Business

Investors Applaud Plateau Government’s Agricultural Drive at Horticultural Festival

Published

7 months ago

March 29, 2026

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.

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Business

REA Ends 16 Years of Darkness in Two Kano Communities

Published

8 hours ago

October 25, 2026

PlateauReports

BY GABRIEL MICHEAL—The Rural Electrification Agency (REA) has again advanced its goal of deepening electricity access across the country with the commissioning of two mini-grid projects in Kano State after over sixteen years of darkness.

The agency commissioned two projects comprising a 195kWp system in Ballagaza and a 70kWp system in Marayar Rogo, located in Warawa, which will serve 2,222 households ending over sixteen years of darkness.

Speaking at the ceremony, the Managing Director of REA, Abba Aliyu, described the project as another step toward achieving the Renewed Hope Agenda’s goal of electrifying over 17 million Nigerians.

He described the project as a strong example of what public-private partnerships can achieve.

He also thanked the Kano State Governor, Abba Kabir Yusuf for identifying electricity as a key deliverable of his administration and for providing a conducive environment for the execution of the project.

“The Federal Government did not build these mini-grids and hand them over. Alfuttaim Nigeria Limited invested its own money, built them, and will own and operate them for many years. What the government did, through the DARES programme delivered by the REA with support from the World Bank, was to subsidize part of the cost to ensure the electricity is affordable for you.”

“Under DARES, Nigeria is working toward 1,350 mini-grids, and the programme has already brought new or improved electricity to more than five million Nigerians. Our country still has more people without electricity than any other nation in the world. That challenge will not be solved by a single agency or programme; it will be solved community by community, in places like Ballagaza and Marayar Rogo, when private companies are willing to invest and communities take ownership of what is built for them. The government’s job is to keep its word to both,” he said.

The Gabazawa community which is known for groundnuts, millet, sorghum, and soya, as well as its blacksmiths, weavers, and dyers, will experience advanced production, allowing groundnuts to be pressed into oil and kuli-kuli using electric machines and sold at a better price.

The mini-grid project will also serve the primary healthcare centre in the Gabazawa community, which has previously been without power.

In her remarks at the event, the Co-founder of Alfuttaim, Dr. Nabilah Sani, expressed delight at the completion of the project, noting that it will not only power homes but also boost agricultural productivity.

She thanked the Federal Government for facilitating the funding that brought the project to fruition while noting that these are just two of ten sites currently under development in Kano.

She further urged residents of the community to protect the infrastructure as their own and shun vandalism.

The post REA Ends 16 Years of Darkness in Two Kano Communities appeared first on Business Today NG.

Business

CBN grants JP Morgan approval-in-principle to set up merchant bank

Published

16 hours ago

October 24, 2026

PlateauReports

The Central Bank of Nigeria (CBN) has granted approval-in-principle to JP Morgan to set up a merchant in the country.

The move eases the path for the US largest bank to expand its services – payments, lending, trade finance and corporate banking – in Nigeria, where it has operated a representative office for years.

JP Morgan Merchant Bank Nigeria Limited plans to run wholesale banking, capital markets and advisory services, Michael Akuka, the CBN’s director of corporate communications and investor relations, said in a statement on Friday.

The approval-in-principle is the first phase of the licensing process, and does not translate into an ultimate banking permit.

JP Morgan needs to clear further regulatory hurdles such as incorporation with the Corporate Affairs Commission and operational approvals before it can commence operations, the regulator stated.

The push comes amidst hordes of banking sector reforms in Africa’s most populous country, aimed at bolstering the financial system, enhancing market confidence and boosting resilience.

According to the statement, the CBN also approved the nomination of Adedapo Olagunju as the managing director of the bank and Latter Kevin George, Nzelu Chinedum Izunwanne and Syed Gabriel Murtaza as non-executive directors.

“Our objective is to build a financial system that is stable, competitive and internationally connected, one that commands confidence and can effectively support investment and economic growth,” said CBN Governor Olayemi Cardoso.

READ ALSO: CBN outlines market infrastructure supporting Nigeria–China financial flows at Beijing investor forum

“We are encouraged by the growing interest of international financial institutions in Nigeria. Our focus remains on sustaining the reforms, strengthening the credibility of our markets and creating an environment in which both domestic and international institutions can participate and thrive,” he added.

On Tuesday, Bloomberg, citing sources with knowledge of the deal, reported that JP Morgan was on course to secure a banking licence in the country after depositing N50 billion ($38 million) with the CBN.

It noted that the bank hopes to receive the licence by year-end or in early 2027, provided it is able to obtain all the requisite approvals

P Morgan’s presence in Nigeria dates back to 1961, when Chase Manhattan Bank, which later evolved into JP Morgan Chase & Co., opened a branch in Lagos, providing a wide range of commercial banking services to local businesses and individuals.

A year earlier, Chase International Investment Corporation, a unit of Chase Manhattan Bank, served as the lead partner in organising Nigerian Textile Mills in Lagos, regarded as the first major private industrial project with an American interest in Nigeria.