Economy
Golden Fertilizer Celebrates Business Partners, Rewards Top Performers
Golden Fertilizer, a subsidiary of Flour Mills of Nigeria Plc (FMN), recently hosted its Golden Fertilizer Trade Forum.
The event which took place at Bristol Palace Hotel, Tarauni, Kano, brought together the company’s valuable trade partners and business partners to deliberate on progressive strategies on how to effectively navigate various unprecedented changes in the business environment.
The company also recognized and awarded outstanding business partners for their loyalty and support to the brand over the past years.
The Golden Fertilizer Trade Forum was a two-part event, featuring an awards ceremony during the day and a celebratory dinner party in the evening.
The awards ceremony was designed to reward top-performing dealers and foster a healthy competitive environment that encourages better performance in the coming year.
Among the top winners were Nafsiyya Nigeria Ltd from Katsina State, who won N7 million, Shagumba Ventures Nigeria Ltd from Katsina State, who won N5.5 million, and Broda Integrated Services from Katsina State, who won N5 million.
Additionally, Nura Dogo Trading Company Limited from Kaduna State won N4.5 million, Usman Abubakar from Kano State won N4 million, and Bello Ladan Kuchi Enterprises from Sokoto State won N3.5 million.
In his appreciation statement, Mr Falade Olusegun Isaac, General Manager, Golden Agri Inputs Ltd (GAIL) said, “Our business strategy as a Group is also premised on the need to nurture valuable partnerships to ensure that we create a shared value system for all our stakeholders.
“It is, therefore, in demonstration of this mandate that we have the Golden Fertilizer Trade Forum to reward and appreciate our trade partners for their invaluable contributions to the growth of the business, and unanimously chat the cause for an envisaged future.”
Also speaking on the rewarding nature of the Trade Forum, Mr Tayo Ilori, General Manager, FertiGail noted, “The Golden Fertilizer Trade Forum is mostly an annual event designed to appreciate our Trade Partners for their loyalty in the cause of the year.
“The event also allows us to listen and get feedback from our end users to ensure that we produce what the market needs and requires at any given point in time.
“As a business, the Golden Fertilizer Company is committed to carrying out its operations in line with global standards and best practices thus, our consistent offerings of superior quality products to our customers.”
The company’s unwavering commitment to supporting the agricultural sector is underpinned by the dedicated efforts of its people and the invaluable loyalty of its trade partners, who play a crucial role in ensuring that Golden Fertilizer’s products reach customers nationwide.
As a leading producer of viable agricultural inputs for farmers, Golden Fertilizer assists farmers by helping them achieve optimal yields in line with global standards and best practices.
As Golden Fertilizer continues to pioneer innovative solutions in the agricultural sector, events like the Trade Forum serve as a testament to the company’s dedication to nurturing lasting relationships with its partners and driving sustainable growth in the industry.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) 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 traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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