Business

Multi-Billion Naira Fertilizer Plant Opens in Plateau State, Boosting Nigeria’s Agricultural Productivity

Published

3 years ago

January 25, 2024

Preport

Plateau State, Nigeria – A major step towards agricultural advancement has been taken with the official commissioning of the Plateau Duncan Fertilizer Company, a multi-billion naira state-of-the-art facility located in Larwin Heipang, Barkin Ladi Local Government Area. This modern plant promises to serve farmers not only within the middle belt region of Nigeria but also across the country.

Commitment to Quality and Food Security

Dr. Godfrey Bawa Shitgurum, Chairman/Chief Executive Officer of Plateau Duncan Fertilizer Company Limited, assured farmers and citizens of Plateau State of the company’s unwavering dedication to producing high-quality fertilizers. He emphasized the vision behind establishing the plant:

“Achieving sustainable agriculture to meet society’s food needs without compromising standard informed the vision of establishing the company, knowing fully well that Plateau State and other neighboring states comprised a huge agrarian population.”

A Public-Private Partnership for Progress

The Plateau Duncan Fertilizer Company is a Public Private Partnership (PPP) between the Plateau State Government and Oil and Chemical International (OCI) Limited, a subsidiary of the Duncan Group. This collaboration, formed in August 2016, aims to establish and operate a modern NPK Fertilizer blending plant. The ultimate goal is to enhance food security by boosting the productivity of farmers in Plateau State and beyond.

Skilled Workforce and Government Support

Dr. Godfrey highlighted the company’s skilled and dedicated team of professionals managing the facility. He also noted their participation in the Federal Government’s Presidential Fertilizer initiative, providing fertilizers to farmers at subsidized rates.

Senator Rochas Okorocha, who chaired the commissioning ceremony, praised the project, acknowledging Plateau State’s significant agricultural potential. He expressed his belief that the plant would not only revolutionize agriculture but also create numerous livelihood opportunities. He urged the community to safeguard this valuable investment and called on all levels of government to prioritize agriculture and education for the nation’s prosperity.

Governor Caleb Mutfwang, represented by the Commissioner of Agriculture, Hon. Samson Ishaku Bugama, commended the project and reaffirmed Plateau State’s position as the “food haven of Nigeria.” He pledged the government’s continued support to ensure the plant’s success in serving farmers both within the state and across the nation.

A Beacon of Hope for Food Security

Representatives from the Ministry of Agriculture and Food Security, the Gbong Gwom Jos and Gwom Rwey of Heipang, the Plateau State Commissioner of Commerce, and other dignitaries all applauded the establishment of the plant. They recognized its potential to generate employment, alleviate poverty, and address the critical challenge of food security by producing high-quality fertilizer.

The opening of the Plateau Duncan Fertilizer Company marks a significant milestone for Nigeria’s agricultural sector. This modern facility, combined with skilled personnel and dedicated government support, promises to be a driving force in enhancing food production and ensuring a brighter future for farmers and the nation as a whole.

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Business

Access Holdings appoints Orimoloye as Access Bank executive director, risk management

Published

7 hours ago

September 19, 2026

Preport

Access Holdings Plc has announced the appointment of Ifedayo Orimoloye as Executive Director, Risk Management of its flagship subsidiary, Access Bank Plc.

The company disclosed this in a regulatory filing signed by Sunday Ekwochi, Group Company Secretary, on Friday, saying the appointment followed the approval of the Central Bank of Nigeria (CBN) and would take effect from 21 September.

Commenting on the appointment, Aigboje Aig-Imoukhuede, Group Chairman, Access Holdings Plc, said the appointment will further strengthen the Bank’s risk governance and support its scale to value focus.

“Mr. Orimoloye brings strong global risk management experience and strategic leadership to the Board of Access Bank Plc. His appointment will further strengthen the Bank’s risk governance and support its scale to value focus. We are pleased to welcome him and look forward to his contributions to the Group’s long-term value creation agenda,” he said.

The appointment, the company said, reinforces Access Bank’s commitment to strong governance, prudent risk management and sustainable stakeholder value.

It added that the appointment was made in line with applicable regulatory requirements and the Bank’s corporate governance framework.

Profile

Mr Orimoloye is an internationally recognised risk management executive with over 25 years’ experience across leading financial institutions in Africa, Europe and the United States.

His expertise spans enterprise risk management, capital optimisation, credit governance, regulatory compliance and strategic transformation.

READ ALSO: CBN begins work on new financial inclusion strategy, targets deeper access

He was recently the Group Chief Risk Officer of the African Development Bank, where he oversaw a portfolio exceeding $40 billion and supported the institution’s continued AAA ratings from Moody’s Investors Service, S&P Global Ratings and Fitch Ratings.

He also played key roles in landmark capital and securitisation transactions, including initiatives to expand renewable energy access across Africa.

Mr Orimoloye previously held senior risk leadership positions at Sterling Bank Plc, Ecobank Transnational Incorporated, Wells Fargo Bank, HSBC and Citigroup, where he led risk transformation, portfolio management and governance initiatives across multiple markets.

He holds dual bachelor’s degrees in Economics and Finance, as well as an MBA in Finance from California State University, Hayward.

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Business

EFCC Hands Over Recovered N140m to Loan Firm in Lagos

Published

15 hours ago

September 18, 2026

Preport

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, Okotie-Eboh, Ikoyi, Lagos, have handed over the sum of N140million to an investment and money-lending company, B4 Sail Limited.

The recovery of the funds, handed over in bank drafts by the Acting Zonal Director, Lagos Zonal Directorate 2, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo, followed investigations into an alleged case of obtaining money by false pretence and diversion of funds involving one Jacob Oyebola Esan and companies linked to him.

In a petition submitted on April 20, 2026, B4 Sail Limited alleged that Esan, on behalf of his company, Geo Fields Plc, had approached the company in August 2025 for a N500 Million Naira loan facility to boost his business.

The loan facility, according to the petitioner, attracted an interest rate of 15 per cent per month and had a tenor of one month.
Investigation revealed that Esan, who is the first suspect, had previously obtained other loan facilities from the company, bringing his total loan exposure to N1,065,000,000.00 (One Billion, Sixty-Five Million Naira).
It was also revealed that Esan pledged shares held by him as collateral for the facilities through Calyx Securities Limited, the clearing house for the stocks, with the understanding that the shares would be subject to a lien in favour of B4 Sail Limited and that the company would have the first right of payment upon the sale of the shares.

The lien, investigation revealed, was communicated to B4 Sail Limited through a letter signed by the second suspect, Gbolahan Azeez Bello, Managing Director, Calyx Securities Limited.

Further investigation, however, revealed that the shares pledged as collateral had been sold without the knowledge of the petitioner, resulting in the suspect’s alleged default in repaying the facilities.
Consequently, the outstanding loan and accrued interest had risen to N2,250,500,000.00 (Two Billion, Two Hundred and Fifty Million, Five Hundred Thousand Naira).

Speaking during the handover ceremony, Kaltungo stated that the recovery “represents a further step in the Commission’s efforts to ensure that funds and assets recovered in the course of its investigations are appropriately returned to legitimate owners and victims in accordance with due process.

The post EFCC Hands Over Recovered N140m to Loan Firm in Lagos appeared first on Business Today NG.