Economy
NNPC, Denmark Plan Joint Investment in N800b Animal Feeds Sector
By Modupe Gbadeyanka
The Nigerian National Petroleum Corporation (NNPC) and a Danish firm, Unibio A/S Limited, have concluded plans to begin a Joint Venture Company, which would be involved in the production of animal feeds from Nigeria’s abundant natural gas resources through conversion of methane gas into protein and has no negative impact for human consumption.
It was gathered that the Danish Government would guarantee a 10 percent equity financing of the firm.
The animal feeds industry in Nigeria accounts for N800 billion annually.
NNPC Group Managing Director, Dr. Maikanti Baru, who made this known on Wednesday in Abuja when he received a Delegation from Denmark led by the Danish Ambassador to Nigeria, Mr Torben Gettermann, said such collaboration would have positive impact on the Nigerian economy in the area of revenue generation, food security and job creation.
Represented by the NNPC’s Chief Operating Officer, Ventures, Dr. Babatunde Adeniran, the GMD said that NNPC was considering partnership with the Danish company to utilize the abundant natural gas resources in the country for the production of animal feeds as part of its diversification agenda into non-oil ventures like other national oil companies to generate additional revenue for the country.
“This proposal, though it is coming newly, has already started gaining traction in the industry and across the globe especially in Europe. Nigeria being the first point of call in Africa, we can leverage on the opportunity to increase the revenue of the country through local food production,” Dr. Baru stated.
The GMD described the project as laudable, saying it was capable of making positive impact on the country’s economy, adding that the Corporation would look at the proposal holistically to ensure that Nigeria drives maximum benefit from it.
Dr. Baru applauded the Federal Government for providing an enabling business environment which has already started attracting investors into the country.
Speaking at the meeting, the Danish Ambassador to Nigeria, Mr. Torben Gettermann, stated that Unibio had revolutionized natural gas conversion into animal feeds.
“There are huge possibilities in view of the demands for this kind of feeds and it will boost food production in Nigeria tremendously. The benefits are not only in local production and consumption of the feeds but also in terms of revenue generation in foreign currencies through export,” Mr. Gettermann stated.
He said Nigeria was an important partner to the Danish Government both politically and economically, adding that the Danish Government had established a special office in Lagos to facilitate trade relationship between the two countries.
Shedding more light on the proposal, the Chief Executive Officer of Unibio A/S Limited, Mr. Henrik Busch-Larsen stated that his company owned the right to a unique fermentation technology known as U-Loop Technology which enables natural gas conversion into a highly concentrated protein product called Uniprotein.
Busch-Larsen said the product could be used to feed such animals as pigs, poultry, and fish.
Mr. Busch-Larsen explained that Uniprotein had a raw protein content of at least 72% which is a key component in animal feeds and can conveniently substitute the traditional proteins in animal feeds such as fishmeal and soybeans.
Multinational food/care products companies as Nestlé, Procter and Gamble, (P&G) and Colgate-Palmolive, he noted, had already started using the products as feedstock.
By Adedapo Adesanya
Vert, a global cross-border payments platform, has announced a new solution under Verto Business Accounts that enables US-registered businesses to move money seamlessly between the United States and Africa.
With the ability to open a US Dollar account in their business name and have access to trusted emerging market payment rails, companies can now receive, hold, and transfer funds faster, more cost-effectively, and with greater control.
US-registered businesses with operations in Africa often encounter significant banking limitations, with US banks frequently delaying or blocking transactions to or from African markets, imposing high or hidden FX costs, and offering limited access to Emerging Market payment corridors. Businesses without a US bank account registered in their own name must rely on fragmented tools or intermediaries to move funds to Africa, creating operational inefficiencies and slowing growth.
Verto’s new solution directly addresses these challenges by giving US-domiciled businesses access to named USD accounts and a robust cross-border payment infrastructure, enabling them to move funds and settle transactions in local currencies with speed and efficiency.
Built for venture-backed startups, import-export SMEs, and investors funding emerging market innovation, this solution will enable clients to receive funds directly into a named USD business account from US based customers or investors, convert and settle between USD and local currencies such as NGN and KES quickly and at lower cost, as well as hold, receive, and pay in 48 currencies from a single dashboard.
The solution will also allow users to pay contractors, suppliers, and offshore teams instantly via local payment rails. It also equips teams with virtual cards to spend in 11 currencies without fees and leverage specialised onboarding and monitoring that navigates both US and African regulatory requirements
By combining US and African compliance expertise, Verto’s Business Accounts empowers companies to maintain a US domestic presence for investors, customers, and suppliers while using deep-liquidity rails to pay global contractors and settle trades in local currencies efficiently, ensuring uninterrupted trade, payroll, and investment flows, without the risk of blocked or delayed transactions.
“We believe founders building across borders should not be constrained by the limitations of traditional banking,” said Ola Oyetayo, CEO of Verto. “Providing named accounts in the US empowers businesses with the funds they need to operate globally, connecting the US and Africa more efficiently without friction.”
With over 8 years of experience and $25 billion in annual global cross-border transaction volume, Verto continues to provide the infrastructure, expertise, and trusted payment rails businesses need to operate confidently across borders and scale globally.
By Adedapo Adesanya
The Presidential Enabling Business Environment Council (PEBEC) has directed Ministries, Departments, and Agencies (MDAs) to suspend the introduction of new policies and regulatory changes to prevent disruptions to businesses.
The directive was issued in a statement by PEBEC director-general, Mrs Zahrah Mustapha-Audu, on Monday in Abuja, noting that the move is part of the Federal Government’s broader effort to improve regulatory quality, ensure policy consistency, and strengthen Nigeria’s ease of doing business environment.
The council emphasised that the suspension will remain in place until all MDAs fully comply with the Regulatory Impact Analysis (RIA) Framework, which governs evidence-based policymaking across government institutions.
The council said the directive is aimed at ensuring that all government policies are backed by verifiable data and do not negatively impact businesses or investors.
“It is imperative to emphasise that no new reform or policy will be permitted to proceed without being grounded in clear, verifiable evidence,” said Mrs Mustapha-Audu.
“The framework provides the structured mechanism through which such evidence-based decisions can be rigorously developed, assessed, and validated.
“This directive is necessary to prevent policy shocks that may adversely affect businesses, investors, and citizens, as well as to eliminate policy inconsistencies and frequent reversals.”
She added that the government remains committed to working collaboratively with regulators and does not intend to embarrass any institution.
The Regulatory Impact Analysis (RIA) Framework, introduced in January 2025, is designed to improve transparency and ensure that policies undergo proper evaluation before implementation.
All MDAs are required to align new policies and amendments with the RIA framework before approval and rollout.
The framework has been circulated by the Office of the Secretary to the Government of the Federation (SGF) and is available on the PEBEC website.
MDAs are encouraged to seek technical support from the PEBEC Secretariat to ensure proper implementation.
Exceptions to the directive will only be granted in cases of urgent national interest, subject to appropriate approvals.
PEBEC noted that the framework will help institutionalise evidence-based policymaking, enhance transparency, and improve stakeholder confidence in government decisions.
By Aduragbemi Omiyale
Subscription for the Federal Government of Nigeria (FGN) savings bonds for April 2026 has opened, a circular from the Debt Management Office (DMO) on Tuesday, April 7, 2026, confirmed.
The debt office is selling the retail debt instrument for this month in two tenors of two years and three years.
Offer for the savings bonds opened today and will close on Friday, April 10, 2026, a part of the disclosure stated.
The 2-year FGN savings bond due April 15, 2028, is being sold at a coupon rate of 13.082 per cent per annum, while the 3-year FGN savings bond due April 15, 2029, is being sold at a coupon rate of 14.082 per cent per annum.
The interests are paid every quarter, and the bullet repayment to subscribers on the maturity date.
The bonds are sold at N1,000 per unit, subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.
Interested investors are required to reach out to the stockbroking firms appointed as distribution agents by the DMO via the agency’s website.
An FGN savings bond qualifies as securities in which trustees can invest under the Trustee Investment Act. It also qualifies as government securities within the meaning of the Company Income Tax Act (CITA) and the Personal Income Tax Act (PITA) for tax exemption for pension funds, amongst other investors, meaning it is tax-free.
It can be used as a liquid asset for liquidity ratio calculation for banks, and is listed on the Nigerian Exchange (NGX) Limited to allow for easy exit (liquidation) before maturity by selling at the secondary market.
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