Economy
Isidore Brightens Spirits of Smallholder Farmers Affected by Floods
By Modupe Gbadeyanka
Last year, Nigeria witnessed one of its worst floods after a similar occurrence a decade earlier. The flooding wreaked havoc on farmlands and destroyed the livelihoods of many smallholder farmers.
Just when victims are feeling like all hope to restart their lives is lost, a Nigerian agritech startup, Isidore, is brightening their spirits.
According to the founder of Isidore, Ms Karen Adie, smallholder farmers are very critical to Nigeria and its food security, and they must not be left alone because it would affect the nation.
Isidore, a member of the Founders Factory Africa startup portfolio, provides access to capital, market linkages, and value-add tools to smallholder farmers. This is so that smallholder farmers can maximise income from their labour. Many of their customers are in the states worst affected by this year’s flooding.
With smallholder farmers making up 85 per cent of Nigeria’s farming community, floods like the ones experienced in Northern Nigeria in 2022 highlight the delicate balance these farmers maintain in providing for their families and themselves while feeding their surrounding communities.
“For farmers in low-lying areas like Argungu in Kebbi state, the floods were a terrible jeopardy. Many have lost their livelihood and their homes. Suddenly, we were faced with a COVID-level humanitarian crisis,” Ms Adie stated.
“The daily realities of these communities, which are usually impoverished, are real. Yet, they are facing the brunt of climate change, which has created an uncertainty they live with daily.
“Without smallholder farmers, hunger would skyrocket in northern Nigeria. These farmers are our partners. As Isidore, we had to do something,” she added.
She stated that her firm has come up with an initiative, Habitats for Hope Program, to bring succour to smallholder farmers in the country.
Run out of Isidore’s Lagos head office, the Habitats for Hope Program was founded to provide welfare support to grain farmers in rural agrarian communities, with farmers able to join the program by registering on Isidore’s Jinja platform.
“To join the program, you need to be a grain farmer, a member of a farming community or association, and be willing to use the Jinja platform. The platform allows us to directly interact with program beneficiaries quickly, with its existing infrastructure allowing us to scale the program at speed,” Adie explains.
“In terms of what we’ve achieved so far, we identified a total of 44 homes that need to be rebuilt – we split this into 3 phases; we’re currently in phase 1, working on the homes of 6 farmers.
“So far, since the program’s inception in October 2022, we’ve identified 44 homes that need to be rebuilt. The building program has been split into three phases. We are currently in phase 1, working on six homes destroyed by the flooding in Kebbi state. We have 40 local volunteers helping us and our beneficiaries rebuild their homes, and by extension, their communities, as quickly as possible,” she disclosed.
Ms Adie hopes that from these seeds, the program can work with over 200 farming communities in Nigeria by December 2024. Beyond flood assistance, the Habitats For Hope Program focuses more broadly on housing and living conditions, education and skills development, and healthcare and disease prevention.
“We could not just limit the program to housing and living conditions. If a farmer gets sick and cannot tend to their land, it directly impacts that farmer’s ability to feed themselves, their family, and the surrounding community that relies on them. Worse, it directly impacts that farmer’s livelihood, with the sale of excess crops being their primary source of income.
“Coupled with this, education can play a vital role in allowing farmers to increase crop yield and use new ways to farm their lands. A larger yield means greater food security and can make a tangible difference in farmers’ lives through the money they make selling their produce,” she stated.
With the program in its infancy, Ms Adie and the Isidore team are searching for partners to enlarge the program’s impact. Partners could contribute financially to procure materials and extend the program’s ability to develop affected communities.
The provision of volunteers, building materials, equipment, farming inputs, and healthcare is just as critical. Furthermore, access to training, skills development and other service contributions are being sought.
Business Post recalled that between August and October 2022, floods ravaged thousands of homes across northern Nigeria, with the states of Kebbi, Jigawa, Kano and Sokoto significantly affected.
It is believed that at least 30 people died due to the flooding, with survivors now having to pick up the pieces.
Beyond the destruction of homes and loss of life, the flooding represents a mortal threat to the livelihoods and food security of farmers and people living in flooded areas, with vital farmlands ruined and critical roads and bridges washed away.
Nigeria’s trading environment has changed sharply since the Central Bank of Nigeria pushed rates to 27.5%, and the impact is being felt across the currency market. A rate that high does more than tighten financial conditions. It changes how traders read momentum, how they manage risk, and how they think about the naira against the dollar. Reuters reported that the CBN raised the policy rate to 27.50% in November 2024 after a string of hikes, and later kept it there as inflation and exchange rate pressures remained central concerns.
For anyone active in Nigeria’s currency space, forex trading now requires a very different mindset. What worked in a looser money environment does not always work when rates stay this high. Liquidity behaves differently, sentiment shifts faster, and market participants become much more sensitive to inflation data, policy guidance, and reserve trends. Reuters also reported that the CBN has tied its tight stance to the need to control inflation and stabilize the market, while reforms have improved reserves and confidence in the foreign exchange system.
Why a 27.5% rate changes the market mood
A rate this high affects more than borrowing costs. It resets expectations. Traders start looking at the naira through a different lens because such an aggressive stance tells the market that policymakers are serious about defending stability, even if growth conditions become tougher. In Lagos and Abuja, where many traders track both official policy signals and real market pricing, that shift has become impossible to ignore.
Higher rates reshape risk appetite
When rates rise to this level, speculative behavior often becomes more cautious. Some traders reduce position sizes. Others stop chasing moves and wait for stronger confirmation before entering. Why does that happen? Because a tight policy environment tends to punish weak conviction and reward discipline.
There is also a psychological effect. A market with a 27.5% policy rate feels heavier. It is like driving on a road where every turn demands more care than before. That change in mood forces traders to become more selective, especially in a country like Nigeria where inflation and currency sentiment still move together closely. Reuters said inflation eased after a statistical rebase, but the central bank still held rates high because broader pressure had not disappeared.
The naira story is no longer just about panic
Nigeria’s currency narrative has also become more layered. Earlier fears were largely about shortages and disorder, but now traders are also watching reforms, reserves, and policy credibility. Reuters reported that net foreign exchange reserves rose strongly in 2025 and that the CBN said clearer rules and reforms had reduced distortions and volatility.
That matters because strategy changes when the market starts trusting policy a little more. Traders can no longer rely only on the old playbook of assuming one direction and staying there.
How trading strategies are being reset
The biggest reset is in time horizon. In a market shaped by tight policy, many traders become less comfortable with broad, lazy positioning. They look for cleaner setups and faster reactions instead. A currency market under heavy policy influence often rewards timing more than stubborn conviction.
Shorter setups are becoming more practical
Many Nigeria focused traders now pay closer attention to event driven opportunities. Central bank comments, inflation releases, reserve updates, and reform announcements matter more than they used to. Reuters reported in March 2026 that the CBN eased some foreign exchange rules for oil companies to improve market liquidity and confidence, another sign that policy decisions are still actively shaping the currency landscape.
That makes short and medium term strategy more relevant. You might see a naira move that looks technical on the surface, but underneath it is often responding to policy changes, liquidity shifts, or fresh confidence in reserves. In Nigeria, the chart and the macro story now feel more connected than before.
Risk management matters more than prediction
This is where serious traders separate themselves from hopeful ones. A high rate environment does not just reward the right view. It rewards survival. Traders in Port Harcourt or Lagos who stay too attached to a single bias can get caught when policy or liquidity changes suddenly alter the mood.
I have seen markets like this before. They look calm until they do not. Then the move comes fast. That is why many traders are adjusting stop placement, reducing leverage, and focusing more on capital protection than on chasing every opportunity.
The reset, in other words, is not only strategic. It is behavioral.
Why Nigeria’s market may keep evolving
The CBN’s policy stance has already pushed traders to adapt, but the story is still developing. Reuters reported in April 2025 that the central bank sold nearly $200 million to support the naira after tariff related market shocks, showing that officials remain willing to act when volatility becomes disruptive. Reuters also reported this month that the naira had been relatively stable, supported by dollar liquidity from bond investments and exporter repatriations.
Stability can create a different kind of opportunity
A more orderly market does not mean fewer opportunities. It means different ones. Instead of trading pure panic, participants may increasingly trade around policy credibility, flow trends, and relative stability. For Nigeria, that could mark an important shift.
That is why the 27.5% rate matters so much. It has forced traders to stop relying on old assumptions and start working with a market that is slowly becoming more policy driven, more selective, and in some ways more professional.
Conclusion
The CBN’s 27.5% policy rate is forcing a major reset because it changes how traders approach risk, timing, and market structure in Nigeria. High rates, stronger reserves, and ongoing reforms have made the naira story more complex than it was before, and that means strategy has to evolve as well.
For traders in Nigeria, the message is clear. This is no longer a market where old habits are enough. Tight policy has raised the standard, and the traders who adjust their methods are more likely to stay effective as the next phase of the currency story unfolds.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange weakened by 0.22 per cent on Tuesday, April 28, with the market capitalisation down by N4.8 billion to N2.420 trillion from N2.425 trillion, and the NASD Unlisted Security Index (NSI) down by 9.01 points to 4,044.96 points from 4,053.97 points.
During the session, the price of Central Securities Clearing System (CSCS) Plc went down by N1.82 to N767.05 per share from N78.87 per share, while FrieslandCampina Wamco Nigeria Plc appreciated by N1.90 to N100.00 per unit from N98.10 per unit.
According to data, the value of trades increased by 265.7 per cent to N27.1 million from N7.4 million units, and the volume of transactions surged by 305.2 per cent to 1.3 million units from 319,831 units, while the number of deals decreased by 6.9 per cent to 27 deals from 29 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with the sale of 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 59.8 million units exchanged for N4.0 billion, and Okitipupa Plc with 27.8 million units traded for N1.9 billion.
GNI Plc also finished as the most traded stock by volume on a year-to-date basis, with a turnover of 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units transacted for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
By Adedapo Adesanya
Pressure is beginning to mount on the Nigerian Naira in the different segments of the foreign exchange (FX) market despite an oil windfall triggered by the Middle East crisis.
On Monday, April 27, the domestic currency further weakened against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) by N16.47 or 1.2 per cent to N1,380.71/$1 from the previous day’s N1,364.24/$1.
It was not different against the Pound Sterling in the same market window, as it lost N16.04 to trade at N1,863.76/£1 versus Monday’s closing rate of N1,847.72/£1, and against the Euro, it slipped by N12.72 to close at N1,615.01/€1 versus N1,602.29/€1.
The Naira also depreciated against the Dollar at the black market yesterday by N5 to quote at N1,390/$1 compared with the previous price of N1,385, and at the GTBank forex counter, it further crashed by N9 to settle at N1,379/$1 compared with the preceding session’s N1,370/$1.
The continued decline of the Naira comes as traders increasingly seek other safe-haven currencies amid continued global disruptions.
The benefit awash in the global market is making foreign portfolio investors stay short in Nigerian markets. Despite this, the daily FX publication released showed that interbank turnover rose to $98.829 million across 78 deals, up from $76.65 million.
Meanwhile, the cryptocurrency market remained cautious, with Bitcoin (BTC) trading at $77,216.66 despite surging oil prices and geopolitical tensions over a potential extended US naval blockade of the Strait of Hormuz.
Analysts say the supply overhang has finally dried up, and the sellers who were spooked by macro shifts or quantum fears have already exited, leaving the market much thinner on the sell-side.
Investors will await decisions made by central banks this week. The US Federal Reserve will announce its rate decision later on Wednesday, while the European Central Bank (ECB) follows on Thursday.
Ethereum (ETH) gained 1.5 per cent to trade at $2,324.59, Dogecoin (DOGE) chalked up 1.4 per cent to sell for $0.1016, Solana (SOL) appreciated by 0.6 per cent to $84.85, Cardano (ADA) grew by 0.5 per cent to $0.2483, and Binance Coin (BNB) advanced by 0.2 per cent to $627.15.
However, TRON (TRX) depreciated by 0.6 per cent to $0.3224, and Ripple (XRP) lost 0.03 per cent to sell at $1.39, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were unchanged at $1.00 each.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 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