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TMDK Group celebrates 25th anniversary, vows to continue building Nigeria’s Energy, agro-industrial future

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Diversified Nigerian conglomerate, TMDK Group, has marked its 25th anniversary with a renewed commitment to expanding investments in Nigeria’s energy, agriculture, manufacturing and industrial sectors.

The silver jubilee celebration brought together employees, business associates, customers, partners, financial institutions and other stakeholders who joined the Group in reflecting on its journey and celebrating a quarter-century of enterprise, resilience and investment.

Founded 25 years ago by Alhaji Amadu Sule Leda, TMDK Group has evolved from a small real estate investment company into a diversified investment group with significant interests spanning downstream petroleum, petroleum infrastructure, logistics, agro-processing and manufacturing.

The milestone, according to the company, represents not only an opportunity to celebrate its achievements but also a platform to reaffirm its commitment to investing in sectors capable of strengthening Nigeria’s productive capacity, creating employment and supporting sustainable economic development.

Speaking at the anniversary celebration, Suhailu Ismaila, Acting Managing Director of TMDK Agro Park, described the Group’s 25-year journey as one defined by resilience, strategic investment and an enduring commitment to Nigeria.

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He said the company’s next phase would build on the foundation established over the past two and a half decades by pursuing investments that create long-term economic value.

“Twenty-five years is a significant milestone. It reflects years of resilience, strategic investments and commitment to national development. We are celebrating what has been achieved, but we are equally focused on what lies ahead,” he said.

TMDK Group celebrates 25th anniversary, vows to continue building Nigeria’s Energy, agro-industrial future

Expanding Nigeria’s Energy Infrastructure

Over the past 25 years, TMDK says it has established a growing presence in Nigeria’s downstream petroleum industry through investments in petroleum storage, distribution and logistics infrastructure.

The Group’s petroleum operations are focused on strengthening the supply chain and improving the availability and efficient distribution of refined petroleum products to industrial and commercial customers.

Through its investments in storage and logistics infrastructure, TMDK has continued to contribute to the development of Nigeria’s downstream petroleum value chain at a time when efficient storage, transportation and product distribution remain critical to the country’s energy security.

The company said it intends to deepen these investments as part of its broader strategy to support Nigeria’s evolving energy needs and strengthen the resilience of the downstream petroleum supply chain.

From Agriculture to Agro-Industrial Processing

TMDK’s diversification into agriculture has also become a major component of its growth strategy.

At the TMDK Agro Park in Kaduna State, the company is developing an integrated agro-industrial food-processing platform designed to serve both human and animal consumption, while connecting agricultural production with large-scale industrial processing and value addition.

The facility processes maize, soybeans and other agricultural commodities into a range of products, including corn flour, corn grits, edible vegetable oil and animal feed. The company is also developing capacity for the production of pasta and noodles.

David Onabajo, Chief Operating Officer of the Agro Park, said the integrated nature of the facility was designed to create stronger links between farmers, processors and consumers.

According to him, the objective is to move beyond the production and sale of raw agricultural commodities by creating additional value within Nigeria.

“The Agro Park is designed to strengthen local value addition, provide reliable markets for farmers and contribute to Nigeria’s food security by reducing dependence on imported food products,” he said.

The investment is expected to support farmers by creating more reliable off-take opportunities while strengthening domestic processing capacity and expanding employment opportunities across the agricultural value chain.

Investment, Employment and Local Value Creation

The company said its diversification strategy is driven by the belief that sustainable economic growth requires investment in productive sectors capable of generating employment and creating value locally.

The Group’s operations now bring together different elements of the economy, including energy infrastructure, logistics, agriculture and industrial processing.

The anniversary therefore marks a transition from the company’s first 25 years of establishment and consolidation into what management describes as a new phase focused on expansion, innovation and deeper investment.

The Group expressed appreciation to its employees, customers, business partners, financial institutions, regulators and host communities for their contributions to its development.

Tamwakat Barde, Human Resource Manager, said TMDK would continue to prioritise responsible business practices, innovation, operational excellence and employee welfare.

She said the company recognises that its people remain central to its ability to achieve its long-term objectives.

TMDK Group celebrates 25th anniversary, vows to continue building Nigeria’s Energy, agro-industrial future

Recognising Employees

The anniversary also provided an opportunity for TMDK to recognise employees whose contributions have supported the company’s growth.

Bilkisu Suleiman, an employee of the Group, recalled receiving the Chairman’s Award Silver Category after joining the company in January 2025.

“I started working with TMDK in January 2025, and by December 2025, I was awarded the Chairman’s Award Silver Category. This award gave me great joy because it meant the time and effort I put into the growth of the company was seen and acknowledged,” she said.

She urged management to sustain initiatives that recognise and reward employees who demonstrate commitment and excellence.

The company said employee welfare and recognition would remain important components of its corporate culture as it enters its next phase of growth.

Giving Back to Host Communities

Beyond its commercial activities, TMDK said it remains committed to supporting communities connected to its operations.

Abba Aminu, Site Operations Manager at the Agro Park, commended the management for its contributions to society through donations and the provision of food supplies during important festive periods, including Sallah, Christmas and New Year celebrations.

He said such initiatives demonstrated the company’s recognition of its responsibilities to the communities in which it operates.

READ ALSO: In Kaduna, TMDK Group is strengthening Nigerias energy, food security

Looking Ahead

The 25th anniversary comes at a critical period for Nigeria, as the country seeks to attract greater private-sector investment into energy, agriculture, manufacturing and other productive sectors to accelerate economic diversification and improve national productivity.

For TMDK Group, the anniversary is therefore both a celebration of the past and a statement of intent for the future.

The Group said it plans to build on its existing investments by pursuing projects capable of improving energy infrastructure, expanding agro-industrial processing, creating jobs and strengthening domestic value chains.

For Alhaji Amadu Sule Leda, the founder of the Group, the next chapter is anchored on a continuing belief in Nigeria’s potential and the capacity of Nigerian businesses to build globally competitive enterprises from within the country.

Onabajo described the founder as a businessman whose vision continues to shape the Group’s direction.

“Our CEO is a visionary who believes in Nigeria. He is a resilient Nigerian patriot who believes in the Nigerian enterprise,” he said.

As TMDK Group begins its next 25 years, the company says its ambition remains firmly rooted in investment, enterprise and national development — with a strategy centred on building productive assets, creating employment and contributing to the transformation of Nigeria’s energy and agro-industrial landscape.


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Nigeria’s economy grows 4.43% in Q2 2026 — NBS

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Nigeria’s economy grew by 4.43 per cent year-on-year in real terms in the second quarter of 2026, according to the National Bureau of Statistics (NBS).

The latest growth rate is higher than the 4.23 per cent recorded in the corresponding quarter of 2025 and represents an improvement from the 3.89 per cent recorded in the first quarter of 2026.

The NBS disclosed this in its Gross Domestic Product Report for the second quarter of 2026, released on Monday.

The latest figure indicates that economic activity continued to expand during the quarter, extending a gradual recovery recorded over the past year.

Nigeria’s economy grew by 3.87 per cent in real terms in 2025, compared with 3.38 per cent in 2024, according to the NBS data.

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The latest quarterly performance was also the strongest growth recorded since the third quarter of 2024, when the economy expanded by 3.86 per cent, based on the NBS quarterly series.

In nominal terms, the country’s GDP stood at ₦119.29 trillion in the second quarter of 2026, while real GDP was estimated at ₦53.47 trillion.

The improvement came as both the oil and non-oil sectors recorded stronger growth compared with the preceding quarter, although the contribution of the non-oil economy remained overwhelmingly dominant.

Services remain dominant

The services sector remained the largest contributor to Nigeria’s real GDP during the quarter, accounting for 56.62 per cent of total output.

It also recorded real growth of 4.60 per cent, up from 3.94 per cent in the corresponding quarter of 2025.

Agriculture contributed 26.15 per cent to real GDP and grew by 4.39 per cent, a significant improvement from the 2.82 per cent recorded in the second quarter of 2025.

The improvement in agriculture is notable, as the sector remains an important source of employment and income for millions of Nigerians, even as farmers continue to contend with insecurity, high input costs, climate-related pressures, and infrastructure constraints.

The industrial sector, however, recorded slower growth.

Industry grew by 3.96 per cent in the second quarter, compared with 7.46 per cent in the corresponding period of 2025. It accounted for 17.23 per cent of real GDP during the quarter.

The slowdown means that the stronger headline GDP figure was not reflected uniformly across all major sectors of the economy.

Oil production rises

Meanwhile, the oil sector recorded a stronger performance during the quarter, aided by higher crude oil production.

Nigeria’s average daily oil production rose to 1.72 million barrels per day (bpd) in the second quarter, from 1.55 million bpd in the first quarter of 2026.

Production was also higher than the 1.68 million bpd recorded in the second quarter of 2025.

The increase in production coincided with stronger growth in the oil sector.

The sector grew by 7.31 per cent year-on-year in real terms, compared with 2.57 per cent in the first quarter of 2026. On a quarter-on-quarter basis, oil-sector growth stood at 10.91 per cent.

Despite the improvement, oil remained a relatively small part of Nigeria’s overall economic output.

The sector contributed 4.16 per cent to real GDP in the second quarter, up from 4.05 per cent in the corresponding quarter of 2025 and 3.92 per cent in the first quarter of 2026.

By contrast, the non-oil sector accounted for 95.84 per cent of real GDP.

The non-oil sector grew by 4.31 per cent in real terms during the quarter, compared with 3.64 per cent in the second quarter of 2025 and 3.94 per cent in the first quarter of 2026.

According to the NBS, agriculture, information and communication, real estate, trade, financial and insurance services, manufacturing and construction were among the activities that supported non-oil growth during the quarter.

Growth improves but remains moderate

The latest GDP figures suggest that Nigeria’s economy is gaining momentum, but the pace of expansion remains moderate relative to the country’s development needs.

President Bola Tinubu’s administration has repeatedly set a target of achieving 7 per cent annual economic growth by 2027. The 4.43 per cent quarterly growth, therefore, remains below the pace required to reach that broader target if sustained annual growth is the benchmark.

The economy has nevertheless recorded a gradual improvement since the contraction and weak growth rates that characterised earlier years.

The annual growth rate rose from 0.95 per cent in 2021 to 4.32 per cent in 2022, before moderating to 3.04 per cent in 2023. It then increased to 3.38 per cent in 2024 and 3.87 per cent in 2025, according to the NBS data.

The latest figures, therefore, point to a continued, although still gradual, strengthening of economic activity.

READ ALSO: Three-year scorecard of the Federal Ministry of Marine and Blue Economy

However, stronger GDP growth does not necessarily mean that households are immediately experiencing improved living standards.

GDP measures the value of goods and services produced in the economy and does not, on its own, show how income is distributed or whether households can afford basic goods and services.

For Nigerians, the impact of the latest expansion will ultimately depend on whether stronger economic activity translates into more jobs, higher incomes, increased investment and lower production and living costs.

The continued dominance of services and the improved performance of agriculture also highlight the growing importance of the non-oil economy to Nigeria’s growth story.

At the same time, the slowdown in industrial growth shows that challenges related to electricity, financing, infrastructure, logistics, and production costs continue to weigh on the productive sectors.

The latest NBS figures provide further evidence that the Nigerian economy is expanding faster than a year ago.

The bigger test, however, will be whether that growth can be sustained and broadened across productive sectors and translate into tangible improvements in Nigerians’ economic well-being.


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NSIA Insurance Grows Revenue by 18% to ₦33bn, Divests Life Insurance Portfolio

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BY NKECHI NAECHE-ESEZOBOR—NSIA Insurance Limited one of Nigeria’s most recapitalised insurance company, on Monday released its financial statement for the year ended 31st December, 2025 with 18 percent growth in revenue.

The Chairman of the company, Dr. Adesegun Akin-Olugbade, disclosed this today during a press briefing that revenue grew to ₦33 billion in 2025, representing an 18 percent growth over N30.1 billion reported in the previous year.

Profit after tax stood in excess of  ₦2 billion while total assets stood at ₦53 billion.

Committed to prompt claims payment, he said the company paid a total of ₦18 billion in claims in 2026, bringing its cumulative claims payout over the last four years to ₦47.9 billion.

Speaking further on just concluded recapitalization, he said “At the AGM, the shareholders ratified the capitalisation of N6 billion from retained earnings, increasing the company’s issued share capital from N9 billion to N15 billion through a bonus issue of two new shares for every three shares held, this strengthened the company’s capital base without requiring any additional investment from shareholders and ensured full compliance with the Nigerian Insurance Industry Reform Act of 2025.

This achievement according to him was driven by sustained financial performance, with shareholders’ funds growing by 74.3 percent from N13.6 billion in 2021 to 23.7 billion in 2025, supported by cumulative profit after tax of over N9.3 billion during the period.

The move he said will strengthened the company’s capital base without requiring additional investment from shareholders, while ensuring full compliance with the Nigerian Insurance Industry Reform Act of 2025.

He noted that as part of its strategic repositioning,it  has transitioned to operate exclusively as a non-life insurer, enabling the company to deepen its focus on general insurance.

He disclosed that its proposed transfer of its life insurance portfolio will be to CHI Consolidated Hallmark CHI Life Assurance Limited, and this, he said has received approval in principle from National Insurance Commission,(NAICOM), and will be completed upon the conclusion of the remaining legal and regulatory processes.

Looking ahead, he reassured that NSIA  remains committed to disciplined underwriting, digital innovation, superior customer service, and sustainable value creation for its customers, shareholders, and the Nigerian economy.

Also, managing Director/CEO, of the company, Moruf Apampa, explained the company’s decision to divest its life insurance portfolio to CHI Life Assurance Limited.

According to him the decision was deliberate and designed to eliminate distractions that could hinder growth in the general insurance segment.

“We’ve decided to have a more focused strategy to drive our general business. By doing so, we’re able to scale better than before because there’s no distraction — we’re focused on driving the numbers,” he said.

He disclosed that a key part of the company’s strategy is to achieve deep household penetration across the country, targeting what he described as an “NSIA family” in every Nigerian home.

“For every householder in Nigeria, we must have an NSIA family. That’s very strategic for us, and it’s deliberate. That’s where we believe we can scale, and that’s what we intend to do deliberately over the next five years,” he said.

Highlighting the company’s strength in motor insurance, he said NSIA has built a claims process designed for speed, with dedicated teams inspecting claims and, in many cases, processing payment on the same day.

“When I say motor, I can conveniently tell you that if you report a claim today, we have a team that will inspect that same claim and give you feedback that same day. If possible, once you sign, you also receive your benefit that same day,” he said, adding that this reflects the kind of institution NSIA aims to be.

He stressed that the company prioritizes customers over profit, arguing that insurers should not celebrate strong profits while shortchanging policyholders on claims.

“We’re not putting profit before the customer — we’re putting the customer before the profit. How would you feel if we came here to announce a ₦3 billion profit, but only ₦2 billion was paid out as claims, while customers outside are complaining?” he asked.

According to him, consistent delivery of value to customers is what builds trust and repeat business in the insurance industry.

“It’s usually about the message, not the messenger, and the message is always right. By delivering value to the customer, that’s when they gain the confidence to come back, repeat their purchase, and tell others that insurance actually works,” he said.

The post NSIA Insurance Grows Revenue by 18% to ₦33bn, Divests Life Insurance Portfolio appeared first on Business Today NG.

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