BUSINESS
FG Supports Tech-enabled, Youth-driven Agribusiness Transformation
The Federal Government says it is building a solid base for a tech-enabled, youth-led agribusiness transformation to modernize agriculture and enhance Nigeria’s food security.
The Minister of Agriculture and Food Security, Sen.
Abubakar Kyari, said this at a High-Level Policy Dialogue on Youth and Women in Agribusiness on Monday in Abuja.Kyari said that the government was not only prioritising innovation in the agricultural sector but also ensuring that young people and women were at the centre of that transformation.
Kyari said the vision of the administration was to ensure smarter, younger and more inclusive agriculture in the nation.
According to him, the future of agriculture lies in precision technologies, climate-resilient farming systems, and inclusive financing models,
He said that the government had inaugurated the National Agricultural Technology and Innovation Policy (NATIP) to serve as a framework for a new wave of mechanisation, value chain development, and digital access.
The minister also announced the activation of the National Agricultural Development Fund (NADF), aimed at attracting long-term financing into the sector.
Kyari said the government would soon roll out five core policy interventions under the National Agribusiness Policy Mechanism (NAPM), including access to affordable credit, business incubation, digital platforms, shared infrastructure, and data tracking systems.
He described the move as a shift from rhetoric to delivery, urging banks, investors, and development partners to align with the government’s vision.
Quoting Dr Akinwumi Adesina, President of the African Development Bank(AfDB), Kyari said, “Africa’s next generation of millionaires will emerge from agriculture not oil or minerals, but from agribusiness powered by technology.”
Kyari assured stakeholders that the Renewed Hope Agenda of the present administration would not leave smallholders farmers behind, adding that a thriving agribusiness ecosystem must reflect the aspirations of women and youth.
“The era of hoe and cutlass is giving way to smart tractors, mobile apps, and digital marketplaces and it is Nigeria’s young people who are leading the charge,” he said.
The Director-General, Nigeria Country Department of AfDB, Abdul Kamara, reiterated the Bank’s commitment to empower Nigeria’s youth and women through targeted investments in innovation, digital technology, entrepreneurship, and access to finance.
“Nigeria’s youth and women are among the most enterprising on the continent. However, access to finance remains the most critical constraint for the development of youth and women owned enterprises in Nigeria.
According to him, a major skills gap also persists in the labour market, with many job seekers lacking the competencies required by employers.
To address these challenges, Kamara outlined several flagship initiatives the Bank was implementing in collaboration with the Federal Government to stimulate youth-led innovation and enterprise development.
He reiterated the Investment in Digital and Creative Enterprises Programme (iDICE), a 618 million dollar initiative supported by AfDB, the Islamic Development Bank, and the Agence Française de Développement (AfD).
“This 618 million dollar Programme seeks to promote entrepreneurship and innovation in digital technology and creative industries.
”It will create innovation centres in over 50 Universities and Polytechnics, focusing on technologies and innovation, notably those of the creative industry, entertainment industry and other productive sectors.
“More than 175,000 youths will be equipped with skills in digital technology and creative industries to foster innovation and support the emergence of more entrepreneurs.
“Also, the iDICE Programme will establish three types of Funds: that is Innovation Funds to support innovation and creative enterprises; Technology Fund to support enterprises in the digital technology sector, and a Fund of Funds to finance the first two funds,” he said.
Kamara also spoke on the Youth Entrepreneurship Investment Bank Fund (YEIB-Fund), a 100 million dollar initiative aimed at providing financial and non-financial support to Micro, Small and Medium Enterprises (MSMEs) owned by youth and women.
“The YEIB initiative will foster a thriving entrepreneurship ecosystem by supporting youth and women-led MSMEs as job creators, while promoting their economic empowerment,” he said.
Kamara mentioned the Ekiti Knowledge Zone Project, a 94.8 million dollar programme designed to position Nigeria as a knowledge economy hub through tech innovation and entrepreneurship.
He further referenced the Special Agro-Industrial Processing Zones (SAPZ) programme, a 618 million dollars intervention to develop agro-industrial value chains and create jobs, especially in rural communities.
“These investments will drastically change Nigeria’s agro-industrial landscape and unlock thousands of opportunities for youth and women,” Kamara said.
He called for coordinated efforts to integrate young people and women into agribusiness, especially through reforms in fiscal and monetary frameworks to improve financing.
He emphasised the need for Africa to transform into a hub of productivity powered by a skilled and empowered youth population.
“The future of Africa’s youth must lie in a prosperous Africa, not in risking their lives crossing the Mediterranean,” he said.
Kamara said the Bank’s Jobs for Youth in Africa initiative aimed at creating 25 million jobs across the continent and deepening youth access to finance through innovative financing models such as the Youth Entrepreneurship Investment Banks.
The event’s theme is “Bridging the Gap – Access to Finance & Empowering Youth and Women for Agribusiness Success”.
The event was attended by government officials, stakeholders, youth and women in business and partners among others.
The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) recorded N7.2 trillion Profit After Tax (PAT) in 2025, a 33 per cent increase from N5.4 trillion.
Group Chief Executive Officer, Bayo Ojulari, disclosed this on Tuesday in Abuja at a media briefing after the company’s AGM and second Earnings Call.
Revenue declined to N34.
5 trillion from N45.1 trillion in 2024.Ojulari attributed the 24 per cent revenue decline to lower crude oil prices and reduced product volumes following market deregulation.
He said earnings per share rose to N35.
90 from N27.07, while return on equity improved by 200 basis points to 16 per cent.The company’s declared dividend increased by 35 per cent to N5.8 trillion, while taxes, royalties and other government remittances rose 39 per cent to N22.3 trillion.
“Stronger earnings in spite of this pressure demonstrate the resilience of NNPC Limited’s operations,” Ojulari said.
He said profit grew because NNPC had improved its operations and maintained discipline across its businesses.
Ojulari said crude oil and condensate production reached a five-year peak of 1.77 million barrels per day.
He added that gas supply reached a three-year high of 7.2 billion standard cubic feet per day.
“Stronger performance gives NNPC Limited more capacity to invest, contribute to public revenue and strengthen Nigeria’s energy security,” he said.
On infrastructure, Ojulari said the mainline of the Ajaokuta-Kaduna-Kano gas pipeline had been completed.
He said work was ongoing on tie-ins to delivery points, beginning with Abuja, followed by Ajaokuta and Kaduna.
According to him, the next milestone is to commence gas flow through the pipeline to industries and power plants.
Ojulari said the company completed the Obiafu-Obrikom-Oben (OB3) gas pipeline in 2026 after several years of challenges.
On the refineries, he said prospective partners under NNPC’s technical equity partnership model had conducted a three-month onsite review.
He said more than 34 engineers participated in the review, adding that NNPC was now concluding the report.
Ojulari said the company was targeting self-sustaining and profitable refineries, with a pathway expected to be defined soon.
He reaffirmed NNPC’s target of producing two million barrels of crude oil daily by 2027 and three million barrels by 2030.
He said gas production targets were 10 billion cubic feet per day by 2027 and 12 billion by 2030.
“NNPC plans to mobilise over 60 billion dollars of investment across the energy value chain,” he added.
Ojulari said more than 1,000 newly recruited professionals joined NNPC in 2025 under its Talent to Value programme.
He said the recruits completed a one-year internship and training programme before being deployed across the company. (NAN)
The Federal Competition and Consumer Protection Commission (FCCPC) says there is a need for sustained capacity building in competition reporting and issues.
The Executive Vice Chairman of FCCPC, Tunji Bello, said this in a statement made available to the News Agency of Nigeria (NAN) in Abuja on Sunday.
Bello described competition matters as a relatively new area in the country adding that it required specialised knowledge among journalists, regulators and other stakeholders.
He said that competition law and consumer protection regulations had made stakeholders’ education a priority for the commission.
Bello said that the FCCPC recently supported the training of judges through the National Judicial Institute (NJI) to deepen understanding of competition-related matters.
He noted that members of the judiciary also required exposure to the nuances of the emerging field.
“We recognised that because it is a new terrain, the judges themselves are not familiar with the nuances.
”So we brought in experts on competition,” he said.
Bello stressed that the media had a critical role in promoting public understanding of competition and consumer protection issues.
“If FCCPC is becoming more known to the public, it is as a result of the kind of publicity you have given us,” he said. (NAN)
Fire gutted the Nigeria Customs Service (NCS) Western Marine Command office in Apapa, Lagos, on Monday, destroying property worth millions of Naira.
The fire, which reportedly started at about 10:23 a.m. from an electrical surge in the conference room, spread to other sections of the building.
Officers on duty made frantic efforts to contain the fire before officials of the Lagos State Fire and Rescue Service arrived at about 10:45 a.
m.The Deputy Comptroller of Customs, Timothy Jonah, who just resumed at the Command, to take over the affairs from his predecessor, described the incident as unfortunate.
He said: “I just resumed duty to take over, only to witness this fire outbreak.
“Every challenge, though negative, is an opportunity to strengthen our operations.
“In the meantime, we will set up a committee to investigate the cause of the fire.”
He commended the swift response of the personnel on duty and their collaboration with the fire service, saying measures would be taken to strengthen safety protocols and prevent a recurrence. (NAN)
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