Economy
Flour Millers Plans Wheat Procurement Centres in Kano, Others
By Adedapo Adesanya
The Flour Milling Association of Nigeria (FMAN) has said that it would establish wheat procurement centres across 15 Northern states of the country to off-take all grains from about 150,000 farmers under the Anchor Borrower Programme (ABP).
This was disclosed by Mr Aliyu Samaila, FMAN’s National Programme Manager, Wheat Development Project, at the Green wheat farmers’ field day at Gawon-Bature near Dambatta Local Government Area of Kano state.
According to Mr Samaila, the FMAN’s wheat programme was being implemented through the ABP of the Central Bank of Nigeria (CBN) and its beneficiaries include Kano; Kaduna; Jigawa; Kebbi; Sokoto; Bauchi; Adamawa; Katsina; Gombe; Plateau; Taraba; Zamfara; Niger; and Yobe.
”The programme adopted proactive farmer support services to sustainably encourage wheat production and yields per hectare, to enable it to compete with rice and other dry season crops in the 2021-2022 dry season activities.
”The programme had resulted in the cultivation of 504 demonstration farms on 0.5 ha each, across the 15 states, to provide training on Good Agronomic Practices (GAP) to 250,000 farmers under the CBN ABP,” he explained.
Mr Samaila further said plans were on to expand the scope of its direct out-grower scheme, through the provision of input loans to 2,000 farmers in Kano; Jigawa; Sokoto; Kebbi; Kaduna; Bauchi; and Gombe states.
The Programme Manager added that the programme would also expand seed production with six certified seed companies, including both dry and wet season seed production, to produce sufficient seeds for the 5,000 out-growers next season.
According to him, the programme was cultivating a 10-hectare research farm in Jigawa, for testing new seed varieties and for improved agronomic practices.
Mr Samaila added that the project was being implemented in collaboration with the Lake Chad Research Institute and the International Centre for Agricultural Research and Development (ICARDA).
He also said that FMAN provided grant funding to the National Agricultural Seeds Council to expand their capabilities on testing seed quality, certifying seed production and training farmers to differentiate between high-quality seeds, from others in the market.
He said that the country required a strong vision backed by clear roles and responsibilities for all stakeholders.
The FMAN official added that the association would organise state-wide field days in all their major areas of operation, to bring together key stakeholders in order to address challenges and learn from each other.
“We would also organise wheat farmers’ Yield Championship at the end of the season, to recognise the highest performing farmer.
“We are looking forward to partnering with organisations across the value chain to improve farmer yields through high-quality seeds, expanded extension services, and improved access to irrigation,” he said.
On his part, the Deputy Governor of Kano State, Mr Nasiru Gawuna lauded the initiative, said that it would boost wheat cultivation in the area.
The state Commissioner for Agriculture, represented by Abdulkarim Sani, Director Agricultural Services, said the state government had introduced programmes to support wheat farmers in the state.
Adding his input, Mr Salim Muhammad, National President, Wheat Farmers Association of Nigeria, commended FMAN and the CBN for the wheat farmers’ support programme.
Mr Muhammad also reminded wheat farmers to repay the loan as stipulated in the preconditions for ABP loans, adding that loan repayment should be timely, to enable others to benefit from the scheme.
Economy
46 Stocks Gain Weight, 53 Equities Lose on NGX in One Week
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited was bullish last week despite investors’ mood swing, triggered by happenings in the country and across the globe, especially the Middle East crisis.
The All-Share Index (ASI) and the market capitalisation appreciated week-on-week by 3.94 per cent to 225,722.49 points and N145.335 trillion, respectively.
Similarly, all other indices finished higher with the exception of the growth and commodity indices, which depreciated by 0.02 per cent and 0.41 per cent, respectively, while the sovereign bond index closed flat.
A look at the price changes of shares in the five-day trading week showed that
46 stocks gained weight versus 61 stocks of the previous week, 53 equities shed weight compared with 36 equities a week earlier, and 47 shares closed flat, in contrast to 49 shares of the preceding week.
UAC Nigeria led the gainers’ chart after it chalked up 42.00 per cent to trade at N142.00, Union Dicon appreciated by 32.73 per cent to N21.90, NASCON expanded by 32.63 per cent to N206.90, Trans-Nationwide Express rose by 30.58 per cent to N7.90, and Zichis improved by 25.71 per cent to N15.60.
On the flip side, Infinity Trust Mortgage Bank led the losers’ group after it gave up 50.79 per cent to close at N9.35, Abbey Mortgage Bank declined by 33.33 per cent to N5.40, Guinea Insurance slipped by 15.20 per cent to N1.06, Stanbic IBTC lost 13.82 per cent to settle at N162.50, and Living Trust Mortgage Bank slumped by 10.98 per cent to N3.65.
As for the activity log, Customs Street recorded a turnover of 3.805 billion shares worth N213.955 billion in 297,202 deals in the week compared with 3.588 billion shares valued at N195.313 billion transacted in 254,553 deals in the previous week.
Financial stocks led the activity chart with 2.739 billion units sold for N106.269 billion in 135,101 deals, contributing 71.99 per cent and 49.67 per cent to the total trading volume and value, respectively.
Services equities traded 212.324 million units worth N4.024 billion in 17,042 deals, and consumer goods shares exchanged 180.076 million units valued at N13.269 billion in 32,457 deals.
Access Holdings, UBA, and First Holdco were the busiest with 814.060 million units traded for N39.032 billion in 37,195 deals, contributing 21.40 per cent and 18.24 per cent to the total equity turnover volume and value, respectively.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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