Economy
Mahindra Begins Farm-To-Folk Initiative in Nigeria
By Dipo Olowookere
An end-to-end farm mechanization solution called Farm-To-Folk initiative has been launched in Nigeria by Springfield Agro Limited, a Kewalram Chanrai Group company, in partnership with Mahindra & Mahindra Ltd., a part of the $19 billion Mahindra Group with a growing global presence.
The initiative aims to develop agriculture and farming ecosystem in Nigeria and provide customized farming solutions for every need of the farming community.
It was launched in Nigeria in collaboration with the Katsina State government.
Under the aegis of this initiative the company will not only provide tractors and farm equipment solutions, but also be a key enabler in knowledge dissemination. Springfield Agro and Mahindra will setup agric centres across the state – Chibiyar Chi Gaban Manoma – Gromost Centre. The Gromost Centre will be a one-stop-shop to empower farmers with the knowledge of soil, seeds, micro-irrigation and harvesting as well as the relevant method for caring of crops.
Farmers from every region and capacity will benefit from these Gromost Centres. This in turn will drive Farm Tech Prosperity and contribute immensely to the growth of Agriculture and Farming in Nigeria.
The launch agenda will also include the commissioning of 225 tractors by the Katsina State Governor, Mr Aminu Masari, in line with the government’s effort to encourage farming and increase support for the growth of farmers’ unions and other agro-based associations.
Mr Masari, represented by the Deputy Governor, Mr Mannir Yakubu, at the launch said, “Our intention is to deploy adequate farm machineries and mechanization to a level that will boost agricultural productivity to at least 50 percent of international standards.”
Speaking on the Farm to Fork initiative, Mr Ashok Thakur, Vice President & Head of Operations-Africa Business, Mahindra & Mahindra Ltd., said, “At Mahindra, our core belief is that an informed farmer is an empowered farmer and we are delighted to provide them with resources to reap the most from what they sow.
“In fact, we have moved beyond just selling tractors and the idea is to enrich the farmers’ knowledge and ultimately drive Farm Tech Prosperity and help them Rise. The launch of the Gromost Centre in Katsina state is in line with this philosophy.”
Mr Thakur further added that, “For decades now, Mahindra has been partnering in the growth story of Africa. The idea behind launching Gromost Centres is to further boost local employment, aid local sourcing, disseminate knowledge, enhance skill sets and offer custom made solutions.”
Tarun Kumar Das, Managing Director, Springfield Agro said, “Private sector investment in agriculture is the panacea to diversifying Nigeria’s economy.
“We need to deepen alliances and invest in new solutions. More importantly we want to be part of the smallholder farmer’s story by helping them rise. Given the proper support, the smallholder farmers can feed the future of the country and the continent.”
Speaking at the media briefing announcing this initiative, representative of the Katsina state government, Dr Abba Abdullah, Special Advisor to the Governor on Agriculture said, “The small window available for sowing & harvesting enhances the need for mechanization in agriculture.
“There is stagnation in productivity because of the low mechanization level & low permeation of technology and this is the gap we hope to bridge.”
Speaking further on this collaboration, Mr Das added that “the Katsina State Government, along with institutional partners like TOOAN, NIRSAL and Access Bank, deserve commendation and we appeal to other states to emulate their actions.”
Mahindra and Mahindra is the largest tractor manufacturer in the world with a tractor assembly plant commissioned by Springfield Agro in Nigeria, which has a manufacturing capacity of 5,000 tractors and associated agricultural.
It produces various ranges of tractors from 25Hp to 80Hp to cater to a wide spectrum of customers’ needs. Over the years, it has created thousands of satisfied customers in Nigeria and millions across the world.
The Katsina State Government with its current leadership is keen to increase food production and food security for its teeming population.
The administration is making all efforts to ensure sustainable development while improving income and quality of life for its resource-poor population in villages, with special emphasis on Farm Tech Prosperity.
By Adedapo Adesanya
The domestic supply of Premium Motor Spirit (PMS), also known as petrol, from the Dangote Refinery increased by 64.4 percent in December 2025, contributing to an enhancement in Nigeria’s overall petrol availability.
This is according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in its December 2025 Factsheet Report released on Thursday.
The downstream regulatory agency revealed that the private refinery raised its domestic petrol supply from 19.47 million litres per day in November 2025 to an average of 32.012 million litres per day in December, as it quelled any probable fuel scarcity associated with the festive month.
The report attributed the improvement to more substantial capacity utilisation at the Lagos-based oil facility, which reached a peak of 71 per cent in December.
The increased output from Dangote Refinery contributed to a rise in Nigeria’s total daily domestic PMS supply to 74.2 million litres in December, up from 71.5 million litres per day recorded in November.
The authority also reported a sharp increase in petrol consumption, rising to 63.7 million litres per day in December 2025, up from 52.9 million litres per day in the previous month.
In contrast, the domestic supply of Automotive Gas Oil (AGO) known as diesel declined to 17.9 million litres per day in December from 20.4 million litres per day in November, even as daily diesel consumption increased to 16.4 million litres per day from 15.4 million litres per day.
Liquefied Petroleum Gas (LPG) supply recorded modest growth during the period, rising to 5.2 metric tonnes per day in December from 5.0 metric tonnes per day in November.
Despite the gains recorded by Dangote Refinery and modular refineries, the NMDPRA disclosed that Nigeria’s four state-owned refineries recorded zero production in December.
It said the Port Harcourt Refinery remained shut down, though evacuation of diesel produced before May 24, 2025, averaged 0.247 million litres per day. The Warri and Kaduna refineries also remained shut down throughout the period.
On modular refineries, the report said Waltersmith Refinery (Train 2 with 5,000 barrels per day) completed pre-commissioning in December, with hydrocarbon introduction expected in January 2026. The refinery recorded an average capacity utilisation of 63.24 per cent and an average AGO supply of 0.051 million litres per day
Edo Refinery posted an average capacity utilisation of 85.43 per cent with AGO supply of 0.052 million litres per day, while Aradel recorded 53.89 per cent utilisation and supplied an average of 0.289 million litres per day of AGO.
Total AGO supply from the three modular refineries averaged 0.392 million litres per day, with other products including naphtha, heavy hydrocarbon kerosene (HHK), fuel oil, and marine diesel oil (MDO).
The report listed Nigeria’s 2025 daily consumption benchmarks as 50 million litres per day for petrol, 14 million litres per day for diesel, 3 million litres per day for aviation fuel (ATK), and 3,900 metric tonnes per day for cooking gas.
Actual daily truck-out consumption in December stood at 63.7 million litres per day for petrol, 16.4 million litres per day for diesel, 2.7 million litres per day for ATK and 4,380 metric tonnes per day for cooking gas.
By Adedapo Adesanya
The Securities and Exchange Commission (SEC) has introduced a comprehensive revision of minimum capital requirements for nearly all capital market operators, marking the most significant overhaul since 2015.
The changes, outlined in a circular issued on January 16, 2026, obtained from its website on Friday, replace the previous regime. Operators have been given until June 30, 2027, to comply.
The SEC stated that the reforms aim to strengthen market resilience, enhance investor protection, discourage undercapitalised operators, and align capital adequacy with the evolving risk profile of market activities.
According to the circular, “The revised framework applies to brokers, dealers, fund managers, issuing houses, fintech firms, digital asset operators, and market infrastructure providers.”
Some of the key highlights of the new reforms include increment of minimum capital for brokers from N200 million to N600 million while for dealers, it was raised to N1 billion from N100 million.
For broker-dealers, they are to get N2 billion instead of the previous N300 million, reflecting multi-role exposure across trading, execution, and margin lending.
The agency said fund and portfolio managers with assets above N20 billion must hold N5 billion, while mid-tier managers must maintain N2 billion with private equity and venture capital firms to have N500 million and N200 million, respectively.
There was also dynamic rule as firms managing assets above N100 billion must hold at least 10 per cent of assets under management as capital.
“Digital asset firms, previously in a regulatory grey area, are now fully covered: digital exchanges and custodians must maintain N2 billion each, while tokenisation platforms and intermediaries face thresholds of N500 million to N1 billion. Robo-advisers must hold N100 million.
“Other segments are also affected: issuing houses offering full underwriting services must hold N7 billion, advisory-only firms N2 billion, registrars N2.5 billion, trustees N2 billion, underwriters N5 billion, and individual investment advisers N10 million. Market infrastructure providers carry some of the highest obligations, with composite exchanges and central counterparties required to maintain N10 billion each, and clearinghouses N5 billion,” the SEC added.
By Aduragbemi Omiyale
The founder and chief executive of Austin Laz and Company Plc, Mr Asimonye Austin Lazarus Azubuike, has sold off about 52.24 million shares of the organisation.
The stocks were offloaded in 11 tranches at an average price of N4.36 per unit, amounting to about N227.8 million.
The transactions occurred between December 2025 and January 2026, according to a notice filed by the company to the Nigerian Exchange (NGX) Limited on Friday.
Business Post reports that Austin Laz is known for producing ice block machines, aluminium roofing, thermoplastics coolers, PVC windows and doors, ice cream machines, and disposable plates.
The firm evolved from refrigeration sales to diverse manufacturing since its incorporation in 1982 in Benin City, Edo State, though facing recent operational halts.
According to the statement signed by company secretary, Ifeanyi Offor & Associates, Mr Azubuike first sold 1.5 million units of the equities at N2.42, and then offloaded 2.4 million units at N2.65, and 2.0 million units at N2.65.
In another tranche, he sold another 2.0 million units at a unit price of N2.91, and then 5.0 million units at N3.52, as well as about 4.5 million at N3.87 per share.
It was further disclosed that the owner of the company also sold 9.0 million shares at N4.25, and offloaded another 368,411 units at N4.66, then in another transaction sold about 6.9 million units at N4.67.
In the last two transactions he carried out, Mr Azubuike first traded 10.0 million units equities at N5.13, with the last being 8.5 million stocks sold at N5.64 per unit.
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