BUA Foods Plc reported a 24 per cent year-on-year revenue growth to ₦442.1bn in Q1 2025, but its Sugar division—traditionally its largest revenue contributor—saw its share fall to 48 per cent, down from 67 per cent in the same period last year. The decline was driven by a significant drop […]
Category: Agro Business
Agro Business
Nestlé Launches Dairy Demonstration Farm ….Invests Over ₦1.8bn in Dairy Development
Nestlé Nigeria has launched a dairy demonstration farm in Paikon Kore, Federal Capital Territory, as part of its commitment to strengthening the local dairy industry. The company noted that the initiative, under the Nestlé Nigeria Livestock Development Project (NLDP), aims to enhance milk production and improve pastoralists’ livelihoods […]
Manufacturers Warn 15% Port Tariff Increase Will Fuel Inflation, Smuggling
The Manufacturers Association of Nigeria (MAN) has strongly opposed the proposed 15 per cent increase in port-related charges, warning that the decision will drive up production costs, fuel inflation, and encourage smuggling. The association stressed that the hike is ill-timed, given the economic challenges businesses are currently facing. MAN’s […]
Sales From Sugar Accounts For 48% Of BUA Foods Revenue As Food Inflation Soars
The Sugar division contributed 48 per cent to BUA Foods’s revenue in full year 2024 according to the company’s earnings release. Nigeria’s food inflation rate hit 39.84 per cent in December 2024, a 5.91 per cent increase from the 39.93 per cent recorded in December 2023, […]
Lagos State Govt., LCFE Unveil Investment Opportunities In Energy Sector
The Lagos State Government, in collaboration with Lagos Commodities and Futures Exchange (LCFE), has unveiled vast investment opportunities in electricity in the State at the weekend. Following the enactment of Lagos State Electricity Law 2024, which empowers the state government to generate its electricity , key stakeholders, highlighted potentials for […]
Innovation Key to Commodities Development in Nigeria, says SEC DG
The Securities and Exchange Commission has said it is committed to promoting innovation, and fostering collaboration to position commodities exchanges as vital drivers of economic growth, job creation, poverty alleviation and engines of national development. The Director General of the SEC, Dr. Emomotimi Agama, who stated this while speaking […]
FMN To Buy Out Minority Shareholders After Regulatory Approval
Flour Mills of Nigeria Plc (FMN), one of Nigeria’s largest food and agro-allied companies, has announced plans to acquire all shares held by its minority shareholders following the receipt of necessary regulatory approvals. In a statement issued to the Nigerian Exchange Limited (NGX), the company disclosed that its majority […]
Stockbrokers Laud Ellah Lakes’ Investment In Palm Plantation, Livestock
Stockbrokers have commended the management of Ellah Lakes Plc for its investment in palm plantation and livestock, following a recent visit to the company’s facilities in Iguelaba Community, Edo State. A delegation of stockbrokers, led by the Managing Director, Atlas Portfolio, Muyiwa Adeyemi, visited Ellah Lakes Plc’s plantation in […]
LCFE, Commodities Brokers Applaud FG, CBN On Food Importation Directive
Lagos Commodities and Futures Exchange (LCFE) and top commodities brokers have commended the Federal Government and Central Bank of Nigeria (CBN), for the recent directive, mandating companies to channel the importation of basic food items through commodities exchanges. The new directive, which is expected to enhance price discovery, reduce […]
Poultry farmers attributes feed costs for steep egg price increase
The Poultry Association of Nigeria (PAN) has attributed the continuous rise in egg prices to low production and high feed costs. PAN Lagos State Chairman, Mr. Mojeed Iyiola, along with other industry stakeholders, discussed this issue in separate interviews in Lagos. According to them, the price of eggs has skyrocketed, […]