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Investors Lose N1.33trn on Profit-taking in Dangote Cement, 38 Others

Investors Lose N1.33trn on Profit-taking in Dangote Cement, 38 Others

Kayode Tokede

The domestic stock market yesterday depreciated by N1.33 trillion on investors’ profit-taking in Dangote Cement Plc and 38 others   quoted companies on the Nigerian Exchange Limited (NGX).

As the stock price of Dangote Cement dropped by  9.88 per cent, the market capitalisation  dropped by N1.33 trillion or per cent to close at N90.227 trillion as against N91.561  trillion it opened  for trading.

With the 9.88 per cent drop in Dangote Cement, investors lost an estimated N961.79   billion in  one-day.

The NGX All-Share Index declined by 2,109.00 basis points or 1.46 per cent, to close at 142,613.47  basis points  to drag dragged the year-to-date (YTD) return down to 38.56 per cent, from the 40.61 per cent in the prior session.

Investor sentiment, as measured by market breadth, closed negative as 26 stocks advanced, while 39 declined. Nigerian Enamelware recorded the highest price gain of 9.95 per cent to close at N35.90, per share. DAAR Communication followed with a gain of 9.82 per cent to close at N1.23 and Deap Capital Management & Trust up by 9.60 per cent to close at N1.94, per share.

Academy Press appreciated by 8.43 per cent to close at N9.00, while International Breweries rose by 6.95 per cent to close at N13.85, per share.

On the other hand, Royal Exchange led the losers’ chart by 10.00 per cent to close at N2.52, per share. Dangote Cement followed with a decline of 9.88 per cent to close at N520.00, while R.T. Briscoe lost 9.87 per cent to close at N3.56, per share.

Jaiz Bank declined by 9.81 per cent to close at N4.32, while Wapic Insurance and Lasaco Assurance shed 9.77 per cent each to close at N3.60 each, per share

Also, the total volume traded fell by 10.4 per cent to 1.027 billion units, valued at N17.664 billion, and exchanged in 34,352 deals. Transactions in the shares of Universal Insurance topped the activity chart with 130.222 million shares valued at N173.672 million. AIICO Insurance followed with 100.112 million shares worth N437.561 million, while Mutual Benefits Insurance traded 68.521 million shares valued at N310.653 million.

Prestige Assurance traded 66.867 million shares valued at N135.371 million, while Regency Alliance Insurance transacted 46.141 million shares worth N69.258 million.

On market outlook, Afrinvest Limited said, “we expect the bearish performance to persist due to profit taking activities.”

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Kayode Tokede The domestic stock market yesterday depreciated by N1.33 trillion on investors’ profit-taking in Dangote Cement Plc and 38 others   quoted companies on the Nigerian Exchange Limited (NGX). As
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Ogun bye- election: Police Arrest 10 Suspected Cultists Allegedly Hired to Disrupt Polls

Ogun bye- election: Police Arrest 10 Suspected Cultists Allegedly Hired to Disrupt Polls

Uzoma Mba 

Operatives of the Zone 2 Police Command, Onikan, Lagos, have arrested ten suspected members of the Aiye confraternity in Sagamu, Ogun State, for allegedly plotting to unleash violence during the just-concluded by-election in the state.

The suspects were said to have converged on a popular hotel in Sagamu last Friday to perfect plans to strike on election day when intelligence reached the Assistant Inspector-General of Police (AIG) in charge of Zone 2, Adegoke Fayoade, who was on patrol in the area.

The AIG reportedly mobilised a crack team of detectives from the Dragon Unit and ordered them to raid the hideout. On arrival at the hotel, the police operatives subdued the suspects after they attempted to flee.

According to police sources, the suspects were taken to Zone 2 headquarters in Onikan, Lagos, where they allegedly confessed that they were brought from different parts of Lagos State by a serving member of the Ogun State House of Assembly (names withheld) to disrupt the election.

They further claimed that the lawmaker promised to pay them handsomely and provide sophisticated weapons to ensure they “scattered everything” on election day. During interrogation, some of the suspects reportedly lamented that the police “messed up an operation that would have given them money,” while admitting that the officers carried out a commendable operation by arresting them.

Those arrested include Habeeb Mohammed of 15, Abule-Egba, Lagos; Olaniyi Okesola of 9, Oke-Odo Pipeline, Abule-Egba, Lagos; Azeez Idowu of 26, Olaniyi Street, Abule-Egba, Lagos; Rasaki Taiwo of 21, Babawo Street, Sango Ota, Ogun; Waheed Olugoroye of 15, Oyewole Street, Iyana Ipaja, Lagos; Godwin Abode of 7, Oja Agbado Crossing, Ogun; Ayobami Damilare of 2, Araromi Street, Sango Ota, Ogun; Folarin Kabiru of 3, Araromi Street, Iyana Ipaja, Lagos; Ojelade Tobi of Ifelodun, Sango Ota, Ogun; and Olanrewaju Sanni of 17, Jimoh Ibrahim Close, Agbado Oja, Ogun State.

Police sources revealed that the suspects were holding a strategy session when they were rounded up. They have since been handed over to the Ogun State Police Command for further investigation and prosecution.

Confirming the arrest, AIG Fayoade said: “This breakthrough is a clear message to those who believe they can use thugs, cultists or hired hands to intimidate voters during elections. 

“The Nigeria Police under my watch will not tolerate violence or lawlessness. We will deal decisively with anyone, no matter how highly placed, who attempts to disrupt the peace.”

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Uzoma Mba  Operatives of the Zone 2 Police Command, Onikan, Lagos, have arrested ten suspected members of the Aiye confraternity in Sagamu, Ogun State, for allegedly plotting to unleash violence
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How the Nigerian Navy is Forging Elite SBS Warriors to Tackle Evolving Security Threats

How the Nigerian Navy is Forging Elite SBS Warriors to Tackle Evolving Security Threats

After 36 weeks of relentless training that tested mind, body and spirit, 33 Nigerian Navy personnel have been inducted into the elite Special Boat Services. Chiemelie Ezeobi writes that their graduation not only marked the forging of elite warriors but also reinforced the Nigerian Navy’s commitment to strengthening special operations capabilities in an era of evolving security threats

After 36 weeks of gruelling drills, punishing endurance tests, and the infamous “Hell Week” that has broken many before them, only 33 out of 68 personnel who began the Basic Operating Capability Course (BOC) 19 stood tall at the Headquarters of the Nigerian Navy Special Boat Service (NNSBS) in Lagos, as they were officially inducted into one of Africa’s toughest military units.

The graduation ceremony, held last Friday, was not just a military ritual; it was a testament to resilience, sacrifice, and the Nigerian Navy’s growing emphasis on special operations in tackling Nigeria’s evolving security challenges because for 36 weeks, they were trained on counter-terrorism, counter-insurgency, hostage rescue, anti-piracy, sabotage, infiltration of enemy positions, visit-board-search-and-seizure (VBSS), survival techniques, and amphibious operations.

All these and more were also showcased at the final training demonstration where the graduands underwent  a series of intensity drills, from hostage rescue to amphibious manoeuvres, reflecting the demanding training they had undergone.

The ceremony drew an impressive line-up of senior naval officers, including the Special Guest of Honour, Flag Officer Commanding Special Operations Command, Rear Admiral O.O. Soyemi. Also present were Director Special Operations NHQ, Rear Admiral DOC Igbo; Rear Admiral IC Okpalla, CSO NAVDOC; Captain Andrew Zidon, Commander SBS; FOC West Rep, Rear Admiral Mohammed; COMD NAB, COMD JMSTC, COMD WEY, COMDT NNS QUORRA, and other senior officers from naval formations, foreign training partners including the Deputy Defence Attache US Embassy, Mr. Jacob Jones and the proud families of the graduating operatives.

Strategic Assets of National Interest 

After certificates were presented, badges pinned, and the sacrifices of retired SBS operatives recognised, the special guest of honour, the FOC Special Operations Command, Rear Admiral Soyemi captured the gravity of the moment in his address where he described the elite unit as strategic assets of national interest. 

He further highlighted that “This institution remains a critical pillar in the Nigerian Navy’s special operations capabilities, especially as we navigate the complexities of contemporary security challenges. To the graduates, I offer my heartfelt congratulations as today marks a significant milestone in your professional journey. You have endured 36 weeks of intensive training that has moulded you into elite special forces operators. 

“As mentioned earlier by your chief instructor, 68 of you were selected for the training and today, 33 of you have proved your mettle. You have demonstrated mental tenacity, physical toughness and a will consistent with special operations forces around the world. You have every reason to be proud of yourselves. 
“Such moments will call for your selfless service and sacrifices, so you must be prepared. Note that your contributions are not just to the Nigerian Navy, but also to national cohesion and development. Indeed, you are strategic assets of national interest.”

Rear Admiral Soyemi further expressed appreciation to the Chief of Naval Staff for the investment in infrastructure and the establishment of the Special Operations Command, which now coordinates all Nigerian Navy special operations.

Core of Special Operations and Adaptability to Evolving Technology 

Speaking later in an interview, Rear Admiral Soyemi placed the day in historical perspective: “You see, the history of special operations in the Nigerian Navy dates back to 2006, when the Nigerian Navy Special Boat Service (SBS) was established. Over the years, the SBS has distinguished itself, performed creditably, and won laurels both nationally and internationally.”

He revealed that in May 2025, the Navy also established the Nigerian Navy Marines alongside the Special Operations Command to fill capability gaps and coordinate special missions.

On technology, he stressed adaptability: “The SBS has been in existence since 2006, and the use of technology has never been new to its operations. Over the years, the SBS has incorporated a number of technologies, including the use of drones, and has continued to evolve. As situations develop, the SBS adapts and integrates new technologies to remain effective and relevant.”

In the SBS, We Win Before Setting Foot on the Battlefield 

For the Commander of the SBS, Captain Andrew Zidon, the graduation was proof of resilience and a testament to the support of the Chief of Navy Staff, Vice Admiral Ikechukwu Ogalla and the instructors who, he said, “stood with the trainees through thick and thin, pushing them to surpass their physical limits”.

Commending the graduates, he said: “In the SBS, we win before setting our feet on the battlefield. This clearly highlights the importance we attach to training and preparation before combat.

“These 33 trainees have weathered the toughest of storms, arrested the fear of the skies and subdued the waters of the sea. This, they have achieved through progressive, unalloyed and malleable special operations training.

“Having endured the crucible of the Hell Week, they have demonstrated the physical fitness, mental tenacity, psychological readiness and emotional toughness required to carry out duties that will be assigned to them by the Nigerian Navy.

“In the course of their training, they have expended thousands of rounds of ammunition and pyrotechnics, burnt thousands of litres of petroleum, oil and lubricant, swam kilometres at sea, and performed countless hours of high-intensity workouts.

 All components of their training modules were carefully orchestrated and tenaciously followed, culminating in today’s graduation ceremony. This training has prepared and equipped them with all the skills required to succeed in today’s dynamic battlespace.

“I have no doubt that we have succeeded in moulding an efficient and compact fighting force, ready for battle. In the words of Sun Tzu, I quote: “Victorious warriors win first, then go to war, while defeated warriors go to war first and then seek to win.”

The Special Boat Services

Modelled after the British Royal Navy’s Special Boat Service, the Nigerian SBS was established in 2006 and has trained with counterparts from the United Kingdom, the United States, and other allied nations. 

Its operators are the spearhead of the Nigerian Navy’s unconventional warfare, deployed in maritime counter-terrorism, anti-piracy operations in the Gulf of Guinea, oil theft suppression in the Niger Delta, and joint counter-insurgency operations in the North-East.

Expectedly, selection into the SBS is notoriously tough and is one of the most demanding in Africa as candidates undergo extreme endurance tests, long-range swimming, survival training, demolitions, close-quarters combat, and amphibious warfare.

Therefore, for the 33 newly badged operatives, their journey is only beginning. As Rear Admiral Soyemi posited, they will soon be called upon to deploy the skills honed in months of relentless drills to real-world missions. Their sacrifices, he reminded them, are not only for the Navy but for Nigeria’s unity and security.

For families and friends who witnessed the graduation, the pride was palpable. For the Navy, it was the assurance that a new generation of warriors has been forged as warriors who “win first” through preparation before they ever face the battlefield.

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After 36 weeks of relentless training that tested mind, body and spirit, 33 Nigerian Navy personnel have been inducted into the elite Special Boat Services. Chiemelie Ezeobi writes that their graduation not
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THREATS TO 2027 ELECTIONS IN NIGERIA

THREATS TO 2027 ELECTIONS IN NIGERIA

In 2027 elections, Nigerians will not allow INEC and the judiciary to validate electoral fraud. In the 2011 general elections, the Independent National Election Commission (INEC), the electoral management body that organized the elections pulled what may pass as an electoral feat in achieving one of the most open, credible, peaceful and transparent elections in Nigeria’s recent memory. Before that election, Nigeria had the 1999, 2003, 2007 elections, and the Edo 2024 governorship election considered by both national and international election observers, the Commonwealth Election Monitoring groups and the civil society, to be the most disorganized and fraudulent election during which people’s votes were blatantly stolen. Nigeria’s democracy, no doubt, is still nascent, evolving and could be classified as a fraudulent democracy. Go to court for candidates that lose elections in 2027 will not be tenable.

It is clear that many Judges have abandoned the 2022 Electoral Act. In 2023 Elections, Edo 2024 Governorship Election, Judges from Election Tribunals, Court of Appeal and Supreme Court validated electoral frauds which are threats to 2027 elections. The danger posed by these merchants on the bench sometimes goes to the root of the survival of Nigeria’s democracy, the success of 2027 elections and this is why the Supreme Court recognises that an errant Judge is more dangerous than a thief. I observed that the act of judicial banditry has been demonstrated eloquently by the indiscriminate dishing out of ex-parte orders which mostly are politically motivated. Ordinarily, an ex-parte order is a beautiful remedy in equity, designed to defend the defenceless, against superior powers, but is now dishonestly being used in Nigeria to destroy the defenceless by superior, unprincipled, mean and dishonest persons. 

INEC has introduced criminality into the conduct of elections. Electoral frauds and manipulations are threats to 2027 elections. Revelations from Edo 2024 governorship election showed that electoral laws and INEC guidelines were violated and manipulated by INEC. Three sets of Form EC8A results sheet were fraudulently printed and used for Edo 2024 election with the same serial number. Voting and collation of results have been reduced to business of trade. Credible, free and fair elections can help in consolidating democratic values, promote human rights and security. But fraudulent elections promote political instability, corruption and conflict in the polity.

Inwalomhe Donald, inwalomhe.donald@yahoo.com

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In 2027 elections, Nigerians will not allow INEC and the judiciary to validate electoral fraud. In the 2011 general elections, the Independent National Election Commission (INEC), the electoral management body that organized
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How Embedded Generation Can Transform Nigeria’s Power Landscape

How Embedded Generation Can Transform Nigeria’s Power Landscape

Tola Talabi

If you’re reading this, chances are you’ve experienced a power outage today. Maybe you’re running on a generator, or lucky enough to have solar and battery backup. Either way, you know Nigeria’s electricity crisis affects every aspect of life, from the cost of doing business to the quality of healthcare and education our families receive.

Every major leap in Nigeria’s economy has been triggered by a structural shift. Just as telecoms and banking were revolutionized through liberalization and private innovation, the power sector is now on the brink of a similar transformation, this time through embedded generation.

Learning from Our Success Stories: Telecom and Banking

The Telecom Revolution: From Scarcity to Ubiquity

In the 1990s, getting a phone line meant bribes, long waits, and limited access. But the 2001 GSM revolution changed that. Within a decade, subscriptions jumped from 500,000 to over 100 million. The key was not government investment, but liberalization and private capital. MTN, Glo, and Airtel built the backbone, and telecoms now contribute over 10 per cent of GDP.

The Banking Revolution: From Elite Privilege to Mass Access

Finance used to be the domain of foreign banks and elites. But consolidation and fintech changed that. Today, services like PiggyVest and PalmPay make financial access ambient, so much so that market traders in Aba are able to transact as easily as bankers in Ikoyi. Like telecoms, banking became invisible infrastructure.

Power: The Missing Piece

Despite our size and ambition, Nigeria faces a power supply gap of 30–40 GW, generating only 4–7 GW daily, woefully inadequate for a nation of 227 million people. By comparison, South Africa produces nearly 60 GW and Egypt about 61 GW.

The consequences are profound. Self-generation through diesel or petrol generators costs three to five times more than grid power, draining resources that could fuel growth. Businesses lose an estimated 20–30 per cent of potential output due to frequent outages, while manufacturers and tech firms struggle to scale without consistent supply. Hospitals face particular risks, relying heavily on costly backup systems that undermine service quality. Without reliable electricity, every other sector: fintech, agriculture, education, healthcare, remains constrained, unable to reach its full potential.

The Embedded Generation Opportunity

Embedded generation is power produced within the distribution network, right where it’s needed. Instead of relying on transmission from distant plants through the fragile national grid, embedded plants serve local areas directly.  Why is this game-changing?

Nigeria’s power sector has three main links: generation, transmission, and distribution, each facing its own persistent challenges. Generation is often hampered by gas supply constraints and underutilized capacity. Transmission remains the weakest link, with an aging, unreliable grid that suffers frequent collapses. Distribution, though improved in recent years, still struggles with infrastructure losses and revenue collection.

Embedded generation offers a way to bypass the most fragile part of the chain, transmission, altogether. By producing power within the distribution network, it eliminates the risk of grid collapse disrupting supply. Even when the national grid fails, embedded systems can continue delivering electricity to consumers.

Elektron’s Approach: Ring-Fencing for Reliability

At Elektron Energy, we’ve pioneered a model that “ring-fences” specific commercial and industrial clusters with dedicated embedded generation. This means creating power islands that can operate independently of the national grid while still being connected to it for backup and optimization. Here’s how it works in practice:

Victoria Island Example

Our 30MW Victoria Island Power Project, due in Q2 2026, will deliver uninterrupted power to Lagos’s premier business hub, home to banks, multinational corporations, hotels, and high-end residential complexes . Built through Victoria Island Power Ltd (VIPL), it exemplifies how bankable, large-scale embedded generation is possible in Nigeria. Wärtsilä, our EPC partner, will supply three 10MW gas engines and manage operations. Their modular, reliable technology is tailored to Nigeria’s needs.

When the grid fails or becomes unreliable, the embedded plant ramps up to meet local demand. Customers get the best of both worlds: grid power when available, and guaranteed backup when it’s not.

Industrial Clusters: Even Greater Impact

Embedded generation is even more critical for industrial zones. Places like Oba Akran in Ikeja, home to manufacturers like Mouka Foam and Michelin, lose millions during outages. Consistent power enables full-capacity production, job creation, and economic growth. Similarly, Kano’s Tokarawa Industrial Area hosts over 300 manufacturers. Reliable local power could boost their competitiveness and export potential.

Partnering with DISCOs: A Win-Win Model

Embedded generation doesn’t compete with DISCOs, it strengthens them. Our model creates public-private synergy by enabling developers to invest in vital infrastructure upgrades such as transformers and smart grids. DISCOs, in turn, gain new revenue streams from wheeling charges and, in some cases, equity stakes in the projects. More reliable power leads to higher customer satisfaction and better payment rates, while reducing pressure on the national transmission network. Our partnership with Eko Disco for the Victoria Island project exemplifies this approach; they recognised that only private investment could address challenges beyond their direct control.

Financing Innovation: Unlocking Capital

Beyond technology, financing is crucial. The VI Power Project sets a precedent for how private capital and guarantees can unlock large-scale energy infrastructure.

InfraCredit’s guarantee bridges the trust gap between developers and financiers, making long-term naira loans viable and aligning with infrastructure’s extended cash flow timelines, solving the mismatch created by short bank tenors.

Complementing this, ARM-Harith’s $250 million private equity backing brings not only capital but also strategic expertise, with a focus on energy and impact that makes them an ideal partner for scaling embedded generation nationwide. Additional support from the Nigeria Sovereign Investment Authority, Bank of Industry, FBNQuest Merchant Bank, and Stanbic IBTC Infrastructure Fund further validates the strength and credibility of the model.

Government Support: Enabling the Shift

The regulatory framework is finally catching up. In 2024, the Nigerian Electricity Regulatory Commission (NERC) mandated DISCOs to procure 398MW from embedded generation, at least 10 per cent of their allocated load.

This signals clear intent: private innovation is now central to national energy strategy. Like GSM licensing in 2001, it’s a shift from monopoly to market-driven growth.

Economic Impact: Beyond Just Keeping the Lights On

The benefits go far beyond keeping the lights on. In manufacturing, embedded power can cut energy costs by as much as 70 per cent, making local products more competitive. In services, industries like data centres and digital platforms depend on round-the-clock power to operate. For small businesses, lower energy costs free up funds for growth and hiring. Reliable electricity also draws foreign manufacturers and investors, who see consistent power as a key factor in investment decisions. 

Global Parallels: Lessons from Global Success Stories

Nigeria isn’t the first country to face these challenges. Bangladesh raised electricity access from 47 per cent to 95 per cent in just a decade using embedded systems. In India, industrial clusters with dedicated power now lead in pharmaceuticals and textiles.

The Philippines uses embedded generation to sustain manufacturing and tourism in off-grid areas. The common thread: local power solutions + private investment + enabling policy.

The Path Forward

For embedded generation to drive Nigeria’s next economic leap, it must scale quickly. Victoria Island is just the start, Lagos, Kano, Port Harcourt and other cities need similar projects. Financing must be tailored, with DFIs and banks offering long-term products. Policy from NERC  and State Regulatory Commissions  should stay consistent and enabling. Smart technology—storage, demand management and efficiency—must be built in. And we must cultivate the skilled workforce of technicians and engineers needed to operate and expand the sector.

Time Is Running Out

Nigeria’s population and economic ambitions are outpacing our infrastructure. Every year without reliable power is a year of lost opportunity.

But the pieces are finally in place: the technology, capital, partners, and political will. The only thing left is action, fast and decisive.

Because the next great Nigerian revolution isn’t digital. It’s electrical. And until power becomes as invisible and reliable as the network behind your calls or the code behind your bank app, every other innovation is building on sand.

At Elektron Energy, we’re not just building plants. We’re laying the electrical foundation for Nigeria’s next chapter.

The question is whether Nigeria will seize this opportunity quickly enough to maintain its position as Africa’s leading economy, or whether we’ll watch other countries leapfrog ahead while we remain trapped in the cycle of blackouts and generators. 

The choice is ours. The time is now!

•Tola Talabi is the Managing Director and Co-CEO of Elektron Energy, a leading Nigerian energy infrastructure development company.

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Tola Talabi If you’re reading this, chances are you’ve experienced a power outage today. Maybe you’re running on a generator, or lucky enough to have solar and battery backup. Either
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THE BUMPY ROAD TO SELF SUFFICIENCY

THE BUMPY ROAD TO SELF SUFFICIENCY

Africa has to do more to make agriculture worth the while, argues 

AYUB O. MOHAMMED

Considering the existing cultures and heritages, Africa is the richest continent in the world beyond monetary value. Nigeria is at the forefront.It is a land of many resources. Amongst these gifts possessed by Nigeria and other neighboring countries are arable land, crude oil, limestone, etc. Efficient use of these materials can quicken economic stability and subsistence. Essentially, nourished and healthy intake of food is vital to the growth of all.

Nonetheless, agriculture is not limited to consumption. It cuts across various economical divisions: a source of revenue generation, occupation, a means to improving livelihood of the majority and other opportunities. For example, the Nigerian government informed the public that it will generate an estimate of N1.25 trillion ($803million) from wheat production in the year 2025. This ambitious goal is fostered by initiatives made to bolster food security by providing subsidized agricultural inputs to farmers across the nation while signaling that the sector can be beneficial in the international stage. However, are you aware that the happenings in the agricultural sector in relation to feeding, and the cost of its production in Africa are not too pleasant? This occurs as a result of certain impediments causing the low produce of agricultural extracts. Some of these issues are, foremost, the transportation system as a means of mobilizing farmers to their farms. After harvest, farmers encounter difficulties in conveying themselves and their produce from the field to the market. This trait constitutes itself as an obstacle in getting the crop proceeds to the populace timeously. Also, navigating roads to these farmlands particularly in Nigeria is difficult. The roads are neither motorable nor secure. Due to this farmers are frustrated. The presence of bad roads, banditry and the hike in cost of petrol are all troubling. Commercial drivers inflate fare prices at will which affects the bottom lines of these farmers. Secondly, fertilizers are gotten at exorbitant rates and access to it for cultivation is inconsistent. This poses a challenge to having a timely harvest.

 The President of FEPSAN, Abubakar Kassim, explained that the major reason for the increase of fertilizer is lack of implementation of the Fertilizer Control Act of 2019 which regulates the cost and administration of fertilizers in the country. In any case, I strongly believe that it is necessary to have alternative sources that will facilitate the growth and greenness of farm plants. Relatively, the desert still has memory of water. Therefore, it is intrinsic to not forget the pivotal role manure plays in the production of farm produce. Manure popularly known as “cow dumps” is a traditional method engaged by farmers to augment fertilizers. Usually, dumps are used in rural areas because of its availability. Irrespective, efforts can be made in getting it across urban regions in other to utilize its value.

Also, the use of manure remains crucial  because it is an added advantage and cost-effective. Additionally, cows are valuable for other domestic use such as livestock and milking.In some parts of West Africa, the decoction from this animal is known as ‘wara’ and can be likened to milk. It is a nutritious and proteinous. Apparently, inadequate produce of crops will affect the production of feed. As such, I suggest that this area is looked into forthwith as it would assist sustenance in husbandry and smoothen its rough edges accordingly.

Furthermore, the special impacts of farmers need be pointed out. African farmers are not UFO’s. They are aware of the goings-on in the land but without fail, an average man tends to intentionally and systematically resort to mediums to exploit another. For instance, Oyo, Benue, Cross River and others are the most important States in the production of cassava flour commonly called “garri”. Garri is locally made and free from any form of importation. Unfortunately, it finds itself competing with shipped-in commodities. In consideration to that, I suggest that an enforceable price-control regulation be made to checkmate the practice.

Importantly, solving agrarian poverty through mechanization and industrialization is key. German machines such as bulldozers, graders, trucks, etc., are meant to ease man-labour through ploughing even though not financially friendly. However, countries like Kenya and Ethiopia are seen to develop interest in making these machines available particularly for small holder farmers.

Conclusively, agri-business is a prospective avenue to generate income for the benefit of all.  Funds, policies are vital to this. These policies will serve as a public assistance scheme that will positively operate for the advantage of Africans and other nations across the globe.

 Ayub O. Mohammed, olamideayyub@gmail.com

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Africa has to do more to make agriculture worth the while, argues  AYUB O. MOHAMMED Considering the existing cultures and heritages, Africa is the richest continent in the world beyond
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Odu’a Investment Limited Celebrates 60 Years of Cocoa House 

Odu’a Investment Limited Celebrates 60 Years of Cocoa House 

Kemi Olaitan in Ibadan 

The Group Chairman, Odu’a Investment Company Limited (OICL), Otunba ‘Bimbo Ashiru, on Tuesday, assured investors of the commitment of the leadership of the conglomerate to make the iconic Cocoa House a hub for the future.

He gave the assurance at an event to mark 60 years since the inauguration of West Africa’s first skyscraper.

The commemorative event, which took place at the Cocoa House, Ibadan, drew dignitaries that include governors of the six South-west states, who were represented by their Secretaries to their State Governments (SSGs), business leaders and descendants of the visionaries behind the historic edifice, grandchildren of Chief Obafemi Awolowo and Chief Ladoke Akintola, among others.

Ashiru said the board under his leadership has no intention of letting the story of the edifice fade into nostalgia, adding that it would be a hub for integrating modern infrastructure, sustainable practices and cutting-edge facilities to preserve its soul.

He reflected on the building’s symbolic importance and resilience, recalling the devastating fire of January 9, 1985, that claimed lives and threatened its existence, describing its restoration as “an act of defiance” that demonstrated the indomitable spirit of the people.

He said: “Cocoa House, at 60 years old, is not just a building we work in; it is a living, breathing chapter of our collective story as a people. At 60, it is not slowing down; it is standing taller than ever, calling us to match its resilience with our own.

“May Cocoa House continue to inspire us to think big, act boldly, and work together for the good of our people.”

In his welcome address, the Group Managing Director of OICL, Mr. Abdulrahman Yinusa, described Cocoa House as more than a building, calling it a “statement” of the vision and enterprise of the Yoruba nation, tracing its history to 1965 when it was built from the proceeds of cocoa under the leadership of Chief Obafemi Awolowo and inaugurated by Chief Ladoke Akintola.

“Cocoa House is our talking drum – it calls us to remember who we are. She is our oríkì in stone and glass, telling the world of a people who could plant cocoa and harvest skyscrapers,” he said. 

Yinusa then highlighted recent upgrades, including modernization of the reception area, improved parking and enhanced surroundings, stressing OICL’s commitment to blending preservation with modernization.

The event also featured the premiere of a Cocoa House documentary, goodwill messages from the representatives of the South-west governors who are the shareholders, Development Agenda for Western Nigeria (DAWN) Commission, the South West Development Commission, and a panel discussion on ‘The Evolution of High-Rise Buildings in Nigeria.’

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Kemi Olaitan in Ibadan  The Group Chairman, Odu’a Investment Company Limited (OICL), Otunba ‘Bimbo Ashiru, on Tuesday, assured investors of the commitment of the leadership of the conglomerate to make
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