Author: The Nation

  • Agency director joins awards jury

    Agency director joins awards jury

    The Business Director for mediaReach OMDEmmanuel Adediran, has been appointed as a jury member for the 2026 Purpose Awards.

    Organised by Haymarket Media Group in association with Campaign, PRWeek, and Third Sector, the Purpose Awards EMEA (Europe, Middle East, and Africa) is the region’s premier platform for celebrating organisations and campaigns that drive social change through creative excellence and authentic purpose.

    The awards recognise outstanding work across 33 categories including charity, environment, equality, and public awareness with six categories dedicated to charities and NGOs.

    Adediran’s historic selection as jury member marks the first time a Nigerian-based professional will serve on the distinguished panel, reflecting the growing influence of African perspectives in global purpose-driven initiatives.

    Read Also: Queen Atang escapes injury as POP ceiling collapses at home

    A leading figure in Nigeria’s marketing communications and social impact sector, Adediran said: “I am deeply honored to join the Purpose Awards 2026 jury. This appointment is not only a personal milestone but also a testament to the innovation and impact emerging from Nigeria and across Africa.

     “I look forward to contributing to the recognition of campaigns that are making a meaningful difference in people’s lives.”

    The Purpose Awards 2026 shortlist will be announced in April and winners revealed at the awards ceremony in June.

    The jury comprises industry leaders from across the EMEA region, selected for their expertise, leadership, and commitment to advancing social impact through communication.

     “The Purpose Awards are the best way for Businesses to show they are a leader in this pivotal genre. The ongoing economic challenges, alongside political and societal issues, have made purpose campaigns more vital now than ever,” Deputy Editor at PR Week, Siobhan Holt, said.

  • Cash, digital payments must co-exist, says NIBSS

    Cash, digital payments must co-exist, says NIBSS

    • CBN emphasises infrastructure

    The Nigeria Inter-Bank Settlement System (NIBSS) has reiterated the crucial role of cash in the payment system, stressing that cash must co-exist with the e-payment services.

    Speaking at the 2026 Committee of Heads of Bank Operations Conference (CHBO) Conference in Lagos, Executive Director, Business and Products, Nigeria Inter-Bank Settlement System (NIBSS), Ngover Nwankwo, said inclusion must keep pace with innovation as digital payments expand.

    “Our focus is balancing innovation with inclusion, ensuring no Nigerian is left behind as digital payment adoption grows,” Nwankwo said.

    She stressed that cash remains vital and cannot be eliminated, insisting both cash and digital payments must coexist within Nigeria’s economy.

    “Cash and digital platforms must work together, protecting those who rely on cash while offering secure, efficient services to digital users,” she said.

    Nwankwo commended banks for operational improvements, noting cash availability in December 2025 was largely seamless with minimal public complaints.

    She also highlighted biometric authentication, allowing customers to request and verify cards using fingerprints without extensive documentation.

    Also, the Central Bank of Nigeria (CBN) has disclosed plans to introduce a new regulatory policy that would require banks’ prior investments in cash withdrawal and ATM infrastructure to secure card issuance approvals.

    Read Also: CAC, NIBSS unveil API to deliver specialised services

    The policy shift, currently under review before announcement was disclosed by CBN Governor, Mr. Yemi Cardoso, through his Special Adviser, Mr. Fatai Karim.

    He said the move would sanitise debit card issuance and Automated Teller Machine operations across Nigerian banks, targeting persistent cash access challenges.

    The apex bank said the initiative will align the number of cards issued by banks with deployed ATM infrastructure to curb congestion, downtime, and uneven cash availability nationwide.

    The CBN noted that recurring ATM failures and cash shortages continue to undermine confidence in electronic payment channels despite the rapid expansion of digital transactions across the banking system.

    The apex bank said banks will no longer be allowed to issue massive volumes of cards without corresponding investment in ATM and cash withdrawal infrastructure.

    “Very soon, the Central Bank will be coming up with another policy to sanitise and improve the situation, particularly around how many cards banks issue relative to the number of ATMs they support.

    “Certainly the next few months; once the engagement is concluded with other stakeholders, CBN will make an announcement. When cash access fails—whether due to prolonged ATM outages or uneven distribution—the credibility of the entire payment system is weakened,” the CBN stated.

    Karim said the CBN is engaging industry stakeholders and expects the policy to take effect within months, possibly before the end of the second quarter.

    Nigeria’s banks have aggressively issued debit cards over the years to support financial inclusion and digital payments, but ATM deployment has lagged behind.

    Card issuance expanded faster than ATM networks and cash logistics investments.

    Customers frequently experience long queues, empty machines, and failed transactions. Informal cash channels, such as POS operators, have filled gaps at higher costs.

    These structural gaps have persisted despite regulatory efforts to modernise payments and improve cash circulation nationwide.

    The proposed policy is expected to reshape banks’ card issuance strategies and accelerate investment in ATM infrastructure, uptime, and cash management.

    Banks will face tighter scrutiny over card issuance volumes and ATM deployment. Customers are expected to benefit from improved ATM availability and reduced transaction friction.

    Stronger infrastructure could reduce reliance on informal cash channels. The CBN said restoring credibility in cash access and electronic payments is critical to financial system stability and public trust.

    The CBN says cash remains relevant despite digital growth, particularly in informal markets and rural communities.

    Currency in circulation grew by 4.6 per cent in December 2025, compared with December 2024 figures, the CBN data showed.

    Cash demand rises sharply when electronic channels fail. Reliable digital channels help reduce pressure on physical cash.

    The apex bank insists its objective is not to eliminate cash but to strike a balance between cash and digital payments, ensuring Nigerians can always access cash while building confidence in electronic channels across the country during everyday transactions and emergencies nationwide.

  • Nigeria, UAE to partner on $400b commodities sector

    Nigeria, UAE to partner on $400b commodities sector

    Nigeria and United Arab Emirates are exploring ways to collaborate to enhance the development of Nigeria’s vast commodity ecosystem, with potential to unlock more than $400 billion.

    The partnership, involving the Lagos Commodities and Futures Exchange (LCFE ), seeks to galvanise private-sector investors to position Nigeria as a gateway to Africa’s $1 trillion commodities market.

    Nigeria alone represents about $400 billion in opportunities across agriculture, energy, gold, and lithium.

    LCFE’s collaborations with the UAE are expected to advance lithium processing, livestock development, food security, and commodities trading.

    Ambassador of the United Arab Emirates, Salem Saleh Omar Al Jaberi, paid a courtesy visit to the LCFE to further talks on areas of collaboration.

    Managing Director, Lagos Commodities and Futures Exchange (LCFE ), Akin Akeredolu-Ale, highlighted the role of private-sector-led initiatives in driving efficiency, capital formation, and infrastructure delivery.

    He cited projects such as the Second Niger Bridge and Sukuk-backed road networks as evidence that structured private investment ensures continuity and measurable outcomes.

    According to him, the Exchange is also expanding its ecosystem of dealing member firms and commodity brokers, while promoting gold trading through LBMA-standard bars stored in Free Trade Zones, enabling tariff-free access for institutional investors, including pension funds.

    Read Also: UAE, Nigeria record growth in diplomatic, trade, other ties

    Akeredolu-Ale noted that LCFE is increasing its involvement in large-scale rice production, livestock and fodder development, and the production of export-ready organic produce.

    He disclosed that memoranda of understanding have been signed with some state governments, while the UAE has been granted first right of refusal on commodity exports.

    He added that recent reforms decentralising electricity generation have created new private investment opportunities in metering, revenue collection, and infrastructure optimisation.

    He said: “These initiatives underscore LCFE’s commitment to leveraging private-sector partnerships to drive inclusive growth, deepen Nigeria’s commodities markets, and strengthen the country’s position as a hub for Africa’s rapidly expanding commodity economy”.

    Director General, AIM Congress, Walid Farghal, called for broader participation in the commodities market, particularly among entrepreneurs and youth.

    He highlighted the role of digitisation, tokenisation, and strategic promotion in attracting global investors, drawing parallels with Dubai’s National Bonds model.

    According to him, investor confidence is driven by liquidity, ease of exit, and secure market structures.

  • LCCI: 2026 budget opportunity to scale up economic recovery

    LCCI: 2026 budget opportunity to scale up economic recovery

    • Chamber calls for enhanced budget implementation

    The Lagos Chamber of Commerce & Industry (LCCI) has stated that the 2026 Budget presents a credible opportunity to move Nigeria from recovery to expansion.

    In an address on the state of the economy, President, Lagos Chamber of Commerce & Industry (LCCI), Leye Kupoluyi said the success of the budget would depend less on size of allocations but more on execution discipline, capital efficiency, and sustained support for productive sectors.

    He said LCCI remains committed to working with the government to ensure the budget delivers stronger growth, more jobs, and a more competitive Nigerian economy.

    He expressed concerns about what he called Nigeria’s historically weak budget implementation capacity that is likely to be further strained by the operation of multiple budget cycles within a single year. 

    According to him, efficient budget implementation has important implications for fiscal coordination, transparency, and effective project execution.

    He identified agriculture, agro-processing, manufacturing, infrastructure, energy, and human capital development as key growth drivers in 2026 but added that  unlocking these sectors will require decisive execution, scaling irrigation and agro-value chains, reducing power and logistics costs for manufacturers, accelerating infrastructure delivery through PPPs, sustaining oil and gas sector reforms, and aligning education and skills development with private-sector needs.

    Read Also: LCCI warns over influx of livestock products

    Also, he cautioned the government on the continued rise in the nation’s debt to N152.40 trillion, reflecting a year-on-year increase of N18.10 trillion or 13.5 percent, compared to N134.30 trillion recorded in the same period in 2024.

    He said: “This also represents a quarter-on-quarter rise of N3.01 trillion or 2.0 percent, up from N149.39 trillion in March 2025. This consistent upward trajectory in Nigeria’s debt stock reflects both fresh borrowings and the impact of a depreciating exchange rate on external debt obligations. External debt rose to N71.85 trillion ($46.98 billion), a year-on-year increase of N8.77 trillion or 13.9 percent, while domestic debt reached N80.55 trillion ($52.67 billion), marking a 13.1 percent increase from the N71.22 trillion recorded in Q2 2024. Available reports suggest that once the National Assembly approves the outstanding loan requests currently under review, the nation’s total debt stock could surpass $190 billion”.

    Furthermore, he said the World Bank has attributed the rise in public debt stock to the weak fiscal position of the Federal Government, with the deficit widening to 3.8percent as independent revenues fell and spending pressures from wages and interest costs mounted. He however, noted that Nigeria’s public debt remains sustainable, but subject to budgetary vulnerabilities.

    In view of the widening debt profile he urged the government to intensify efforts to expand non-oil revenue, improve tax efficiency and compliance, and curb recurrent expenditure.

    Strengthening fiscal discipline, closing leakages, and enhancing public financial management will be crucial to sustainably funding national development priorities without excessive dependence on borrowing. A more strategic balance between revenue generation and prudent debt accumulation is essential to safeguarding economic stability and long-term growth, he stated.

    On the proposed sale of National Assets, he stressed that though the Federal Government projected N189 billion in revenue from asset sales and privatisation as part of a N25.27 trillion financing plan to bridge the fiscal gap, specific assets were not listed. He said from their sources the proposed transactions span oil and gas, power, transport, industry, real estate, and other strategic sectors, aimed at monetising public holdings and reducing direct state involvement in commercial activities.

    “LCCI acknowledges the approach as a means of easing fiscal pressure and improving efficiency, provided the process is transparent, competitively executed, and supported by strong governance frameworks. We urge the publication of a clear asset list, timelines, and use of proceeds, and recommend that the funds be reinvested in infrastructure, human capital, and productivity-enhancing projects”.

    Above all, the Chamber stresses that privatisation should form part of a broader structural reform agenda, not merely a short-term financing measure, to ensure sustainable growth and long-term national value, he added.

    On delayed payment to contractors, he noted the provision of Federal N1.7 trillion in the 2026 budget reflects a formal acknowledgment of persistent payment delays to contractors. This provision he said aims to settle verified 2024 capital project liabilities and ease the financial distress faced by indigenous contractors.

    However, he maintained that recurring backlogs highlight structural issues such as weak revenue performance and delayed capital releases. He called for sustained fiscal discipline and timely cash backing to restore contractor confidence and enable infrastructure delivery.

    While commending the government on local production of LPG, he said local refineries and gas processing plants supplied 87 percent of Nigeria’s cooking gas (LPG) demand in 2025 representing one of the most consequential structural shifts in Nigeria’s downstream energy landscape in decades.

    According to him this is not merely an incremental improvement; it is a decisive break from chronic import dependence and a clear signal that domestic energy industrialization is finally gaining scale, credibility, and momentum.

    The sharp decline in LPG imports delivers meaningful foreign exchange relief, easing pressure on the naira and improving the balance of payments. Local production allows scarce FX to be redirected toward manufacturing, infrastructure, and economic growth he stated.

    Producing 87 percent of cooking gas locally is a practical demonstration that import substitution works when driven by infrastructure and market discipline, offering a replicable model for Nigeria’s broader economic transformation, he noted.

    On the new tax regime, Kupoloyi said after due consideration of the implications of the new tax laws for businesses, we call on companies to continue their operations and remain formal with the tax authorities as implementation commences.

    “We see the process as an essential reform to update the fiscal framework, enhance competitiveness, and increase revenue. However, successful implementation requires clarity, transparency, collaboration, and business-focused execution to achieve economic benefits without stifling growth”.

  • NCC blames absence of roadmap for gaps in spectrum planning

    NCC blames absence of roadmap for gaps in spectrum planning

    Telecom sector regulator, the Nigerian Communications Commission (NCC) has identified the absence of a cohesive national spectrum roadmap for existing gaps in spectrum holdings and effective long-term planning which has stunted the industry’s growth.  

    According to a Draft Spectrum Roadmap for the Communications Sector (2025 – 2030), the regulator noted that since liberalization, Nigeria has allocated approximately 12.5 gigahertz (GHz) of spectrum (across terrestrial and satellite bands), enabling over $75 billion in telecom infrastructure investment.

    “These investments have spurred growth far beyond the sector—supporting financial inclusion, e-commerce, telemedicine, e-government services, and broader digital transformation.

    “Despite these achievements, the absence of a cohesive national Spectrum Roadmap has left gaps in spectrum holdings and effective long-term planning. With digital technologies now central to every sector—agriculture, health, education, manufacturing, logistics, and trade—a forward-looking spectrum management plan is imperative,” the Commission said.

    The Roadmap, it said, is developed to build on the current foundation while charting a course to meet future data and broadband demands in line with Nigeria’s 2030 ambition for universal connectivity, inclusive digital innovation, and a globally competitive digital economy.

    The document envisions that by 2030, spectrum in Nigeria would have enabled universal, high-speed broadband access across urban and rural areas; powered inclusive digital innovation across health, education, agriculture, and commerce; strengthened national security, public safety, and emergency communications; and positioned Nigeria as a top-tier digital economy in Africa and a model for spectrum governance globally.

    Read Also: NCC: impact of spectrum opening coming

    Linking spectrum to broader economic transformation, the document noted that the transformative impact of spectrum extends far beyond telecommunications.

    These past investments—though made without a formal roadmap—have yielded substantial socio-economic returns across multiple sectors.

    With digital infrastructure now deeply embedded in how governments deliver services, how businesses operate and how citizens interact with the economy, the role of spectrum has become foundational to national development.

    The Commission noted that recent estimates put the telecom sector’s total contribution to GDP at over ₦33 trillion, underpinned by rising broadband penetration, expanded network coverage, and increased digital inclusion.

    “But the true impact of spectrum lies in its multiplier effect across the broader economy—enhancing productivity, access, and efficiency in sectors ranging from agriculture and manufacturing to trade, healthcare, and governance,” the Commission said, adding that Nigeria has already seen improved efficiencies in financial inclusion, use of digital technology for voter registrations and others.

    It put infrastructure investment to be over $75billion; internet usage +1,000,000 TB; broadband coverage +80per cent Mobile subscribers +170million; and internet subscribers +200k

    “Furthermore, studies have shown that digitization of other sectors through the use of wireless services will have a similar positive impact on efficiency, effectiveness and reach of public services,” the Commission noted.

  • Promasidor restates commitment to societal

    Promasidor restates commitment to societal

    Food and beverage company Promasidor Nigeria has reinstated its commitment to promoting education and child nutrition in the country through various initiatives.

    The company’s Chief Executive Officer, Francois Gillet, reinstated this commitment in commemoration of this year’s International Day of Education.

    He emphasised the strong link between nutrition and education, stating that proper nutrition is critical to helping children reach their full potential by providing the nourishment they need to learn, grow, and thrive.

    The Promasidor boss affirmed that the company’s dairy products are fortified with key nutrients, including calcium, vitamins, and essential minerals, which are vital for bone development, cognitive function, and overall well-being.

    He stated that the company’s belief that improved nutrition directly contributes to better educational outcomes and long-term societal growth defines the quality of its products.

    Promasidor has been enhancing educational quality in schools across the country through its high-quality nutritional products and initiatives.

    Read Also: Eno appointed Promasidor Nigeria’s Director

    For instance, through the ‘Ikun Milk Day’ programme, Promasidor has also provided its dairy products that contain essential nutrients to students.

    For nearly a decade, Promasidor has empowered secondary school students nationwide through its flagship career guidance programme, “Harness Your Dream.”

    The initiative targets Junior Secondary School 3 (JSS 3) students at a critical stage when career-defining academic decisions are made, equipping young Nigerians with the knowledge needed to pursue sustainable, fulfilling career paths.

    This stems from the company’s over two decades of mathematics subject development through its programme ‘Cowbellpedia TV Quiz Show.’

    Cowbellpedia, themed ‘Mega Minds’ in 2025 has recently been made more comprehensive to cover subjects, such as Science, Technology, Engineering, Mathematics (STEM); to reflect the broader areas of interest for students, with a bigger prize offering of up to N100 million, including cash rewards, laptops, other learning equipment, and products.

    The top winners were also offered an all-expense paid educational excursion to South Africa. This underscores the company’s mission to contribute meaningfully to the country’s educational development, a practical demonstration of how the private sector can help strengthen educational standards through collaboration.

    Promasidor Nigeria, with a portfolio of unique brands that include Cowbell, Loya Milk, Miksi, Top Tea, Onga Seasoning, Twisco, and Kremela, is committed to connecting with consumers through worthy initiatives.

  • Oil rises further as IEA predicts surplus in Q1

    Oil rises further as IEA predicts surplus in Q1

    WTI crude oil futures rose more than two per cent to about $60.8 per barrel on Friday, extending gains for a fifth straight week supported by geopolitical and supply risks. The move followed renewed warnings from US President Donald Trump toward Iran, raising concerns over potential military action that could disrupt oil flows.

    Trump said the US has an armada heading toward Iran, while US officials confirmed warships including an aircraft carrier and guided missile destroyers will arrive in the Middle East in coming days.

    Supply worries were reinforced by ongoing outages in Kazakhstan, where output at the giant Tengiz oilfield has yet to resume after a shutdown earlier this week.

    Also, the dollar slid toward its worst week in seven months, making crude cheaper for non-US buyers amid strained US-Europe relations and unresolved Ukraine peace talks.

    However, gains remain capped by expectations of oversupply, with the IEA projecting global stockpiles to rise by 3.7 million bpd this year.

    Meanwhile, the global oil market will be in deep surplus in the first quarter of 2026, the International Energy Agency (IEA) has said. It based its predictions on the excess supplies which has offset the geopolitical risk of disruption.

    The IEA, which advises industrialised countries, in its monthly oil report projected global oil supply would exceed demand by 4.25 million barrels per day in the first quarter. A surplus of that size would be about four per cent of world demand and is larger than other predictions.

    Read Also: DSS nabs suspected sea pirates, foils hijack of crude oil vessel, abduction of crew members

    Oil prices have risen about six per cent since the start of the year, as concerns about geopolitics and possible oil market disruption drove buying. Global benchmark Brent was trading at $65.02 last week.

    The U.S. captured Venezuelan President Nicolas Maduro at the start of the month and called on oil companies to invest in Venezuela to boost production, but in the short-term supplies from the country have been disrupted. Threats of possible U.S. strikes on Iran have also raised the prospect of reduced supplies and drone attacks and technical issues have reduced output in Kazakhstan.

    “Barring any significant disruptions to supplies in Iran, Venezuela, or further cuts from other producers, a significant surplus is likely to re-emerge in the first quarter of 2026,” the IEA said. “For now, bloated balances provide some comfort to market participants and have kept prices in check.”

    Supply has risen faster than demand mostly because OPEC+, or the Organisation of the Petroleum Exporting Countries plus Russia and other allies, began boosting output in April 2025 after years of cuts. Other producers, such as the U.S., Guyana, and Brazil, have also increased production.

    OPEC+ has, however paused its output hikes for the first quarter of 2026. For the whole year, the market faces an implied surplus of 3.69 million bpd, the IEA’s latest figures indicated a downward revision from 3.84 million bpd in last month’s report.

    In response, Ecuador’s energy minister said Colombian crude being transported on the OCP pipeline – Ecuador’s second-largest – would face ‘reciprocity’,

    Helping to erode the surplus forecast, the IEA revised up its prediction for world oil demand growth by 70,000 bpd to 930,000 bpd, citing what it called a normalisation of economic conditions after last year’s tariff turmoil, and lower oil prices than a year ago.

    The IEA said it is too early to assess the full implications of all the latest geopolitical developments on the oil market, but said the U.S. blockade on Venezuelan oil shipments had lowered exports by 580,000 bpd from December to early January.

    The surplus will build up in the first quarter in particular as that is when global oil refiners carry out planned shutdowns and demand is lower.

    “With seasonal refinery maintenance about to commence, reducing demand for crude, further reductions in crude production will be needed,” the Paris-based IEA said.

    Rival forecaster OPEC expects faster demand growth than the IEA, predicting oil use will rise by 1.38 million bpd this year. OPEC’s data indicate a near balance between supply and demand in 2026, according to a Reuters calculation, rather than a surplus.

    On supply, the IEA revised its global growth forecast for this year higher, to 2.5 million bpd from around 2.4 million bpd in December, saying around 52 per cent of the growth will come from outside OPEC+.

  • Nigeria records steepest cattle price rise

    Nigeria records steepest cattle price rise

    Cattle prices across West Africa climbed sharply between 2024 and 2025, with Nigeria recording the steepest increases as inflation, rising feed and transport costs, and strong festive demand collided with tightening supply, according to market data and industry reports.

    A  RaboResearch report had warned that global cattle prices were set to rise, a forecast that has since played out across much of the region.

    In response to growing demand and the need to modernise livestock trade, a 24-hour International Livestock Market was launched in December at Volivo in Ghana’s Shai-Osudoku District of the Greater Accra Region.

    The market, provided by the Lower Volta Association of Small-scale Miners and Farmers, includes production and processing zones, logistics infrastructure and a trade centre. Designed as a comprehensive agribusiness hub, the facility aims to strengthen Ghana’s livestock value chain, expand regional trade and create sustainable employment, particularly for youth and women.

    When fully operational, it is projected to generate more than 1,600 direct and indirect jobs for farmers, traders, transporters, processors and allied service providers.

    Across Nigeria, however, price pressures have been especially acute. From northern pastoral hubs to major urban livestock markets in Abuja, Lagos and the South East, buyers faced year-on-year price increases ranging from 50 per cent to well over 100 per cent, according to market observations and media reports.

    In 2024, small cows weighing under 200 kilogrammes typically sold for between ₦150,000 and ₦250,000 in markets such as Maiduguri, Kano and Kara near Lagos. Medium-sized cows, weighing between 200 and 350 kilogrammes, traded in the ₦250,000 to ₦400,000 range, while large cows exceeded ₦400,000 depending on breed and condition. These prices reflected relatively stable supply conditions and proximity to Sahelian cattle corridors.

    By 2025, prices had escalated sharply across all size categories. In Abuja’s Durumi livestock market and other major urban centres, small cows were commonly priced between ₦500,000 and ₦600,000, while medium-sized animals sold for between ₦800,000 and ₦1 million. Large cows, particularly premium breeds such as Sokoto Gudali, were reported to be selling for as much as ₦1.5 million to ₦2 million.

    Read Also: Kwara South council chairmen shut cattle markets over insecurity

    Regional disparities that once favoured northern buyers also narrowed significantly. In 2024, medium-sized cows in Maiduguri and other northern markets traded for as low as ₦150,000 to ₦350,000, while prices in southern markets such as Kara and Ibadan ranged from ₦200,000 to ₦450,000. By 2025, even northern markets experienced steep increases, with average cows approaching ₦500,000 during peak festive periods.

    Ghana’s cattle market followed a different. In 2024, adult cows weighing roughly 400 to 600 kilogrammes sold for between GHS2,500 and GHS5,000 in northern rural markets, with higher prices in Accra and Kumasi reflecting transport and processing costs. At prevailing exchange rates, this placed Ghanaian cattle broadly in the $400 to $800 range.

    Last year, however, Ghana experienced a rare seasonal softening of prices ahead of Eid-ul-Adha. Reports from the Kumasi abattoir indicated that cattle arrivals surged to more than 4,000 animals in June, compared with about 1,000 during the same period the previous year. The influx, supported by a stronger cedi and increased cross-border inflows, pushed prices lower.

    Cows that sold for around GHS20,000 during the 2024 festive season were trading closer to GHS15,000 in 2025, while others fell from GHS15,000 to approximately GHS10,000, according to the Ghana News Agency via Modern Ghana. The contrast with Nigeria underscored how currency strength and improved supply flows can moderate seasonal demand pressures.

    In Senegal, cattle prices remained elevated throughout the period, with medium to large cows often valued between XOF800,000 and XOF1.5 million, equivalent to roughly $1,300 to $2,500. Senegal’s market structure, which places increasing emphasis on genetic improvement and controlled imports rather than large-scale live cattle inflows, has helped keep prices firm between 2024 and 2025.

    A comparison of medium-sized cow prices across selected West African countries highlights the divergence. In Nigeria, prices rose from ₦250,000–₦400,000 in 2024 to ₦800,000–₦1 million in 2025. In Ghana, medium cows averaged GHS2,500–GHS5,000 in 2024 and remained similar or slightly lower in 2025 ahead of Eid due to improved supply. In Senegal, prices remained broadly stable at XOF800,000–XOF1.5 million across both years.

    Seasonal demand linked to Eid-ul-Adha, Eid-ul-Fitri and Christmas continues to drive sharp price spikes across the region. At the same time, insecurity has emerged as a growing structural factor. A report by the Global Initiative Against Transnational Organized Crime (GI-TOC) found that cattle rustling has become “a primary economic tool” for violent extremist organisations and some state-affiliated militias operating across the Sahel.

    As these groups expand southwards, the tri-border area encompassing Burkina Faso’s Sud-Ouest, Côte d’Ivoire’s Bounkani and Ghana’s Upper West has become a critical hub for illicit livestock trade. The report identified Ghana’s Upper West region as the primary “laundering hub” for stolen cattle, noting that animals rustled in conflict zones are driven across porous borders into Ghana or Côte d’Ivoire to obscure their origins. By April 2025, the report said, Ghana had emerged as “the most significant laundering zone by volume”.

    “The impact on local communities is devastating,” the report noted, adding that a single raid can wipe out a herder’s entire life savings. Without stronger cross-border coordination and comprehensive data to track livestock movements, GI-TOC warned that cattle rustling would continue to fuel regional instability and undermine peace-building efforts across West Africa.

    Separately, researchers at the Roslin Institute, working with the University of Makerere in Uganda, have demonstrated how detailed cattle movement data can support disease surveillance and policy planning. By analysing official trade and movement records, the team identified key hubs and seasonal patterns that could guide targeted interventions against highly contagious Transboundary Animal Diseases.

    “Understanding and managing these diseases is crucial,” the researchers said, particularly in countries where livestock plays a central role in livelihoods and economic stability. They added that improved data could help authorities allocate resources more effectively, prevent outbreaks and reduce the wider economic risks associated with livestock trade across sub-Saharan Africa.

  • AWAMN: weak enforcement, poor support undermining years of progress

    AWAMN: weak enforcement, poor support undermining years of progress

    From the private sector, however, concerns are growing that Lagos is losing ground it once painstakingly gained. The President of the Association of Waste Managers of Nigeria (AWAMN), Dr. Olugbenga Adebola, cautioned that policy inconsistency, weak enforcement, and insufficient government support are steadily eroding decades of progress. “There was a time when Lagos moved from being one of the dirtiest cities in the world to one of the cleanest in Africa,” Adebola recalled. “By the end of Asiwaju Bola Ahmed Tinubu’s tenure as governor, Lagos had won awards and became a model for other states and African countries. We should not be back at this level.”

    Adebola stressed that waste management is a capital-intensive, private-sector-driven business. “This is not a Father Christmas service. Investors will only come where there is certainty of returns. At the moment, the enabling environment is not encouraging,” he said. He pointed to poor compliance with laws requiring households to register with and pay PSP operators. “Those who refuse to pay are often the same people dumping waste on highways and in drainages, and that is what destroys the city’s aesthetics,” he noted.

    Population pressure, he added, has compounded the challenge. As West Africa’s economic hub, Lagos attracts millions of daily visitors who generate large volumes of waste. “Lagos is catering to a massive population with a relatively limited budget,” Adebola said, renewing calls for special federal status for the state to reflect its unique burden. He also criticised the continued reliance on ageing dumpsites. “Olusosun is almost 40 years old. We should have moved from burying waste to treating waste. Waste is not waste unless you waste it,” he said.

    Read Also: Firm wins Dangote Cement’s largest distributor award

    According to Adebola, more than half of Africa’s waste stream is organic and can be converted into fertiliser, biogas, or biomethane, while high-calorific waste can be processed into refuse-derived fuel. Globally, he noted, governments subsidise waste management because it is a public good. “Here, operators are struggling with bank loans at 29 or 30 per cent interest. That is not sustainable.” He warned that poor waste management represents a form of “pre-healthcare failure,” directly linked to malaria, cholera, dysentery, and Lassa fever. Without subsidies, grants, and affordable financing, he cautioned, Lagos risks squandering the gains it once achieved.

    As Lagos explores solutions ranging from expanded recycling to waste-to-energy initiatives, the message from both regulators and operators is clear: a clean city cannot be delivered by trucks and laws alone. It requires consistent policy, sustained investment, and, above all, a shift in public behaviour. For a megacity already straining under its own success, how it manages its waste may ultimately determine its health, longevity, and economic resilience.

    He also highlighted the impact of inflation on equipment costs, noting that foreign-used compactor trucks that sold for about N8–N10 million a few years ago now cost between N55 million and N60 million. “This is the reality we are facing,” Adebola said. “That is why we are calling on the Federal Government, and on President Bola Ahmed Tinubu, our grand patron, to establish special funding to support waste management. Without such intervention, the gains we once made will continue to slip away.”

  • Abiodun bows out as Lasaco Assurance MD/CEO

    Abiodun bows out as Lasaco Assurance MD/CEO

    The Board of Directors of Lasaco Assurance Plc has approved the retirement of Mr Razzaq Abiodun as Managing Director effective May 16, 2026.

    A statement by Mr Gertrude Olutekunbi, Lasaco Company Secretary, named Mr Ademoye Shobo as the Acting MD/CEO following Abiodun’s retirement.

    Since he took over as MD/CEO in 2021, Abiodun grew Lasaco’s revenue from N13 billion to N30 billion in 2025, declared profit and paid dividends for all the years.

    Read Also:Obanikoro lauds LASACO Assurance MD’s vision

    Abiodun has over 30 years experience in the insurance industry spanning claims, underwriting and marketing.

    “We express our sincere appreciation for your dedicated service, leadership and contributions to the growth and success of LASACO Assurance Plc throughout your tenure.

    “We shall continually seek your support and collaboration and urge you to be an ambassador of LASACO,” said the Company Secretary.