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POULTRY FARMERS SEEK AFFORDABLE ACCESS TO GRAINS

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The Poultry Association of Nigeria on Friday called on the Federal Government to make grains available to poultry farmers at affordable prices.

The association’s National Publicity Secretary, Mr Godwin Egbebe, told the News Agency of Nigeria (NAN) in Lagos that affordable access to grains would ease cost of production in the poultry sub-sector.

Egbebe said the accessibility to grains for feed production was one of the expectations of its members from President Bola Tinubu’s administration.

“Our expectation from the new administration is that they should be proactive in achieving food security, especially in the poultry sub-sector.

“We also seek for affordable access to grains for feed production to ease cost of production. Commercial maize and soya are obtained from the North, and we are well aware of insecurity issues there as well as the high transport cost.

“These are the factors that have made grains, sometimes, inaccessible and when accessible, costly,’’ Egbebe said.

He noted that before the insecurity issues became compounded, a ton of grain went for between N200,000 and N220,000.

Egbebe lamented that now, a ton of grain was sold for between N290,000 and N310,000.

“Once grains are accessible and affordable, we will have enough to produce feed for the birds. This will also lead to drop in prices of poultry produce and the cost of production will be brought to the barest minimum,’’ the PAN official said.

Egbebe said that if this was achieved, in the long run, “it is going to be a win-win situation for all players across the poultry value chain.”

He said this would make animal proteins such as eggs and chicken affordable for the average Nigerian.

The PAN official noted that the egg glut within the sub-sector had subsided drastically as “some farmers have dropped out of the business, so we now have fewer egg producers.”

“Presently, a crate of eggs sells at the farm gate from N2000 to N2200 depending on the size.

“The price of eggs and other poultry produce can only go down once we have affordable access to grains and subsequent decrease in production cost,” he stressed.

Egbebe, however, said things were a bit stable now and bearable in the sector as farmers were doing all within their power to stay afloat and break even despite the myriad of challenges in the sub-sector.

(NAN)

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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