Business

Fish farmers to new NAIC boss: ‘Your appointment must bring real change, not just promises’

Published

7 days ago

June 11, 2025

A coalition of aquaculture professionals under the aegis of National Aquaculture Professionals Alliance (NAPA) has welcomed the appointment of Yazeed Shehu Danfulani as the new Managing Director of the Nigerian Agricultural Insurance Corporation (NAIC), but with a clear message: it must not be business as usual.

In a statement signed by its President, Engr. Ibrahim Ayotola Bamidele, the group applauded President Bola Tinubu for what it described as a “strategic choice”.

But while NAPA acknowledged the appointment as a potential turning point, it stressed that farmers are tired of symbolic appointments that fail to deliver results on the ground.

“For years, fish farmers have suffered in silence—plagued by floods, disease outbreaks, and unpredictable production costs—with little to no insurance support,” Bamidele said.

“Mr. Danfulani’s appointment is a moment of renewed hope, but it must lead to action.”

The group pointed out that NAIC, despite its mandate, has remained distant from everyday farmers, especially smallholder aquaculture operators who form the backbone of Nigeria’s protein supply chain.

“The truth is, NAIC has been largely invisible to grassroots farmers. This is the time to change that,” Bamidele stated, calling on Danfulani to break from the past and usher in a new era of practical insurance schemes that are accessible, affordable, and timely.

He argued that Danfulani’s background in finance, agriculture, and enterprise development gives him an edge — but only if it’s matched with the political will to reform NAIC into a truly farmer-focused institution.

According to Bamidele, the sector has the potential to contribute significantly to food security, foreign exchange earnings, and employment if it is properly supported with risk mitigation tools like insurance.

“The reason many young Nigerians avoid agriculture is because of the risks. But if NAIC is repositioned under Danfulani to offer responsive insurance schemes and timely payouts, more people will be willing to invest in farming,” Bamidele noted.

The group called on the new NAIC leadership to prioritise stakeholder engagement and bridge the existing gap between the agency and farmers at the grassroots.

“We urge Mr. Danfulani to work closely with associations like ours. Let NAIC move from being a name on paper to being a visible support system for farmers across Nigeria. Organise sensitisation drives. Meet us where we are — in hatcheries, ponds, and markets,” the group said.

Bamidele also appealed to the Federal Government to back Danfulani’s leadership with the needed policy and budgetary support to deliver on the Renewed Hope Agenda in agriculture.

“The agricultural sector is key to the Tinubu administration’s diversification agenda. We urge Mr. President to give NAIC and its new leadership the resources, legal backing, and institutional support required to succeed.”

“We don’t need more press releases. We need action. Organise town halls, visit our hatcheries and ponds, show farmers that NAIC is not just a name on paper,” the statement read.

The association pledged its readiness to support the agency’s efforts through collaboration, data sharing, and awareness campaigns to encourage more farmers to embrace agricultural insurance.

“This appointment means nothing if we don’t take advantage of it. We are ready to partner with NAIC to sensitise our members and ensure that the benefits of insurance are felt across the sector,” Bamidele stated.

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Business

Lagos loses N4trn yearly to traffic congestion, moves to regulate tanker operations

Published

4 days ago

June 13, 2025

Ekwutos Blog

The Lagos State Government has disclosed that the state suffers economic losses amounting to approximately N4 trillion each year due to persistent traffic congestion

This was revealed by the Special Adviser to the Governor on Transportation, Mr Sola Giwa, during a recent interview on TVC News.

He identified unregulated parking and the chaotic activities of tankers and articulated vehicles along key logistics corridors as major contributors to the problem.

In response, the government has announced the enforcement of an Electronic Call-Up (E-Call-Up) system, scheduled to take effect from Monday, June 16, 2025.

The initiative targets tankers and articulated vehicles operating along the Lekki-Epe corridor

Giwa explained that all truck operators entering Lagos to load or offload goods will now be required to register and book their movements through the E-Call-Up platform.

The system is designed to coordinate truck activities, eliminate indiscriminate roadside parking, and reduce traffic disruptions.

“Under the new system, tanker operators will be required to upload their Authority to Load, ATL, and pre-book assigned parking slots before arriving in Lagos.

The platform will also collect relevant cargo and travel data, supporting better logistical planning and enforcement.

Seven dedicated truck parks have been approved along the Lekki-Epe axis. These facilities will be equipped with restrooms, kitchens, electricity, and other basic amenities to support driver welfare and operational efficiency.

Giwa stated that the policy is the outcome of more than two years of stakeholder engagement and is a key part of the state’s broader efforts to reform its transportation system and build a more efficient and resilient urban environment.

Business

Arnold Ekpe: Nine things you need to know about new Chairman of Dangote Sugar

Published

5 days ago

June 12, 2025

Ekwutos Blog

Dangote Sugar Refinery Plc recently appointed Mr Arnold Ekpe as the new Chairman of its Board, effective 16th June 2025.

Ekpe’s appointment comes after the retirement of Alhaji Aliko Dangote as Chairman of the company on Wednesday.

Dangote’s retirement brought an end to a 20-year leadership of the company.

His retirement will take effect starting from June 16, this year, according to a statement issued yesterday by Company Secretary Temitope Hassan.

However, Ekwutosblog brings you seven things you need to know about Dangote’s replacement, Arnold Ekpe:

1. Ekpe is a seasoned finance professional with more than thirty years of experience in the corporate sectors and banking.

2. He was born in Aug. 1953 in Nigeria, and went to King’s College, Lagos, where he graduated in 1972 and later traveled to abroad for his tertiary education.

3. Ekpe attended the University of Manchester and earned a First Class Honours degree in Engineering as a Shell Scholar (1973–1976).

4. He later obtained an MBA from Manchester Business School (1977–1979).

5. Ekpe started his career in 1977 with Schlumberger SA as a Wireline Logging Engineer.

6. He joined Alcan Aluminium Nigeria as Executive Assistant to the CEO in 1979.

7. Ekpe then entered the banking industry in the early 1980s, starting at International Merchant Bank (an affiliate of First Chicago) as Head of Strategy.

8. He later became Group CEO of Ecobank Transnational Incorporated, a role he held until his retirement in 2012.

9. He has served as an Independent Non‑Executive Director at Dangote Sugar Refinery since 2024.

Business

‘No deal collapsed’ – Nigerian Govt breaks silence on forward crude oil sale

Published

6 days ago

June 12, 2025

Ekwutos Blog

The Federal Government has debunked reports suggesting the collapse of a proposed forward crude oil sale involving the Nigerian National Petroleum Company Limited, NNPCL.

This was as the government stated that no final decision has been made on the matter.

According to a statement by the Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga, on Wednesday in Abuja, the government said it was aware of recent media speculation surrounding the deal, stressing that such commentary is premature and inaccurate.

“While market speculation is not uncommon in the context of ongoing economic reforms and transactions, no final decision has been announced by the Government.

“Commentary suggesting the collapse of any such initiative is unfounded,” the statement read.

The statement maintained that the forward sale of crude oil-an arrangement often used to secure financing by pledging future oil production-remains under consideration as part of a broader strategy to stabilise Nigeria’s economy.

“The government remains focused on deploying a range of innovative, transparent, and fiscally responsible financing strategies to optimise Nigeria’s oil assets, improve external liquidity, and strengthen macroeconomic stability,” Manga said.

The Federal Government expresssed its commitment to deploying innovative, transparent, and fiscally responsible financing strategies to optimize Nigeria’s oil assets, improve external liquidity, and strengthen macroeconomic stability.

The move is said to be part of the government’s ongoing economic reforms aimed at promoting economic growth and development.

The Finance Ministry also reassured stakeholders that any decisions regarding forward crude oil sales will be made with careful consideration and transparency.