Economy
Stakeholders Suggest Ways to Fast-track Growth of Impact Investing in Nigeria
By Modupe Gbadeyanka
The Nigerian government has been advised to formulate strong policies and incentives to attract more impact investments in the country.
These and other recommendations were given at a stakeholder validation workshop organised by the Nigerian National Advisory Board for Impact Investing (NABII) in partnership with the Nigerian Economic Summit Group (NESG).
The event was themed Investing for Impact in Nigeria: A deep dive into Agriculture, Education and Health Sectors, and it was aimed at unlocking the country’s impact investing potential with a focus on the agriculture, education and health sectors.
The initiative was made possible with support from the Global Steering Group for Impact Investment (GSG), OTT Impacto and financed by the International Development Research Centre (IDRC).
The seminar was used to unveil the findings of the report and gather expert opinions and feedback on areas where the deep dive research report could further be improved.
The Vice Chair for NABII, Mr Afolabi Oladele, while presenting his keynote address at the event, expressed confidence in the findings of the study, saying it would bridge the information gap for impact investing in Nigeria and accelerate its growth.
The expert panel session, moderated by the chief executive of the Impact Investors Foundation, Ms Etemore Glover, had the Vice President, Financial Markets, AFEX Commodities Exchange Limited, Oluwafunto Olasemo; the founder of Teesas, Mr Osayi Izedonmwen; the Chairman/Medical Director of ECHOLAB Radiology and Laboratory Services, Dr Ayodele Cole Benson; the Director of Partnership and Coordination of Small and Medium Enterprise Development Agency (SMEDAN), Dr Friday Okpara; and the Executive Director of Policy Innovation Centre at NESG, Dr Osasuyi Dirisu.
They discussed the high-level findings of the study, provided deep insight into issues in the various sectors and highlighted potential policy recommendations for developing an inclusive and gender-balanced impact investing market in Nigeria.
Olasemo emphasized the need for capacity building for all stakeholders, particularly MSMEs, investors and policymakers to fast-track the growth of the impact investing ecosystem.
Izedonmwen noted that investors needed to get educated on the viability of impact investment and why it was important to allocate funds from Development Finance Institutions and pension funds to impact investments, adding that social enterprises need to realize that the funds they received are meant to generate profit and social impact.
Sharing his perspectives on the health sector, Benson noted that a weak governance structure, poor financial accountability systems and low-profit margin in most private healthcare facilities are limiting access to funding, adding that the operators in the sectors require financing with a long-gestational period.
Dirisu advocated policies that would increase the participation of women in impact investing while ultimately creating a more equitable society for all men and women.
Commenting on the plight of MSMEs in the country, Okpara stated that access to capital is a major impediment to business growth and called for policies that would enhance their businesses and improve access to finance.
The collaborative study revealed a $186.17 billion financing gap in Nigeria’s agriculture, health and education sectors.
The research identified key investment instruments for MSMEs operating within the agriculture, healthcare and education sectors, with gender and sustainability as the cross-cutting guiding principles. Some of these instruments include low-cost debt financing, grant, equity and hybrid financing (debt and grant).
By Aduragbemi Omiyale
Barring any last-minute changes, the 50th Annual General Meeting (AGM) of Champion Breweries Plc will take place on Thursday, May 21, 2026, at the Oriental Hotel, Victoria Island, Lagos, at 11:00 am.
At the yearly shareholders’ gathering, some of the key statutory and governance matters to be considered will include the Audited Financial Statements for the year ended December 31, 2025, alongside the Reports of the Directors, Auditors, and the Audit Committee.
Other agenda items are the declaration of dividends, election and re-election of Directors, authorisation for Directors to determine the remuneration of the Auditors, and election/re-election of shareholders’ representatives to the Audit Committee.
In line with its commitment to transparency, accountability, and shareholder engagement, the AGM will be held physically while also being accessible to stakeholders via the company’s official website: www.championbreweries.com.
This year’s AGM comes at a defining moment in the organisation’s corporate journey, following a transformative year marked by strategic expansion initiatives, including the acquisition of Bullet Energy Drink and its successful engagement with the capital market to raise growth capital.
These developments reinforce Champion Breweries Plc’s commitment to strengthening its competitive positioning, expanding its portfolio, and delivering long-term shareholder value.
The brewer has strengthened its transition into a group structure with the acquisition of an 80 per cent stake in enJOYbev B.V., a strategic move already delivering early earnings contribution and validating its international expansion drive.
The subsidiary’s results are now being consolidated into the Group accounts for the first time, with enJOYbev B.V. already contributing positively to earnings through operating profitability within the reporting period, an early validation of the group’s expansion strategy.
“This AGM reflects a defining chapter in our journey as a Company. The acquisition of Bullet, our successful capital market engagement, and the integration of enJOYbev B.V. into our group structure all signal a deliberate strategy for sustainable growth and diversification.
“These milestones position Champion Breweries Plc for stronger performance, broader market reach, and enhanced shareholder value. We remain committed to disciplined execution, operational excellence, and the highest standards of corporate governance,” the chairman of Champion Breweries, Mr Imo Abasi Jacob, said.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled a unified Taxpayer Identification (Tax ID) system for all taxable persons across the country as part of efforts to strengthen tax administration and improve transparency.
The agency announced the development in a public notice issued jointly with the Joint Revenue Board (JRB) on Monday.
According to the notice, the initiative is backed by Sections 6, 7, and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a Tax ID, in a wider move to expand the country’s tax base.
The NRS said the new framework is designed to create a centralised and harmonised taxpayer database that would enhance interactions between taxpayers and revenue authorities at both federal and sub-national levels.
“The Tax ID will serve as a single, unified identity for all taxpayers, enabling seamless interaction with tax authorities at both federal and sub-national levels. It is designed to consolidate taxpayer records, eliminate duplication, and ensure more efficient management of tax-related information,” the agency stated.
The revenue agency explained that the new system would simplify tax compliance procedures, including taxpayer registration, filing of returns, and payment processes.
According to the NRS, the framework is also expected to improve accountability and reduce leakages in tax collection by creating better visibility and tracking of taxpayer information nationwide.
“The initiative will simplify tax compliance processes, including registration, tax filing, and payment procedures. The system will improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection. The framework will also harmonise taxpayer information across all levels of government,” the notice added.
The agency further disclosed that the new Tax ID system would replace the existing Tax Identification Number (TIN) Validation API currently used by Ministries, Departments and Agencies (MDAs), financial institutions, and other organisations for taxpayer verification.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis 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 transacted for N1.2 billion.
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