Economy
Nigerians Deserve Quality Agro Products—Minister
By Modupe Gbadeyanka
Minister of Agriculture and Rural Development, Mr Audu Ogbeh, has disclosed that Nigerians deserve good, safe and quality agro products for consumption.
Speaking recently during his keynote address at the south west nationwide advocacy on agricultural quality control and standardisation in Lagos, the Minister charged farmers and agro-processors dealers to mainstream the issue of food safety in its agricultural production and as well endeavour to meet world standards and international best practices.
He noted that, “There is no time than now to mainstream food safety into agricultural production if we want to really diversify our economy using agriculture as veritable tool and have our own share of the export at both regional and international markets.
“Nigerians also deserve good, safe and quality agro-outputs for consumption and should be globally accepted like their counterparts across the globe.”
Mr Ogbeh, who was represented by the coordinating Director, Nigerian Agricultural Quarantine Services, Dr Vincent Isegbe, noted that previous efforts of the Ministry had hitherto been geared towards increased cultivation and output per unit area with less emphasis on quality and standards of agro-produce, stating that the ban on dry beans from Nigeria by the European Union had now shifted attention to standards and quality in order to avoid incidences of communicable diseases in the country more so to earn foreign earnings that will boost the Nigerian economy.
He said the nationwide advocacy on quality control and standardization of agricultural commodities was to target farmers and other stakeholders along the food value chain so as to inculcate the culture of agro-quality among key policy makers in both public and private institutions and to recognise the essential role of food safety in the production, preparation, manufacturing, packaging, distribution, storage, sale of food and food products as well as agro produce export promotion.
The Minister maintained that as part of government’s initiative to aid aggregation, certification standardisation and traceability, commodities certification centres would be established across the six geopolitical zones of the country.
He commended stakeholders for their efforts in stemming the negative trend and for being agents of change towards quality consumption and zero rejection of Nigeria’s agro-produce.
Governor of Lagos State, Mr Akinwumi Ambode, in his opening speech said the state would continue to align itself with the Federal government’s vision of making agriculture a revenue base of the country.
The Governor, who was represented by his Commissioner for Agriculture, Mr Oluwatoyin Suarau, highlighted several initiatives and achievements recorded by the state to grow the nation’s agricultural sector which include the state’s collaboration with Kebbi State on rice processing Lake Rice, empowerment scheme; fisheries and aquaculture development; Lagos State coconut development authority among others.
Minister of Industry, Trade and Investment, Dr Okechkwu Enelamah, who was represented by the Director, Federal Produce Inspectorate, Mr Akabueze Michael, urged stakeholders at the workshop to leverage the knowledge gained to achieve zero reject of the country’s agro-produce.
In a good will message, Managing Director of the Nigeria Ports Authority (NPA), Hadizah Bala Usman, who was represented by Mr Innocent Umar, said her organisation was ready to assist in transforming Nigeria from dependence on oil dollar to agro-Dollar, adding that NPA had dedicated some port terminals in Lagos such as Ikorodu and Lily pond terminals as export terminals.
By Adedapo Adesanya
The United Kingdom via the British High Commission in Abuja has launched two flagship economic reform programmes – the Nigeria Economic Stability & Transformation (NEST) programme and the Nigeria Public Finance Facility (NPFF) -as part of efforts to support Nigeria’s economic reform and growth agenda.
Backed by a £12.4 million UK investment, NEST and NPFF sit at the centre of the UK-Nigeria mutual growth partnership and support Nigeria’s efforts to strengthen macroeconomic stability, improve fiscal resilience, and create a more competitive environment for investment and private-sector growth.
Speaking at the launch, Cynthia Rowe, Head of Development Cooperation at the British High Commission in Abuja, said, “These two programmes sit at the heart of our economic development cooperation with Nigeria. They reflect a shared commitment to strengthening the fundamentals that matter most for our stability, confidence, and long-term growth.”
The launch followed the inaugural meeting of the Joint UK-Nigeria Steering Committee, which endorsed the approach of both programmes and confirmed strong alignment between the UK and Nigeria on priority areas for delivery.
Representing the Government of Nigeria, Special Adviser to the President of Nigeria on Finance and the Economy, Mrs Sanyade Okoli, welcomed the collaboration, touting it as crucial to current, critical reforms.
“We welcome the United Kingdom’s support through these new programmes as a strong demonstration of our shared commitment to Nigeria’s economic stability and long-term prosperity. At a time when we are implementing critical reforms to strengthen fiscal resilience, improve macroeconomic stability, and unlock inclusive growth, this partnership will provide valuable technical support. Together, we are laying the foundation for a more resilient economy that delivers sustainable development and improved livelihoods for all Nigerians.”
On his part, Mr Jonny Baxter, British Deputy High Commissioner in Lagos, highlighted the significance of the programmes within the wider UK-Nigeria mutual growth partnership.
“NEST and NPFF are central to our shared approach to strengthening the foundations that underpin long-term economic prosperity. They sit firmly within the UK-Nigeria mutual growth partnership.”
By Aduragbemi Omiyale
A strategic partnership aimed at accelerating the growth, digital capacity, and sustainability of Nigeria’s 40 million Micro, Small and Medium Enterprises (MSMEs) has been signed by MTN Nigeria and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The collaboration will feature joint initiatives focused on digital inclusion, financial access, capacity building, and providing verified information for MSMEs.
With millions of small businesses depending on accurate guidance and easy-to-access support, MTN and SMEDAN say their shared platform will address gaps in communication, misinformation, and access to opportunities.
At the formal signing of the Memorandum of Understanding (MoU) on Thursday, November 27, 2025, in Lagos, the stage was set for the immediate roll-out of tools, content, and resources that will support MSMEs nationwide.
The chief operating officer of MTN Nigeria, Mr Ayham Moussa, reiterated the company’s commitment to supporting Nigeria’s economic development, stating that MSMEs are the lifeline of Nigeria’s economy.
“SMEs are the backbone of the economy and the backbone of employment in Nigeria. We are delighted to power SMEDAN’s platform and provide tools that help MSMEs reach customers, obtain funding, and access wider markets. This collaboration serves both our business and social development objectives,” he stated.
Also, the Chief Enterprise Business Officer of MTN Nigeria, Ms Lynda Saint-Nwafor, described the MoU as a tool to “meet SMEs at the point of their needs,” noting that nano, micro, small, and medium businesses each require different resources to scale.
“Some SMEs need guidance, some need resources; others need opportunities or workforce support. This platform allows them to access whatever they need. We are committed to identifying opportunities across financial inclusion, digital inclusion, and capacity building that help SMEs to scale,” she noted.
Also commenting, the Director General of SMEDAN, Mr Charles Odii, emphasised the significance of the collaboration, noting that the agency cannot meet its mandate without leveraging technology and private-sector expertise.
“We have approximately 40 million MSMEs in Nigeria, and only about 400 SMEDAN staff. We cannot fulfil our mandate without technology, data, and strong partners.
“MTN already has the infrastructure and tools to support MSMEs from payments to identity, hosting, learning, and more. With this partnership, we are confident we can achieve in a short time what would have taken years,” he disclosed.
Mr Odii highlighted that the SMEDAN-MTN collaboration would support businesses across their growth needs, guided by their four-point GROW model – Guidance, Resources, Opportunities, and Workforce Development.
He added that SMEDAN has already created over 100,000 jobs within its two-year administration and expects the partnership to significantly boost job creation, business expansion, and nationwide enterprise modernisation.
By Adedapo Adesanya
The Nigerian Exchange (NGX) Limited is seeking review of the controversial Capital Gains Tax increase, fearing it will chase away foreign investors from the country’s capital market.
Nigeria’s new tax regime, which takes effect from January 1, 2026, represents one of the most significant changes to Nigeria’s tax system in recent years.
Under the new rules, the flat 10 per cent Capital Gains Tax rate has been replaced by progressive income tax rates ranging from zero to 30 per cent, depending on an investor’s overall income or profit level while large corporate investors will see the top rate reduced to 25 per cent as part of a wider corporate tax reform.
The chief executive of NGX, Mr Jude Chiemeka, said in a Bloomberg interview in Kigali, Rwanda that there should be a “removal of the capital gains tax completely, or perhaps deferring it for five years.”
According to him, Nigeria, having a higher Capital Gains Tax, will make investors redirect asset allocation to frontier markets and “countries that have less tax.”
“From a capital flow perspective, we should be concerned because all these international portfolio managers that invest across frontier markets will certainly go to where the cost of investing is not so burdensome,” the CEO said, as per Bloomberg. “That is really the angle one will look at it from.”
Meanwhile, the policy has been defended by the chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, who noted that the new tax will make investing in the capital market more attractive by reducing risks, promoting fairness, and simplifying compliance.
He noted that the framework allows investors to deduct legitimate costs such as brokerage fees, regulatory charges, realised capital losses, margin interest, and foreign exchange losses directly tied to investments, thereby ensuring that they are not taxed when operating at a loss.
Mr Oyedele also said the reforms introduced a more inclusive approach to taxation by exempting several categories of investors and transactions.
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