News Agency of Nigeria
Saudi Arabia impacts 4000 Lagos residents with eye care intervention
Health

Saudi Arabia impacts 4000 Lagos residents with eye care intervention

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By Oluwafunke Ishola

The King Salman Humanitarian Aid and Relief Centre (KSrelief) has extended the “Saudi Noor” ophthalmic volunteer programme to Lagos State, impacting more than 4,000 residents with eye care service.

 

Mohammed Alsahabi, Saudi Press Attaché in Nigeria, on Thursday, said the intervention was in continuation of the kingdom’s global mission to provide critical healthcare services to underserved communities.

 

Alsahabi, at the intervention held at Gbagada General Hospital in Lagos, emphasised that the initiative is a significant step in the kingdom’s ongoing support for preventive eye care in Nigeria.

 

He added that the Lagos phase of the initiative brought essential ophthalmologic services to the people.

 

According to him, beneficiaries at Gbagada General Hospital will receive comprehensive eye care services, including eye screening and cataract surgeries with Intraocular Lens (IOL) implants.

 

He further said that beneficiaries would receive correction of refractive errors and prescription eyeglasses.

 

The attaché disclosed that the initiative was executed under the directives of the Custodian of the Two Holy Mosques — King Salman bin Abdulaziz Al Saud and His Royal Highness Crown Prince Mohammed bin Salman.

 

He added that “it forms core component of KSrelief’s broader mandate to provide relief to communities facing healthcare challenges.”

 

Alsahabi noted that since the inauguration of the blindness prevention campaign in Nigeria in 2019, KSrelief conducted more than 218,000 eye examinations.

 

He said “more than 21,000 patients have regained their sight through surgical interventions and over 45,000 eyeglasses distributed, transforming lives and restoring hopes.”

 

He noted that the initiative, recently implemented in Yobe, Kano and Bauchi states, brought relief to thousands in the northern region.

 

“KSrelief’s efforts in Lagos signifies growing recognition of the urban-rural healthcare divide and the need to address eye health challenges even within densely populated city centres.

 

“Gbagada General Hospital, a major referral facility in Lagos, now becomes a vital hub for this life-changing outreach.

 

“With this latest effort in Lagos, the Kingdom of Saudi Arabia reinforces its relationship with Nigeria, dedication to humanitarian health missions and its solidarity with Nigeria’s efforts to combat preventable blindness,” he said.

 

A beneficiary of the intervention, Imam Yahaya Atederui, who is the Chief Imam of Al-Muftiham Mosque in Mushin, Lagos, commended Saudi Arabia “for the magnanimity in alleviating sufferings and preventing blindness in Nigeria.”

 

Atederui, who benefitted from cataract surgery, praised the medical technique and precision, saying it was painless and fast.

 

Similarly, Mr Yusuf Adebeshin, a civil servant, also lauded the Saudi Arabian Kingdom “for providing much-needed relief to many residents of Lagos.

 

“I benefited from a free surgical procedure on my right eye in January and required surgery for my left eye months later to clear my sight.

 

“The private hospital I visited charged me over N1 million, as a civil servant, where will I get that kind of fund? That’s why I’m so grateful for the free humanitarian efforts of the Saudi Arabian Kingdom.”

 

The News Agency of Nigeria (NAN) reports that globally, KSrelief remains steadfast in its commitment to humanitarian excellence and has executed over 3,400 relief projects in more than 107 countries since its establishment in 2015. (NAN)(www.nannews.ng)

 

Edited by Hadiza Mohammed-Aliyu

NSF: Teenager Agbo wins golf gold as FCT takes 9 medals
Sports

NSF: Teenager Agbo wins golf gold as FCT takes 9 medals

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By Victor Okoye

Nigeria’s teenage golfing sensation, Grace Agbo, has made a remarkable impact at the ongoing National Sports Festival (NSF) in Ogun State, clinching gold in the ladies’ stroke play event.

The News Agency of Nigeria (NAN) reports that Agbo secured top honours for Team FCT with a total gross score of 84, delivering a commanding performance that highlighted her rising talent.

Her victory contributed to Team FCT’s impressive medal haul, with the team securing nine medals across multiple sporting events as the championship entered its third day.

Speaking to NAN, a jubilant Agbo shared that the win was especially meaningful as it marked her first-ever gold medal at the National Sports Festival, after missing the podium at the previous edition in Asaba.

“First of all, I started from the back nine with a par on hole 10, but on hole 11, I played two over.

“I had to chip into the cup to save a 7, and played a par on hole 18, which is by far the hardest hole, I saw others play 15, 19, even 21 there.

“That motivated me to push hard for the win,” she recalled.

She expressed gratitude to her coach, Pro Dominic, as well as her uncle, Jide and friend, Janet, crediting them for their unwavering support and guidance.

“These people are the key to my victory. “I could hear their voices in my head on every hole, reminding me not to give up.

“This gold is a result of hard work, and I’m hopeful of winning more for Team FCT before the festival ends,” she said.

FCT Director of Sports, Luka Istefanus, lauded Agbo’s performance, describing it as a testament to her dedication and a source of inspiration for young Nigerian athletes.

“It’s exciting to see young athletes like Agbo excel.

“She has a bright future ahead in golf, and her success will undoubtedly motivate other young golfers in the country,” he said.

Agbo is set to compete again in the ladies’ stableford event later on Thursday, with a chance to secure another medal for her team.

NAN also reports that 11 golfers from Team FCT are participating in at least 10 different golf events at the festival.

These include eclectic, four-ball stroke play (team), and foursome stroke play (team).

Other events they are competing in include match play doubles and singles, as well as various professional formats.

So far, Team FCT has amassed three gold, two silver, and four bronze medals as the festival, which began on May 16, enters its fourth day. The event will run until May 30.(NAN)(www.nannews.ng)

Edited by Abiemwense Moru

Dangote, Niger forge multi-billion Naira agric partnership
Agriculture

Dangote, Niger forge multi-billion Naira agric partnership

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In a major boost to commercial agriculture in Nigeria, the Dangote Group and the Niger State Government are fostering sectoral partnership worth billions of Naira.

The conglomerate said significant investment has been deployed into the company’s rice production infrastructure in the state, even as it is partnering the Government on the Niger Food initiative.

The Niger Food initiative is an agricultural development programme launched by the State Government in partnership with private sector players like the Dangote Group.

Senior Special Adviser to the President and Chief Executive of Dangote Group, Fatima Abdurrahman, said the company’s state-of-the-art rice mill in Wushishi is “progressing steadily and on track for completion.”

Speaking Thursday at the official opening of the 2025 Niger National Trade Fair in Minna, she said: “As part of our commitment to advancing agriculture, we plan to establish one of the largest rice mills here in Niger State.”

Dangote Group is one of the sponsors of the 21st Trade Fair organized by the Niger Chamber of Commerce, Industry, Mines and Agriculture (NCCIMA).

Speaking on the theme: Commercial Agriculture as the Major Contributor to Sub National Economic Growth and National GDP, she said: “This initiative is expected to enhance food security and generate significant employment opportunities for the state’s population.

“This landmark project represents a significant step forward in bolstering the food security initiatives of the State. Upon its delivery, the mill is expected to enhance local rice production, create employment opportunities, and contribute to the agricultural development of Nigeria.”

According to her, the 32 Metric Tonnes Per Hour Mill is a cutting-edge facility developed on a 30-hectare site, designed to enhance rice production and storage capacity in the State.

“This state-of-the-art facility incorporates the latest innovations in rice milling technology, ensuring high efficiency, minimal waste, and premium-quality output. Once operational, it will not only boost local rice production but also strengthen the entire agricultural value chain, from farm to market,” she added.

She said the project was expected to generate employment opportunities, support local farmers with necessary inputs like fertilizer and seedlings, and contribute to the State’s food security goals.

“We will source the rice from local out growers and act as 100% off takers of the production at competitive market prices. The Dangote Rice Mill will also feature an on-site captive power generation facility capable of producing 5.8 megawatts of electricity. The project aligns with broader efforts to reduce reliance on the national grid.”

She added that close to Wushishi, the company is constructing 32 silos, each with a storage capacity of 2,500 metric tons of paddy rice.

In his remark, Gov. Muhammed Bago, who was represented by the Commissioner for Trade, Investment and Industry, Aminu Takuma, said the state government was opening up the state for investment in commercial agriculture.

He commended the Dangote Group, and urged it to take advantage of several investment opportunities and the conducive environment in the state.

He also announced that plans was afoot to make the Niger Trade Fair an international event.

Speaking earlier, President of the Niger Chamber of Commerce, Industry, Mines and Agriculture (NCCIMA), Dr Bisi Adeniyi, called on the private sector to take advantage of the massive land in Niger State, and invest in agriculture.

In his remarks, Minister of State for Agriculture and Food Security, Sabi Abdullahi, who was represented by Dr Suleiman Ladan, said commercial agriculture is central to the President Bola Tinubu economic development agenda.

ECOWAS Bank disbursed .5bn for 300 projects since inception —President
Foreign

ECOWAS Bank disbursed $2.5bn for 300 projects since inception —President

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By Mark Longyen

The ECOWAS Bank for Investment and Development (EBID) has disbursed more than 2.5 billion dollars supporting about 300 projects across the subregion since its inception in 1999.

EBID President, Dr George Donkor, made this known during an interactive session with heads of ECOWAS institutions and specialised agencies at the ongoing First Ordinary Session of ECOWAS Parliament on Thursday in Abuja.

The News Agency of Nigeria (NAN) reports that the interactive session was to enable the bank to present its progress report and vision for regional integration, economic transformation, and sustainable development.

The session also aimed to highlight EBID’s alignment with ECOWAS’ Vision 2050, which emphasises regional integration, social inclusion, and economic resilience.

Donkor, represented by the bank’s Director of Research and Strategic Planning, MacDonald Goanue, said that EBID had within 26 years positioned itself as the financial backbone of the ECOWAS region.

He reaffirmed the institution’s commitment to regional development through its strategic investments in infrastructure, energy, health, agriculture, education, and digital transformation across West Africa.

“In 2024 alone, the Bank approved 10 new projects worth UA 330. 76 million (439.74 million dollars) and appraised 21 additional projects,” he said.

Donkor said the bank’s key flagship initiatives included connecting electricity networks between Mali and Côte d’Ivoire; solar electricity of 750 community facilities in Benin; and construction of a vital bridge linking AIBD to Blaise Diagne Airport in Senegal.

He said that EBID also boosted Medium, Small and Micro Entrepreneurs (MSMEs) financing, supported public-private partnerships, especially in agro-processing and manufacturing, among others, across the ECOWAS subregion.

“The number of projects benefiting from disbursements increased from 56 in 2023 to 77 in 2024.

“The annual loan disbursement rate was approximately 20.54 per cent in 2024, slightly down from 21.58 per cent in 2023,” he said.

The bank’s president stressed that the partnership between EBID and the Ecowas Parliament was essential to realising a stable, prosperous and integrated sub-region.

He also disclosed that Nigeria is the largest shareholder in the regional financial institution, with approximately 33 per cent of total shares, followed by Ghana and Ivory Coast, respectively.

Donkor said that Nigeria would soon give an additional 100 million dollars capital contribution to EBID, which he described as a reaffirmation of its strong commitment to regional economic integration and development.

He said, “Nigeria is the biggest contributor. Nigeria is in the process of even paying 100 million dollars to the bank.

“We finance private projects in Nigeria. The Bank of Industry is our client. We have done business with commercial banks and so on, so, we do a lot in Nigeria.

“Ghana has paid its second tranche; Côte d’Ivoire is doing very well,” he said.

The bank’s president also disclosed that the Indian government availed it about one billion dollars facility to fund infrastructure, energy, transport, and private sector development across West Africa from 2006 till date.

Donkor further explained that EBID is not a commercial bank, and does not take deposits, adding that its operations relied mainly on Member States’ contributions and international financing facilities.

The community parliamentarians took turns to commend the bank for its great contributions to regional development and also sought clarification on specific projects that had been implemented, as well as their sustainability and strategies.

They also offered constructive recommendations aimed at improving transparency, strengthening monitoring mechanisms, and ensuring that development financing was more inclusive.

NAN also reports that the EBID is a leading regional investment and development bank owned by all the ECOWAS Member States, and was established in 1999 with headquarters in Lome, Togo.

The bank currently supports key development projects in all ECOWAS countries, focusing on energy, transport, infrastructure, agriculture, and health, among others, while expanding its footprint and deepening regional integration.(NAN)

Edited by Sadiya Hamza

Advisory group builds NPF’s capacity on weapons, ammunition management
Defence/Security

Advisory group builds NPF’s capacity on weapons, ammunition management

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By Angela Atabo

The Mines Advisory Group (MAG), an international non-governmental organisation, has taken proactive steps to enhance the capacity of the Nigeria Police Force (NPF) in weapons and ammunition management.

Collaborating with the National Centre for the Control of Small Arms and Light Weapons (NCCSALW), MAG is working to ensure that the NPF’s weapons and ammunition are properly secured and managed.

MAG’s Programme Manager, Mr Chachu Tadicha, revealed this during a baseline workshop on Physical Security and Stockpile Management held on Thursday in Abuja.

He emphasised the importance of securing government weapons and ammunition and ensuring they remained in the hands of authorised personnel.

Tadicha said the workshop was organised to assess weapons and ammunition management needs in six pilot states: Anambra, Lagos, Plateau, Cross River, Borno, and the Federal Capital Territory (FCT).

“The goal is to identify existing gaps and strengthen the management of arms and ammunition across these locations.

“MAG works to find and destroy landmines, cluster munitions, and unexploded ordnance in conflict-affected regions,” he explained.

“That’s why we’ve brought together key stakeholders from six states and the NCCSALW, to identify needs and ensure that storage and control systems are secure, preventing unauthorised access.”

According to him, the baseline workshop marks the first step in identifying gaps in stockpile management and exploring ways to bring storage practices up to international standards.

“For instance, are the armories meeting international standards? What can we do to enhance capacity so weapons stay with the police as intended?” Tadicha asked rhetorically.

He added that the findings from this initial assessment would inform collaborative efforts with NCCSALW and the police to address identified needs.

Also speaking at the event, Technical Field Manager for MAG Nigeria, Mr Jerome Gongotchame, disclosed that the project was funded by the U.S. in partnership with NCCSALW.

Gongotchame explained that the baseline assessment was the starting point to evaluate the current weapons and ammunition management systems in the selected states.

“Following this workshop, we will conduct technical assessments to understand the existing infrastructure, processes, procedures, and systems.

“This will help MAG determine the appropriate support needed to improve storage facilities and build the capacity of police personnel,” he said.

He stated that the outcomes of the workshop would be compiled into a report to be shared with the NPF, NCCSALW, and the U.S. government.

“This report will serve as the foundation for developing an operational plan and intervention strategy.”

Director-General of NCCSALW, Deputy Inspector-General of Police (rtd) Johnson Kokumo, praised MAG for its choice to support Nigeria and for mobilising critical resources for the initiative.

Kokumo highlighted the connection between preventing violent extremism and effective arms management, particularly in West Africa.

“It is well known that violent extremism and criminal activities thrive due to easy access to small arms and light weapons,” he said.

“Efficient arms and ammunition management is therefore a key strategy in curbing the proliferation of illicit weapons, which remains a major threat to peace and development in the ECOWAS region.”

He urged participants to make the most of the opportunity to explore ways to strengthen the existing arms management framework within the Nigeria Police Force.(NAN)

Edited by Kevin Okunzuwa

INEC creates AI division to harness elections
Politics

INEC creates AI division to harness elections

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By Emmanuel Oloniruha

The Independent National Electoral Commission (INEC) has approved the creation of Artificial Intelligence (AI) Division, under its Information and Communication Technology (ICT) Department.

The commission disclosed this through Mr Sam Olumekun, the National Commissioner and Chairman, Information and Voter Education Committee, on Thursday in Abuja.

Olumekun said that the division was to allow the commission to continue to harness the positive aspects of AI and mitigate its negative impact on elections.

He said that the commission at its Thursday regular weekly meeting, among other issues, considered the increasing relevance of AI to elections and electoral activities in Nigeria and across the world.

The national commissioner said that recently, INEC attended several conferences with colleagues around the continent, on the impact of AI on elections.

He said that the interactions were not only motivated by the concern over the use of AI to spread fake news or manipulate content online, but also to utilise its benefits for data-driven decision-making, risk detection and mitigation.

Olumekun said that AI had also helped in deepening voter services automation and geo-spatial intelligence, in support of logistic optimisation for better material distribution and polling unit allocation.

“Consequently, the commission approved the creation of an Artificial Intelligence Division under the ICT Department, to continue to harness the positive aspects of AI and mitigate its negative impact on elections.

“The division will enable the commission to better coordinate and maximise existing technology investments, through centralised AI governance.

“It will also enhance decision-making through data-driven insights, risk management and voter engagement.

“Furthermore, it will strengthen electoral credibility through predictive analytics, automation and intelligent safeguards,” he said.

Olumekun said that the initiative put the commission in the forefront of institutionalising AI capabilities within its ICT infrastructure.

He also described it as an important step in INEC’s ongoing reform of the electoral process, in areas that only required administrative action by the commission. (NAN)(www.nannews.ng)

Edited by Florence Onuegbu/Folasade Adeniran

36,359 Nigerian pilgrims transported as airlift operation ends May 30 – NAHCON
Religious

36,359 Nigerian pilgrims transported as airlift operation ends May 30 – NAHCON

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By Deji Abdulwahab

The National Hajj Commission of Nigeria (NAHCON) says it has successfully transported 36,359 Nigerian pilgrims to the Kingdom of Saudi Arabia, saying that the airlift operation will end on May 30.

The commission made the disclosure via its Assistant Director, Information and Publication, Hajiya Fatima Usara, in Madina on Thursday.

Usara said that as at the time of the report, 5,494 pilgrims from the government quota were still awaiting airlift.

“Air Peace is projected to conclude its final Hajj flight on May 24, having secured a slot for the date.

“Similarly, UMZA Aviation is expected to complete its operations from Kaduna on the same day, with only three flights remaining so far.

“Max Air will round off its airlift operations on May 25.

“The extension is due to an increase in the number of pilgrims that continued to register in some of the states assigned to the airline after formal allocation,” Usara said.

According to her, in a special arrangement, FlyNas will conclude its operations on May 30.

“The final FlyNas flight will depart with full complement of pilgrims, including the Governor of Kebbi State.

“The commission will conduct mop-up flights on May 24 in Kaduna by Umza, Abuja by Air Peace, and Max Air in Kano. Max Air’s final flight will take off from Katsina on May 25,” she said.

Regarding the Nusuk card, the NAHCON spokesperson reassured the few pilgrims yet to receive their cards to remain calm as they will receive their cards soonest.

“The Saudi Ministry of Hajj and Umrah, which oversees its issuance in partnership with designated service providers, has directed immediate resolution of all outstanding issues.

“NAHCON is monitoring the process closely to ensure compliance and timely distribution,” she said.

The NAHCON spokesperson recalled that on April 23, the commission announced that its VIP service providers, the Rawaf Mina, secured 2,800 bed spaces in Tent A + facility.

According to her, as the only VIP location secured this year, distribution to interested parties have continued following the announcement.

Meanwhile, the NAHCON Chairman, Prof. Abdullahi Saleh, gave gratitude to Almighty Allah for the successes achieved so far, and prayed for its continuation throughout the Hajj season.

He thanked the commission’s numerous stakeholders that contributed to achieving the feat.

The chairman also praised the intending pilgrims for their patience and civil conduct so far. (NAN)(www.nannews.ng)

Edited by Modupe Adeloye/Edited by Kadiri Abdulrahman

NSF Day 5: Bayelsa soars with 30 gold, 12 silver, 13
Sports

NSF Day 5: Bayelsa soars with 30 gold, 12 silver, 13

284 total views today

By Peter Amine

Team Bayelsa has maintained its lead on the medals table at the ongoing National Sports Festival (NSF) in Ogun.

Bayelsa garnered 30 gold, 12 silver and 13 bronze medals five days into the festival to maintain a comfortable lead.

The News Agency of Nigeria (NAN) reports that the official medals table of the NSF tagged ‘Gateway Games 2024’ indicated that Delta is second with 21 gold, nine silver and 26 bronze medals.

The table also showed that Rivers is third with 11 gold, 10 silver and 10 bronze medals.

Team Oyo occupies the fourth position with 10 gold, eight silver and 13 bronze medals, while Lagos completes the first five with nine gold, nine silver and 18 bronze.

A total of 420 medals have so far been won by states participating in the sports fiesta.

The NSF is a biennial multi-sport event organised by the Federal Government.

It brings together athletes from all 36 states and the FCT to compete in various sports, promoting national unity, sportsmanship, and excellence across Nigeria.

 

STATE TEAM GOLD. SILVER BRONZE TOTAL

Bayelsa 30 12 13 55

Delta 21 9 26 56

Rivers 11 10 10 31

Oyo 10 8 13 31

Lagos 9 9 18 36

Ogun 8 12 13 33

Osun 8 1 1 10

Edo 7 29 25 61

Akwa Ibom 5 1 2 8

Plateau 3 2 6 11

Cross River 3 1 1 5

Abia 2 3 12 17

Invited United Athelete (IJA) 2 3 1 6

Anambra 1 4 2 7

Imo 1 2 6 9

Nasarawa 1 1 4 6

Kano 0 5 6 11

FCT 0 2 5 7

Niger 0 2 0 2

Ekiti 0 1 3 4

Kwara 0 1 3 4

Ondo 0 1 2 3

Bauchi 0 1 0 1

Kaduna 0 1 0 1

Benue 0 0 5 5

 

TOTAL 122   121   177  420

(NAN)(www.nannews.ng)

Edited by Joseph Edeh

NSF: Ashiribo wins Team Kwara’s 1st gold in cycling
Sports

NSF: Ashiribo wins Team Kwara’s 1st gold in cycling

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By Olayinka Owolewa

Olalekan Ashiribo of Team Kwara on Thursday won the state’s first gold medal in the 200m cycling sprint event at the ongoing 22nd National Sports Festival (NSF) in Abeokuta, Ogun.

In a post-victory interview, Ashiribo expressed his joy and optimism about Team Kwara’s prospects at the festival.

The talented athlete secured the state’s first gold medal, said his target now is a national camp call-up as a reward for his impressive performance.

He attributed his success to the unwavering dedication of his coach.

“The zeal and unwavering dedication of our coach has been a major source of motivation behind my eagerness to deliver gold for Kwara.” Ashiribo said.

With Team Kwara determined to win more medals, Ashiribo emphasised the athletes’ seriousness and determination to make the state proud.

“We are approaching each event with utmost seriousness and determination to make the state proud,” he said.

The News Agency of Nigeria (NAN) reports that Ashiribo faced a stiff competition from top cyclists from Rivers, Delta, and Edo to win the gold medal. (NAN)(www.nannews.ng)

Edited by Joseph Edeh

Okomu oil palm records N39.9bn profit in 2024
Agriculture

Okomu oil palm records N39.9bn profit in 2024

382 total views today

By Felicia Imohimi

Okomu Oil Palm Company Plc says it has recorded its highest net profit of N39.9 billion in 2024, compared to N20.6 billion in 2023.

Mr Gbenga Oyebode, Chairman of the Board of Directors of Okomu Oil Palm Company, made this disclosure at the company’s 45th Annual General Meeting (AGM), on Thursday in Abuja.

Delivering the company’s annual report for 2024, he said that in spite of the challenges faced during the year, including an 80 per cent increase in costs among other difficulties, the company was able to navigate these headwinds successfully.

 “The company’s net profit for 2024 on continuing operations increased by approximately 94 per cent, reaching N39.9 billion compared to N20.6 billion in 2023.

“This exceptional performance was mainly fueled by a sustained rise in the prices of our products. Crude Palm Oil (CPO) prices experienced approximately a 35 per cent year-on-year increase.

“This was coupled with a 194 per cent rise in rubber prices.

“Our results were significantly higher than last year, including increased profitability, increased revenue, and expansion of our plantation.

“We continue to plant and process oil palm and rubber. We export the rubber we produce, and our company continues to be a significant investor in Edo State by supporting our local communities and shareholders,” he said.

Speaking on the operational and economic environment for the year, he said geographical tensions and economic pressure dominated the global landscape in 2024.

“In Nigeria, the operating environment was exceptionally challenging and demanding, mainly due to several macroeconomic policies and market reforms implemented by the Federal Government in 2023.

“These resulted in the depreciation of the Naira, a surge in petrol prices, and persistently high inflation, reaching a 30-year peak of 34.8 per cent at the end of the year.

“This increased the already high cost of living, triggering fuel shortages, soaring food prices, escalating energy, and high transport costs.

“Likewise, the country’s debt service cost remained unsustainably high relative to government revenue,” he said.

He added that the company was not immune to the severity of these pressures, as seen in the nearly 80 per cent increase in costs year-on-year.

Regarding operational results, Oyebode reported a total oil palm plantation area of 19,071 hectares for the year, with a mature area of 18,349 hectares.

“The remaining area consists of new and immature palm totaling 662 hectares.

“Total revenue from all palm products in 2024 was N107.5 billion, which was 60 per cent higher than the previous year, while the cost of sales increased by 73 per cent to N40.8 billion,” he said.

Dr Graham Hefer, Managing Director of the company, attributed the high cost of palm oil to the general cost of doing business.

Hefer explained that the company operated in an environment plagued by high inflation coupled with difficulties in accessing foreign exchange.

According to him, these challenges have had a negative impact on the company’s cost of sales.

He said, “The company has done very well in managing these costs, generating better revenue, and we are able to provide better dividends to our shareholders.” (NAN)(www.nannews.ng)

Edited by Abiemwense Moru

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