The LASCAFAN Chairman, Mr Olatoye Fajimi, made the call in an interview with our correspondent on Friday in Lagos.

Fajimi noted that for local farmers to increase the profitability of their trade they must devise innovative strategies to add value to their produce.

“In the area of value addition, we are already encouraging our members to be innovative in value addition in order to earn more.

“We have also trained our members and we are encouraging our processors to develop various kinds of fish products, like catfish powder, catfish kilishi, catfish fillets, and all the other derivatives, catfish oil.

“We cannot just depend on the regular ‘point and kill’ to break even in the sector.

“With the development of various derivatives from catfish and its offal, we will be able to add value to the produce, which will allow us to sell in other varieties and increase our profit margin,” Fajimi said.

The LASCAFAN chairman called for the resuscitation of frozen catfish sales with the aid of their blast freezers.

“We tried frozen catfish as an association some years back but it did not really work out due to low patronage of the frozen catfish.

“The patronage was quite low because our people are more used to the fresh catfish than the frozen ones. So, the cold-chain for catfish was not profitable to us.

“We still have the blast freezers, but they are currently not in operation because of the failed attempt, so we could not break even, that is why we had to stop it.

“But we are hoping that when that Lagos State buy-back arrangement comes up because they intend to also blast freeze the catfish produce they offtake from catfish farmers and hold them for a while,” he said.

He expressed optimism that the resuscitation of the blast freeze business would help to increase the profit margins of the fish farmers.

“In operation, we will have more frozen catfish in circulation and hope by that time, our frozen catfish business will also begin to thrive,” the LASCAFAN chairman said.

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Dr Suleiman Chiroma, the PCN National Head of Enforcement, disclosed this while addressing newsmen on Friday in Kaduna.

Chiroma said the operation which began on Monday, covered Kaduna North, Kaduna South, Zaria, Makarfi, Kudan, Igabi, Chikun, Sabon Gari, Giwa, and Ikara local government areas.

He said 828 premises were visited during the four-day exercise, including pharmacies, patent medicine stores, and unlicensed outlets.

Chiroma explained that the 598 premises which were sealed, comprised pharmacies, patent medicine stores, and all unlicensed premises identified.

He equally said that two vendors were arrested for gross violations of the PCN Act.

He, however, said that only nine per cent of inspected premises were operating unlawfully, indicating improved regulatory compliance.

He added that 28 per cent of the premises were fully compliant, while 45 per cent of pharmacies and 28 per cent of patent medicine shops meet required standards.

“The premises sealed were for offences including lack of valid licences, unauthorised clinical practices, improper stocking of medicines, illegal operations, restricted drug access breaches, and obstruction of inspectors,” Chiroma said.

Speaking further, he explained that the operation targeted unsafe medicine handling and illegal practices threatening drug quality, potency, and therapeutic effectiveness across the supply chain.

He added that the exercise forms part of efforts to eliminate substandard and falsified medicines while safeguarding public health and safety.

He explained that the council, established by the Pharmacy Council of Nigeria Act No. 31 of 2022, regulates pharmacy education, training, and practice, including technicians and patent medicine vendors.

Ciroma said the council is mandated to enforce the National Drug Distribution Guidelines to ensure medicines move only through approved channels from production or importation to end users.

He added that the framework guarantees proper storage and handling, safeguarding the quality, potency, and therapeutic efficacy of medicines throughout the supply chain.

He noted that enforcement efforts are reducing unqualified handlers and poor storage conditions, strengthening the fight against fake and substandard medicines.

According to him, the initiative aligned with President Bola Tinubu’s universal health coverage agenda under the Renewed Hope Agenda.

He equally said that the reforms were driven by Minister of Health, Muhammad Pate, with support from PCN Registrar, Ibrahim Babashehu Ahmed.

Chiroma said access to safe and quality medicines remains central to healthcare delivery.

He, however, lamented that inspectors uncovered substantial non-compliance, including vendors dispensing prescription-only and controlled medicines beyond their authorised scope.

He warned that such practices pose serious risks to public health and safety if not addressed.

He assured that the council will sustain strict oversight to ensure only qualified personnel handle medicines and that safe, effective drugs reach the public.

He called on residents to patronise only licensed premises displaying valid approvals, and appreciated Kaduna residents for their cooperation during the exercise.

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Alhaji Aliko Dangote made this known during an event organised by the Atlantic Council in Washington DC, on Thursday.

He said that the share sale would support long-term investments and deepen African capital market participation.

According to him, Dangote Petroleum Refinery and Petrochemicals FZE will pay dividends to shareholders in dollars after listing, although specific financial details of the planned offering were not disclosed.

Dangote said that the company has appointed Stanbic IBTC Capital Ltd., Vetiva Advisory Services Ltd. and FirstCap Ltd. as advisers for the proposed IPO.

He said that the share sale aligns with his broader strategy to invest about 40 billion dollars over five years to scale operations across refining, fertiliser production and mining ventures in Africa.

Dangote said that the expansion plan includes quadrupling fertiliser output, increasing refinery capacity significantly, and establishing potash and phosphate plants in the Democratic Republic of Congo alongside copper refining projects in Zambia.

He said that 650,000 barrels-per-day refinery, Africa’s largest refinery recently reached full operational capacity, coinciding with supply disruptions linked to tensions in the Middle East, which boosted demand for its petroleum products globally.

Dangote said that the facility has also emerged as a strategic supplier of jet fuel to Europe, reinforcing its growing relevance in international energy markets and enhancing Nigeria’s position in global refining and export chains.

Also speaking, the senior vice president of refining, chemicals and oil markets at consultancy Wood Mackenzie, Alan Gelder, said that the refinery was highly profitable.

He said that the rising export volumes and strong demand fundamentals across multiple product segments.

Gelder said that data indicated that diesel exports rose to about 79,500 barrels per day in April from 73,600 in March, while gasoline shipments declined to 50,100 barrels per day from nearly 102,400 previously.

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The company disclosed this in a corporate filing to the Nigerian Exchange Limited (NGX) on Thursday.

MTN said the suspension was necessitated by the FCCPC’s Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which established a new compliance and licensing framework for providers of digital credit services.

In the disclosure signed by its Company Secretary, Uto Ukpanah, the telecom operator explained that Xtratime enabled eligible prepaid subscribers to borrow airtime or data and repay on their next recharge.

“MTN Nigeria Communications Plc hereby notifies the Nigerian Exchange Limited and the investing public that the Company has temporarily suspended its airtime and data credit advance service (‘Xtratime’).

“This relates to the implementation of processes under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025.

”The implementation introduced a new compliance and licensing framework for entities providing digital or non-traditional consumer credit services,” the company said.

The firm assured customers that other digital channels for purchasing airtime and data would remain available during the suspension.

MTN also noted that the temporary halt was not expected to significantly impact its earnings.

“Given the scale within the revenue mix, we do not expect the temporary suspension to have a material impact,” it stated.

The company added that it would continue to monitor customer behaviour and provide updates on any measurable impact in its first quarter 2026 results.

NAN reports that the FCCPC regulation builds on earlier guidelines issued in 2022 to strengthen oversight of digital lending in Nigeria.

Under the new framework, all digital lenders, including telecom operators offering airtime or data credit services, are required to register with the commission.

The FCCPC had earlier set Oct. 31, 2025, as the deadline for registration, with a penalty of N100 million for non-compliance before extending it to Jan. 5, 2026, and subsequently to April 2026 to allow full compliance.

The Commission’s Chief Executive Officer, Tunji Bello, had said operators that failed to regularise their status within the stipulated period could face further regulatory actions.

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Chibuikem Uloka, the Public Relations Officer of United Nigeria, who disclosed this in a statement on Thursday, said that it was the sixth bird strike involving the company carriers in 2026.

Uloka said the incident occurred on landing at Nnamdi Azikiwe International Airport, Abuja, from Port Harcourt International Airport operating Flight UN0515 on April 15.

He said the nose section of the aircraft was affected.

“We regret to inform our valued passengers and the general public of yet another bird strike aircraft involving one of our Airbus A320-200,” he said.

The company said it had immediately withdrawn the aircraft from operations to undergo thorough technical inspections and any required maintenance before returning to service.

It said this was in line with its strict and uncompromising safety standards.

”This marks the sixth bird strike involving our aircraft so far in 2026, an occurrence we find deeply concerning and unacceptable due to its implications for aviation safety and operational stability.

“This brings the total number of grounded aircraft to two in less than 24 hours.

“As a result, some flights across our network may experience disruptions or may not operate as scheduled,” it said.

United Nigeria regretted any inconvenience the decision may cause urging passengers understanding as safety remained top priority.

The company said it was working diligently to minimise disruptions and provision of support to all affected travelers.

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Mrs Juliet Anammah, Chairman of Board, Nigerian Breweries Plc, made this known on Thursday in Lagos via the company’s 2025 annual reports and accounts.

She noted that while macroeconomic reforms and stabilisation measures improved key indicators in 2025, translating these gains into better household incomes and living standards remained a major challenge.

She added that cost pressures, cautious consumer spending and intense competition led to a single-digit volume decline across the sector, with performance in the second half of the year weaker than the first.

Nevertheless, Anammah stated that the sector recorded a strong rebound in financial performance driven mainly by pricing actions and consumer activations.

“After consecutive years of net losses, the published results of all players showed that 2025 marked a return to profitability for the sector and our company was a big example of this sectoral rebound.

“We sustained our market leadership position driven by increased competitiveness through appropriate pricing, our premium portfolio play, enhanced route to market and sustained relationship with trade partners,” she said.

For 2026, the Nigerian Breweries board chair said that initial projections showed the year would deliver macroeconomic stability and growth following government reforms.

She, however, warned that recent geopolitical tensions in the Middle East had disrupted the outlook, pushing crude oil prices above 100 dollars per barrel and increasing energy costs in Nigeria.

She said the development could heighten foreign exchange risks, trigger supply chain disruptions and sustain inflationary pressures.

Anammah referenced projections by the Central Bank of Nigeria, which forecast a 4.49 per cent Gross Domestic Product (GDP) growth and average inflation of 12.94 per cent for 2026 under baseline assumptions.

She added that risks such as infrastructure gaps, insecurity, adverse weather conditions and lower oil output could further constrain performance.

She also expressed concern over a proposed tax stamp regime for excise verification and product tracking.

According to her, the sector has maintained compliance with existing excise regulations, warning that additional taxes or complex systems could weaken productivity and reverse recent gains.

“The industry is still recovering from volume declines recorded in recent years, and additional regulatory burdens may undermine this recovery,” she said.

Anammah revealed that Nigerian Breweries would also mark its 80th anniversary of operations in Nigeria in 2026, celebrating decades of contributions to shareholders, government and communities.

“Nigerian Breweries Plc is proud to be one of a select group of companies that has not only withstood the ups and downs of an ever changing and challenging business environment but has remained one of Nigeria’s topmost companies over the last eight decades,” she said.

Managing Director of the company, Mr Thibaut Boidin, during the company’s 2026 Pre-Annual General Meeting, noted that the brewing industry continued to face significant headwinds, particularly from declining consumer purchasing power driven by persistent inflationary pressures.

According to him, both official and perceived inflation levels have constrained consumer spending, contributing to a decline in the overall beer market in recent years.

He added that external shocks, including tensions in the Middle East, had further impacted Nigeria’s economy, exacerbating existing challenges.

On policy engagement, Boidin said the company was working closely with stakeholders, including the Manufacturers Association of Nigeria and industry groups, to shape fiscal policies affecting the sector.

He commended the Federal Government for ongoing dialogue with industry players, particularly on excise duties, noting that the introduction of a three-year excise framework provided greater clarity for businesses.

He also stressed the importance of a stable and predictable fiscal environment in enabling long-term planning and investment decisions.

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The body said in a notice signed by its President, Dr Abdulmunaf Yunusa Sarina, on Wednesday in Lagos.

Sarina said the price of Jet A1 had increased to N3,300 per litre from about N900 per litre in February, representing a 300 per cent rise.

According to him, the increase, driven by marketers, has significantly raised airlines’ operational costs.

He noted that the rise was not in line with global crude oil price trends, which reflect about a 30 per cent increase.

Sarina said airlines had, in the past four weeks, continued operations despite the rising costs out of a sense of responsibility to the nation.

He, however, said the situation had become unsustainable.

“Currently, airline revenues are insufficient to cover the cost of fuel alone, which is only one of many operational expenses incurred daily.

“The actions of fuel marketers are putting the aviation industry and the nation’s economy, safety and security at risk, as airlines are being forced to consider suspending operations.

“For the avoidance of doubt, this increase has already affected one airline, forcing it to suspend operations since March 13,” he said.

Sarina said the situation could worsen if urgent action was not taken.

According to him, adjusting ticket prices to reflect current fuel costs could lead to reduced passenger traffic, while a shutdown of operations would affect jobs, financial institutions and national security.

“We urge marketers to adjust jet fuel prices in line with international market realities, as airlines can no longer sustain purchases at the current rates,” he said.

The notice was addressed to the Major Energies Marketers Association of Nigeria, with copies sent to President Bola Tinubu, the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, and the Nigeria Civil Aviation Authority, among others.

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The Lagos State RIFAN Chairman, Mr Raphael Hunsa, made the call in an interview with our correspondent on Wednesday in Lagos.

Hunsa noted that rice farmers as well as other crop farmers have started preparing the lands for cultivation but the availability of irrigation systems would be an added advantage to productivity.

“This is the right time to start preparation for farming but most locals don’t have irrigation, we don’t have a water system.

“So, we are waiting for the rain to be established before we can go into it fully. But we are gearing up for the rain to fall. When the rain gets fully established, then we can start planting.

“The challenge we are facing as rice farmers is just water issue. We lack good irrigation systems, we need irrigation to boost rice and other crop production.

“And if the irrigation system cannot be done or afforded, then we can go for the cheaper options of borehole and water pump.

“That will be a sustainable option too because most farmers may not be able to afford its good irrigation systems,” Hunsa said.

He said most farmers cannot afford irrigation systems.

“If the government can assist us on water pump machines, we too can even do boreholes on our farms.

“However, because the rains have been irregular, we can only prepare ahead and wait for the rains to start fully.

“Aside the challenges of irrigation we face, we have shortage of farm input supply. We need adequate agrochemicals, fertilisers, and farm machinery to boost productivity.

“We even have problems, just to get tractors to work out lands before cultivation. These factors and others are problems we encounter in rice and other crop cultivation.

“We are in need of chemicals and herbicides to apply on our farms to kill the weeds and prevent cattle from penetrating our farms. We also need rice paddy, viable ones to plant.

“If all these challenges are addressed, including the provision of affordable fertilisers, then production will increase,” the RIFAN chairman said.

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This is contained in a statement by the company on Tuesday in Lagos.

Our correspondent reports that the current market capitalisation of the Nigerian Exchange Ltd. stands at N131.608 trillion.

The company’s market capitalisation stood at about N1.01 trillion as of April 10, while its enterprise value rose to approximately N1.05 trillion.

This indicates a significant re-rating driven by improved business fundamentals.

Data from the exchange showed that Guinness Nigeria’s share price closed at N462.90 on April 12, extending an 18-month rally that had boosted shareholder value and reinforced confidence in its strategic direction.

The firm’s audited financial results for the 18-month period ended Dec. 31, 2025, underscored its improved performance, with revenue of N730.80 billion.

Gross profit grew by 152 per cent to N230.5 billion, reflecting stronger margins and operational efficiency.

The company also returned to profitability, posting a net profit after tax of N41.16 billion, compared to a loss recorded in the previous period.

The results followed a transition to a new financial year-end of Dec. 31 and marked the first full audited reporting cycle under its current ownership structure.

Commenting on the development, Chairman of the Board, Prof Fabian Ajogwu, described the milestone as a validation of the company’s strategic direction.

“This is a defining moment for Guinness Nigeria. Crossing the N1 trillion market capitalisation thresholds reflects the resilience of our business, strength of our brands, and renewed investor confidence in our long-term prospects,” he said.

Ajogwu reaffirmed the company’s commitment to corporate governance, sustainable growth and long-term value creation.

He said over the period, the company had driven performance through revenue growth, portfolio optimisation, cost discipline, and expanded route-to-market capabilities.

“These efforts have been complemented by a sharpened focus on innovation, premiumisation, and consumer-centric strategies, reinforcing our leadership in Nigeria’s beverage alcohol sector.

“Guinness Nigeria has also continued to strengthen its balance sheet, embed sustainability into its operations, and uphold strong corporate governance standards.

“We are also maintaining our commitment to responsible consumption and positive community impact.

“Looking ahead, we remain focused on accelerating growth through consumer obsession, portfolio expansion, and continued innovation, while maintaining a disciplined approach to capital allocation and shareholder returns,” he said.

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The Minister of State for Industry, Sen. John Owan-Enoh, disclosed this during a one-day working visit to the Sunti Golden Sugar Estate in Mokwa Local Government Area of Niger on Monday.

Owan-Enoh explained that the target would be achieved through the Backward Integration Policy (BIP) of President Bola Ahmed Tinubu’s administration.

According to him, other incentives for manufacturers are expected to scale up Nigeria’s local sugar production.

The minister said the expansion “is aimed at” meeting the sugar demand of Nigerians.

Owan-Enoh stated that the federal government “is encouraging local production by offering incentives such as duty-free importation of machinery and equipment for production companies.”

He noted that while the BIP had begun to yield results, it had not yet fully met expectations.

“I think that in this facility, like the other two that I have visited already, this is what a combination of government policy and private sector engagement can give you.

“It is a reflection of the implementation of the government’s backward integration programme.

“It also demonstrates that there is a business going on; there is an industry with all the elements that you can think about.

“People are gainfully employed. At its peak, I understand this facility has about 4,500 workers. So, government’s requirement for gainful employment is itself achieved here,” Owan-Enoh said.

The minister expressed satisfaction with the production process and the capacity of local industries to deliver results, while acknowledging some gaps still remain.

“I have never stopped getting amazed at what production can be. From the farm, you get to the factory and find sugar produced.

“This itself begins to demonstrate the ability of the country, of these business people, and of the industry to achieve that,” he said.

He, however, stressed that production levels remained below expectations despite progress, while highlighting the sector’s ambition to significantly increase output by 2030.

“While we can praise this to be an implementation of the BIP, it still falls quite short in terms of what expectations are of that policy.

“But I am glad that there is an ambition that by 2030 the output is going to increase to 300,000 metric tonnes,” the minister revealed.

Owan-Enoh identified limited land under sugar cane cultivation as the sector’s biggest challenge, noting that expansion in cultivated land is key to achieving self-sufficiency.

He reaffirmed government’s commitment to industrialisation and continued support for industrialists, including fiscal incentives and funding efforts.

“We are not there yet, but there is commitment; there is push, and the government itself is serious about industrialisation,” he noted.

The Group Chief Executive Officer of Sunti Golden Sugar Estate, Mr Boye Olusanya, disclosed that the company currently cultivates about 6,600 hectares, producing about 20,000 tonnes of sugar, with plans to scale up.

He, therefore, called for policy consistency and better access to funding to actualise the dream.

“Today, we have under cultivation 6,600 hectares and we are producing just under 20,000 tonnes of sugar.

“Our intent is to get to 290,000 tonnes by the end of 2031,” he said.

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