Business
Investors Applaud Plateau Government’s Agricultural Drive at Horticultural Festival
Investors and stakeholders in the agricultural sector have commended the Plateau State Government under Governor Caleb Manasseh Mutfwang for its deliberate efforts to transform agriculture and boost food security.
The commendation came during the 2026 Horticultural Festival held in Jos, organised in collaboration with the Kingdom of the Netherlands, the Federal Ministry of Agriculture and Food Security, and other development partners. The event took place at the Crispan Suites and Event Center and attracted both local and international investors.
Leading the delegation of foreign investors, the Ambassador of the Netherlands to Nigeria, Bengt van Loosdrecht, praised the state government’s commitment to agricultural development, particularly in horticulture and potato production.
He noted that Plateau’s climate and soil conditions provide a strong advantage for large-scale agricultural production, especially potatoes, and expressed optimism about ongoing collaborations between Dutch companies and local farmers. He also revealed that new seed varieties are being tested and scaled up to improve productivity.
Representing the governor, the Commissioner for Agriculture and Rural Development, Samson Ishaku Bugama, described the festival as a strategic step toward positioning Plateau as a leading hub for horticulture in Nigeria and beyond.
Bugama emphasized that the state government is prioritizing agricultural excellence, improved seed systems, and increased yields, alongside creating investment opportunities across the value chain, including mechanization, processing, storage, and export.
He disclosed that the state is also developing Special Agro-Processing Zones to enhance export potential and attract investors, adding that Plateau aims to tap into a multi-billion-dollar market in potatoes and vegetables over the next decade.
According to him, Plateau produces about 90 percent of Nigeria’s Irish potatoes and possesses significant potential for expansion due to its favorable climate, fertile volcanic soil, and year-round production capacity.
Also speaking, the Executive Director of the National Root Crops Research Institute (NRCRI), Chidozie Egesi, highlighted the importance of research and innovation in unlocking the full potential of the potato value chain.
He noted that while Nigeria remains a leading potato producer in West Africa, yields remain below global standards, stressing the need for improved seed systems, mechanization, and stronger partnerships between researchers, investors, and farmers.
The festival featured exhibitions of crop varieties, fruits, vegetables, and ornamental plants, alongside cultural performances showcasing the rich heritage of Plateau communities.
In his remarks, the Permanent Secretary of the Ministry of Agriculture and Rural Development, Yilkudi Nengak Elisha, appreciated partners and participants, assuring investors of sustained collaboration and improved outcomes.
The event reaffirmed the state government’s commitment to agricultural transformation, with stakeholders expressing confidence that Plateau is well-positioned to become a major hub for horticulture and agribusiness in Nigeria.
Elon Musk, the world’s richest person, has attained trillionaire status after SpaceX, the rocket, AI and satellite communications company established by him, turned a soaraway success on its first trading day, surging 20 per cent to $2.1 trillion in valuation.
SpaceX’s shares closed at $161 on the Nasdaq on Friday, compared to its initial public offering (IPO) price of $135, making it the biggest-ever stock market debut.
The IPO had earlier raised $75 billion from investors and the underwriters of the transaction before the listing.
“Liftoff! First $SPCX trade complete,” Space X wrote on X (formerly Twitter), which Mr Musk also owns.
The 54-year old now has a total net worth of $1.1 trillion, according to the Bloomberg Billionaires Index, with its stake in SpaceX standing at 42 per cent or $767.1 billion as of Friday.
SpaceX debuted with a valuation of around $1.8 trillion. Its valuation at the end of Friday’s trade makes it the sixth-largest publicly traded company in the United States.
Trading under the ticker symbol “SPCX,” SpaceX began trading shortly before noon, attracting strong investor demand.
The listing places SpaceX among the world’s most valuable companies, despite the firm reporting a loss of nearly $5 billion last year and generating significantly less revenue than many technology giants with comparable valuations.
“I gave SpaceX a 10 per cent chance of succeeding at all,” Mr Musk said shortly before the company was listed.
SpaceX, since its establishment in 2002, has evolved from an experimental rocket startup into a dominant player in aerospace, satellite communications, and AI-related infrastructure.
READ ALSO: Elon Musk announces formation of American Party
Starlink, its satellite internet business, has expanded SpaceX beyond rocket manufacturing into a broader technology and connectivity platform.
Mr Musk, who now controls several companies, including Tesla, SpaceX, xAI, and X, began building his wealth by co-founding Zip2 and PayPal.
After completing the acquisition of X in October 2022 in a deal worth $44 billion, Mr Musk introduced monetisation features on the platform, which contributed to the growth of his business empire.
After selling Zip2 and later PayPal, he reinvested much of his earnings into Tesla, SpaceX, and other ventures.
Mr Musk’s wealth is now nearly equivalent to the entire economic output of Switzerland or Poland.
BY NKECHI NAECHE-ESEZOBOR—The National Pension Commission (PenCom) has received a four-member delegation from Kenya’s Retirement Benefits Authority (RBA) for a four-day technical study visit in Abuja, solidifying Nigeria’s position as a leading reference point for pension reform and regulatory innovation across the African continent.
The Kenyan delegation, led by John Keah, Director of Market Conduct and Industry Development at the RBA, is visiting Nigeria from June 8 to 11, 2026, to understudy PenCom’s regulatory and supervisory frameworks.
Keah noted that the engagement highlights the critical role of cross-border learning among African regulators aiming to optimize retirement systems and improve pension outcomes for citizens. He added that structural similarities between the two nations’ pension landscapes make Nigeria’s journey highly relevant to Kenya’s ongoing domestic reforms.
The RBA delegation is focusing its study on PenCom’s Environmental, Social, and Governance (ESG) initiatives, its risk-based supervision framework, and its strategies for expanding pension coverage to both the informal sector and the diaspora.
Keah particularly lauded the governance safeguards within Nigeria’s pension system and described the Diaspora Pension Arrangement as an innovative milestone capable of reducing old-age poverty and enhancing long-term retirement security.
Welcoming the delegation, the Director General of PenCom, Ms. Omolola Oloworaran, reiterated Nigeria’s dedication to regional collaboration and knowledge exchange. Represented by the Director of the Surveillance Department, Abdulrahaman Muhammad Saleem, the Director General revealed that pension assets under management in Nigeria have grown to over ₦32 trillion, representing approximately 10.4 percent of the nation’s Gross Domestic Product (GDP).
This growth, she noted, stems from continuous regulatory reforms, heightened governance standards, and rigorous supervisory mechanisms established since the inception of the Contributory Pension Scheme (CPS) in 2004.
Ms. Oloworaran also highlighted the Federal Government’s recent settlement of outstanding accrued pension rights liabilities as a historic turning point for the CPS.
The intervention, executed through the issuance of a Federal Government bond, effectively resolved a prolonged funding backlog that had previously delayed retirement benefits for public sector employees within Treasury-Funded Ministries, Departments, and Agencies (MDAs).
Under the new framework, accrued rights are transferred directly into retirees’ Retirement Savings Accounts (RSAs), granting immediate access to investment returns and eliminating lengthy waiting periods.
The technical visit, anchored on the theme “Risk-Based Supervision and ESG Integration in Pension Funds,” includes interactive departmental presentations, study tours to selected Pension Fund Administrators (PFAs), and collaborative sessions on emerging risks.
Both regulatory bodies expect the engagement to deepen bilateral cooperation and foster resilient, inclusive, and sustainable pension architectures across East and West Africa.
The post Nigeria’s Pension Assets Top ₦32tn as Kenyan Regulator Understudies Reforms appeared first on Business Today NG.
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