Economy
Japan, UNDP Distributes Agric Inputs to Farmers in Adamawa
By Dipo Olowookere
The United Nations Development Programme (UNDP), Adamawa State government and the Japanese government have flagged off the distribution of agricultural inputs in Loko, a village once hit by Boko Haram in Song Local Government Area in Adamawa State.
This intervention is part of ongoing efforts by UNDP to support victims of the Boko Haram insurgency in the three most affected States of Adamawa, Borno and Yobe.
At the height of the insurgency, which has so far claimed over 20,000 lives and caused billions of Dollars in damage to property and key infrastructure, over 2 million people were displaced across the region, some into neighbouring countries.
The return of peace to previously captured communities and declaration by respective States of their safety has facilitated voluntary steady return of populations to their places of origin – most of them still in need of basic infrastructure and sources of livelihoods for the families to survive.
UNDP is implementing a number of interventions in the North-East through close collaboration with State Authorities and funding support from partners including the Japanese government.
In 2018, Japan is providing $2.5 million which will facilitate implementation of initiatives to support 2,200 farmers and 500 small business. The investment will also facilitate the rehabilitation of five community infrastructures and an estimated 850 locals will be provided with emergency employment opportunities.
The agricultural inputs distribution exercise is targeted at 9000 households across the North-East region who will receive seeds, sprayers, fertilizer and farming tools for use during this year’s farming season – priority will be given to female-headed households.
During the flag off ceremony, solar lanterns donated by Panasonic, a Japanese company, were also distributed.
UNDP Deputy Country Director for Operations, Betty Wabunoha, reaffirmed UNDP’s commitment to supporting rebuilding efforts and livelihoods support to stimulate early recovery and lay a solid foundation for development to take place again in the region.
“Allow me to extended UNDP’s appreciation to the Government of Japan and Panasonic Corporation for the partnership and support in helping conflict affected communities in Nigeria,” Betty added.
Ambassador of Japan to Nigeria, Yutaka Kikuta, stated the North-East was an economically promising region adding it is the hope of the Government of Japan to see that interventions in the region help stabilize the affected communities and that the “joint-work of Japan’s public and private initiative will bring light, a brighter future to your lives in this region”.
He reassured that the Government of Japan will continue to support Nigeria’s efforts aimed at restoring stability and livelihoods for the communities in the North East region.
Mr Haruna Hamman Furo, Permanent Secretary of Adamawa State Emergency Management Agency extended appreciation to UNDP, the Government of Japan and Panasonic Corporation for the support. The ceremony was attended by Loko community members and representatives of Adamawa State Government.
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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