Category: Business Day

United Bank for Africa (UBA) is positioning itself at the centre of a new continental growth agenda. The bank has come up with a plan to unlock over $4 trillion indomestic financial assets to power Africa’s sustainable development.

The strategy was unveiled in a new whitepaper entitled ‘Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth.’ The document was launched on the sidelines of the International Monetary Fund (IMF) and World Bank Annual Meetings in Washington, D.C.

The whitepaper calls for a shift from aid dependency to investment-led development. It argues that Africa’s economic future depends on integrating its vast domestic resources with global partnerships that can de-risk investment and accelerate private-sector growth. According to UBA, Africa holds over $4 trillion in domestic financial assets, including $2.5 trillion in commercial bank assets and $1.1 trillion in long-term institutional capital. Yet, much of this capital remains underutilised. The report proposes a framework to channel these funds into infrastructure, manufacturing, renewable energy, and digital innovation.

By aligning domestic capital mobilisation with the $3.4 trillion potential of the African Continental Free Trade Area (AfCFTA), UBA sees an opportunity to create a self-sustaining financial ecosystem. The goal, it says, is to enable African nations to rely less on foreign borrowing and concessional funding.

Tony Elumelu, UBA’s Group Chairman, said the bank’s initiative builds on the Africapitalism philosophy, a development model that places the private sector at the core of Africa’s economic transformation.

‘Africa stands at a transformational crossroads, rich in resilience, creativity, and untapped potential,’ Elumelu said. ‘With this whitepaper, UBA champions Africapitalism, empowering our private sector to drive sustainable growth that delivers prosperity and social wealth.’

Elumelu, who also chairs Heirs Holdings Group, said the new framework is designed to attract investors through innovation, inclusion, and transparency. He urged both local and foreign investors to collaborate in mobilising Africa’s untapped domestic wealth.

‘To investors across Africa and the globe: join us in mobilising our $4 trillion domestic capital alongside strategic partnerships to bridge opportunities, de-risk investments, and build a self-determined future,’ he said. ‘The era of action is upon us.’ UBA’s whitepaper also identifies key growth levers, trade facilitation, digital finance, climate-resilient infrastructure, and inclusive development. These, it argues, will determine Africa’s competitiveness in the next decade.

Oliver Alawuba, UBA’s Group Managing Director, said the document redefined the continent’s approach to financing growth.

‘UBA, with our deep local knowledge and global reach, is uniquely positioned to unlock capital flows and foster collaborations that transform challenges into opportunities,’ he said. ‘We call on financial leaders worldwide to partner with us in deploying agile solutions – from digital platforms to blended finance – that deliver resilient growth for millions.’

Analysts say UBA’s push reflects a broader trend among African lenders seeking to influence global development narratives. In recent years, institutions such as Afreximbank and the African Development Bank (AfDB) have made similar calls for Africa to fund more of its own growth through domestic resource mobilisation.

Africa’s financing gap for sustainable development is currently estimated at $200 billion annually, according to the United Nations Economic Commission for Africa (UNECA). Rising debt-service costs and limited access to global capital markets have intensified the need for homegrown financial strategies.

By promoting domestic capital integration, UBA’s whitepaper seeks to reframe how global investors perceive risk on the continent. The bank argues that increased local participation will improve creditworthiness, reduce dependency on external borrowing, and attract more long-term capital. For UBA, which operates in 20 African countries as well as in the UK, US, France, and the UAE, the whitepaper also represents a strategic play. The bank serves over 45 million customers and employs 25,000 people globally, giving it one of the deepest footprints in Africa’s financial ecosystem.

As Africa looks to close its infrastructure and capital gaps, UBA’s call to mobilise local wealth may influence how policymakers and private financiers approach growth financing.

OpenAI has selected the University of Lagos (UNILAG) as the home of its first-ever Artificial Intelligence academy in Africa, a move that cements the institution’s growing reputation as a continental hub for innovation, research, and global collaboration.

The announcement was made during the opening ceremony of UNILAG’s 2025 International Week held in Akoka, Lagos.

Themed ‘Equitable Partnerships and the Future of AI in Africa,’ this year’s International Week drew academics, innovators, government officials, and industry leaders from across the world to explore how global cooperation can accelerate inclusive technological growth on the continent.

Professor Afolabi Lesi, the deputy vice-chancellor (Development Services), described the International Week as a gathering for building global partnerships that create shared impact, stressing that beyond the intellectual conversations, UNILAG’s real goal is to translate dialogue into tangible outcomes. ‘We are here to move from intent to results that can be seen and felt by our faculty, our students, our communities, and our nations. At UNILAG, internationalisation, research, industry engagement, and artificial intelligence meet in a way that is purposeful, ethical, and equitable,’ Lesi said.

Lesi highlighted that UNILAG’s partnership model is founded on co-design and shared standards. ‘Partners choose UNILAG because capability here is matched by contextual knowledge tested in real environments. Our engineers work with linguists, our clinicians with social scientists – so that technology answers to people and places, not the other way round,’ he said.

Professor Folasade T. Ogunsola, the vice-chancellor, called the event a pivotal gathering of minds of purpose and vision, and urged African institutions to move from being passive consumers to active creators in the AI revolution.

‘Artificial Intelligence is not the future; it is the present. For Africa, AI represents an opportunity to leapfrog limitations and reimagine education, healthcare, governance, and industry. But for AI to truly serve Africa, the foundation must be equitable partnerships, rooted not in charity, but in shared growth, mutual respect, and co-creation,’ she said.

Ogunsola cited examples from UNILAG’s ongoing research efforts, including its health innovation challenge, nuclear engineering partnerships, and medicinal plant research, as proof that the university is building solutions that fit African contexts. ‘The future of AI is not in Silicon Valley alone; it is in Lagos, Nairobi, Kigali, Accra, Cairo, and Johannesburg, in the minds of young Africans who dare to dream, build, and lead,’ she said to applause. The high point of the event came when Mr Emmanuel Lubanzadio, Africa lead at OpenAI, announced the launch of the OpenAI Academy at UNILAG, the first of its kind on the continent.

Lubanzadio said the decision was inspired by UNILAG’s growing profile as a powerhouse in artificial intelligence and emerging technologies, as well as its demonstrated commitment to equitable research partnerships.

‘Truly, AI can be a great equaliser, and that is why OpenAI is adamant about providing access to all. We are excited to partner with an institution that believes in using technology to answer real human needs. The OpenAI Academy will nurture African talent and ensure that innovation isn’t concentrated in a few hands, but democratised across communities,’ Lubanzadio said.

The announcement drew enthusiastic applause from the audience, a mix of students, academics, and tech innovators, as it marked a major leap in positioning Nigeria as a continental player in artificial intelligence education and research.

In goodwill messages, Dr Bosun Tijani, Nigeria’s minister of Communications, Innovation and Digital Economy, praised UNILAG for taking a leadership role in shaping the country’s AI future. Represented by Dr. Olubunmi Ajala, the director of the National Centre for AI and Robotics, the minister described artificial intelligence as the great equaliser, which affords Africa the opportunity to close the gap of existing inequalities.’ He also revealed that the Tinubu Administration has launched a national fibre optic initiative aimed at connecting all 774 local government areas with high-speed internet, ensuring that innovation and digital opportunities reach every Nigerian. ‘Access to the capacity to innovate and create value must be democratised among all Nigerians,’ Tijani said.

Adding a private-sector voice, Ms Yvonne Ike, managing director and head of Sub-Saharan Africa at Bank of America, commended UNILAG for producing world-class graduates who thrive on global stages. ‘I don’t know what the water you drink here is made of, but your products are doing you proud. When they come up against students from Cambridge or Harvard, they shine, no complex, no hesitation,’ Ike stated.

She emphasised that Africa’s biggest asset in the AI era is its human capital. ‘Our future doesn’t depend on the technology itself. It depends on who builds, deploys, and benefits from it,’ she said.

Returnee governor, Sim Fubara, seems to bare his new teeth as he has just cancelled a N134bn renovation job awarded by the Sole Administrator.

The governor has also ordered the contractor to return the N20bn said to be ‘mobilisation fee’ collected in the job that was allegedly awarded in the last minute of the life of the emergency rule. The government has ordered the advertisement of the bids of the cancelled job and some other jobs to interested bidders for prequalification, according to law.

The Rivers State executive council which held its first meeting since return of Fubara came out smoking with directives and orders. A statement signed by Nelson Chukwudi, Chief Press Secretary to Gov Fubara, quoted interviews granted after the executive council meeting by some commissioners and permanent secretaries.

The statement said the revoked job was awarded to the China Civil Engineering Construction Corporation (CCECC) for the renovation, retrofitting, and furnishing of the Rivers State Secretariat Complex by the State of Emergency Administration.

Relatedly, according to the statement, the Council approved the revalidation of the bidding processes for four contracts, consisting of the renovation of the State Secretariat Complex, construction of reinforced concrete shoreline protection and reclamation works in several riverine communities of Opobo/Nkoro, and Ogba/Egbema/Ndoni Local Government Areas. The projects earlier advertised for which bid documents were cancelled by the Emergency Administration and fees returned to the companies that had earlier purchased them.

Briefing newsmen, Austen Ezekiel-Hart, Permanent Secretary, Ministry of Works, explained that the contracts had been awarded in a hasty manner without following due process.

He said the council, therefore, approved the revalidation of the bidding process for all four contracts that were earlier advertised in national dailies on February 19, 2025.

With the revalidation process now on, Ezekiel-Hart stated that a fresh bidding will be advertised in newspapers for competent and experienced contractors to prequalify and submit both technical and commercial bids. He listed the projects to include, ‘The construction of 4.8km reinforced concrete shoreline protection and reclamation of Queenstown, Epellema, Oloma, and Minima communities in Opobo/Nkoro Local Government Area in Rivers State. The construction of 2.5km shoreline protection and reclamation in Ndoni-Onukwu, Isikwu, and Aziazagi communities in Ogba-Egbema-Ndoni Local Government Area.

‘The construction of 2.5km shoreline protection and reclamation in Utuechi, Obiofu, Isala, Ani-Eze, and Odugri communities in Ogba-Egbema-Ndoni Local Government Area. The renovation, retrofitting and furnishing of the Rivers State Secretariat Complex,’ he added.

Also speaking, Azibaolanari Uzoma-Nwogu, the Permanent Secretary, Ministry of Education, announced that the council approved the constitution of a committee to develop a proposal for the creation of Computer-Based Test (CBT) Centres and ICT Laboratories across the three senatorial districts of the state.

She explained that the initiative is in line with the Federal Government’s directive that beginning in 2026, all examinations conducted by the West African Examinations Council (WAEC) and the National Examinations Council (NECO) will be computer-based. The committee, chaired by the Deputy Governor, has the Secretary to the State Government, Permanent Secretaries from the Ministries of Education, Works, Information and Communications and Commisaioner for Energy as members. Dr. Uzoma-Nwogu said the move would prepare Rivers youths for a digital future and improve the quality of education across the state.

On issues of employment, Chisom Gbali, the Commissioner for Employment Generation and Economic Empowerment, said the council reviewed ongoing efforts to create jobs for Rivers youths.

He disclosed that his ministry has been directed to develop a framework for job creation and economic empowerment, noting that the government is determined to open up more opportunities for the young population.

On his part, Honour Sirawoo, the Permanent Secretary, Ministry of Information and Communications, said council also deliberated extensively on the recent flash floods experienced in some parts of the state. He said the council directed immediate remedial intervention to address the situation, and cautioned residents against the indiscriminate disposal of waste into drainage channels and building on waterways, which worsens flooding.

Sirawoo further noted that Governor Fubara remains deeply committed to the development of Rivers State and determined to accelerate the pace of governance despite time lost. He added that the administration’s renewed focus and energy will soon place Rivers State firmly back on the path of sustainable growth and progress.

Gov. Bassey Otu of Cross River has called for investment partnerships with the diasporas in the effort to improve the development and economy of the state.

Otu made the remark at an Investment and Business Conference organised by the state government and attended by the Global United Christian Congress of Africa and Diaspora (GUCCAD) in Calabar on Wednesday.

The theme of the conference was ”Invest Cross River.”

The governor, represented by Michael Odere, the state Commissioner for Finance, explained that partnership was a bedrock of international cooperation through which investment decisions were made and implemented.

He said that interdependence of countries for inclusive growth underscored the need for geographical zones to harness their respective natural and human endowments in readiness for partnership with another zone. According to him, the assemblage of our brothers and sisters in the diaspora today is a well-thought-out initiative by the state.

Otu added that the initiative was to catalyse growth and development in different sectors of the state through capital importation or foreign direct investment.

He explained that the state had a land area of 20,156 square kilometres and a projected population of 4.4 million with 2.9 per cent annual growth.

He added that also with the prevailing tropical climate and solid mineral deposits, the state is certainly an ideal investment hub.

‘Besides, the state is a frontier to Equatorial Guinea, the Cameroon and São Tomé and Príncipe; it is also home to the largest free trade zone in Nigeria with a near-zero crime rate,’ he said. Reiterating the potentials of the state, Otu said that the agriculture, mining and renewable energy, infrastructure and tourism sectors in the state were all open to investments.

On his part, President of GUCCAD, Prof. Ijeoma Nwosu, said he had assisted in convincing the international community that Nigeria was serious about reconciliation and business.

Nwosu said that representatives from 18 nations that came with them were very excited about the state and its potential.

He assured that in their return in 2026, they would come with twice the number that came in 2025 to invest in the state.

Similarly, Bong Duke, Vice Chairman, Cross River Planning Commission, said the state was not just offering land but providing a tested agro-model with links to thousands of local farmers. He said this would ensure a steady supply of raw materials like cocoa, cassava, among others, urging the investors to invest in factories and harness the abundant resources of the state.

Duke reminded them that transforming agricultural raw materials into finished goods could be exported from Calabar to Europe and the Americas.

He said that other areas ripe for investment in the state included aviation and tourism, and ancillary businesses.

According to him, you have the capital, global connections and global perspectives, but we have the land and a ready workforce.

‘I urge you to move from the diaspora narrative to the developer narrative as Cross River remains one of the safest places in Nigeria for your investment,’ he maintained.

Kwara State Governor, Abdulrahman Abdulrazaq, has inaugurated the newly rehabilitated Otte/Budo-Egba Waterworks in Asa Local Government Area, to expand access to clean and safe water for residents of the region.

The governor said the completion of the 500,000-litre capacity water facility underscores his administration’s commitment to modernising water infrastructure across the state.

Speaking at the inauguration held in Otte town, the governor said: ‘This is not just about giving our people clean water. The project brings comfort and renewed confidence in the government’s ability to deliver.’

Represented by Abdulrazaq Jiddah, his Special Adviser on Special Duties, the governor explained that his administration’s water agenda was designed to ensure safe, reliable, and sustainable access to potable water in all parts of Kwara State.

‘Access to clean water improves public health by reducing the prevalence of waterborne diseases. ‘It also supports education, as children no longer have to spend hours fetching water instead of being in school,’ he added.

Governor Abdulrazaq commended the contractors for their professionalism and appreciated the patience and cooperation of residents throughout the project’s execution. He also acknowledged the support of development partners and relevant agencies whose collaboration contributed to the successful completion of the project.

The governor listed other ongoing water rehabilitation projects in the State, including Omu-Aran, Oyun and Sobi Waterworks, reaffirming that access to clean water is a fundamental right of every Kwaran. He pledged continued investment in the water sector to ensure sustainable supply. Among the dignitaries at the event were the Chairman of the Kwara State House of Assembly Committee on Water Resources, Yunus Oniboki; Commissioner for Water Resources, Usman Yunusa Lade; Chairman of Asa Local Government, Shehu Yahaya Amasa; Senior Special Assistant to the Governor on Religion (Islam), Ibrahim Danmeigoro; Chairman of the State Universal Basic Education Board (SUBEB), Shehu Raheem Adaramaja; Chairman of the Lower Niger River Basin Development Authority, Abdullateef Gidado Alakawa; APC Chieftain, Abdulrahman Giwa; former Attorney-General and Commissioner for Justice, Salman Jawondo (SAN); and the Daudu of Afon, Anafi Balogun.

Oniboki commended the governor for what he described as a landmark achievement that would significantly ease the challenge of water scarcity in Otte and neighbouring communities.

Lade urged residents to take ownership of the facility and protect it against vandalism, noting that the government had invested substantial resources in improving water accessibility and sanitation across the state.

Chairman of Asa LGA, Amasa, expressed gratitude to the Governor, describing the project as both ‘beneficial and gigantic.’

‘I know the hardship my people faced searching for water during the dry season. Their suffering has now been alleviated by Governor AbdulRahman AbdulRazaq. We are truly happy and grateful,’ he said.

Adaramaja and Alakawa, in their separate remarks, praised the administration for its even spread of developmental projects across the state and pledged the continued support of the people of Asa Local Government.

Adaramaja recalled the community’s years of hardship due to lack of water and thanked the Governor for ‘coming to their rescue,’ while also appealing to the government to help revive the Otte market and other essential infrastructure.

The Independent National Electoral Commission (INEC) has debunked claims circulating in the media that it arbitrarily fixed the sum of ?1.5 billion for the release of Certified True Copies (CTCs) of the National Register of Voters and the list of polling units across Nigeria.

In a statement signed by Victoria Eta-Messi, director of Voter Education and Publicity, INEC, it explained that the cost strictly reflects the actual expense of document duplication, as provided for under the Freedom of Information (FOI) Act 2011.

The clarification follows public criticism after details emerged that a law firm, Messrs V.C. Ottaokpukpu and Associates, was billed ?1,505,901,750 for certified copies of the full national voters’ register and polling unit list.

INEC stated that the fee was calculated based on Section 8(1) of the FOI Act, which authorises public institutions to charge the ‘actual cost of duplication and transcription’ for requested documents.

‘The Commission received the request on October 8, 2025, and approved it on October 13, 2025, in line with established procedures,’ the statement read. ‘The cost was determined strictly in accordance with law and existing guidelines – no arbitrary or inflated figure was imposed.’

Providing a breakdown, INEC explained that Nigeria’s National Register of Voters currently contains 93,469,008 registered voters, recorded at 16 voters per page, amounting to 6,018,661 pages. The polling unit data, covering 176,848 polling units nationwide, adds another 4,946 pages, bringing the total to 6,023,607 pages. At the approved rate of ?250 per page – as specified under the Commission’s Guidelines for Processing and Issuance of CTCs derived from Section 15 of the Electoral Act 2022 – the total cost stands at ?1,505,901,750.

INEC stressed that the amount only covers the cost of printing and certification and does not include any other administrative or hidden charges.

‘The figure represents the exact duplication cost. INEC remains committed to transparency, accountability, and the responsible management of public resources,’ the statement concluded.

The Commission’s clarification puts to rest speculations that the electoral body had inflated charges or imposed arbitrary fees on citizens seeking access to public electoral data.

As part of its investment towards the fight against cancer in Nigeria, the Management of LAPO said it had facilitated the screening and referred 495 individuals for further medical examinations.

Honestus Obadiora, Executive Vice President, Health and Social Development, LAPO stated this on Wednesday at the flag of the Organisation’s 2025 Breast Cancer Awareness for the Month of October in Benin City.

Obadiora, who flagged off the free cancers screening programme at Staff Clinic and Uwelu Market Health Post respectively all in Egor Local Government Area of Edo State, said the screened individuals were referred to Government approved health facilities across its targeted communities.

The Executive Vice President, Health and Social Development, LAPO, who was represented by James-Wisdom Abhulimen, Head Corporate Communications, LAPO, said the referred patients were among the 12,422 community members reached through the targeted cancer awareness programme between July and September this year.

He said the awareness programme was designed to educate the public on the risk factors, early warning signs and preventive strategies. ‘These interventions have significantly enhanced the prospects of early diagnosis and effective treatment, thereby reducing the health, economic, and emotional burden that cancer imposes on individuals, families and communities.

‘Our consistent community sensitisation efforts are geared towards promoting positive health-seeking behaviours , encouraging regular medical check-ups, and demystifying the misconceptions surrounding cancer.

‘We are deeply committed to enduring that no one is left behind in the pursuit of good health and well-being’, he said.

Obadiora noted that the LAPO’s Breast Cancer Awareness Month is a vital platform dedicated to promoting health education, early detection, and collective action against one of the most pressing health challenges in the society.

While asserting that Cancer continues to pose a significant public health burden in Nigeria and across the world, he stated that LAPO recognises that the fight against the disease cannot be won by treatment alone, but prevention, awareness, and early detection remain the most powerful tools in saving lives.

The Joint Committee of the House of Representatives investigating the alleged certificate racketeering in higher institutions has called for stiffer penalties for certificate forgery offenders.

In a statement issued by the Chairman, Rep. Abubakar Fulata (APC-Jigawa), after a tour of some Lagos-based higher institutions, the committee called for equal punishment for accomplices of the crime.

The universities visited include the University of Lagos, Yaba College of Technology, Lagos, Caleb University, Lagos and Lagos State University. Fulata recalled that in the past, students studied very well and passed the required examinations before they were awarded degree certificates.

According to him, it is unfortunate that these days people are not ready to study but are only willing to get certificates through illegal ways.

The lawmaker said that the investigation was sequel to the resolution of the House of Representatives on alleged certificate racketeering as revealed by an investigative journalist. ‘Some of us studied very well and passed the required examinations before we were given degree certificates from Nigerian Universities.

‘We cannot fold our hands and watch lazy and fraudulent people destroy the name of Nigerian tertiary institutions of learning. ‘It is unfortunate to see somebody with a degree certificate and had been mobilised for NYSC service but cannot properly write his name let alone defending what he/she claiming to have studied,’ he said.

Fulata said that while certificate forgeries are carried out by fraudulent individuals, the matter becomes worse when management and staff aid the crime.

He advised the management of universities and other higher institutions of learning to improve security features on the certificates for easy verification.

Nigeria’s farmer-herder conflict is often framed as a security crisis. It is also a feed crisis. If cattle had access to reliable, nutritious fodder, roaming would decline, farm damage would reduce, and protein output would rise. New alfalfa trials in Plateau State show a practical path forward, high yields, strong germination, and protein levels that meet international standards, pointing to fodder as a peace and productivity strategy.

‘The success in Plateau State has profound implications for Nigeria’s agricultural future. Alfalfa, a high-quality, climate-resilient fodder, offers multiple benefits that address some of the country’s most pressing food security challenges.’

From conflict to fodder: A new approach

Experts have rightly noted that feed and fodder are the lifeblood of any sustainable livestock production system. Feed alone accounts for over 70 percent of production costs in animal agriculture and is a key factor in the recurring farmer-herder clashes. Ensuring affordable feed has crossed over from being an economic issue into a matter of national security. This is where alfalfa (Medicago sativa) comes in as a potential game-changer.

Meet Alfalfa: The ‘Green Gold’ of livestock feed

Alfalfa, also known as lucerne, is often called the ‘queen of forages’ globally, and for good reason. It is a perennial legume rich in protein, vitamins, and minerals, making it one of the most nutrient-dense animal feed crops in the world.

In countries like the United States, Argentina, and Sudan, alfalfa is widely cultivated as high-quality hay and silage for dairy and beef cattle. Per Wikipedia, alfalfa is, in fact, the most cultivated forage legume worldwide, with over 30 million hectares grown and roughly 436 million tonnes produced annually. This ‘green gold’ improves livestock weight gain, milk yield, and overall productivity. It also enriches the soil by fixing nitrogen and preventing erosion, a bonus for sustainable farming.

Despite its global prominence, alfalfa has been virtually absent from Nigeria’s agricultural landscape – until now. Historically, livestock farmers have relied on natural grasses and crop residues, which are seasonal and nutritionally inadequate. Alfalfa offers a superior alternative: it can be cut multiple times a year, yielding large volumes of protein-rich fodder. Trials elsewhere in Africa show promise. For example, Sudan and South Africa have become leading producers, leveraging irrigation and dry-season cultivation to export alfalfa hay to the Middle East. If these countries can turn fodder into export earnings, why shouldn’t Nigeria harness alfalfa to feed its own animals and even generate revenue?

A breakthrough in Plateau State

Sceptics might wonder if a temperate-climate crop like alfalfa can grow in Nigeria’s environment. Recent evidence emphatically says yes. In May 2025, a public-private partnership in Plateau State – led by The Alternative Bank and Plateau State University – unveiled a landmark alfalfa cultivation project that has yielded stunning results. Planted in the cooler ‘near-temperate’ climate of Bokkos, Plateau, alfalfa seeds imported from Kenya thrived in local soil.

Germination rates exceeded 85 percent in two weeks, and plants reached 66.5 cm in just 13 weeks, matching global growth benchmarks. Under rain-fed conditions, the trial plots are projecting annual yields of 18 to 20 tonnes per hectare, at par with what farmers get in the Americas and Europe. Laboratory tests indicate the crop’s protein content will meet international standards, meaning Nigerian-grown alfalfa is just as nutritious as imported feed.

The Alternative Bank’s CEO, Hassan Yusuf, described the achievement as a breakthrough moment, declaring that alfalfa can redefine livestock farming and secure Nigeria’s food future. At a field day showcasing the trials, herders, farmers, students, and government officials watched cattle eagerly feed on the lush alfalfa plots – a vivid demonstration of its palatability. The Plateau State Commissioner for Agriculture hailed the project and signalled plans to expand cultivation to all 17 local government areas as part of a strategy to unlock the livestock value chain. Local herders also expressed gratitude and pledged support, seeing in this crop a hope for harmonious coexistence. Why Alfalfa matters for Nigeria’s food security

The success in Plateau State has profound implications for Nigeria’s agricultural future. Alfalfa, a high-quality, climate-resilient fodder, offers multiple benefits that address some of the country’s most pressing food security challenges. By providing reliable feed, alfalfa can be a practical solution to the herder-farmer conflicts, mitigate the need for pastoralists to roam, and foster collaboration between herders and crop farmers. This could pave the way for more settled livestock production and greater food security. Richard Mark Mbaram, Special Adviser on Knowledge Management and Communication to the Federal Ministry of Livestock Development, stated, ‘This isn’t just about growing grass. It’s about securing our food systems, reducing conflict, and giving pastoralists and farmers new tools for climate resilience.’

Farmers who feed alfalfa report better fertility and higher market value for their livestock, which could reduce the feed costs that currently dominate farming expenses. This would make livestock farming more profitable and help lower the cost of dairy and meat production, making these products more affordable for consumers. Scaling up: What will it take?

Adopting alfalfa nationwide will not be without challenges. Its cultivation must be adapted to suitable climates, starting with the Plateau and other elevated regions, while research continues into heat-tolerant varieties. Researchers like Dr Hosea Finangwai, of Plateau State University, caution that alfalfa is ‘a temperate plant’, which is why seeds were sourced from Kenya and tested in Plateau’s cooler environment. Earlier attempts to grow alfalfa in parts of the country failed due to unfavourable climate. This means we need to identify other microclimates or seasons in Nigeria where alfalfa can thrive and possibly develop or import tropicalised alfalfa varieties that can handle heat and humidity.

Areas in the north with cooler dry seasons, or elevations like Mambilla Plateau, could be candidates. Research institutions and universities should be funded, taking a cue from the model adopted by The Alternative Bank to conduct adaptability trials across regions.

Right now, virtually all alfalfa seed in Nigeria is imported and expensive. To scale up, we must establish a local seed multiplication programme.

Building a robust alfalfa seed system, from certified seed production to distribution, is critical. The government can encourage this by fast-tracking the registration of alfalfa as an official pasture crop (interestingly, recent efforts registered eight other forages but not yet alfalfa).

It is heartening that Nigeria’s Federal Ministry of Livestock Development is formulating a National Animal Feed and Fodder Policy. That policy should explicitly incorporate crops like alfalfa and set targets for fodder production across the federation. Government support could include land allocation for pasture development, soft loans or grants for fodder farmers, and smart subsidies (for example, seed subsidies or guaranteed buy-back schemes). States, especially those plagued by herder-farmer crises, should follow suit. In the South-West, where herder incursions have recently put 40 percent of the region’s food production at risk, state governments and regional bodies are now discussing the establishment of modern ranches.

This must go hand-in-hand with growing fodder like alfalfa on a large scale.

Perhaps the most encouraging aspect of the Plateau alfalfa project was the involvement of an ‘ethical’ non-interest bank as a key driver. The Alternative Bank’s role shows how innovative financing models can unlock agricultural potential. By using profit-sharing and impact-focused investment, the Bank could fund a project many commercial lenders would shy away from. This model, where financial institutions work closely with researchers and farmers, is worth replicating. We need more agritech startups, agribusiness companies, and financial institutions to see fodder as the next frontier. Public-private partnerships (PPPs) can establish seed farms, mechanised hay baling facilities, and feed mills. The recently launched Feed-Fodder-Livestock Investment Deal Room, facilitated by Nigeria’s feed and fodder stakeholders in collaboration with Sterling Bank, is a step in the right direction. It has already attracted investors for large-scale projects, such as a 1,000-hectare fodder farm in Benue State. This momentum must be sustained.

Time to make that move

The time to act is now. As Nigeria grapples with food insecurity, the clock is ticking, and the solution lies in how we address the root causes: the scarcity of quality livestock feed and the conflict it breeds. The adoption of alfalfa as a sustainable fodder crop offers a powerful tool for transforming the nation’s agricultural landscape. But transformation requires bold steps from all sectors: government, private enterprises, and farmers alike.

This is the moment to embrace innovation and actively invest in long-term solutions. The Alternative Bank, through its groundbreaking partnership with Plateau State University, has demonstrated the immense potential of alfalfa to solve not just an agricultural problem but a national security issue.

From policymakers who must adopt forward-thinking policies to investors and agribusiness leaders who can fund the cultivation and scaling of alfalfa, everyone has a role to play. The government can lead with progressive policies and provide necessary subsidies, while financial institutions like The Alternative Bank can innovate financing solutions that make it easier for farmers to transition to fodder cultivation.

Similarly, farmers must embrace new technologies and cultivate this green gold for the future of their livelihoods and the nation’s prosperity.

Now is the time to make that move. By investing in alfalfa, Nigeria can finally end the vicious cycle of conflicts, boost agricultural productivity, and set the foundation for a secure, sustainable food future. In short, the seeds of change are already planted, but it is up to us all to nurture them and harvest the promise they offer.

No single crop is a silver bullet, of course. Alfalfa will not miraculously solve all of Nigeria’s agricultural woes. However, its recent introduction has shown what is possible with vision and collaboration. The Plateau State pilot transformed sceptical local farmers into curious experimenters ready to give this ‘magic’ plant a try. It turned herders who were once at odds with farmers into partners gathered around the same demo plot, hopeful for a future where cows stay fat without communities going hungry. This is the kind of change we need at scale.

CardinalStone Group has reaffirmed its leadership in Nigeria’s financial services industry, clinching two top honours at the 2025 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

CardinalStone Trustees Limited earned the award for ‘Best in Private Wealth and Trust Services,’ while CardinalStone Registrars Limited was named ‘Shareowner Services and Solutions Company of the Year.’

These accolades underscore CardinalStone’s unwavering commitment to excellence, innovation, and trusted partnership across its service lines.

Speaking on the recognition, Ereifemi Akeredolu, Managing Director, CardinalStone Trustees Limited, said:

‘This award is a reflection of our clients’ trust and the hard work of our exceptional team. At CardinalStone Trustees, we are passionate about creating secure and innovative wealth management solutions that safeguard our clients’ legacies for generations. This recognition strengthens our resolve to keep delivering with integrity and excellence.’

Similarly, Chinonso Okurume, Chief Business Strategist, CardinalStone Registrars Limited, remarked:

‘We are honoured to receive this prestigious award, which validates our continuous investment in technology, people, and client experience. Our goal has always been to redefine share registration and investor services in Nigeria by offering seamless, transparent, and tech-driven solutions – and this recognition inspires us to keep pushing boundaries.’

Now in its 13th year, the BusinessDay BAFI Awards celebrate outstanding performance and leadership in Nigeria’s financial services sector, spotlighting institutions that exemplify professionalism, impact, and innovation.

CardinalStone Trustees continues to set the benchmark in private wealth management, estate planning, and trust administration, empowering clients with tailored strategies for asset protection and succession. Similarly, CardinalStone Registrars remains a trusted partner in share registration, corporate actions, and digital investor solutions, leveraging technology to enhance transparency and service delivery.

These recognitions further reinforce CardinalStone’s position as a trusted name in Nigeria’s financial ecosystem-one driven by innovation, trust, and excellence.

About CardinalStone

CardinalStone is a leading financial institution operating in Nigeria, offering a comprehensive range of services across Investment Banking, Asset Management, Securities trading, Trust services, Financing, Registrar services and Pensions. Committed to excellence, innovation, and client satisfaction, CardinalStone is dedicated to empowering individuals and businesses to achieve their financial goals.