Economy
Helios Buys African Fertilizers from Louis Dreyfus
By Dipo Olowookere
The acquisition of 100 percent of Fertilizers and Inputs Holding B.V., which holds Louis Dreyfus Company’s Africa-based fertilizers and inputs operations has been acquired by Helios Investment Partners, a leading Africa-focused private investment firm.
In a statement issued by the firm, Helios said its bought the firm, which generates approximately $300 million in sales annually, so as to penetrated deeper into the African market.
Formerly part of SCPA Sivex International and acquired by LDC in 2011, the firm distributes fertilizers, crop protection products, seeds as well as industrial chemicals through a network spanning Angola, Burkina Faso, Cameroon, Ivory Coast, Madagascar, Mali and Senegal.
Since its establishment in the region in 1947, the company has been a leading distributor of crop inputs and industrial chemicals, leveraging its well-known brand, ‘La Cigogne’.
Fertilizers and Inputs Holding B.V. contributes to Africa’s economic development by helping improve agricultural yields through enhanced access to crop inputs and by encouraging local manufacturing through the supply of chemical ingredients. This includes the water purification industry, which is vital for the continent.
In addition, as part of its distribution activities, the Company educates and trains farmers and rural communities on agricultural best practices, facilitating the increase of farm productivity and rural incomes.
Alykhan Nathoo, Partner at Helios, commented: “We are excited to invest in a business that has considerable scale and a long history in its key markets. Louis Dreyfus Company has been successful at expanding its fertilizers and inputs distribution network in Africa, which stands to benefit from the growing size and sophistication of the continent’s agriculture and industry. We look forward to providing expansion capital and working with management and key stakeholders to accelerate the growth of the business.”
Souleymane Ba, Partner at Helios, added: “This transaction is a perfect example of Helios’ strategy of investing in core sectors of the economy to build pan-African champions. Agriculture, which employs nearly half of Africa’s labour force, is the most important contributor to Africa’s GDP; we are looking forward to using our experience in successfully growing other multi-country distribution platforms in this key sector, ultimately helping increase yields and incomes for African farmers.”
Gonzalo Ramírez Martiarena, Chief Executive Officer of Louis Dreyfus Company, said: “Our global fertilizers and inputs business has been expanding its reach, sales volumes and customer network in recent years. This transaction is fully in line with our strategy of concentrating on businesses in which we enjoy closer ties to product origination and farmer relationships. It will also allow us to strengthen our focus on forging partnerships in other geographies outside Africa. Through our Macrofertil brand, we can continue to deliver a diversified range of fertilizers and inputs products and high-quality services to our customers in the rest of the world.”
The closing of the transaction is subject to regulatory approvals and other customary conditions.
Credit Suisse acted as sole financial advisor to LDC on this transaction and Norton Rose Fulbright acted as LDC’s primary legal advisor. Standard Chartered and Société Générale acted as financial advisors and financing arrangers to Helios and Vinson & Elkins acted as Helios’ primary legal advisor.
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.
By Adedapo Adesanya
It was a horrible day for the Nigerian Naira in the different segments of the foreign exchange (FX) market on Monday, May 15, as its value further weakened against the United States Dollar.
In the black market window, the Naira lost N5 against the Dollar yesterday to sell for N1,390/$1 compared with the previous value of N1,385/$1, but at the GTBank forex counter, it remained unchanged at N1,383/$1.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), the Nigerian currency depreciated against the greenback by N2.66 or 0.19 per cent to sell for N1,373.70/$1 compared to last Friday’s rate of N1,371.04/$1.
Equally, it fell against the Pound Sterling in the same market segment by N9.05 to trade at N1,839.66/£1 versus N1,830.61/£1, and lost N5.42 on the Euro to close at N1,600.49/€1 versus N1,595.07/€1.
The performance of the local currency during the session indicates early worries despite all signals pointing to stability, amid improved Dollar sales by the Central Bank of Nigeria (CBN), with steady, higher oil receipts to bolster the nation’s reserves.
Activity at the market showed that turnover rose 57.3 per cent to $76.29 million on Monday from $48.49 million posted on Friday.
Over the weekend, S&P raised Nigeria’s credit ratings for the first time since 2012 and highlighted improved FX market liquidity and $10 billion turnover recorded in April 2026 as one of the major gains of the CBN-led FX reforms.
The agency said the liberalisation of the exchange rate has bolstered access to foreign currency and enabled a market-driven exchange-rate environment while supporting investor and consumer confidence.
Meanwhile, the cryptocurrency market was bullish on Monday as investors monitored developments in the Iran conflict and weighed the impact of surging oil prices on inflation and US interest-rate expectations.
Ethereum (ETH) gained 0.7 per cent to trade at $2,134.10, Cardano (ADA) rose by 0.6 per cent to $0.2515, Solana (SOL) expanded by 0.3 per cent to $85.11, Binance Coin (BNB) jumped 0.2 per cent to $643.29, TRON (TRX) increased by 0.03 per cent to $0.3565, and Bitcoin (BTC) advanced by 0.02 per cent to $76,912.12.
On the flip side, Dogecoin (DOGE) slid by 1.5 per cent to $0.1044, and Ripple (XRP) decreased by 0.5 per cent to $1.38, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.
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