Author: gqSbgCfmna

[unable to retrieve full-text content]

read more BDWeekender 22nd Nov 2025

Nigeria’s largest palm oil producers are gaining from surging global Crude Palm Oil (CPO) prices, which have seen their net incomes jump to the highest on record.

Profits at both Presco and Okomu rose to N117.11 billion in the nine months to September 2025. That’s 113.6 percent higher than the N80.09 billion recorded in the corresponding period last year. The companies’ combined earnings for the first three quarters of this year were almost the same as their total net profit for the full year of 2024 at N117.74 billion.

“CPO prices rose across the globe and were higher compared to last year, as there was capacity expansion by these players. Presco, in particular, made several acquisitions that supported the topline,” said Kayode Eseyin, lead consumer goods and agricultural sector research at Lagos-based Cardinal Stone.

Global CPO prices are bullish, and there are forecasts that the prices will climb to $1,200 per metric tonne (MT) by the end of 2025, up from the current $1000.06/MT. The price rally is being driven by supply disruptions, intensified biodiesel demand in Southeast Asia, and easing trade tensions between major economies like the U.S. and China.

“With global supply tightening as Indonesia and Malaysia ramp up domestic biofuel mandates, Nigeria stands to benefit from elevated international prices and widening domestic supply gaps,” Afrinvest said in its 2025 Oil Palm Sector Update.

Read also: Why Okomu, Presco model should interest Imo, Cross River

In 2024, local palm oil prices surged 56.8 percent year-on-year to N420,906 per MT, reflecting the ripple effect of global price movements, naira devaluation, and imported input inflation. These tailwinds helped boost industry revenue by a staggering 90.2 percent to a record N337.7 billion, comprising N207.5 billion from Presco and N130.2 billion from Okomu.

The palm oil makers are also reaping from a stable macroeconomic condition, with inflation cooling for the seventh consecutive month to 16.02 percent, the strongest single-month disinflation seen this year and the lowest it’s been in three years, even as purchasing power remained weakened.

The naira, which weakened by over 40 percent in 2024, has strengthened by almost 10 percent this year, maintaining a rare stability not seen in recent years. Though the local currency depreciated by 1.5 percent week-on-week  to N1,457.38/$ driven by strong demand from corporates seeking to leverage available liquidity to secure imports ahead of the festive season, analysts at Cordros expect the naira to remain largely stable as “FX liquidity remains robust.”

Presco to gain on expansion push

Presco is expected to gain from its acquisition of Ghana Oil Palm Development Company Limited (GOPDC) and Saro Oil Palm in a total deal worth $171.6 million in a race to meet its broader expansion strategy and deepen market penetration.

The deal, for which the company is partly raising N237 billion through a rights issue, is expected to boost the oil palm firm’s bottom line as well as its top line while strengthening its market reach.

“This Rights Issue marks a pivotal moment in Presco’s journey. It enables us to consolidate our leadership in the agro-industrial sector, fund strategic acquisitions, provide needed working capital, and reinforce our balance sheet to pursue local and international business expansions,” Reji George, MD/CEO of Presco Plc, said at the formal signing ceremony recently.

Read also: Presco targets N237bn from existing shareholders as Rights Issue commences

Okomu rides on low leverage to boost profitability

Okomu Oil continues to ride on its low leverage, an approach that’s helped the company cut down existing borrowings, with interest expense on loans declining by 9.7 percent year-on-year (YoY) to N579.7 million in 9M’25.

Analysts at CardinalStone see total finance costs, including lease liabilities, decline by 21.4 percent YoY to N3.6 billion by the end of this year and by another 33.2 percent to N2.4 billion in full-year 2026, assuming the entity maintains its conservative funding structure.

At the current rate, the analysts said the company is expected to pay down its existing loans by 2029. “The low leverage is expected to support margin expansion and profitability, with Profit Before Tax (PBT) margin forecast to increase by 8.2 percentage points (ppts) to 49.3 percent in FY’25E and a further 3.3 ppts to 52.6% in FY’26E.”

Profit streak seen growing in 2026, albeit slowly

Analysts at CardinalStone project that Presco’s profit will rise by 68.1 percent to N130.34 billion and Okomu’s to N75.76 billion by the end of the year. But the momentum with which earnings grew this year may begin to wane by 2026 as disrupted supply chains make way.

“I think profit will grow next year again, but the profit growth won’t be as significant as this year,” Eseyin said.

Oil palm stocks defy market sell-offs

Despite the recent sell-offs that saw the Nigerian Exchange suffer its biggest loss since 2015 and lose about 6 percent in value in four weeks, Presco and Okomu stocks remained resilient, highlighting heightened investor confidence.

Shares of Okomu have risen 9 percent over the past four weeks, making it the sixth-best on NGX. This is as the stock has seen its share price gain 150 percent to close trading on Friday at N1,100 per share. That means a N1 million investment in Okomu in January would be worth N2.5 million now.

That’s also the same with Presco, the biggest player in the industry, where its share price has surged by 205 percent year-to-date to close trading at N1,450 per unit. A N1 million investment in Presco’s stock would be worth N3.05 million today.

The world’s wonders remain a magnet for travellers. The Seven Ancient Wonders of the World, documented by Greek travellers in the fifth century BC, celebrated human ingenuity. These included the Hanging Gardens of Babylon, the Colossus of Rhodes, and the Lighthouse of Alexandria. Today, only the Great Pyramid of Giza survives, standing 4,600 years as a testament to ancient engineering.

Time and nature have taken their toll on the other ancient wonders, leaving them only in history books and legends. But the spirit of marvel did not fade. The New7Wonders Foundation launched a global initiative to recognise heritage sites across the world. Over 100 million votes were cast to select the New Seven Wonders of the World.

The list includes Petra in Jordan, the Taj Mahal in India, and other landmarks that celebrate cultural diversity and human achievement.

Read also: Best 3 destinations to visit in Africa and others in 2024

Travel experts say visiting these wonders offers more than sightseeing. Structured tours and travel packages allow visitors to explore history, architecture, and culture in depth. Planning, securing tickets, and understanding access options are essential for a rewarding experience. These sites continue to inspire awe and connect travellers with the stories of civilisations past and present.

According to the Independent, here is a guide on how to visit each of these wonders.

1. Roman Colosseum, Italy

The Colosseum is the largest amphitheatre ever built and remains a symbol of ancient Roman life. Constructed in the first century AD under the Flavian dynasty, it hosted gladiator battles and animal hunts. It is located in the centre of Rome and is accessible to visitors daily. Tickets can be purchased online in advance or at the entrance. Guided tours and audio guides are available to explain the history and architecture of the site.

2. Petra, Jordan

Petra is an ancient city carved into rock that served as a crossroads for Arabia, Egypt, and Syria-Phoenicia. It was inhabited by the Nabataeans over 2,000 years ago and later became part of Roman and Byzantine territories. Visitors can enter Petra through the Siq, a narrow canyon leading to the Treasury, and explore temples, tombs, and other structures. Entry tickets are required, and the site is accessible on foot or by horse carriage.

Read also: 10 safest countries to visit in Africa in 2024

3. Christ the Redeemer, Brazil

Christ the Redeemer is a 98-foot statue on Corcovado Mountain in Rio de Janeiro. Completed in 1931, it was constructed by engineer Heitor da Silva Costa, with contributions from sculptor Paul Landowski. The site can be reached by train, car, or on foot. Visitors can view the statue and the city from observation platforms. There is an entrance fee for access to the top.

4. Taj Mahal, India

The Taj Mahal, a white marble mausoleum, was built by Emperor Shah Jahan in memory of his wife Mumtaz Mahal. Completed in 1648, it is located on the banks of the Yamuna River in Agra. Visitors can enter the complex through a main gate and explore the mausoleum, gardens, and surrounding buildings. Tickets are required, and there are restricted visiting hours to manage crowds.

Read also: 5 fastest growing tourism destinations in 2024

5. Machu Picchu, Peru

Machu Picchu is a 15th-century Incan citadel in the Andes Mountains. Abandoned shortly after the Spanish conquest, it was rediscovered in 1911. The site can be reached from Cusco by train to Aguas Calientes and then by bus or on foot. Entry requires a ticket that must be booked in advance. Guided tours provide historical and cultural context for the citadel, temples, and terraces.

6. Chichén Itzá, Mexico

Chichén Itzá is a pre-Hispanic Mayan city in the Yucatán Peninsula. The main structure, El Castillo or the Temple of Kukulkan, is a 98-foot step pyramid. Visitors can explore the pyramid, temples, and plazas across the archaeological site. Tickets are required, and it is recommended to visit early in the morning to avoid crowds and heat.

Read also: Here are 5 attractive investment destinations in Africa in 2024

7. Great Wall of China, China

The Great Wall stretches over 13,000 miles and was built to protect China from northern invasions. Construction started in 220 BC and continued until the 17th century. Visitors can access sections of the wall near Beijing, including Badaling, Mutianyu, and Jinshanling. Some areas are more restored and easier to climb, while others are rugged. Entrance fees and cable cars are available at certain sections.

Cities worldwide are embracing technology and sustainability to redefine urban life in 2025. Governments, businesses, and communities are collaborating on projects integrating digital innovation, renewable energy, efficient transport, and citizen engagement.

From AI breakthroughs to self-driving cars, innovation is accelerating rapidly, with select regions leading the charge. According to the 2025 Global Innovation Index (GII) by WIPO, top countries and metro clusters are driving technological progress.

Seven European and Middle Eastern cities stand out, demonstrating how strategic tech use, public participation, and sustainable planning can reshape urban living for efficiency, resilience, and environmental responsibility.

Read more: Here are Africa’s 9 smartest cities in 2024

According to Interesting Engineering, here are seven cities leading sustainable growth and smart living in 2025

Zurich

Zurich continues to develop as a smart city through its Smart City Zürich strategy, launched in 2018. The city uses smart data platforms to monitor traffic, waste management, and public services. Programs such as Open Zurich promote transparency and collaboration among government, startups, and planners. The ZVV app integrates buses, trains, and e-scooters for efficient travel. Waste heat from factories is reused for heating and cooling, while augmented reality and digital twins support safer and more sustainable construction planning.

Oslo

Oslo has maintained a high ranking in the Smart City Index since 2019. Named European Green Capital 2019, the city promotes electric mobility, with 40% of private cars and 90% of new car sales in 2024 being electric. The FutureBuilt program advances low-carbon, high-quality architecture near transit hubs. Oslo’s energy system relies mainly on hydropower, covering around 60% of total consumption. The automated Oslo Toll Ring supports zero-emission vehicles and funds eco-friendly transport initiatives.

Read also: 7 cities driving the future of smart living

Geneva

Geneva has strengthened its position in the Smart City Index through the Smart Canton project, which uses advanced technology to improve infrastructure. The TetraEner initiative combines renovation and new construction to maximise renewable energy use. The Geneva Lac Nations project links buildings to a hydraulic network for heating, cooling, and irrigation. LoRaWAN technology monitors environmental factors, optimising energy and transport systems. Geneva also focuses on public participation, education access, and green space development.

Dubai

Dubai rose from 12th to 4th place in the 2025 Smart City Index. Its strategy is based on six pillars: economy, living, governance, environment, people, and mobility. AI-powered traffic systems use sensors and cameras to reduce congestion by 20%, while the Roads and Transport Authority manages traffic lights in real-time. Projects such as the DEWA Smart Grid and Dubai Silicon Oasis support energy efficiency, helping the UAE aim for 75% clean energy by 2050.

Read also: Lagos, Accra named among world’s best nightlife cities in 2024

Abu Dhabi

Abu Dhabi moved from tenth to fifth place in the Smart City Index. The Zayed Smart City Project, launched in 2024, is a five-year plan using AI and IoT technology to pilot smart traffic, lighting, and parking systems. The TAMM platform integrates hundreds of government services digitally, reducing paper use by over 90%. The city is also building networks for electric vehicle charging, in line with its Sustainable Energy Strategy and the UAE’s net-zero goal by 2050.

London

London has introduced systems such as the Congestion Charge, contactless payments, and the Ultra-Low Emission Zone to manage urban mobility and reduce emissions. Transport for London and BAI Communications have installed over 2,000 km of cabling in the Tube network to enable 4G and future 5G coverage across all stations and tunnels. Open data platforms allow startups and developers to create solutions for parking, EV charging, and environmental monitoring.

Read also: Top 10 favourite cities in Africa and the Middle East of 2024

Copenhagen

Copenhagen aims to be the world’s first carbon-neutral city, a goal set in 2009. The city prioritises carbon neutrality, sustainable urban living, and economic growth. Cycling infrastructure is central, with 62% of residents commuting by bike on 400 km of dedicated lanes. Smart infrastructure projects, such as the Copenhagen Connecting plan, are expected to generate €600 million in socioeconomic benefits, supporting the city’s long-term sustainability objectives.