Economy
NAFDAC, Dangote Salt to Sanitize Food Market
By Dipo Olowookere
The management of Dangote Salt and the National Agency for Food and Drugs Administration and Control (NAFDAC) have expressed their readiness to collaborate and corroborate efforts to rid the food market of unwholesome practices by unscrupulous traders.
The two managements resolved to work together closely to monitor the quality of products that are delivered to the market after ascertaining that the right quality of products are taken out of the factory.
The management of NASCON Allied Industries Plc led by the Managing Director, Mr Paul Ferrer and the Dangote Group’s Chief Corporate Communication Officer, Mr Anthony Chiejina had paid the Agency Director-General, Mrs Yetunde Oni a courtesy visit in her office in Lagos.
Mr Ferrer had expressed satisfaction at the efforts of the Agency leadership to sanitise the food market by getting rid of fake and substandard products and turning the heat on the perpetrators, adding that the efforts had paid off.
He however explained that he observed an infringement on the directives of the agency on the packaging of industrial salts by some undesired elements.
According to him, contrary to the directives of the NAFDAC that industrial salt should only be packaged in 50kg, his organization observed the existence of the industrial salt in small sizes as 5kg, 10kg, 15kg, and 20kg.
He reasoned that someone somewhere has been has been repackaging the 50kg size to smaller sizes and supplying to the markets, a development he said is dangerous as people may be misled to be buying the industrial salt in place of the table salt which comes in the smaller sizes.
The Dangote Salt boss therefore enjoined NAFDAC to help see to the development as the unsuspecting consumers might not know the difference between the iodised table salt and the industrial salt .
In her response, Mrs Oni thanked the NASCON management for the confidence reposed in her Agency. She said the observation was one of the many infringements the her agency has been battling tooth and nail and that the NAFDAC management would not relent in the fight against every infringement to see that the people have access to right quality products always.
She advised companies in the food sector to have a Post-Market Surveillance (PMS) unit in their establishment for self-regulation of their market to make enforcement easier for NAFDAC.
According to her, investigations have shown that right quality products are taken out of the factory for distribution into the market but on getting to the market, some products quality would have been diluted and repackaged as the case may be suggesting that the repackaging and dilution of quality happened along the value chain by unscrupulous element.
Mrs Oni said the Agency would not accept a situation where some criminals would be clandestinely diluting genuine brands saying that amounts counterfeiting and which must be dealt with, hence the need for primary self-regulation by the companies through the PMS unit which will collate intelligence and hand them over to NAFDAC for enforcement.
Said she “we are solidly behind the food sector, the sector is dear to us. We can do mop-up as we did in juice sector, we will go on random sampling, to ascertain the product quality and the sustenance of the quality. The establishment of the PMS unit is the way to go, to actually tackle this menace. The value chain has to be monitored.”
The NAFDAC boss called on the collaboration between the agency the food producers and help retool the Agency laboratory and in the area of provision of operational vehicles to make the Agency more effective, because Nigeria has a large market.
In his remark, Mr Anthony Chiejina thanked the Agency for the readiness to act fast and also promised that the Dangote Group would be willing to assist the Agency in getting some operational equipment will make it more efficient and effective to carry out its mandate.
Dangote Group, according to him, is passionate about giving the people the best quality possible in all its arrays of product and would go to any length to ensure nothing detract from the quality produced and that taken to the market for the people to consume.
By Adedapo Adesanya
The supply of Premium Motor Spirit (PMS), also known as petrol, increased by 55.4 per cent on a month-on-month basis to 71.5 million litres per day in November 2025 from 46 million litres per day in October.
This was contained in the November 2025 fact sheet of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Monday.
The data showed that the nation’s consumption also increased by 44.5 per cent or 37.4 million litres to 52.1 million litres per day in November 2025, against 28.9 million litres in October.
The significant increase in petrol supply last month was on account of the imports by the Nigerian National Petroleum Company (NNPC) Limited into the Nigerian market from both the domestic and the international market.
Domestic refineries supplied in the period stood at 17.1 million litres per day, while the average daily consumption of PMS for the month was 52.9 million litres per day.
The NMDPRA noted that no production activities were recorded in all the state-owned refineries, which included Port Harcourt, Warri, and Kaduna refineries, in the period, as the refineries remained shut down.
According to the report, the imports were aimed at building inventory and further guaranteeing supply during the peak demand period.
Other reasons for the increase, according to the NMDPRA, were due to “low supply recorded in September and October 2025, below the national demand threshold; the need for boosting national stock level to meet the peak demand period of end of year festivities, and twelve vessels programmed to discharge into October, which spilled into November.”
On gas, the average daily gas supply climbed to 4.684 billion standard cubic feet per day in November 2025, from the 3.94 bscf/d average processing level recorded in October.
The Nigeria LNG Trains 1-6 also maintained a stable processing output of 3.5 bscf/d in November 2025, but utilisation improved slightly to 73.7 per cent compared with 71.68 per cent in October.
The increase, according to the report, was driven by higher plant utilisation across processing hubs and steady export volumes from the Nigeria LNG plant in Bonny.
“As of November 2025, Nigeria’s major gas processing facilities recorded improved output and utilisation levels, with the Nigeria LNG Trains 1-6 processing 3.50 billion standard cubic feet per day at a utilisation rate of 73.70 per cent.
“Gbaran Ubie Gas Plant processed 1.250 bscf per day, operating at 71.21 per cent utilisation, while the MPNU Bonny River Terminal recorded a throughput of 0.690 bscf per day during the period. Processing activities at the Escravos Gas Plant stood at 0.680 bscf per day, representing a 62 per cent utilisation rate, whereas the Soku Gas Plant emerged as the top performer, processing 0.600 bscf per day at 96.84 per cent utilisation,” it stated.
By Aduragbemi Omiyale
The proposed share reconstruction of a local gaming firm, Secure Electronic Technology (SET), has been suspended.
The Lagos-based company decided to shelve the exercise after negotiations with potential investors crumbled like a house of cards.
Secure Electronic Technology was earlier in talks with some foreign investors interested in the organisation.
Plans were underway to restructure the shares of the company, which are listed on the Nigerian Exchange (NGX) Limited.
However, things did not go as planned as the potential investors pulled out, leaving the board to consider others ways to move the firm forward.
Confirming this development, the company secretary, Ms Irene Attoe, in a statement, said the board would explore other means to keep the company running to deliver value to shareholders.
“This is to notify the NGX and the investing public that a meeting of the board of SET held on Tuesday, December 16, 2025, as scheduled, to consider the status of the proposed share reconstruction and recapitalisation as approved by the members at the Extraordinary General Meeting (EGM) held on April 16, 2025.
“After due deliberations, the board wishes to announce that the proposed share reconstruction will not take place as anticipated due to the inability of the parties to reach a convergence on the best and mutually viable terms.
“Thus, following an impasse in the negotiations, and the investors’ withdrawal from the transaction, the board has, in the interest of all members, decided to accept these outcomes and move ahead in the overall interest of the business.
“The board is committed to driving the strategic objectives of SEC and to seeking viable opportunities for sustainable growth of the company,” the disclosure stated.
Business Post reports that the share price of SET crashed by 3.85 per cent on Tuesday on Customs Street on Tuesday to 75 Kobo. Its 52-week high remains N1.33 and its one-year low is 45 Kobo. Today, investors transacted 39,331,958 units.
By Adedapo Adesanya
Clea, a blockchain-powered platform that allows African importers to pay international suppliers in USD while settling locally, has officially launched.
During its pilot phase, Clea processed more than $4 million in cross-border transactions, demonstrating strong early demand from businesses navigating the complexities of global trade.
Clea addresses persistent challenges that African importers have long struggled with, including limited FX access, unpredictable exchange rates, high bank charges, fraudulent intermediaries, and payment delays that slow or halt shipments. The continent also faces a trade-finance gap estimated at over $120 billion annually, limiting importers’ ability to access the FX and financial infrastructure needed for timely international payments by offering fast, transparent, and direct USD settlements, completed without intermediaries or banking bottlenecks.
Founded by Mr Sheriff Adedokun, Mr Iyiola Osuagwu, and Mr Sidney Egwuatu, Clea was created from the team’s own experiences dealing with unreliable international payments. The platform currently serves Nigerian importers trading with suppliers in the United States, China, and the UAE, with plans to expand into additional trade corridors.
The platform will allow local payments in Naira with instant access to Dollars as well as instant, same-day, or next-day settlement options and transparent, traceable transactions that reduce fraud risk.
Speaking on the launch, Mr Adedokun said, “Importers face unnecessary stress when payments are delayed or rejected. Clea eliminates that uncertainty by offering reliable, secure, and traceable payments completed in the importer’s own name, strengthening supplier confidence from day one.”
Mr Osuagwu, co-founder & CTO, added, “Our goal is to make global trade feel as seamless as a local transfer. By connecting local currencies to global transactions through blockchain technology, we are removing long-standing barriers that have limited African importers for years.”
According to a statement shared with Business Post, Clea is already working with shipping operators who refer merchants to the platform and is also engaging trade associations and logistics networks in key import hubs. The company remains fully bootstrapped but is open to strategic investors aligned with its mission to build a trusted global payment network for African businesses.
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