The Nation Newspaper

Category: Business

  • Firm wins Dangote Cement’s largest distributor award

    Firm wins Dangote Cement’s largest distributor award

    Repton Group has emerged as the winner of the 2025 Dangote Cement Award for the Largest Distributor in Nigeria and Sub-Saharan Africa. This marked the third consecutive achievement having earlier clinched the 2023 and 2024 editions of the annual award.

    Repton Group, won the award through its cement distribution subsidiary, Kazab Heritage Limited, at the 2026 Dangote Cement Distributors’ Awards Night in Lagos

    Managing Director, Repton Group , Otunba Odeyeyiwa Olayemi expressed appreciation to Alhaji Aliko Dangote, President and Chief Executive, Dangote Industries Limited and the entire Board and Management of Dangote Cement Plc, for the award decided through an objectiveperformance-assessment process.

    Olayemi also thanked customers for making the achievement possible. As he put it in his appreciation message, “On behalf of our Board of Directors ably led by my wife, Yeye Erelu Adesola Mutiat Odeyeyiwa and me, I want to express special appreciation to you, our esteemed customers for your unwavering loyalty, consistent feedback and exceptional commitment to our brands over the years.

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    “You remain our corporate catalysts. Our emergence as the Largest Distributor of Dangote Cement in Nigeria and Sub-Saharan Africa for three consecutive years would not have been possible without your sustained and massive support.”

    He equally expressed gratitude to the entire staff for theirindefatigability, overwhelming dedication, result-driven approach and operational ingenuity, which mostly account for the latest feat and have continued to drive outstanding achievements.

    The CEO, who also thanked all associates and stakeholders, attributed the successive achievements of the Group to years of strategic corporate vision, operational innovation, resilience, robust planning and effective team work.

     Olayemi, who hinted at technological re-modelling of operations at the Group, said the Group would continue to strengthen efforts towards sustaining industry leadership and/ormaintaining competitive edge.  According to him, “Rather than resting on our laurels, we view this latest achievement as both a challenge and motivation to further strengthen our performance and continuously re-model our operational strategies. We firmly believe that complacency has no place in sustaining excellence amid intense competition.”

    In her own reaction, Yeye Erelu Odeyeyiwa Adesola Mutiat, Director of Repton Group and wife of the CEO, first attributed the success to God and expressed special appreciation to Dangote Group and all stakeholders for the award. In her words, “All glory and adoration to Almighty God…. My special appreciation goes to you all, our loyal customers, for your unwavering support over the years. I also most sincerely thank all of you, our staff in Repton Group in general, for your selfless work, dedication and support. Let’s do it again this year. To Dangote Group, we cannot thank you enough.”

  • Govt urged on farmer-focused reform

    Govt urged on farmer-focused reform

    Chief Executive Officer, Niji Foods, Mr. Kolawole Adeniji, has urged the Federal Government to urgently roll out concrete, farmer-focused reforms to boost food production, warning that without swift and decisive action, recent gains in food price stability could threaten the long-term sustainability of Nigeria’s agricultural sector.

    Adeniji made the call while reacting to the keynote delivered by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at the launch of the Nigerian Economic Summit Group (NESG) 2026 Macroeconomic Outlook Report in Lagos.

    At the event, the minister acknowledged that easing food prices, while offering relief to consumers, have in some cases fallen below farmers’ production costs, raising concerns about continued investment in food production.

     “There is a point now to help the farmers, because prices have come below, in some cases, their costs, and that is being addressed very, very urgently, in order to ensure that we encourage continued investment in food production,” Edun said.

    Responding, Adeniji said the minister’s remarks validated long-standing warnings from stakeholders in the sector, noting that farmers are under increasing pressure from rising input costs, limited access to affordable finance and weak supporting infrastructure. He stressed that agriculture requires deliberate, sector-specific solutions rather than generic economic policies.

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     “Agriculture is not like any other business you do and you cannot use a standard office system to solve its unique challenges. The government must restructure agricultural banks and develop proper loan systems for agribusiness development. We need a system where banks actually understand the farm, spending time on the ground to see what farmers suffer before they attempt to offer support. If not, we cannot move forward,” Adeniji said.

    He identified access to affordable credit as a major constraint to food production, calling for a drastic reduction in interest rates to single-digit levels.

    According to him, lending rates of up to 30 per cent make it impossible for smallholder and family farmers to invest in machinery, irrigation systems and modern technology required to raise productivity.

    He also called for a comprehensive “rejigging” of agricultural policies to make them more farmer-friendly, urging stronger government support for biotechnology, certified seeds and irrigation infrastructure.

    Adeniji described improved seed quality as a critical driver of higher yields and climate resilience.

    Beyond financing and inputs, Adeniji advocated the establishment of dedicated seaports for agricultural exports to improve efficiency across the value chain. He said such ports would enable importers and agribusinesses to fully benefit from duty-free concessions on agricultural machinery, while shielding them from congestion, delays and bureaucratic bottlenecks associated with conventional seaports.

     “We need seaports dedicated to agriculture. If importers are granted duty-free status on agricultural machinery, there must be an efficient system to support it. Today, using regular seaports exposes farmers and agribusinesses to congestion and unnecessary bureaucracy that increase costs and discourage investment. Dedicated agricultural ports will save time, reduce losses and make our exports more competitive,” he said.

    The Federal Government, meanwhile, said it is moving to support farmers following evidence that food prices have in some cases dropped below production costs, raising concerns about the sustainability of food production and future supply.

    Edun said agriculture remains central to the 2026 policy agenda, which prioritises boosting competitiveness, ensuring good governance, increasing agricultural productivity and food security, while accelerating infrastructure, energy and human capital development.

    The intervention comes as food inflation and headline inflation continue to ease after months of tight monetary policy and supply-side reforms. As of December 2025, food inflation declined sharply to 10.84 per cent year-on-year from 39.84 per cent in December 2024, driven by improved food supply, easing foreign exchange pressures and reduced import costs.

    While the moderation has brought relief to consumers, the minister warned that prices falling below farmers’ costs could discourage production if left unaddressed, potentially reversing recent gains in food availability and price stability. He said the government’s focus is to strike a balance between affordability for consumers and incentives for producers, especially smallholder farmers.

    Looking ahead, Edun said the 2026 budget, described as a budget of consolidation, renewed resilience and shared prosperity, would focus on translating macroeconomic stability into tangible improvements in living standards. Key priorities include food security, improved electricity supply, expanded mortgage access, road infrastructure and social protection for vulnerable Nigerians.

    He added that the government would continue reforms to improve revenue collection, block leakages and implement a pro-poor tax framework that exempts essential food items and small businesses while broadening the tax base. For Adeniji, however, the true test lies in how quickly policies translate into relief at the farm level. “If the government gets agriculture right,” he said, “we will get our economy right.”

  • ‘How digital innovation could redefine energy landscape’

    ‘How digital innovation could redefine energy landscape’

    The convergence of renewable energy and digital innovation can establish a Nigerian energy landscape built on reliability and long-term sustainability, an expert, Elijah Daniel, has said.

    According to him, today, just over 60 per cent of Nigerians have access to grid-connected electricity, and even those who do often endure erratic service, with the average daily supply standing at less than seven hours according to the country’s National Bureau of Statistics (NBS).

    Quoting Albert Einstein, he said: “In the middle of difficulty lies opportunity.”

    Daniel, who is Country Sales Director, Process Automation & Software, English-speaking Africa at Schneider Electric said Nigeria’s current energy network is defined by a three-pronged structure: generation, transmission, and distribution. Generation is powered predominantly by natural gas, due to the country’s vast reserves, as well as hydro and a growing, but still marginal share of renewables.

    This generated power is transmitted by a single government-owned entity (TCN), while distribution is privatised across multiple regional distribution companies (DisCos). reaching end-users across industrial, commercial, and residential sectors.

     “However, this structure is under severe strain as a result of factors such as transmission bottlenecks, aging infrastructure, demand-supply imbalance and gas supply issues.

     “Whichever way you look at it, the grid, in its current form, cannot shoulder the needs of Nigeria’s rapidly growing urban population and burgeoning industries. As the country’s population surges past 220 million, the national grid is simply stretched too thin,” he explained in an emailed note.

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    According to him, to improve energy access and reliability, Nigerian policymakers are increasingly supporting decentralised energy solutions. This includes mini-grids and embedded generation systems that serve specific localities or clusters of users.

    This decentralization, he said, aligns with Nigeria’s Energy Transition Plan (ETP), which aims to achieve net-zero emissions by 2060. A crucial part of this plan is expanding access through renewables – solar in particular – to unserved and underserved communities.

    However, scaling renewable energy also demands modernisation, coordination, and robust digital infrastructure to ensure these systems operate efficiently.

    Speaking on digital tools for the modern grid, Elijah said technologies such as IoT, advanced analytics, digital control systems, and Software as Service (SaaS) platforms are becoming essential to managing Nigeria’s evolving energy landscape.

     “Digital tools are optimised for myriad applications including substation automation management, load forecasting and energy monitoring. These systems not only optimise how electricity is distributed but also enable proactive maintenance and reduce downtime.

     “For example, in embedded generation systems, where businesses combine renewables with gas or grid input, digital control allows seamless switching between sources to prevent blackouts.

     “Furthermore, a digital layer ensures the system understands when grid supply is available and when to draw from solar or battery reserves, maintaining continuous service,” he said.

    According to him, one particularly promising model is SaaS, well-known for its ability to eliminate the need for massive upfront capital expenditure by allowing energy providers to subscribe to software platforms that help manage their operations.

     “However, for SaaS adoption to grow, local relevance is key. Here it is important that service providers offer functionality such as integrating with local payment gateways, invest in training and support ecosystems and invest training and support ecosystems.

     “Localisation of software, modular deployment, and policy alignment will therefore be essential to ensuring SaaS becomes a viable and valuable tool in Nigeria’s energy toolkit,” he said.

    He stressed the need to align policies, tariffs, and technology, arguing that technology alone cannot solve Nigeria’s energy crisis. Real progress depends on the alignment of three key pillars: government policy, electricity tariffs, and infrastructure investment.

    On policy, he said the government’s recent push for decentralisation and increased private sector participation has laid a positive foundation. Programmes under the ETP and rural electrification initiatives are steps in the right direction.

    Speaking of tariffs, he said electricity pricing is a sensitive issue. Nigeria’s tariffs remain amongst the lowest globally which means energy projects often struggle to achieve bankability.

    Infrastructure and innovation – the investment in digital tools and grid upgrades must be incentivised. Public-private partnerships, donor-backed pilot projects, and capacity-building initiatives will be crucial to scaling the technology adoption required for a modern energy system.

  • Experts predict faster economic growth, lower inflation

    Experts predict faster economic growth, lower inflation

    Nigerian economy is set to witness stronger growth this year, economists and finance experts have said.

    Experts who spoke at the roundtable organised by the Chartered Institute of Bankers of Nigeria (CIBN) in collaboration with Biodun Adedipe and Associates were unanimous on the positive outlook for the economy.

    They, however, cautioned that the policy outcomes would depend largely on disciplined execution and alignment of fiscal priorities. The theme of the hybrid roundtable was: 2026 National Economic Outlook: Implications for Businesses in Nigeria in 2026.

    Managing Partner, Biodun Adedipe and Associates Limited, Dr Biodun Adedipe said the economy would perform better in 2026.

    He said 2026 would be a stabilisation year marked by exchange rate stability, declining inflation, rising reserves and strong stock market performance.

    He said that Nigerians were already feeling reform impacts, citing reduction in prices of staple foods.

    Adedipe stressed the need for sustained policies to boost food production in order to further reduce inflation.

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    President, Nigerian Economic Society (NES), Dr Baba Musa said Nigeria’s economic fundamentals were improving, citing various macroeconomic data and reports.

    He said businesses need to invest in capacity, technology and routes to markets to take advantage of the evolving macroeconomic environment.

    He, however, noted the need for disciplined policy execution and alignment.

    He said:  “Effective monetary, fiscal and tax reforms will determine 2026 outcomes”.

    President, Chartered Institute of Bankers of Nigeria (CIBN), Prof Pius Olanrewaju, said the new tax regime, which took off on January 1 would broaden the tax base and strengthen public finances.

    According to him, the new tax regime would reduce oil dependence, while protecting small businesses and low-income earners.

    He said the forum set the tone for economic policy dialogue in 2026.

    Deputy Governor, Economic Policy Directorate, Central Bank of Nigeria (CBN), Dr Muhammad Abdullahi, said real GDP growth was projected at 4.49 per cent in 2026.

    He added that inflation was expected to moderate to 12.94 per cent, reflecting easing pressures and reform outcomes.

    Abdullahi said the outlook was supported by non-oil sector expansion, improved crude oil output, rising private investment and a more stable macroeconomic environment.

    He said Nigeria recorded a balance of payments surplus of about 3.81 billion dollars in 2025, reversing deficits from the previous two years.

    According to him, foreign exchange conditions would remain broadly stable due to foreign exchange (forex) reforms, higher oil receipts, diaspora remittances and stronger investor confidence.

    He said inflation would continue easing due to reduction in food and energy pressures and the lagged effects of monetary tightening.

    Abdullahi, who was represented by Director, Monetary Policy, Central Bank of Nigeria (CBN), Dr Victor Oboh, said the apex bank would sustain reforms to strengthen price stability and external sector resilience.

    He urged banks to expand credit to productive sectors, including manufacturing, agribusiness and small and medium enterprises.

  • Farmers to tap Europe’s mango market as capacity expands

    Farmers to tap Europe’s mango market as capacity expands

    Nigerian mango farmers are positioned to tap into Europe’s fast-growing, multi-billion-naira mango market as production capacity expands and global demand for high-quality tropical fruits surges. Industry projections suggest Nigeria’s mango output could rise to as much as one million metric tons in the coming years, consolidating its status as Africa’s third-largest producer and the world’s 11th largest, amid a steady annual growth rate of about 0.9 per cent.

    Despite the rising volume, experts warn that Nigeria continues to face a significant “valuation gap” in international markets. While exporters from countries such as Egypt and Côte d’Ivoire command premium prices in Europe, Nigerian mangoes are often sold at between $1.10 and $1.45 per kilogramme. Analysts attribute the price disparity largely to gaps in specialised export infrastructure and difficulties meeting the stringent phytosanitary standards imposed by the European Union (EU) and the United States (US).

    Europe has strengthened its role as the world’s second-largest importer of fresh mangoes, importing nearly 447,000 tons in 2024 alone. The market is currently dominated by fibre-free varieties such as Kent and Keitt, but trade analysts noted that climate-related disruptions, including El Niño-induced yield declines in South America, are opening new windows for West African suppliers. France and the United Kingdom are emerging as the most immediate entry points for Nigerian exporters. France imported about 57,000 tons of mangoes in 2024 and has shown a growing preference for West African produce due to lower shipping costs compared to Latin American suppliers. The United Kingdom, meanwhile, imported approximately 87,000 tons last year, driven in part by a large and diverse ethnic population that demands specific mango varieties.

    However, access to European markets comes with strict regulatory requirements. Exporters must comply with international standards on pesticide residues and pest management, particularly fruit flies, which remain a major threat to Nigeria’s export ambitions.

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    Executive Director  and Chief Executive Officer, National Horticultural Research Institute (NIHORT), Prof. Mohammed Atanda, said Nigeria is on the verge of a major economic breakthrough in the global mango trade if it can address technical and processing gaps. According to him, the country’s natural ecology and human capital offer a rare competitive advantage.

    “The prospect is large. One resource is natural; the other is human. The natural is that anywhere in this part of the country, anywhere in Nigeria, mango can be grown and it can be cultivated adequately without any hindrance. Mango has a special feature: it is a drought and even forest-rain compliant tree,” Atanda said.

    Beyond fruit production, he noted that mango cultivation also supports environmental sustainability. “It serves a lot of purposes, such as the fruits and even carbon footprint elimination,” he said, highlighting the crop’s role in climate mitigation.

    He further pointed to indigenous mango varieties as a largely untapped export asset. Citing the Ogbomoso variety, Atanda described it as a unique product with strong international appeal. “There is a particular mango variety we call Ogbomoso. It is only in this country you can have that type. It is very juicy, it’s not fibrous, and the brix—that is the sugar level—is adequate. It is peculiar to that Ogbomoso area,” he explained.

    Despite Nigeria’s high production ranking, post-harvest losses remain widespread, with large volumes of mangoes often left to waste along roadsides in producing states such as Edo. Atanda attributed this largely to limited energy supply and processing technology, which prevent farmers from capturing more value from the crop.

    To address this, he said NIHORT has established a pilot mango juice production plant funded by the Federal Government. The institute is also serving as a technical skills hub under a partnership involving the Federal Ministry of Education and the World Bank’s Technical and Vocational Education and Training (TVET) programme. In addition, NIHORT is supporting farmers with improved seedlings through outstations in Gombe, Kano and Ibadan, with the aim of promoting year-round production through better planning.

    “If we plan it well, we can harvest it round the year, depending on the planning and approach. I believe the prospect is so huge because whether there is water or no water, mango will still fruit,” Atanda said.

    Chief Executive Officer, Produce Export Development Alliance (PEDA), Aiyeola Adetiloye, said Nigeria’s ambition to become a dominant player in the global mango trade is being constrained primarily by compliance challenges, especially fruit fly infestation. He revealed that despite strong global demand, Nigeria currently exports less than one per cent of its mango production to high-value international markets.

    “We receive requests for weekly export shipments from international buyers. Mango is consistently one of the most sought-after products, yet despite the fact that we produce a lot of mangoes in this country, we are only able to export less than one per cent.When it comes to export by sea and by air, it is almost non-existent,” Adetiloye said.

    He noted that the global market favours Kent and Keitt varieties, which can be cultivated locally and are valued for their durability and resilience during long-distance shipping. Demand for Nigerian mangoes, both fresh and dried, has risen steadily over the past three years, but he stressed that pest control remains the defining hurdle.

    “The challenge we have is that mango export from Nigeria is going through a process of redefining. It really says that we have to be able to control our fruit fly population in order to be compliant. If not, even though the demand is rising year-on-year, we will continue to miss out,”

    Stakeholders agree that bridging the gap between harvest and export through improved pest management, infrastructure and adherence to international safety standards will determine whether Nigeria can fully capitalise on Europe’s expanding mango market and translate production strength into export earnings.

  • ‘How to ensure effective waste management in Lagos’

    ‘How to ensure effective waste management in Lagos’

    The heaps of refuse doting Lagos metropolis which has gotten to an epidemic level can be checked by the government assisting PSP Operators with infrastructure upgrade, ensuring Cost Relative Tariff ( CRT), and employing environmental officers in each ward to ensure compliance.

    President, Association of Waste Managers of Nigeria (AWAMN), Olugbenga Adebola who spoke to The Nation in his office lamented the state of Lagos metropolis currently unlike when it used to be a role model in waste management that other countries in Africa were coming to learn how  the government of the day achieved a  beautiful Lagos environment without filth  during the administration of Governors Bola Tinubu and by extension that of Babatunde Fashola.

    He said it was like the eye of government had been taken from the ball and called for urgent measures to address the digression.

    He said: “ The government must create an enabling environment by assuring the Private Sector participants of their return on investment, government must ensure that  soft loans and grants are made available for Operators because currently a compactor truck is almost N180million and just how operators can afford it. Little reason you see incessant broken down trucks on the roads. “

    “If  the government fails to assist the players in the sector to acquire needed infrastructure, equipment and training of  participants nothing will happen in terms of having a clean environment”.

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    He stressed that the issue of waste management cannot be left to market variables adding that  there must be subsides to encourage participants as the United States and other governments of the world subsidise famers and other sectors to stay afloat.

     Effective and efficient waste management predates visit to hospital and should be avoided in a megacity such as Lagos he stated.

    He maintained that if government invests in the management of the environment little will be done to keeping the population healthy.

    On the other roles that can be played by government to achieve a filth free environment.

    He canvassed the need for government to meet the PSP operators half way by encouraging single digit interest to encourage them acquire the necessary tools for effectiveness.

    Tenement payment must be assigned to Operators to ensure that residents pay for the service because those who don’t pay for refuse collection are those who drop refuse carelessly on the road medians and drains frustrating attempts to have a clean city he stated.

    Also, Adebola called on the Federal Government to assign a special status to Lagos as done in India and other countries as a result of the  migration of people to the state.

    He argued in favour of massive rehabilitation of all dump site , access roads, multiple tipping point to ensure daily carting of refuse.

    The government must also institute a process of ensuring prompt payment in the extant laws to safe guard the PSP’s while also monitoring their activities that they are fulfilling their mandates to the citizenry.

    The AWAMN president also called for a lease- to- own mechanism as was obtainable during the administration of Babatunde Fashola where PSP operators where assisted to procure trucks which are still in use today.

     According to him with out such deliberate policy there will be no end to mountains of refuse.

    He encouraged a long term plan instead of half- measures and non sustainable knee- jerk plans which he said will never achieve the desired result.

  • ‘Port charges threatening N10tr blue economy target’

    ‘Port charges threatening N10tr blue economy target’

    Unregulated port and shipping charges are adding as much as 1.2 percentage points to Nigeria’s annual inflation and could derail the Federal Government’s ambition to unlock N7 trillion to N10 trillion annually from the Marine and Blue Economy, according to a new policy memorandum by the Sea Empowerment and Research Centre (SEREC).

    In a post-protest assessment submitted by the centre’s Head of Research, Eugene Nweke, to the Minister of Marine and Blue Economy and the Nigerian Shippers’ Council (NSC), the maritime research group warned that escalating charges at the nation’s ports, particularly along the Apapa corridor, have become a macroeconomic risk, raising import costs, weakening trade competitiveness and exposing supply chains to repeated disruption.

    SEREC’s analysis shows that Apapa ports, which handle over 60 per cent of the country’s containerised imports, process an estimated 1.5 to 1.8 million TEUs annually. The report found that recent incremental shipping line and terminal charges of N150,000 to N250,000 per container translate into an additional N225 billion to N450 billion annual cost burden on the Nigerian economy.

    These costs, the group said, are ultimately transferred to manufacturers, importers, small and medium-sized enterprises (SMEs) and final consumers, amplifying inflationary pressure across key sectors.

    “Port and shipping charges now account for 30 to 40 per cent of landed import costs for some cargoes,” SEREC stated, noting that logistics-driven price increases are particularly severe for food items, pharmaceuticals and industrial inputs.

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    According to the memorandum, every 10 per cent rise in logistics costs is conservatively associated with a 1.5 to 2 per cent increase in consumer prices, making unchecked port charges a “hidden inflation tax” that undermines national anti-inflation efforts.

    SEREC warned that without regulatory consolidation, logistics-related costs alone could continue to add 0.7 to 1.2 percentage points to headline inflation annually.

    The policy document followed recent street-style protests by freight forwarding practitioners over shipping line charges, which culminated in the physical shutdown of a shipping company’s operations at Apapa and forced regulatory intervention by the NSC.

    While acknowledging the legitimacy of industry grievances, SEREC cautioned that such methods carry steep economic consequences.

    “Physical shutdowns disrupt cargo clearance cycles, conservatively costing the economy N3 billion to N5 billion per day in delayed cargo, demurrage, storage charges and lost productivity,” the group said, adding that prolonged disruptions could expose practitioners and associations to civil liability claims running into tens of billions of naira.

    Beyond protests, the group identified regulatory ambiguity—particularly the unclear distinction between tariff consultation and approval, as a structural weakness discouraging long-term investment in port services.

    The report noted that investor surveys consistently show that regulatory unpredictability increases the required return on investment by 3 to 5 per cent, raising port service costs and weakening Nigeria’s competitiveness relative to regional ports.

    It warned that sustained high costs could trigger the diversion of 10 to 15 per cent of West African transit cargo to neighbouring countries.

    If existing gaps persist, SEREC estimates that Nigeria could continue to lose N500 billion to N700 billion annually to trade inefficiencies driven by excessive charges, delays and regulatory uncertainty.

    The group also warned that reputational damage and weak governance could undermine the Marine and Blue Economy’s projected N7 trillion to N10 trillion annual contribution to GDP over the medium term.

    To reverse the trend, the research body urged the federal government to institutionalise a binding national port tariff review and approval framework, supported by mandatory cost-justification disclosures.

    The organisation estimates that such reforms could reduce unjustified charges by 10 to 20 per cent, generating N200 billion to N400 billion in annual savings for the economy.

    It also recommended the creation of a Standing Port Charges Review and Mediation Forum, with an estimated operating cost of N300 million to N500 million annually, but capable of preventing disruptions and avoiding losses of N50 billion to N100 billion each year.

    Concluding, SEREC noted that port economic regulation should be treated as a macroeconomic stabilisation tool, not merely an industry concern.

    “When regulation fails, the economy pays. When regulation is predictable, the economy gains,” the memorandum stated.

    According to the maritime think tank, strengthening port charges governance is “central to inflation control, trade competitiveness and the long-term success of Nigeria’s Marine and Blue Economy agenda.”

  • ‘How growing refining capacity may affect private depots’

    ‘How growing refining capacity may affect private depots’

    Local refining of premium motor spirit (PMS) or petrol is experiencing a boost capable knocking off importation of the product.

    Analysts believed there could be dramatic changes in the structures of the downstream petroleum sector barring any disruption to local refining operations of the product.

    Data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that out of an average 74.2 million litres of petrol supplied daily last month, imported petrol accounted for 42.2 million litres per day, while 32 million litres were supplied by local refineries, essentially due to an increased supply from the Dangote refinery. The 42.2 million litres daily import in December 2025 was a 19 per cent reduction from that of the preceding month of November which was 52.1 million litres daily.

    Although the Dangote refinery boast of the capacity to supply 50 million litres daily, the NMDPRA figures indicated that Refinery significantly bolstered depot stocks by supplying an average of 32 million litres per day in December 2025, representing a 64 per cent increase from the previous month.

    Interestingly, despite the rise of product supply from the Dangote refinery, importers brought in 1.5 billion litres of petrol in November 2025 to cover shortages in September and October 2025.

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    But the tide seems to have slowed down. So far this year, Nigeria’s imported petrol stocks in depots have seen a sharp decline as local refining capacity increases.

    The influx of locally refined products is now changing the dynamics in the sector leading to what may be termed a “price war” at private depots this year. As of early January 2026, private depots such as Eterna, Integrated and Aiteo were selling at N710 to N800 per litre.

    On the reverse, local refiners like Dangore refinery has maintained its ex gantry price at N699.

    Initially, despite lower depot prices, average retail pump prices remained higher, often between N890 to N910 per litre, however, most retailers are now being compelled by market forces to crash their price to matching that of MRS filling station- a major partner with Dangote Refinery , to sell at N739 and N770 per litre. As of early January 2026, private depots raised prices, with some selling imported petrol at around N800 per litre, while Dangote sold at lower rates.

    Beneath the pricing war is the potential danger refining locally poses for private depots. An oil and gas consultant, Mayowa Sodipo, argued that with local refining now finding its bearing in the country, private depots will be grossly affected. He explained that towards the close of last year and beginning of this year, the shift from an import-dependent model to a local supply model caused traditional, independent private depots to experience reduced throughput, shrinking margins and a loss of market share, with many facing an existential crisis as of late 2025.

    “The resurgence of local petrol refining has impacted on satellite petrol depots, fundamentally restructured their operations,’ Sodipo said.

    According to him, private depots now experience a declining throughput especially for those of such facilities located in Lagos, which he said experienced utilisation rates falling below 40 per cent in late 2024 as imports dropped.

    Besides, he noted that the involvement of the Dangote Refinery, which has shifted to selling directly to large marketers and consumers using its own fleet of 4,000 CNG trucks, bypassing traditional third-party depot intermediaries, will greatly take a toll on the depots.

    He cited reports in September 2025 which indicated that private, independent depots were being bypassed, with many marketers preferring direct, cheaper supply from the refinery. He added that the naira for crude policy for local refiners has made it possible for them to supply the market at lower prices, forcing depot owners to cut their own prices, reducing their margins and, in some cases, forcing them to sell at a loss.

    “While Dangote reduced its gantry price to N699 per litre, other marketers and independent depot owners were forced to align with higher rates or face, with some still struggling to keep up with the lower prices.

    “The era where private, independent depots held a monopoly on fuel distribution is over. Local refining has transformed these depots from essential storage and distribution hubs into, in some cases, stranded assets or underutilised facilities, as the market moves towards direct, factory-to-station delivery,” Sodipo argued.

    The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, in an interview cast doubt on petrol importation at the moment. “Well, since Dangote has reduced his price, and we have not complained of a shortage of products. So, you will find out that the supply chain is stable. So, that one, literally, has also cancelled all these accusations and counteraccusations on petrol importation. I don’t think anybody is importing within this period on that regime. Nobody is importing now. I’m sure that nobody is importing. So, all the supplies we are getting now are from Dangote. You know Dangote has also opened up the market for independent marketers,’’ he said.

    Although the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) maintains that it is not against local refining and are ready to source products locally if terms are fair, they want local refineries to provide products at competitive prices and ensure open access, similar to international market dynamics.

    Besides is the subsidy demand from local refineries they seek, especially coverage of cost on freight, NIMASA/NPA costs, to cover expenses, arguing it is necessary to compete with cheaper imported products.

    Sodipo contended that the shift to local refining threatens their import-focused depot infrastructure, especially with the Association’s members feeling their traditional role is already being diminished with local refining.

    Industrialist and business tycoon, Femi Otedola, also a former DAPPMAN member, urged depot owners to pivot from holding tanks to owning last-mile retail outlets, a strategy for the new self-sufficient era.

  • Mandilas, Yabatech partner on technical skills

    Mandilas, Yabatech partner on technical skills

    By Olamide Akintunde

    Mandilas Group has entered into partnership with the Yaba College of Technology (Yabatech) as part of efforts to equip Nigerian graduates with employable skills and boost economic growth.

    The partnership is being implemented through the John Basil Mandilas Foundation, the corporate social responsibility and philanthropic arm of Mandilas under the stewardship of the Mandilas Trust Company Ltd.

    The foundation was established to advance the group’s commitment to sustainable social impact particularly in education while reflecting its values, legacy, and long-term nation building objectives.

    Under the arrangement, 75 students will be trained in phases, beginning with a cohort of 25 students already selected through an interview process. Participants will undergo one month of intensive classroom training at Yabatech, followed by two months of industry attachment, allowing them to apply technical knowledge in real work environments.

    The first phase of the programme will train students in heating, ventilation, and air conditioning (HVAC), an area of rising demand across Nigeria’s construction, manufacturing, and energy sectors.

    Beyond technical instruction, the Mandilas Academy is structured to expose trainees to industry standards, modern tools, and current technologies, particularly within the HVAC space. The programme also integrates themes such as energy efficiency, sustainable cooling solutions, and environmentally responsible practices, reflecting global shifts toward greener engineering and infrastructure systems.

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    Speaking at the signing of the Memorandum of Understanding (MoU) in Lagos, Vice Chairman, Mandilas Group and Executive Vice Chairman, Mandilas Trust Company Limited, Mrs Ola Ayo-Adeloye said the partnership between the John Basil Mandilas Foundation and Yabatech was founded on a shared belief that education, when aligned with practical application, becomes one of the most powerful drivers of national development.

    She explained that the MoU would be delivered through the Mandilas Academy, a no-cost technical training initiative designed to strengthen the bridge between academic learning and real-world industry practice, under the stewardship of Mandilas Trust Company Limited.

    She noted that Mandilas Trust Company Limited, as the holding company of the Mandilas Group, carries a heritage of over 70 years in engineering services and HVAC-R solutions across Nigeria.

    She said: “This partnership reflects our conviction that sustainable progress is achieved when industry works hand-in-hand with academia to develop future-ready talent. The Mandilas Academy is designed to complement the strong academic foundation for which Yabatech is widely respected. It will provide students with hands-on training, industry-aligned certifications, and exposure to modern HVAC-R technologies, ensuring graduates are not only well-educated, but confident, competent, and workplace-ready.

    “Beyond technical skills, the Academy will encourage innovation in energy efficiency, sustainable cooling, and environmentally responsible practices—areas of growing importance both globally and within Nigeria. This MOU also demonstrates the power of collaboration. For students, it creates pathways to practical experience, mentorship, and career opportunities. For the institution, it strengthens curriculum relevance and industry engagement. And for society, it contributes to a skilled workforce capable of driving industrial growth, economic resilience, and environmental sustainability”.

    She said that the Group plans to make the Mandilas Academy into a centre of excellence for HVAC-R training in West Africa, supporting research, innovation, and global partnerships, while producing graduates who set new standards of technical competence and professionalism.

    “As we take this important step forward, we do so in the spirit of John Basil Mandilas, whose pioneering vision, integrity, and commitment to progress laid the foundation for all that we represent today. Through this Academy, we honour his legacy by investing in knowledge, opportunity, and future generations,” Ayo-Adeloye said.

    Rector, Yaba College of Technology, Dr. Ibraheem Abdul, said the partnership aligned with Yabatech’s broader strategy of strengthening graduate employability by embedding practical skills into academic pathways.

    According to him, with over 36,000 students enrolled across about 90 programmes, the institution has increasingly leaned on industry partnerships to ensure its graduates are equipped for evolving workplace expectations.

    He noted that the labour market now rewards ability over credentials, thus the institution’s emphasis on field readiness rather than paper qualifications

    He said: “In today’s market, it is not about the certificates you carry, but about what you can do”.

    Director, Centre for Linkages and Partnership, Yaba College of Technology (Yabatech), Taiwo Ajala said Yabatech plans to support the Mandilas Academy by aligning its curriculum with the National Board for Technical Education (NBTE) requirements and Nigeria’s National Skills Qualification Framework (NSQF).

    According to him, this would allow participants to earn certifications that assess what they can do, rather than simply what they have studied.

    He noted that such certifications and education are increasingly valued by employers both locally and internationally, particularly in technical and vocational fields where performance and safety standards are critical.

    “What the market now demands are competencies that can be tested and verified. Even a narrowly defined technical skill, if properly assessed, can significantly improve a graduate’s chances in the job market,” Ajala said.

    He explained that under the MoU, Yabatech would support the initiative through student selection, access to academic facilities, and curriculum alignment, while Mandilas would design and deliver the specialised training programme, provide industry-standard instruction, offer stipends, and create internship and employment opportunities for outstanding students.

    He outlined that the programme would run in structured phases of classroom and virtual learning, industry internships, and final assessments, culminating in the award of the Mandilas Certificate of Completion.

    He added that exceptional students who excel in the programme would benefit from extended internships and potential employment with Mandilas.

    He said: “This collaboration aligns with Yabatech’s ERECT Agenda, which focuses on empowerment, repackaging, exploration, consolidation, and tapping into grants and endowments to strengthen the institution. By partnering with Mandilas, we are expanding opportunities for our students to gain real-world expertise while contributing to industry-academia collaboration for sustainable development”.

    Welcoming the collaboration, Registrar, Yaba College of Technology, Henrietta Badejo, described the partnership as a mutually beneficial model that supports both student development and industry needs.

    She said the institution was committed to supporting partners with curriculum development and technical expertise.

  • Agbeyewa acquires Matna Foods Company

    Agbeyewa acquires Matna Foods Company

    Agbeyewa Industries Limited, a subsidiary of Cavista Holdings, has acquired Matna Foods Company Limited, one of the oldest cassava starch processing companies in Nigeria.

    Chairman, Agbeyewa and Cavista Holdings, Niyi Olajide described the acquisition as a strategic investment in Nigeria’s economic future.

    He said the acquisition marked a significant strategic milestone for Agbeyewa as part of its broader vision to integrate agricultural production, processing, and industrial utilisation within Nigeria’s cassava value chain, linking large-scale cassava cultivation in Ekiti State with industrial processing capacity in Ondo State.

    According to him, the regional synergy from the business combination is expected to unlock new efficiencies, expand local sourcing, and stimulate economic activity for all players in the cassava value chain.

    He said: “This is about building a resilient agricultural value chain that creates real impact. From increased cassava offtake to expanded processing and industrial supply, this acquisition supports food security, import substitution, and—most importantly—creates jobs, jobs, and more jobs for Nigerians.  We are investing to grow capacity, expand opportunities for farmers, and create sustainable employment across communities”.

    He added that the acquisition also aligned strongly with the federal government’s drive to strengthen food security, reduce imports, and deepen agro-industrial value chains, particularly within the cassava ecosystem, one of Nigeria’s most strategic crops.

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    Founder of Matna Foods Company, Chief Joseph Sanusi, said the acquisition was expected to boost demand for cassava from local farmers, particularly smallholder and out-grower farmers, by expanding processing capacity and guaranteeing more consistent offtake.

    He noted that such improvement would improve farmer incomes, reduce post-harvest losses, and strengthen rural livelihoods.

    “For some time, we have been deliberate about finding the right partners to take Matna Foods to its next phase of growth. We were not looking for just a buyer, but a partner with the scale, discipline, and long-term vision to grow the business sustainably. Agbeyewa stood out because of its commitment to agriculture, its strong execution capacity, and its alignment with the original vision behind Matna. We are confident that this acquisition positions the company for renewed growth and greater impact,” Sanusi, a former Central Bank Governor said.

    He added that as part of the transition, Matna Foods remains fully operational and open for business, with plans underway to scale operations, modernize processes where required, and deepen engagement with farmers, suppliers, and corporate customers.

    Agbeyewa, located in Ekiti State, has rapidly grown into a transformational agriculture business, and operates the largest cassava farm in Nigeria. Guided by its four pillars of large-scale cultivation, aggregation, processing and agro-allied investment, the company has implemented an innovative in-grower-out-grower model and forged high-impact partnerships, including a Memorandum of Understanding with the Government of Ekiti State to cultivate 100,000 hectares of farmland over the next decade.

    Matna Foods, incorporated in 1998 and operational since 2002, has been at the forefront of cassava processing in Nigeria for more than two decades. Located in Akure, Ondo State, the company is recognized for producing international-standard multi-use and food-grade cassava starch that meets rigorous regulatory and industrial specifications, earning a reputation for quality, resilience, and technical expertise.