News Agency of Nigeria
Tinubu approves 6-month temporary ban on export of sheanuts
Agriculture , Business

Tinubu approves 6-month temporary ban on export of sheanuts

Ban

By Salisu Sani-dris

President Bola Tinubu has approved a 6-month temporary ban on the export of raw sheanuts to curb informal trade, boost local processing, protect and grow Nigeria’s shea industry.

Vice-President Kashim Shettima announced the president’s directive during a multi-stakeholder meeting at the Presidential Villa, Abuja.

The News Agency of Nigeria (NAN) reports that the ban, which is with immediate effect, is subject to review on expiration.

It is aimed at boosting Nigeria’s shea value chain to generate around 300 million dollars annually in the short term.

Shettima explained that the ban was a collective decision involving the sub-nationals and the Federal Government with clear directions for economic transformation in the overall interest of the nation.

He, therefore, called on the Federal Ministry of Finance and other relevant government agencies to fast-track enforcement.

The vice-president said the decision was not “an anti-trade policy” but a pro-value addition policy designed to secure raw materials for  processing factories.

He added that the decision would  enable industries run at full capacity thereby boosting rural income and jobs for our people.

” The decision will transform Nigeria from an exporter of raw shea nut to a global supplier of refined shea butter, oil and other derivatives, ” he said.

Shettima said it was about industrialisation, rural transformation, gender empowerment and expanding Nigeria’s global trade footprint.

On opportunities for job creation and income generation, the vice-president said, “Nigeria produces nearly 40 per cent of the global shea product.

” Yet, we account for only 1% of the market share of 6.5 billion dollars.

“This is unacceptable. We are projected to earn about $300 million annually in the short term, and by 2027, there will be a 10-fold increase. This is our target.”

He stated that the government was not closing doors; but opening opportunities.

” Mr President is currently in Brazil, and both countries have agreed to prioritize access for Nigerian shea butter and oil into the Brazilian market.

”  This process will be completed within the next 3 months,” the vice-president added.

He highlighted the gender dimension of the policy, adding, “by protecting the shea industry, we are protecting livelihoods, dignity and opportunity for millions of our women.

“We are not closing doors, we are opening better ones.

“Today, we plant the seeds of an industry that will yield fruit for decades to come for our women, for our economy, and for Nigeria’s place in global trade.”

The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, said that Nigeria was the world’s largest producer of sheanuts, contributing nearly 40 per cent of the global supply.

He, however, said that Nigeria captured less than one per cent of the multi-billion-dollar global shea economy.

Kyari said, ” Nigeria produces an estimated 350,000 metric tonnes of shea annually across 30 states, with the potential to reach nearly 900,000 metric tonnes.

” Yet our share of the 6.5-billion-dollar global market is less than one per cent.

” The Rapid Assessment of the Shea Value Chain, conducted by the the Federal Ministry of Industry, Trade and Investment and in close collaboration with the Federal Ministry of Agriculture and Food Security, provided the evidence that shaped this Presidential directive.”

The minister said the assessment showed that over 90,000 metric tonnes of raw shea were lost each year in informal cross-border trade.

He added, ” Nigeria’s processors operate at only 35 to 50 per cent capacity despite a national installed capacity of 160,000 metric tonnes.”

Kyari said regional neighbours such as Ghana, Burkina Faso, Mali, and Togo had already imposed restrictions to protect their industries,.

According to him, Nigeria is vulnerably left “as the outlier and a hotspot for opportunistic and unregulated buying.

While underscoring the enormous potential of the shea trade for Nigeria, the minister said that the shea sector could generate more than $300 million  annually in the short term.

” And position Nigeria to capture a significant share of the projected $9-billion global market by 2030.

“Shea is one of the few commodities where our country holds both a comparative and absolute advantage.

” With over five million hectares of wild-growing shea trees, Nigeria has the natural endowment to dominate not only in production but also in value-added processing.

“Shea is also identified in our Zero Oil Plan as a strategic non-oil export. With a projected global market growth from 6.5 billion dollars today to nine billion dollars by 2030.

” Nigeria can position itself at the heart of this expansion,” Kyari stated.

He said that since 90 per cent of pickers and processors of shea were women, investments in this value chain would directly translate into women’s empowerment, rural job creation, and sustainable livelihoods.

This, he said, aligned with the Tinubu administration’s focus on women empowerment.

Kyari said, ” And the pledge by the Federal Ministry of Agriculture and Food Security “not only to support the rural population but also to create a pathway for national economic development.

” The reasons for this presidential directive are clear.

“Without corrective action, Nigeria risked becoming a raw depot for opportunistic and illicit buyers, undermining our processors’ capacities, disempowering rural women, and forfeiting billions in potential export revenues.

“The Federal Government rapid assessment, which engaged over 2,000 pickers and 65 processors, confirmed the urgent need for action.

”  Informal exports, estimated at 90,000 metric tonnes annually, are draining our domestic supply.”

According to the minister, with neighbours like Mali, Burkina Faso, and Togo already restricting raw exports, Nigeria risked being left as the region’s raw depot.

Kyari said, “The benefits of the temporary ban are equally compelling.

“It will secure domestic supply, enable processors to operate at full capacity, curb informal trade, and lay the foundation for Nigeria to transition from exporting raw kernels to exporting high-value derivatives such as butter, olein, and stearin.” (NAN)(www.nannews.ng)

Edited by Bashir Rabe Mani

IPMAN to enforce fuel pump integrity at filling stations
Business

IPMAN to enforce fuel pump integrity at filling stations

IPMAN

By Stanley Nwanosike

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it will safeguard fuel pump integrity at filling stations by tackling cheating and related malpractices.

Chairman of IPMAN Enugu Unit, Chief Chinedu Anyaso, disclosed this on Sunday in Enugu shortly after the association’s 2025 Annual General Meeting (AGM).

The Enugu Unit of IPMAN covers independent petroleum marketers in Enugu, Anambra and Ebonyi States, as well as parts of Abia, Imo, Kogi and Cross River States.

Anyaso said members unanimously agreed at the AGM to uphold the integrity of fuel pumps to ensure Nigerians received value for their money.

He stressed that IPMAN was committed to maintaining its reputation for service and product excellence, adding: “IPMAN resolved and planned to set up a task force to ensure compliance of all members to fuel pump integrity.”

According to him, the task force will be inaugurated in September and will operate through dedicated teams in each state under the unit.

“In order to sanitise the system and ensure that the reputation of IPMAN and our members’ fuel stations are maintained; the members during the AGM unanimously agreed that fuel pump cheating and malpractice must be stopped.

“IPMAN will set up a daily mandate task force soon, while the association’s members collectively agreed on a heavy monetary fine as well as sanction for any defaulting fuel station owned by any member,” he said.

He noted that the association had resolved to be firm in dealing with the menace through its own internal disciplinary mechanism; just as the association eradicated stocking bad fuel.

The chairman said that IPMAN Enugu Unit also appreciated the strides of various governors and state governments on development especially road and security infrastructure in the unit’s states of coverage.

“We are encouraged by the governors’ commitment to continue to create a conducive business environment and to ensure smooth road corridors for fuel products to get to all nooks and crannies of the unit,” he said.

Anyaso noted that the members unanimously agreed that it would again write Gov. Chukwuma Soludo of Anambra on the issue of IGR of fuel stations in Anambra.

“We commend him for the discussion so far; however, we are calling all involved to come to a round table and resolve their differences and come to an amicable compromise for the benefit of all,” he said.

The chairman said that members also resolved to write to Gov. Soludo again on the over N900 million debt owed IPMAN members who supplied diesel for the running of streetlights in the state.

The chairman noted that members also deliberated on welfare issues, better ways of lifting petrol products and how to participate in the Dangote Direct Sales and Delivery Scheme as well as JEZCO Oil and Gas offer to assist members.

The meeting also featured presentations by the Federal Inland Revenue Service on electronic tax filing, and by TradeGrid Limited on facilitating petroleum products lifting and installing solar power in fuel stations, among other topics. (NAN) (www.nannews.ng)

Edited by Kevin Okunzuwa

Heirs Insurance Group grows revenue to N31.4bn  
Business

Heirs Insurance Group grows revenue to N31.4bn  

 

 

 

 

 

By Taiye Olayemi

 

 

 

Heirs Insurance Group (HIG) says its revenue increased from N20.5 billion in 2023 to N31.4 billion in 2024.

 

 

 

The group, in its audited financial results for the year ended Dec. 31, 2024, said the figure represented a 53 per cent increase.

 

 

 

It reported a combined Gross Written Premium (GWP) of N61 billion in 2024, reflecting a 70 per cent increase from the N35.8 billion recorded in 2023.

 

 

 

The group’s Profit Before Tax(PBT) rose from N4.8 billion in 2023 to N11.2 billion, representing a 133 per cent year-on-year growth.

 

 

 

It recorded a total of N10.4 billion was paid in claims during the year, compared to N4.18 billion in 2023, marking a 149 per cent growth.

 

 

 

Its total assets also grew by 66 per cent, rising from N55.8 billion in 2023 to N92.9 billion in 2024.

 

 

 

Meanwhile, Heirs life Assurance reported N44.22 billion in gross written premium in 2024 from N23.87 billion in 2023, representing 85 per cent increase.

 

 

 

Its insurance revenue stood at N15.1 billion from N7.3 billion in 2023, indicating 109 per cent growth.

 

 

 

The company’s PBT grew to N5.5 billion, up from N1.88 billion, indicating a remarkable 193 per cent increase.

 

 

 

Total claims paid rose significantly to N5.67 billion, a 120 per cent increase from N2.5 billion paid to customers in 2023.

 

 

 

Investment income rose from N2.8 billion in 2023 to N4.6 billion, marking a 65 per cent increase.

 

 

 

Also, total assets of N66.2 billion when compared to 37.8 billion in the previous year, showing 75 per cent growth.

 

 

 

It gross written premium rose by 42 per cent from N11.9 billion in 2023 to N16.9 billion in 2024.

 

 

 

Insurance revenue stood at N14.3 billion as against N12 billion recorded in 2023, showing 19 per cent growth.

 

 

 

Also, PBT grew by 104 per cent, rising from N2.4 billion in 2023 to N4.9 billion in 2024 while a total of 4.7 billion was paid as claims to policyholders from N3.7 billion the previous year, showing 25 per cent increase.

 

 

 

Heirs Insurance Brokers’ revenue grew by 54 per cent from N1.28 billion in 2023 financial year to N1.97 billion in 2024.

 

 

 

Its PBT appreciated by 53 per cent from N528.59 million in the prior year to N805.91 million in 2024. (NAN) (www.nannews.ng)

 

 

Edited by Olawunmi Ashafa

Professor, who sells vegetables, advises youths on small businesses
Business

Professor, who sells vegetables, advises youths on small businesses

By Zubairu Idris

Prof. Nasir Hassan-Wagini of Biology Department, Umaru Musa Yar’adua University (UMYU), Katsina, who produces and sells vegetables, has advised students and youths to key into small businesses rather than wait for white-collar jobs.

 

Hassan-Wagini gave the advice on Monday in an interview with the News Agency of Nigeria (NAN) at a weekly market in Batsari, Katsina state, where he sells the produce.

 

The professor said he was born by a farmer, grew up as a farmer, and went into produce businesses at an early stage of life.

 

He said that his story became popular after he was promoted to the rank of professor.

 

“My call to the NCE, Diploma and degree graduates is that they should feel free and start small businesses in their communities instead of staying idle.

 

“I’m a professor of plant resources at UMYU, I want youths and students to look at me, know my rank and position, and I still engage in small business of this nature.

 

“That may clear their minds because they feel shame and too big to go into such type of small businesses.

 

“What matters is what you are contributing to the society. So, stop staying at home doing nothing when you did not get job, start with small businesses like this one.

 

“Our youths should stop going to other places looking for job, they should get into farming and other small businesses to become self-reliant.

 

“Self-reliance is key to successful life. Try to merge your education with vocational skills for your own good,” he said.

 

One of his neighbours in the market, Malam Uzairu, said that they enjoy staying with the professor in the market.

 

He described the professor as trustworthy, humble and kind in his interaction with people.

 

“We respect him and he respect us. In fact, he is a nice person who knows how to relate with all categories of people,” he said.

 

NAN reports that the price of a 100 kg bag of onion in the market cost N65,000 and above depending on its quality.

 

A 100 kg bag of dried red pepper sells at N115,000 and above, 100 kg bag of dried tomatoes, N60,000 and above, while 50 kg bag of fresh hot pepper, N100,000 and above.

 

NAN was told that in the next few months, farmers would start harvesting fresh tomatoes, red pepper, onions, among others.

 

NAN also reports that security in the area has improved, and has allowed for business activities to thrive.(NAN) (www.nannews.ng)

Edited by Ismail Abdulaziz

Centre advocates e-procurement to curb corrupt practices
Business

Centre advocates e-procurement to curb corrupt practices

By Monday Ijeh

The Sustainable Procurement, Environmental and Social Enhancement Center of Excellence (SPESSECE) has advocated for the adoption of e-procurement processes by government at all levels to curb corrupt practices.

The SPESSECE coordinator for the FCT, Katsina, Jigawa and Sokoto States, Dr Lawal Salisu, stated this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.

Salisu, who spoke on the sideline of a training programme organised for procurement officers, drawn from Ministries, Departments and Agencies, said SEPESSECE was a World Bank sponsored project.

He said the project was a deliberate attempt by the Federal Government and the World Bank to improve the capacity of federal, state and local government personnel in terms of procurement.

The coordinator said it was also to improve social and environmental standards with a view to ensuring a sustainable procurement process in Nigeria.

He added that the training was a deliberate attempt to educate participants on e-procurement and environmental procurement.

According to him, the conventional way of doing things are more like manual that requires physical meeting and this makes it difficult to curb corruption.

“The more you allow people to meet physically, the more likely you are to have some elements of influence.

“If we change the environmental processes to ensure that there is no physical meeting from the advertisement, handling, analysis and award, corruption will be eliminated.”

The SPESSECE coordinator also said that lack of professionals was a major challenge facing procurement process in Nigeria, adding that, aside the federal government, procurement cadre does not exist in most of the states in Nigeria.

“This is something that has to do with public resources. We require people with academic knowledge and professional certifications.

“People who understand that they will be sanctioned if they mislead the executive on anything that has to do with public procurement,” he said. (NAN)(www.nannews.ng)

Edited by Deborah Coker

Lagos urges support for local production
Business

Lagos urges support for local production

By Aderonke Ojediran

The Lagos State Government has urged Nigerians to embrace locally made products to boost Small and Medium Enterprises (SMEs) and strengthen the national economy.

 

Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folasade Ambrose, made the appeal on Monday during the 16th National Council on Industry, Trade and Investment (NCITI).

 

The event was hosted by the Lagos State Government and organised by the Federal Ministry of Industry, Trade and Investment.

 

Its theme is: ‘Accelerating Diversification to Rebuild Prosperity by Leveraging Industry, Trade and Investment for Shared Prosperity.’

 

According to Ambrose, Nigeria urgently needs to reduce its over-reliance on oil by diversifying the economy.

 

“For Nigeria to remain economically relevant, we must produce and consume more local goods rather than depend on imports,” she said.

 

She noted that Nigeria is at a crossroads and economic diversification is now crucial for survival and global relevance.

 

Ambrose added that past disruptions have shown the danger of depending on a single resource, which limits long-term growth.

 

She stated that the Sanwo-Olu administration is building a business-friendly environment to attract investment and promote industrial growth.

 

Efforts include infrastructure development, policy reforms, and the Lekki Free Zone, which hosts the Dangote Refinery.

 

Other measures are improvements in land administration, tax transparency, and broader industrial support.

 

Ambrose also highlighted the laying of 3,000km of fibre optic cables to reduce data costs for businesses.

 

“Lagos has launched an industrial policy- 2025–2030- to support MSMEs, large-scale industries, and global investors,” she said.

 

She stressed that trade is a major pillar of Lagos’ economy and key to empowering local producers and exporters.

 

“Trade is not just commerce; it drives inclusion, reduces poverty, and supports shared prosperity,” Ambrose stated.

 

She said Lagos remains committed to providing a transparent and secure environment for investors.

 

“In the past year alone, Lagos attracted over $600 million — more than N1 trillion — in new investments,” she said.

 

Ambrose encouraged both state and federal governments to explore new markets and embrace the digital economy.

 

Permanent Secretary, Ministry of Industry, Trade and Investment, Amb. Nura Rimi, said Nigeria must act quickly to adapt shifting global economy.

 

“The global economy is shifting. Nigeria must diversify with purpose and responsive policies,” he said.

 

He described manufacturing as the backbone of industrial growth and key to improving export performance.

 

“We must ease business processes, attract investors, and expand finance access for SMEs,” he added.

 

Rimi said the meeting was an opportunity to develop actionable policies to support industry and trade.

 

“Our ministry is committed to fostering business growth and building investor confidence,” he said.

 

Economist and keynote speaker, Abiodun Adesire, said no nation prospers by relying on imports.

 

He argued that reviving Nigeria’s manufacturing sector was essential for economic survival.

 

“We must produce what we consume. Oil dependence harms our economy,” he said.

 

He added that Nigeria is not producing enough and must focus more on local manufacturing.

 

“History proves that nations grow rich by processing — not exporting — raw materials,” Adesire said.

 

He stressed that Nigeria has the potential to lead Africa’s industrial growth, adding that “Nigeria must actively attract investors. Buying local is a patriotic act”.

 

He urged governments to implement policies that support manufacturing as a path to prosperity. (NAN) (www.nannews.ng)

Edited by Edith Bolokor/Kamal Tayo Oropo

Dangote pledges petrol price stability
Business

Dangote pledges petrol price stability

By Yunus Yusuf

Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to maintaining stable petrol prices, even as global crude oil prices continue to fluctuate.

This contained in a statement issued on Monday in Lagos by the Group Chief Branding and Communications Officer of the company, Mr Anthony Chiejina.

Chiejina stated that the company has consistently reduced the price of Premium Motor Spirit (PMS), underscoring its dedication to supporting the Nigerian economy and easing the financial burden on consumers.

“This decision reflects our commitment to delivering affordable, high-quality petroleum products without compromising efficiency or sustainability.”

Chiejina emphasised that Dangote’s efforts align with the Federal Government’s Nigeria First policy, which prioritises local production.

He added that efforts also supports President Bola Tinubu’s Renewed Hope Agenda aimed at economic recovery and national development.

“Refining petroleum products locally at the world’s largest single-train refinery allows us to significantly contribute to Nigeria’s energy security, conserve foreign exchange, and bolster economic resilience.

“We are deeply grateful to President Tinubu for enabling this through the Naira-for-Crude Initiative, which has helped reduce fuel prices for the benefit of all Nigerians.

“Dangote Petroleum Refinery reassured stakeholders—consumers, partners, and the government—of its continued focus on operational excellence and national service.

“We remain committed to ensuring that the benefits of our local refining capacity are fully realised by Nigerians. Affordability, quality, and national interest will always guide our operations,” he added.(NAN)(www.nannews.ng)
Edited by Yakubu Uba

Seplat prioritises well revival, output growth
Business

Seplat prioritises well revival, output growth

 

 

By Taiye Olayemi

 

Mr Samson Ezugworie, Chief Operating Officer of Seplat Energy, says the company is prioritising the revival of existing wells in its SEPNU asset.

 

 

 

Speaking at Seplat Energy’s 12th Annual General Meeting on Wednesday, Ezugworie noted plans to invest in further drilling campaigns to boost performance and increase production output.

 

 

 

He added the company is increasing gas volumes through ongoing activities at the Sapele Integrated Gas Plant (SIGP).

 

 

 

Ezugworie outlined Seplat’s strategy to maximise production potential, aiming to drive business growth and unlock further opportunities.

 

 

 

“2024 was a year of notable achievement, including the addition of SEPNU assets following a Change-in-Control in December.

 

 

 

“We included 19 days of production from SEPNU, contributing to a full-year output of 52,947 barrels of oil equivalent per day (boepd).

 

 

 

“This marked an 11 per cent increase compared to 2023, which had a range of 46,000–52,000 boepd.

 

 

 

“Our focus remains on reviving existing wells, increasing drilling campaigns and boosting gas volumes through SIGP,” Ezugworie said.

 

 

 

He said Seplat’s legacy business delivered an average working interest production of 48,618 boepd, aided by various positive factors.

 

 

 

These included strong results from 2024 drilling, new gas output from SIGP, and improved Oben gas production after maintenance.

 

 

 

Ezugworie explained that operational gains also came from sustained efficiency on the Trans Niger Pipeline (TNP).

 

 

 

“SEPNU production delivered an annualised average of 4,329 boepd.

 

 

 

“Our 2025 guidance targets 120,000–140,000 boepd, with Q1 already showing 131,561 boepd—aligned with our forecast,” he said

 

 

 

Seplat CEO Roger Brown said the company is committed to enhancing Nigeria’s energy landscape while supporting healthcare, education and empowerment.

 

 

 

He highlighted Seplat’s milestone of conducting 100,000 eye tests under the Eye Can See programme.

 

 

 

“Over 1,000 teachers were supported through our educational programmes.

 

 

 

“In 2024, we launched the Youth Entrepreneurial Programme (YEP) as part of our social investment efforts,” Brown said.

 

 

 

YEP equips young people with practical skills in renewable energy, preparing them for careers in clean energy.

 

 

 

“The programme empowers youth and communities while supporting Nigeria’s energy transition.

 

 

 

“It also aligns with SDG 13.3 — building knowledge and capacity to combat climate change,” he added.

 

 

 

Chief Financial Officer, Mrs Eleanor Adaralegbe, said 2024 financials were buoyed by increased production, particularly SEPNU’s 19-day contribution.

 

 

 

Total revenue reached N1.652 trillion, reflecting strong output despite slightly lower oil prices.

 

 

 

Adjusted EBITDA was N796 billion, including $99 million from SEPNU, a 20.3 per cent rise on 2023.

 

 

 

“After $235 million in taxes, net profit stood at $145 million. We generated $383 million cash from operations,” Adaralegbe said.

 

 

 

She explained that the net debt rose to $898 million due to the acquisition of MPNU.

 

 

 

Seplat retained strong credit ratings and successfully refinanced its $650 million bond in March 2025.

 

 

 

“Our bond yield priced inside Nigeria’s sovereign bond—a first for Seplat.

 

 

 

“We anticipate further improvement in financial performance in 2025, as a larger and stronger company,” Adaralegbe said. (NAN) (www.nannews.ng)

 

Edited by Kamal Tayo Oropo

Coronation Capital advises African entities on funding local projects
Business

Coronation Capital advises African entities on funding local projects

 

 

 

 

 

By Taiye Olayemi

 

Coronation Capital Ltd. on Saturday advised African entities to prioritise funding African projects for sustainable growth.

 

Its Managing Partner, Kayode Akindele, made the call while speaking with the News Agency of Nigeria in Lagos.

 

Akindele said that this was necessary as a result of overdependence on developmental money, which is not sustainable.

 

He emphasised the need for African-led funding to drive long-term progress, reducing dependence on external sources.

 

He said by supporting African projects, entities can foster economic independence, promote local innovation, and address specific regional needs.

 

“There has been an overdependence on developmental money; that isn’t sustainable.

 

“If Africa must set the agenda and ensure long-term progress, African entities need to fund African priorities.

 

“Family offices, in particular, must become strategic allocators, not just silent participants.

 

“We’re proud to stand with AVCA in pushing this narrative forward.”

 

Akindele said that to deepen conversation on this, Coronation Capital, in partnership with Trium, subsidiaries of Coronation Group Ltd., sponsored the 2025 African Private Capital Association (AVCA) Conference in Lagos.

 

He said the conference explored key themes such as the evolving role of family offices, climate-smart investing, infrastructure financing, and pathways to deepen institutional participation in Africa’s growth journey.

 

He noted that the sponsorship was a demonstration of the two companies’ commitment to driving Africa’s economic transformation through capital stewardship, innovation, and intergenerational financial strategies.

 

According to him, the conference, with the theme “Bold Moves: Powering 10x in Africa,” convened over 1,000 delegates from more than 50 countries across the private capital spectrum.

 

Also, Mr Adebayo Adewolu, Chief Executive Officer of Trium, highlighted the importance of context-specific investment vehicles led by African institutions.

 

Adewolu said, “Africa needs capital that understands its rhythm; it must be patient, strategic, and committed.

 

“The just concluded AVCA created a space where investment vision meets local insight.” (NAN) (www.nannews.ng)

 

Edited by Olawunmu Ashafa

Coronation reaffirms commitment to Africa’s growth
Business

Coronation reaffirms commitment to Africa’s growth

 

 

 

 

By Taiye Olayemi

 

Coronation Group has reaffirmed its dedication to Africa’s transformation, committing to impactful initiatives that support sustainable development and long-term prosperity across the continent.

 

 

 

Mr Wole Onasanya, Group Chief Executive Officer, stated on Sunday that Coronation will return as Gold Sponsor of the 2025 Africa CEO Forum.

 

 

 

He noted that the sponsorship aligns with Coronation’s vision for a thriving and prosperous Africa, driven by collaboration, innovation, and purpose-led leadership.

 

 

 

“Coronation Group is proud to return as a Gold Sponsor of the Africa CEO Forum 2025,” Onasanya said.

 

 

 

The Forum takes place on May 12 and 13 in Abidjan, Côte d’Ivoire, gathering top African business leaders and policymakers.

 

 

 

“This platform remains vital for shaping strategic dialogue, encouraging partnerships, and creating a shared vision for Africa’s economic future,” Onasanya said.

 

 

 

He added, “Our continued sponsorship reflects Coronation’s unwavering commitment to Africa’s progress and legacy-building efforts.

 

 

 

“We view ourselves as a prosperity partner, dedicated to sustainable wealth creation and meaningful economic transformation.

 

 

 

“The Forum offers a space for thoughtful engagement, collaborative leadership, and visionary ambition. We’re honoured to support it once again.”

 

 

 

Onasanya confirmed that Mr Aigboje Aig-Imoukhuede, Chairman of Coronation Group, will lead Coronation’s participation at the Forum.

 

 

 

Aig-Imoukhuede will feature in a headline one-on-one discussion on how African family-owned businesses can evolve from survival to generational legacy.

 

 

 

Paul Abiagam, Acting CEO of Coronation Merchant Bank, will also participate in a strategic panel on navigating the Cost of Capital Crisis.

 

 

 

The panel will explore how African businesses can respond to geopolitical shifts with innovation and opportunity-focused strategies.

 

 

 

“Coronation is dedicated to African-led financial solutions that unlock the continent’s potential,” Onasanya said.

 

 

 

He added that the Africa CEO Forum offers a vital stage for turning bold financial ideas into action.

 

 

 

“At the heart of our participation is craftsmanship — our ethos expressed through transformational financial services across Africa.

 

 

 

“It’s a belief we carry into every market, every partnership, and every opportunity,” he said.

 

 

 

Presidents from Côte d’Ivoire, Senegal, South Africa, Ghana, Rwanda, and Tanzania are expected to attend the Forum. (NAN) (www.nannews.ng)

 

Edited by Kamal Tayo Oropo

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