reflecting a 4 per cent growth.
The NASD Securities Index (NSI) rose by 18 per cent to 3,543.74 points, compared with 3,002.68 points in 2024. Similarly, the NASD Pension Index advanced by 21 per cent to 1,032.88 points, up from 954.33 points.
Trading volumes surged significantly during the year. Total volume traded climbed to 14.03 billion units, marking a 377 per cent increase from 2.98 billion units in 2024. However, this sharp rise in volume contrasted with a decline in transaction value, which fell by 43 per cent to N59.29 billion, down from N103.96 billion in 2024.
The total number of deals executed on the platform dropped to 6,456, representing a 26 per cent decline from 8,724 deals recorded the previous year, indicating fewer but larger or more strategic transactions.
The exchange also recorded notable listings in 2025, with Infrastructure Credit Guarantee Company PLC (InfraCredit), Paintcom Investment Nigeria PLC (Paintcom), and MRS PLC admitted to trading.
By Bon Peters
The Area 1 Command of the Nigeria Customs Service (NCS) in Port Harcourt, Rivers State, surpassed its 2025 revenue target by generating about N288.8 billion.
In the preceding financial year, the command generated N200.8 billion as revenue, indicating a year-on-year growth of 43.83 per cent.
Addressing journalists in Port Harcourt, the Customs Area 1 Controller, Comptroller Salamatu Atuluku, disclosed that the target for the command last year was N216.9 billion, indicating that this was surpassed by N71.8 billion or 33.1 per cent.
She attributed this achievement to the effectiveness of improved compliance monitoring, enhanced cargo examination processes, automation-driven controls, and sustained stakeholder sensitization.
According to her, the monthly revenue performance remained consistently strong throughout the year, with the highest collection recorded in October 2025 at N33.7 billion.
On export trade facilitation, she hinted that in line with the federal government’s economic diversification agenda, the command intensified efforts toward facilitating legitimate export trade, adding that within the year under review, it processed a total export volume of over a million metric tons, comprising both oil and non-oil commodities with a Free on Board (FOB) value of $463.6 million, which she said contributed meaningfully to Nigeria’s foreign exchange earnings.
In addition, Ms Atuluku stated that N838.02 million was paid as Nigeria Export Supervision Scheme (NESS) charges for both oil and non-oil exports during the year, noting that this reflected an increased exporter participation, improved documentation compliance, and the command’s deliberate efforts to streamline export procedures while ensuring adherence to extant regulations.
On anti-smuggling and enforcement activities, it was disclosed that the command sustained vigorous enforcement operations throughout 2025, deploying intelligence-led interventions, risk profiling, and routine cargo examinations to curb smuggling and protect national interests, resulting in the interception of undeclared pharmaceutical products at the NACHO shed.
The items intercepted included Progesterone 100mg/2ml, and Isifrane IP 250ml among others, discovered in three packages without the mandatory NAFDAC regulatory certification, contrary to import guidelines governing pharmaceutical products, the Controller stated.
In the year under review, the personnel of the command benefitted from periodic training programs, sensitization sessions, operational briefings, and system-focused engagements, particularly in areas of customs automation, risk management, enforcement procedures, and trade facilitation.
On infrastructural development, the command renovated the Quarter Guard, thereby enhancing access control, security coordination, and command presence at the main entry point, including the Command Staff Clinic which was renovated and upgraded to improve healthcare delivery and working conditions for medical personnel, and beneficiaries.
Also, the command executed a Corporate Social Responsibility (CSR) intervention on December 11, 2025, at the Model Primary School I and II, Orominike, D-Line, Port Harcourt, with the donation of customs-branded notebooks, school bags, and school uniforms, aimed at supporting basic education and easing the burden on pupils and parents within the host community.
By Adedapo Adesanya
Five securities caused the NASD Over-the-Counter (OTC) Securities Exchange to experience a setback of 0.64 per cent on Monday, February 2.
During the first trading session of February 2026, FrieslandCampinaWamco Nigeria Plc shrank by N4.46 to end at N63.54 per unit versus the previous session’s N68.00 per unit, as Okitipupa Plc depreciated by N3.83 to close at N230.77 per share versus last Friday’s N234.60 per share.
Further, Central Securities Clearing System (CSCS) dropped 50 Kobo to sell at N40.00 per unit compared with the previous closing price of N40.50 per unit, UBN Property Plc dipped by 21 Kobo to N1.99 per share from N2.20 per share, and Acorn Petroleum Plc lost 3 Kobo to end at N1.35 per unit versus N1.38 per unit.
As a result, the market capitalisation went down by N13.98 billion to settle at N2.158 trillion, in contrast to the previous value of N2.171 trillion, and the NASD Unlisted Security Index (NSI) contracted by 23.35 points to settle at 3,606.76 points compared with last Friday’s closing value of 3,630.11 points.
Amid the loss, Geo-Fluids Plc managed to finish green after it chalked up 9 Kobo to sell at N6.84 per share versus the N5.75 per share it ended in the last trading day.
Yesterday, the volume of securities traded by investors surged by 1,238.5 per cent to 3.9 million units from 287,618 units, the value of securities increased by 1,075.2 per cent to N36.0 million from N3.1 million, and the number of deals soared by 90.5 per cent to 40 deals from 21 deals.
At the close of trades, CSCS Plc remained the most traded stock by value (year-to-date) with 15.4 million units valued at N623.9 million, followed by FrieslandCampina Wamco Nigeria Plc with 1.7 million units worth N110.2 million, and Geo-Fluids Plc with 10.6 million units sold for N69.9 million.
CSCS Plc was also the most active stock by volume (year-to-date) with 15.4 million units traded for N623.9 million, trailed by Geo-Fluids Plc with 10.6 million units worth N69.9 million, and Mass Telecom Innovation Plc with 10.1 million units transacted for N4.1 million.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn