The Nation Newspaper

Category: Business

  • Rite foods rises to 22nd place in 2025 top 50 brands Nigeria ranking

    Rite foods rises to 22nd place in 2025 top 50 brands Nigeria ranking

    In a resounding show of brand strength and consumer trust, Rite Foods Limited, Nigeria’s foremost indigenous producer of quality beverages and snacks, has climbed five spots higher in the 2025 Top 50 Brands Nigeria ranking, moving from 27th position in 2024 to 22nd place this year.

    This remarkable rise underscores Rite Foods’ growing dominance in the nation’s fast-moving consumer goods (FMCG) sector and highlights its deep connection with Nigerian consumers through innovation, quality, and a spirit of resilience.

    The Top 50 Brands Nigeria ranking—widely regarded as the country’s most credible brand performance evaluation—is built on a globally benchmarked Brand Strength Measurement (BSM) Index that assesses corporate reputation, consumer sentiment, digital engagement, and category leadership.

    Rite Foods made its debut in the elite ranking in 2021 and, in just five years, has leapfrogged 28 places, reflecting sustained growth and strong brand equity.

    According to the 2025 report, Rite Foods’ consistent upward trajectory is driven by its unwavering commitment to excellence, customer satisfaction, and innovation across its product lines—from Bigi Carbonated Soft Drinks and Sosa Fruit Juice to Fearless Energy Drink and Rite, Bigi, and Flex Sausage Rolls.

    Commenting on the recognition, Managing Director, Seleem Adegunwa, said the milestone affirms the company’s mission to continuously raise standards in Nigeria’s food and beverage industry.

    READ ALSO: Enablers of Kanu self-destructive behaviour

    “We are immensely proud to see Rite Foods recognised once again among the Top 50 brands powering Nigeria, and even more delighted to have moved up five places this year,” Adegunwa stated.

    “This achievement reflects our team’s passion, our consumers’ loyalty, and the unyielding Nigerian spirit that drives us to keep raising the bar.”

    Beyond its commercial success, Rite Foods continues to deepen its impact through its EYEC framework—a Corporate Social Responsibility (CSR) initiative that focuses on Education, Youth Empowerment, Environmental Stewardship, and Community Development. These programmes have bolstered the company’s reputation as a socially responsible corporate citizen.

    The organisers of the Top 50 Brands Nigeria initiative praised the 2025 honorees for their “ability to meet consumer expectations, remain competitive, and consistently deliver on their promises.”

    Rite Foods’ sustained progress in the ranking reaffirms its standing as a proudly Nigerian brand built on integrity, innovation, and resilience—a symbol of excellence that continues to inspire confidence both at home and beyond.

  • FirstBank redeems $350m Eurobond

    FirstBank redeems $350m Eurobond

    First Bank of Nigeria Limited (FirstBank) redeemed its $350 million Eurobond upon maturity yesterday.

    The Eurobond was issued as Senior Notes in October 2020 at 8.625 per cent with semi-annual coupon payments, which was 70 per cent oversubscribed at the time, evidencing FirstBank’s deep market access and investor confidence.

    The proceeds of the Senior Notes were used to, among others, finance various customer projects and activities, some of which were of vital national and economic importance.

    Chief Executive Officer, FirstBank Group, Olusegun Alebiosu, said the redemption reflected FirstBank’s effective liability management strategy as it further demonstrated the bank’s robust foreign currency liquidity and unrivalled franchise strength.

    He said the redemption also cemented FirstBank as a preferred issuer in the international investment community.

    According to him, with this redemption, FirstBank has now successfully redeemed $1.275 billion over four maturities, since it 2007 vintage issue.

    “This redemption is entirely from the Bank’s balance sheet, reflecting FirstBank’s superior assets and liabilities management, the unrivalled franchise strength and reinforces the confidence that the investment community reposes in FirstBank,” Alebiosu said.

    He reaffirmed FirstBank’s 131-year legacy as a leader in corporate banking in Nigeria and across Sub-Saharan Africa.

    READ ALSO: Commanding from the front: Tinubu strengthening national security architecture

    He also assured customers of the bank’s commitment to meeting their transaction banking, treasury and cash management needs, through differentiated product offerings, powered by recent cutting-edge technological investments aimed at further streamlining its processes and improving customer experience.

    Recently, Fitch affirmed FirstBank’s Long-Term Issuer Default Ratings (IDRs) at ‘B’ and upgraded the bank’s National Long-Term Ratings to ‘A+(nga)’ from ‘A(nga)’, both with ‘Stable’ outlooks, further reinforcing the Bank’s credit capacity and excellent balance sheet quality.

    In recognition of FirstBank’s leadership in corporate and transaction banking in Nigeria, the Bank was awarded the Best Bank for Corporates in 2024 by Euromoney, Global Finance and World Economic Magazine.

  • Fed Govt develops framework to prevent electricity debt accumulation

    Fed Govt develops framework to prevent electricity debt accumulation

    In its bid to prevent accumulation of debts, the Federal Government yesterday revealed that it is developing a comprehensive framework to settle the N4 trillion power sector liabilities.

     Permanent Secretary, Ministry of Power, Mahmuda Mamman, broke the news yesterday at the opening of the two-day 10th anniversary celebration of the Association of Power Generation Companies (APGC), with the Theme, “A Decade of Powering Progress: Driving Nigeria’s Energy Transformation”, in Abuja.

    The milestone event which was organized by the Association of Power Generating Companies (APGC) in collaboration with the NESI Market Participant & Stakeholders (NMPSR), brought together all the stakeholders to chart a way forward for the nation’s power sector.

    According to Mamman noted that President Bola Tinubu in his characteristic responsive leadership style, is fully aware of the liquidity challenges facing the Nigerian Electricity Supply Industry (NESI), particularly the debt burden on generation companies.

     He said in recognition of the critical importance of resolving the issue for the sustainability of the power sector, Mr. President has constituted a Committee specifically mandated to address the payment of outstanding debts owed to the Gencos.

    He said:  “This  Committee has been charged with the responsibility of developing a comprehensive framework for clearing these debts and establishing sustainable payment mechanisms that will prevent such accumulations in the future.”

    The Permanent Secretary, who was represented by the Director, Planning Research and Statistics of the Ministry, Evangeline Babalola, submitted that the government recognizes that access to reliable and affordable electricity remains one of Nigeria’s most pressing developmental challenges.

    READ ALSO: Enablers of Kanu self-destructive behaviour

    Noting that the gap between the current generation capacity and national demand continues to constrain economic productivity, limit social development, and affect the quality of life of millions of Nigerians.

    This reality, he added, underscores the urgency and importance of the work that APGC and its members undertake daily as the foundation upon which the nation’s energy future must be built.

    Mamman maintained that “the transformation of Nigeria’s energy sector that we all desire cannot be achieved without financially healthy and viable generation companies. As government takes steps to address the systemic challenges in NESI, we count on your continued partnership, technical expertise, and innovative spirit to drive the sector forward with lasting impacts on our nation’s development trajectory,” he said.

    Speaking on the role of Association in an effective and viable NESI, the Managing Director of the Nigerian Independent System Operator (NISO), Engr. Abdullahi Mohammed, said the event is not merely a ceremonial milestone, but a moment for deep reflection on how structured associations like APGC can continue to drive sectoral transformation while maintaining the delicate balance between collective advocacy and individual accountability within our evolving electricity market. Noting that Industry associations are integral to the maturity of any electricity market.

    He noted that the creation of APGC in 2014, shortly after Nigeria’s power sector privatization, represented a turning point.

    “It provided the newly privatized generation companies a unified and credible institutional framework to: Articulate shared operational and commercial challenges; Engage constructively with sector stakeholders that now includes the NISO; and Contribute technical insights to policy and market development.

    He said the NISO is willing to work with the APGC and other association in the industry to deepen efficiency and grid reliability.

    Also speaking, the Chairman, Senate Committee on Power, and Senator representing Abia South senatorial district, Enyinnaya Abaribe, said as the APGC

    celebrate the milestone achievements, the government must also acknowledge the formidable challenges that continue to confront the sector.

    “Issues of infrastructure deficit, tariff structures, gas supply constraints, and financial sustainability remain pressing concerns that demand continued collaborative action. However, it is precisely in confronting these challenges that APGC has demonstrated its greatest value, providing a platform for collective problem-solving and unified advocacy that amplifies the voice of individual Generation Companies,” he noted.

    Looking ahead, the Senator said “the future of Nigeria’s energy transformation rests upon our collective commitment to innovation, investment, and inclusive stakeholder engagement.

    “The power generation sector remains fundamental to our national development aspirations, and the role of APGC in facilitating dialogue, promoting best practices, and advocating for enabling policies cannot be overstated.

     “As our nation pursues ambitious goals of energy access, economic diversification, and industrial growth, the contribution of Generation Companies and their representative association will be absolutely critical.”

    He commended the leadership and members of APGC for their resilience, professionalism, and dedication over the past decade.

    Adding that the association’s commitment to advancing the interests of the power generation sector while maintaining constructive engagement with all stakeholders is truly commendable.

    On his part, the Chairman, House Committee on Power, and Member representing Ika North East/Ika South Federal Constituency in the House of Representatives,  Rt. Hon. Victor Nwokolo, reiterated President Bola Tinubu’s unwavering commitment to resolving the GenCos’ liquidity crisis, especially the N4trillion debt.

    Represented by the Member representing Southern Ijaw Federal Constituency of Bayelsa State, Hon. Rodney Ambaiorei, the Chairman called for collaboration among stakeholders to address mountainous sector challenges.

    Earlier, in her Welcome Address, Dr. Joy Ogaji, said the APGC was established not only as a voice but as a bridge for the power sector, noting that the sector is still facing endemic challenges hindering the progress of power generation and distribution in the country.

    “Ten years ago, the power sector stood at the crossroads of transition. The privatization of 2013 opened new doors, but also new uncertainties. Generation Companies (GenCos) were born into an evolving market,filled with promise, yet fraught with challenges: liquidity shortfalls, gas constraints, infrastructure bottlenecks, and policy inconsistencies.

    “In that moment of uncertainty, APGC emerged, not just as an organization, but as a voice, a bridge, and a conscience for Nigeria’s power generation industry.

    “From those humble beginnings, nurtured by visionaries and powered by persistence, we have grown into a respected, results-driven association, one that advocates, educates, and unites the generation companies under a common purpose: to power Nigeria’s future sustainably and responsibly,” she recalled.

    Dr. Ogaji disclosed that over the past decade, the APGC has remained unwavering in its mission to provide a level playing field for members, share knowledge, and promote best practices that enhance operational excellence and policy integrity within NESI.

    “Through constructive dialogue and firm advocacy, APGC has: Engaged government, regulators, and market operators to improve performance,liquidity, market transparency, and payment discipline.

    “Strengthened industry collaboration between GenCos, gas suppliers, NBET, and the Transmission Company of Nigeria.

    “Promoted discussions on tariff rationalisation, contract sanctity, and investor protection.

    “Supported capacity-building initiatives and represented GenCos’ collective interests at national and international energy dialogues,” she enumerated.

  • Nigeria, others need $450b yearly for stable energy supply

    Nigeria, others need $450b yearly for stable energy supply

    Minister of State for Petroleum Resources (Oil), Sen Heineken Lokpobiri, yesterday said a $540 billion annual investment in oil and gas recovery and associated infrastructure is required globally to guarantee stable energy supply. He based his submission on the projections of a United Nations (UN) report.

     He spoke at the opening ceremony of the 19th OTL Africa Downstream Energy Week 2025 which began in Lagos. It has as its theme: “Energy Sustainability: Growth Beyond Boundaries & Competition.”

     According to him, the recent report by the UN underscored the urgent need for renewed global investment in the oil and gas industry to meet growing global population and energy demands.

     The minister also said Nigeria’s downstream sector is gradually stabilising following the removal of fuel subsidy and the liberalisation of petroleum product pricing- a development is described as a “bold and necessary step to attract private sector investment

     “Subsidy was not sustainable. It discouraged private investment and placed a heavy financial burden on the government. What we are seeing now is a more competitive environment that encourages efficiency, accessibility and availability of petroleum products,” he explained.

    READ ALSO: Commanding from the front: Tinubu strengthening national security architecture

     Chairman of the Advisory Board of OTL Africa Downstream Energy Week, Otunba Adetunji Oyebanji, in his opening speech, explained that while the removal of fuel subsidies and market liberalisation in the downstream sector may have presented short-term difficulties, they also mark necessary steps toward building a competitive, efficient and innovation-driven sector. He noted the ongoing progress in logistics optimisation, storage efficiency and digital trading platforms as signs of renewal within the industry.

    “The downstream market is evolving amid both turbulence and transformation. Success will depend on our ability to combine innovation with policy stability and operational efficiency,” he said, even as he called for renewed collaboration, policy consistency and innovation to drive Africa’s energy sustainability and competitiveness in a rapidly changing global landscape.

    Oyebanji said the conference’s theme underscore the need for Africa and Nigeria to look beyond conventional limits and create an energy future anchored on integration, inclusiveness, and responsible growth.

    Lokpobiri therefore assured that as the world rethinks its approach to energy transition and returning focus to hydrocarbon development as a means of ensuring global energy security, the federal government, he said, is committed to deepening investment in the country’s oil and gas sector.

    “The world has come to realise that energy transition cannot happen in a vacuum. Even as we pursue cleaner sources, the global economy still runs on oil and gas. Without substantial investment in these resources, there will be no financial capacities to fund the energy mix we all desire,” Lokpobiri stated.

    He noted that while discussions around climate change and net-zero commitments remained important, the realities of global energy consumption and population growth have made it clear that hydrocarbons will continue to play a central role in the foreseeable future.

    “Africa, with its population now exceeding 1.4 billion people, cannot afford to ignore investment in oil and gas. Expanding exploration, production and refining capacity is crucial not only for self-sufficiency but also for economic stability across the continent,” he said.

    Lokpobiri commended President Bola Tinubu for taking decisive policy actions that have repositioned the downstream sector for long-term growth.

    “It takes a courageous leader to make decisions that may be unpopular today but are necessary for the country’s future stability. What we are experiencing now is the outcome of such bold leadership,” he said.

    He added that ongoing reforms in the oil and gas industry are geared toward ensuring energy security, encouraging domestic refining and fostering private sector participation across the value chain.

    The minister also called on stakeholders in the downstream sector to align with the government’s policy direction and contribute to building a more sustainable and diversified energy future.

    “We are no longer just talking about transition; we are talking about an energy mix that guarantees energy security for Africa. Every stakeholder must align with this vision to create the Africa we want,” Lokpobiri emphasised.

    Oyebanji said the OTL Africa Downstream Energy Week remains a bridge between policy and practice, bringing together regulators, operators, investors and innovators to shape the future of Africa’s downstream energy industry.

    “Energy sustainability is not merely about preserving resources; it is about ensuring that our growth today does not compromise the prosperity of tomorrow. We must build an industry that is competitive, responsible, and adaptable to a rapidly changing global environment,” he admonished.

    Oyebanji, a former Chairman of the Major Energy Marketers Association of Nigeria (MEMAN), observed that the global energy sector is undergoing major shifts, driven by geopolitical tensions, supply uncertainties and the accelerating march towards energy transition.

    He noted that conflicts in Eastern Europe and the Middle East have kept oil markets tight, while the global push toward cleaner fuels and renewables is reshaping investment priorities.

    For Africa, he further said, these trends present both challenges and opportunities, insisting that the continent, richly endowed with natural resources and human capital, must move beyond being just a supplier of raw hydrocarbons to becoming a hub for innovation, efficiency and value addition.

    “Africa must position itself not just as a source of energy, but as a source of innovation. Our growth must be sustainable, inclusive and borderless,” he said.

    Oyenabji emphasised that Nigeria remains central to Africa’s energy transformation. The deregulation of the downstream petroleum sector, renewed focus on gas commercialisation and expanding infrastructure, he said, have laid a foundation for long-term growth.

    However, he cautioned that sustained progress depends on policy stability, regulatory transparency, and institutional consistency. Investors, he noted, thrive on predictability, and long-term capital inflows which only comes with confidence in the regulatory environment.

    Oyebanji called for a new mindset where collaboration becomes the new competition, urging industry players to balance innovation with inclusiveness and competition with cooperation.

    “Our capacity to grow beyond boundaries depends not only on how hard we compete but on how well we cooperate,” he said.

    He added that the future of energy lies in integration — bridging hydrocarbons, renewables, and alternative energy sources — to create a system that promotes both growth and environmental responsibility.

    Oyebanji noted that over the past 19 years, OTL Africa Downstream Energy Week has evolved into the continent’s leading platform for policy dialogue, business networking, and innovation in the downstream value chain.

    He urged stakeholders to seize the moment to define Africa’s path toward energy sustainability through infrastructure investment, capacity building and transparent governance. “We must invest in pipelines, depots, data systems and digital tools. We must build capacity through research and innovation. Above all, we must hold ourselves accountable to the highest standards of transparency and environmental responsibility,” he said.

    The OTL Africa Downstream Energy Week, now in its 19th edition, serves as a premier platform for policy dialogue, industry networking, and investment promotion across Africa’s downstream petroleum value chain.

  • Samira Sanni drives innovation and cost efficiency in city procurement through strategic research, supplier collaboration, technology integration

    Samira Sanni drives innovation and cost efficiency in city procurement through strategic research, supplier collaboration, technology integration

    In a time when cities are under increasing pressure to deliver smarter, faster, and more transparent public services, professionals like Samira Sanni are redefining the role of procurement in government operations. Known for her strategic foresight, analytical expertise, and relentless pursuit of efficiency, Sanni has become a pivotal force in reshaping how city departments source, manage, and deploy resources. Her approach to procurement combines research-driven decision-making, supplier collaboration, and technological innovation systems that are not only cost-effective but also sustainable and future-ready.

    At the heart of Sanni’s success is her ability to research and utilize cooperative agreements, an often-overlooked tool that significantly enhances government efficiency. Cooperative agreements allow multiple government entities to leverage shared contracts for goods and services, reducing redundancy, saving time, and maximizing purchasing power. By identifying and applying these agreements strategically, Sanni has helped the city access high-quality products and services at reduced costs, while also ensuring compliance with procurement regulations. Her expertise in navigating complex cooperative frameworks reflects a deep understanding of public sector dynamics and a commitment to fiscal responsibility.

    Sanni’s approach to procurement is marked by thoroughness and foresight. She begins each sourcing initiative with rigorous research, ensuring that every decision is guided by reliable data and a clear understanding of departmental needs. Her role extends far beyond the traditional boundaries of procurement, it involves designing and managing proposals that align with both the operational goals and the broader vision of sustainable urban development. Whether it is acquiring new IT systems, upgrading municipal infrastructure, or sourcing specialized equipment for critical departments, Sanni ensures that every project is backed by a foundation of meticulous planning and sound analysis.

    A key part of her leadership lies in her collaboration with suppliers. Sanni regularly confers with vendors and manufacturers regarding products, materials, equipment, and services, building partnerships that are grounded in transparency, mutual respect, and shared value. Her communication style is professional yet personable, enabling her to foster long-term relationships that yield consistent quality and reliability. From negotiating pricing and trade terms to evaluating supplier performance, she manages each interaction with precision, ensuring that the city secures the best possible value for tax payers money.

    Technology has also played a defining role in Sanni’s procurement strategy. With a keen understanding of how digital tools can transform administrative efficiency, she has overseen the design, procurement, and installation of technology services, IT hardware, and software across city departments. By promoting the use of innovative solutions, Sanni is helping to modernize city operations, reducing manual processes, enhancing transparency, and enabling data-driven decision-making across departments.

    In managing proposal development, Sanni takes a comprehensive and methodical approach. She researches departmental requirements, reviews technical specifications, and evaluates potential supply sources to ensure that every recommendation is grounded in both quality and practicality. This end-to-end involvement from research to execution demonstrates her commitment to accountability and precision. Her ability to translate complex technical needs into actionable procurement strategies has not only improved efficiency but also strengthened collaboration between departments and vendors.

    Sanni’s work has had a tangible impact on the city’s ability to meet its goals efficiently and sustainably. By leveraging cooperative agreements and fostering competitive sourcing, she has contributed to substantial cost savings while maintaining high standards of quality and compliance. Her proactive engagement with suppliers has reduced procurement bottlenecks and ensured timely delivery of essential goods and services improving the city’s overall operational responsiveness.

    In an era where public trust hinges on how governments manage taxpayer funds, Sanni’s disciplined and transparent approach offers a model for effective governance.Colleagues and stakeholders describe her as a visionary professional, detail-oriented, results-driven, and deeply committed to excellence. His leadership style encourages teamwork, accountability, and continuous improvement. By combining analytical intelligence with a strong ethical compass, Sanni ensures that every procurement decision aligns with the city’s mission to deliver reliable, sustainable, and equitable services to its citizens.

    Through her research expertise, supplier collaboration, and innovative use of technology, Samira Sanni has transformed procurement into a tool for progress, strategic engine for city growth and sustainability. As cities continue to evolve, the demand for professionals who can merge innovation with integrity will only grow. In this landscape, Sanni stands out as a leader whose vision and dedication are helping to build a smarter, more efficient, and more accountable future for urban governance. Her achievements not only elevate procurement standards but also reaffirm the essential role of strategic thinking in driving sustainable development and public trust.

  • Schneider Electric seeks reliability in energy usage

    Schneider Electric seeks reliability in energy usage

    Schneider Electric has urged companies in Nigeria that are always under pressure to improve reliability while managing energy usage to embrace innovative products to deliver cost-effective products to customers.

    Offer Manager, Power Products at Schneider Electric West Africa, Opeyemi Olaniyan who spoke during the launch of the TeSys Deca Advanced contactor 115A and 150A for 3Pole and 200A for 4P to its channel partners in West Africa, said the new TeSys Deca Advanced was developed with the evolving needs of West African industries in mind, where uptime, resilience, and efficient deployment are critical.

    Olaniyan said: “Whether it’s mining operations in Nigeria, food and beverage manufacturing in Ghana, or water treatment facilities across the region, industrial operators are under pressure to improve reliability while managing energy usage. The TeSys Deca Advanced offers an intelligent and robust motor control solution that responds directly to those challenges.”

    Equipped with wide-band coil technology, the TeSys Deca Advanced can accommodate voltage fluctuations between 24V to 500V AC/DC, making it well-suited for environments with variable power supply. It complies with the latest IEC 60947-4-1 standard and supports motor categories AC3, AC3(e), and AC4 without requiring derating at operating voltages of 380V or 480V.

    READ ALSO: Commanding from the front: Tinubu strengthening national security architecture

    “Whether it’s mining operations in Nigeria, food and beverage manufacturing in Ghana, or water treatment facilities across the region, industrial operators are under pressure to improve reliability while managing energy usage. The TeSys Deca Advanced offers an intelligent and robust motor control solution that responds directly to those challenges,” Olaniyan said, adding that the solution supports reduced energy consumption by offering 10per cent less main power dissipation, 50per cent coil inrush saving, 20per cent reduction in width, lowers CO₂ emissions, and low operational costs, helping industries meet both performance and sustainability goals.

    The TeSys Deca Advanced is ideally suited for use in harsh and demanding applications such as mining, water and wastewater management (WWW), HVAC systems, packaging lines, hoisting equipment, and elevator systems.

    Its three-layer ergonomic design simplifies installation and maintenance by making wiring more visible and accessible, a significant benefit where technical resources may be limited.

    The contactor is designed with Everlink technology, a Schneider Electric patented power connection system designed to ensure secure, durable, and maintenance-free electrical connections, especially in demanding industrial environments. The one-click connection technology can reduce installation time by up to 75per cent and the direct PLC control capability helps streamline inventory and selection processes, reducing complexity by up to 80per cent and supporting leaner operations.

    “The TeSys Deca Advanced is a digital-ready solution that enables predictive maintenance through real-time diagnostics. This means businesses can anticipate issues before they occur, an important differentiator when avoiding unplanned downtime and increasing equipment lifespan,” Olaniyan added.

    By supporting smarter motor control and real-time insights, the solution plays an important role in helping West African industries become more connected, efficient, and sustainable.

    “Schneider Electric’s focus in the region is to support our customers with solutions that are not only robust and reliable but also aligned with global sustainability goals. The TeSys Deca Advanced is another step forward in delivering that promise,” Opeyemi added.

  • Konga Yakata gets sales date

    Konga Yakata gets sales date

    Nigeria’s e-commerce giant, Konga, has officially announced the dates for its highly anticipated Konga Yakata 2025, Nigeria’s biggest annual Black Friday sale. The month-long shopping festival will run from Saturday, November 1st to Sunday, November 30th, 2025, promising shoppers across Nigeria a more exciting, rewarding, and value-packed experience than ever before.

    To build anticipation, Early Bird Deals kicked off on October 26th and will run through October 31st, giving early shoppers a head start on some of the year’s most incredible bargains.

    This exclusive pre- sale window allows customers to secure limited-time offers before the official Yakata sale commences.

    Since its inception, Konga Yakata has redefined Black Friday shopping in Nigeria. Evolving beyond a retail event, it has become a nationwide celebration of value, convenience, and trust, firmly positioning Konga as the go-to destination for millions of Nigerians seeking genuine products at the best possible prices.

    According to the management of Konga, the 2025 edition of Yakata will surpass previous years with new innovations, expanded product categories, richer customer experiences, and unmatched discounts. This year’s event will feature engaging activities such as Treasure Hunts, Combo Day,

    Week of Wonder, Flash Sales, Live Auctions on Konga Radio 103.7FM, Giveaways, Freebies, and the same-day delivery option on KongaNow items, ensuring every shopper enjoys an unforgettable experience.

    READ ALSO: Commanding from the front: Tinubu strengthening national security architecture

    The campaign will also extend across multiple channels, online at www.konga.com and in Konga Retail Stores nationwide, offering customers flexible shopping options and exclusive in-store deals.

    A wide range of products will be available across various categories, including Laptops, Desktops and Accessories, Mobile Phones and Tablets, Home and Kitchen Appliances, Electronics, Fashion, Groceries, Baby, Kids & Toys, and Wines & Spirits. Shoppers can expect massive discounts on top brands, including HP, Samsung, Apple, Haier Thermocool, iPower, Tecno, L’Oréal, Zinox, Nexus, Infinix, Nokia, iTec, Polystar, Nivea, and Lenovo, among others.

    In line with its mission to promote financial inclusion and digital convenience, KongaPay is offering shoppers get an instant 10per cent discount when they pay with their KongaPay wallet during the Yakata sale.

    The company has also encouraged customers to download and activate their KongaPay app ahead of the sale for a seamless checkout experience, extra savings, and exclusive wallet-based deals.

    Speaking on the upcoming sale, the management reaffirmed Konga’s commitment to customer satisfaction, genuine products, and affordable pricing. “Konga Yakata is not just a sale; it’s a celebration of trust and value,” a company spokesperson noted. “Our goal is to ensure that every Nigerian, regardless of their location or budget, can experience the joy of shopping for authentic products at unbeatable prices. This year, we are going even further with more deals, more engagement, and more innovation to delight our customers.”

    Over the years, Konga Yakata has become an integral part of Nigeria’s retail calendar and is widely regarded as the benchmark for Black Friday sales in Africa. It has empowered millions of customers to access premium products, strengthening Konga’s position as a trusted household name in e-commerce.

    As the countdown begins, Nigerians are urged to stay alert, prepare their shopping lists, and keep their devices close. Shoppers are also encouraged to follow Konga’s social media channels for firsthand updates, flash alerts, and exclusive Yakata offers.

  • ‘How Cassava can cut N250b from wheat import bill’

    ‘How Cassava can cut N250b from wheat import bill’

    A coalition of cassava stakeholders say they have submitted a policy framework to the Senate Committee on Agriculture and Development to advance cassava as a strategic industrial crop projected to save Nigeria over N250 billion annually in wheat import costs.

    This is contained in a statement signed by Co-Convener, the Nigeria Cassava Industrialisation Group (NCIG), Dr Tony Bello, in Lagos.

     Bello said the coalition included the NCIG and the Industrial Cassava Stakeholders Association of Nigeria, among others.

     He said the unified National Cassava Industrialisation and Inclusion Policy (NCIIP) framework supported High-Quality Cassava Flour mandatory inclusion in composite flour production Bill, 2022 (SB 923).

    The Co-Coverner said the policy handed over to the Senate Committee brought together key public and private sector actors to advance cassava as a strategic industrial crop.

    Apart from saving the country over ₦N50 billion annually in wheat import costs, he said the policy will bring other benefits such as the creation of more than 1.2 million jobs, and stimulation of inclusive industrial growth through innovation, local value addition and regional market expansion.

    “The NCIIP proposes the establishment of the NCIC to be co-chaired by the Vice President of Nigeria and the Minister of Agriculture and Food Security. This will serve as the central platform for coordinating national action on cassava industrialisation,” he said.

    He noted that the NCIC would harmonise government efforts with those of the private-sector and development finance institutions.

    READ ALSO: Enablers of Kanu self-destructive behaviour

    Bello listed the institutions as including the Bank of Agriculture (BoA), Bank of Industry (BoI), NIRSAL PLC, the African Development Bank (AfDB), Islamic Development Bank (IsDB), and Afriexim Bank .

    He described the submission as “a national roadmap for food sovereignty and industrial resilience.”

    “Cassava represents the bridge between agriculture, manufacturing, and trade — powering new industries, jobs and markets for Nigeria and the Diaspora,” Bello said.

    According to him, the NCIIP builds on more than two decades of technical research and collaborative innovation, connecting research institutions and Original Equipment Manufacturers (OEMs).

    He added that the NCIIP also connected industrial ingredient producers, and food manufacturers across Nigeria and the global diaspora.

    “Our partnerships with OEMs and food manufacturers are accelerating technology transfer and innovation at the national level.

    “We are proving that Africa’s food systems can be modern, globally competitive and driven by local ingenuity and Diaspora investment,” he said.

    The coalition, Bello said, urged the National Assembly to adopt the NCIC framework within Senate Bill 923.

    He added that they also urged the Assembly to institutionalise inter-ministerial collaboration among the Ministries of Agriculture and Food Security, Industry, Trade and Investment, and Health and Social Welfare.

    The NCIG co-convener explained that they also seek to establish the Cassava Industrialisation and Innovation Facility (CIIF) to support research, SMEs, and market readiness.

    He noted that the coalition also emphasised the need for quality assurance, transparency, and traceability through regulatory bodies such as the Standards Organisation of Nigeria (SON), NiNAS, and NAFDAC.

    According to him, this will ensure that Nigerian cassava products meet both domestic and export standards.

  • Airtel Africa, ITU, RISA, Cisco partneron digital skills

    Airtel Africa, ITU, RISA, Cisco partneron digital skills

    Airtel Africa Foundation has partnered on a joint initiative with the International Telecommunication Union (ITU), Rwanda Information Society Authority (RISA) and Cisco on capacity and digital skills development, under the Digital Transformation Centres (DTC) Initiative.

    The partnership aims to bridge the digital divide and promote digital inclusion by providing free Internet connectivity and digital skills training to underserved communities in Rwanda, in connection with the advancement of the 2030 Agenda for Sustainable Development.

    ITU will provide digital skills training content to the DTCs under the Initiative along with other ITU regional capacity development activities. In addition, ITU will facilitate networking opportunities related to promoting digital literacy and inclusion, which will enable access to expertise and best practices.

    Speaking to the press, Mr. Sujay Chakrabarti, Airtel Rwanda Managing Director said “Today’s partnership between the Airtel Africa Foundation, ITU, RISA, and Cisco marks a significant step forward in bridging the digital divide and empowering Rwandan youth with digital skills. This partnership is a powerful example of what happens when government, private sector, and international organizations come together to empower communities”.

    The Airtel Africa Foundation, through Airtel Rwanda, will equip DTC locations with routers, Wi-Fi and data packages at no cost, ensuring the effective rollout of training and access to digital educational platforms.

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    The landmark partnership aligns with Rwanda’s ambition to become a knowledge-based economy and complements national programmes such as ‘Connect Rwanda’ that promote access to smartphones and digital services for underserved communities.

    “This partnership reflects our commitment to supporting national development goals and closing the digital divide through meaningful collaboration,” said Ms. Esi Asare Prah, Head of Programs at Airtel Africa Foundation on behalf of Dr Segun Ogunsaya, Chair of the Airtel Africa Foundation. “We are honoured to partner with ITU to bring this vision to life and contribute to Rwanda’s journey toward becoming a digitally empowered society” she added.

    “Our partnership with Airtel Africa Foundation begins in Rwanda, where we are joining forces to strengthen digital skills in underserved communities to advance connectivity. This initiative lays the groundwork for broader regional collaboration, as we aim to expand this work to other Digital Transformation Centres across Africa,’’ said Dr Emmanuel Mannaseh, Regional Director for International Telecommunication Union (ITU). Mr. Antoine Sebera, CEO of Rwanda Information Society Authority (RISA) said

    “What we are seeing here today is partnership in action. Statistics show that 900 million people in Africa remain unconnected, extra effort needs to be made to make sure that no one is left behind. This positions Rwanda a step ahead by being intentional to involve the youth. These centres are going to play a transformative role in educating the youth to leverage AI. Digital Transformation is driving the world and Africa or Rwanda can not be left behind.

  • Project empowers female entrepreneurs

    Project empowers female entrepreneurs

    Project Advance, a flagship sustainability initiative designed to uplift female entrepreneurs and build stronger, more connected communities, has stepped up its empowerment programme for female entrepreneurs through the provision of personalized support and immersive workshops.

    Powered by Celebrations, a brand rooted in helping people express their hearts through gifts and meaningful gestures, the initiative has provided women-owned small businesses with access to vital resources, expert mentorship, and real-world market opportunities.

     At the heart of Project Advance is a simple but powerful belief: when women rise, communities thrive. And with this guiding principle, Celebrations CEO, Dele Balogun, said the initiative aligned with the United Nations Sustainable Development Goal 8: Decent Work and Economic Growth.

    Balogun said since its launch, Project Advance has empowered over 50 female entrepreneurs and helped scale more than 70 small businesses.

    These efforts, the CEO said, have led to the creation of more than 100 new jobs, while participating businesses have seen an 85 per cent increase in sustainability.

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    According to Balogun, these achievements reflect the initiative’s commitment to fostering long-term success and resilience among women-led ventures.

    “Project Advance is helping women not only grow their enterprises but also share their stories: stories of strength, vision, and heart.

    “This is just the beginning. “We remain committed to creating meaningful pathways for women to thrive, express their purpose, and build legacies that touch lives across generations,” the CEO stated.

    As Project Advance continues to grow, Celebrations is redefining sustainability, putting people, purpose, and empowerment at the center of lasting impact.