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Nigeria and China are set to consolidate their fast-rising bilateral trade relations, which have already crossed $20 billion annually in the last years, through the 2025 edition of the China Commodities Expo-Nigeria (CCE).

The annual Expo, scheduled to be held from November 5 to 7 in Lagos, is expected to host over 250 Chinese manufacturers and more than 5,000 Nigerian and international business representatives.

CCE is organised by the Trade Development Bureau of China’s Ministry of Commerce in collaboration with Brightway International Exhibition.

Speaking on the significance of the event, Muheez Ojulari, Chief Representative Officer of Brightway International Exhibition, said the Expo was designed to consolidate the upward trend in bilateral trade.

‘This Expo is not just about trade, it is about building bridges of opportunity that connect Nigerian entrepreneurs with global supply chains. We want Nigerian firms to walk away not only with contracts, but with long-term partnerships that can strengthen their competitiveness at home and abroad,’ he said.

The Expo comes at a time when bilateral trade between the nations is witnessing robust growth. According to Chinese customs data, trade volumes between Nigeria and China reached $23.9 billion in 2022, with China exporting $22.3 billion worth of goods to Nigeria while importing $1.6 billion. In the first three quarters of 2023, trade hit $17.25 billion, boosted by a 22.5 percent rise in Chinese imports from Nigeria.

By 2024, volumes again surpassed $20 billion, while in the first seven months of 2025 alone, bilateral trade climbed to $15.48 billion, a 34.7 percent year-on-year increase, positioning Nigeria as China’s second-largest trading partner in Africa.

Since its inception in 2007, the annual CCE has grown into one of Nigeria’s largest trade events, supported by key Nigerian chambers of commerce, trade associations, and ministries at both state and federal levels. It is expected to draw importers, exporters, industry captains, government officials, and entrepreneurs from across Africa.

China’s investment footprint in Nigeria continues to deepen, with more than $1.5 billion committed to zones such as the Lekki Free Trade Zone and Ogun-Guangdong Free Trade Zone, generating over 7,000 jobs. Beyond trade, the Expo is also targeting youth-focused entrepreneurship by linking Nigerian startups and SMEs with Chinese venture capital and technology partners.

Ojulari said, ‘This Expo matters because it gives Nigerian firms direct visibility before Chinese manufacturers who control global supply chains. It’s a chance to negotiate better terms, secure financing, and diversify our exports.’

With Nigeria-China trade already on a strong growth trajectory, the 2025 Expo is poised to serve as a critical platform to sustain momentum, unlock investment opportunities, and deepen bilateral economic relations.

Goodluck Jonathan, former President has disclosed that he had hoped Muhammadu Buhari, Nigeria’s immediate past president, would be able to solve Nigeria’s Boko Haram insurgency problem since he was once nominated by the group to represent them in peace talks with the federal government during his administration’s search for a negotiated settlement.

Jonathan made the revelation on Friday at the public presentation of Scars: Nigeria’s Journey and the Boko Haram Conundrum, authored by former Chief of Defence Staff, General Lucky Irabor (rtd), held at the Transcorp Hilton Hotel in Abuja.

‘One of the major scars on my government is the scar of the Chibok girls. It is a scar that will die with me.

‘During one of the processes we initiated for dialogue, the insurgents put forward Buhari to lead their team to negotiate with government’, Jonathan said.

The former president explained that he had hoped Buhari’s later emergence as president would ease the path to dialogue and a possible surrender. ‘But the insurgency still persisted,’ he lamented, describing the crisis as ‘far more complex than often presented.’

Jonathan recalled that as vice president under the late President Umaru Musa Yar’Adua, he had witnessed the success of dialogue and amnesty in resolving militancy in the Niger Delta.

However, he admitted Boko Haram proved more complicated, with external involvement suspected in the flow of sophisticated arms and ammunition into Nigeria.

‘The issue of carrots and the stick may be adopted,’ Jonathan suggested, adding that his administration had explored multiple committees and approaches.

‘If it was just about hunger, it would have been easy to solve. Boko Haram is beyond that’, he added.

On the Chibok girls abducted in 2014, Jonathan said the tragedy left a permanent mark on his administration.

‘No plastic or cosmetic surgery can remove it,’ he said, adding that he still hopes one day Boko Haram leaders will document their motivations and actions to help Nigerians understand the group’s origins.

President Bola Tinubu, represented by Mohammed Abubakar, the Minister of Defence, pledged that his administration would not relent until insecurity is defeated across Nigeria.

He described Irabor’s book as ‘not only history, but guidance for the present and a roadmap for the future,’ stressing the need for collective effort to restore peace. Former President Olusegun Obasanjo, who chaired the event, said insecurity had evolved from insurgency in the Northeast to banditry, kidnapping, and other violent crimes across the country.

Drawing from his 2011 visit to Maiduguri after the UN building bombing, he argued that Boko Haram’s roots lay more in socio-economic grievances than religion or politics.

‘We cannot continue this way,’ Obasanjo warned, urging those with inside knowledge of the group’s early years to write books or speak up.

Babagana Monguno, former National Security Adviser, described Scars as ‘apt’ and called for national re-engineering to address issues of power struggles, resource allocation, and ethnic mistrust, which he said fuel insecurity.

He lamented Nigeria’s lack of cohesion and warned that ‘you can never address insecurity in as much as there is impaired national cohesion.’

Matthew Kukah, Book reviewer, said Boko Haram is more of an ideological war than a military one, adding that ‘all the military operations with different code names have not ended the insurgency.’

He stressed the need for ‘soft power’ approaches such as good governance, reconciliation, and civic engagement.

‘The urgency is not about more guns but about building a ‘war room’ where military and intelligence leaders think ahead about tomorrow,’ Kukah argued.

Sa’ad Abubakar III, Sultan of Sokoto, reinforced the call for tolerance, stressing that Islam advocates good governance and not extremism.

He condemned the misuse of ‘jihad’ as justification for violence.

Lucky Irabor, author of the book, said Scars was written to focus national attention on credible solutions to insecurity.

‘This is not an indictment. It is a national soul-searching presentation. I have always believed man exists to solve problems, and this book is my contribution to that effort’, he emphasized.

He urged Nigerians to recommit to building a nation anchored on justice, equity, and peace.

The event was attended by dignitaries including Christopher Musa, Chief of Defence Staff, former Service Chiefs General Alexander Ogomudia and Vice ,

Atiku Bagudu, Minister of Budget and Planning.

Others who spoke at the event, acknowledged the devastating impact of Boko Haram since 2009 and called for innovative strategies to finally end a menace that has outlived four administrations.

The boardroom was silent as the project update wrapped up. The leader had spoken with confidence, charts were polished, and strategies were neatly outlined. But everyone in the room knew the reality: the numbers didn’t add up. The missing voice wasn’t leadership; it was followership. No one wanted to be the person to puncture optimism. Fear of being dismissed, labelled, or sidelined kept lips sealed. The plan moved forward, the project derailed, and the cost was millions. At its heart, the breakdown wasn’t just in strategy but in trust.

Trust, or the absence of it, is the invisible currency of organisations. Leaders may design the vision, but followers decide whether that vision lives or dies by their willingness to engage, challenge, and commit. And followers, in turn, only bring their full selves when trust makes it safe to do so. Without trust, followers retreat into silence, leaders double down on control, and organisations bleed creativity.

‘Without trust, followers retreat into silence, leaders double down on control, and organisations bleed creativity.’

The conversation around leadership has always been obsessed with authority, charisma, and strategy. Yet the overlooked truth is this: trust is the glue that makes followership work. When followers trust their leaders, they contribute boldly. When leaders trust their followers, they grant space to influence outcomes. In fact, the strength of any organisation rests not on individual brilliance but on the mutual trust between those who lead and those who follow.

A 2024 Deloitte study found that 79 percent of employees who strongly trust their leaders are more engaged, productive, and willing to innovate. Conversely, in workplaces where trust is fragile, turnover increases by nearly 40 percent. The research is clear: trust isn’t a nice-to-have; it’s the engine of performance. But here’s the nuance often missed: trust doesn’t just flow downward from leaders to followers. It flows upward and sideways, too. Followers, through their integrity, accountability, and courage, earn and extend trust just as much as leaders do.

The art of followership is, therefore, inseparable from the practice of trust. Courageous followers do not confuse silence with loyalty. They speak truthfully, but they also do so responsibly, to advance collective success rather than vent frustration. They hold themselves accountable, delivering not only on tasks but also on the unspoken commitment to strengthen the social contract of trust in their teams. And they amplify peers, reinforcing a culture where trust is shared rather than hoarded.

Consider the subtle but powerful difference between two employees. One notices a flaw in a rollout plan but says nothing until the mistake surfaces. The other raises it in the meeting, framing it as a contribution to success: ‘I see a potential gap here; how might we address it before it becomes a problem?’ The first employee protects themself but erodes trust. The second risk is discomfort but it builds the team’s confidence in collective honesty. Trust grows when followers practise this kind of courage.

Of course, trust is fragile. Followers often wonder: What if my leader retaliates? What if speaking up costs me opportunities? These are valid fears. But the paradox is that this trust cannot exist without risk. To follow well is to invest in trust even when outcomes aren’t guaranteed. And when multiple followers model this courage consistently, they create a climate where leaders are compelled to reciprocate.

So, what does it look like to practise followership through the lens of trust? It looks like reframing your voice as a contribution rather than a confrontation. It looks like stepping into the initiative rather than waiting passively for permission. It looks like building coalitions of peer courage so that truth-telling is shared, not isolated. Above all, it looks like aligning actions with integrity so that your presence adds weight to the culture rather than subtracts from it.

Here are questions worth pausing over: Do I withhold my perspective out of fear, and in doing so weaken the trust my team needs? Do I treat my leader’s shortcomings as reasons for withdrawal or as opportunities to engage constructively? When colleagues speak truth, do I add my voice in solidarity or quietly watch from the sidelines? And perhaps most uncomfortably: am I trustworthy myself in the way I handle responsibility, honesty, and accountability?

This week, I challenge you to practise one deliberate act of trust-building as a follower. Speak up with honesty in a meeting where silence feels easier. Take ownership of a task without waiting for direction. Or affirm a colleague who risks candour, so their courage doesn’t echo in a vacuum.

Because here’s the truth: leadership without followership is empty, and followership without trust is impossible. The future of work will not be defined by charismatic leaders alone but by brave followers who choose to trust, engage, and act with integrity. Trust is not given; it is built. And every follower holds the power to shape it.

In the end, leaders may set the direction, but it is trust cultivated daily by those who follow that determines whether organisations merely move or truly soar.

Abdul-Azeez Olajide Adediran, better known as Jandor, says President Bola Tinubu will face no serious challenge in the 2027 presidential election, while also confirming that he will once again contest the governorship of Lagos State.

Speaking on Channels Television’s Politics Today on Thursday, the former Lagos PDP governorship candidate, who recently returned to the All Progressives Congress (APC), said Tinubu’s political influence had grown stronger since 2023, making another upset unlikely.

‘In 2023, Jandor and his Lagos for Lagos movement were outside, but now we are back inside. So, it won’t be the same thing you witnessed in 2023,’ he said. According to him, the president’s hold on politics has gone beyond Lagos. ‘2027, not only in Lagos but in the entire country, is going to be a walkover for the man whose courage has given us a lot in this country today,’ Jandor added.

Jandor had left the APC in 2022 to run under the Peoples Democratic Party (PDP) in Lagos. He came third in the March 2023 governorship election behind incumbent Governor Babajide Sanwo-Olu of the APC and Labour Party’s Gbadebo Rhodes-Vivour. But in March this year, he made a surprise return to the ruling APC, saying the party was better positioned to win elections regardless of the candidate. His defection ended months of speculation about his next political move after his defeat in 2023.

Now firmly back in the APC fold, Jandor has wasted no time in declaring his interest in contesting the 2027 Lagos governorship election. ‘What you heard yesterday is for us once again to express our can-do ability and give another shot to the same seat that we went for during the last electioneering process,’ he said. ‘There is no vacancy in Aso Rock till 2031. If not, maybe the next thing would have been me running for president. For now, the focus is on Lagos, and I have so declared my intention to run again.’

Jandor’s declaration is already setting the stage for what may become another heated Lagos governorship contest. His renewed loyalty to the APC also puts him in a complex position, competing for the ticket in a party dominated by the political machinery of President Tinubu. But Jandor insists he is not worried. Instead, he has openly welcomed the idea of competing against Tinubu’s son, Seyi, should the younger Tinubu enter the race for governor. ‘He is eminently qualified to run,’ Jandor said. ‘And if the party gives him the ticket, I will give him my full support.’ For political watchers, Jandor’s confidence about Tinubu’s re-election chances in 2027 is not just about loyalty but also strategy. By aligning himself closely with the president, he positions himself as a loyal APC member who can be trusted with the party’s ticket in Lagos. Tinubu, who lost Lagos to Peter Obi of the Labour Party in the presidential election last year, is widely expected to strengthen his political base ahead of 2027. Jandor seems certain that history will not repeat itself. ‘In 2023, the opposition had unusual strength. But now, things are different. The president has consolidated, and I believe it will be a landslide in 2027,’ Jandor declared.

Jandor’s first gubernatorial run was marked by high expectations. Backed by the ‘Lagos for Lagos’ movement, he promised to break the APC’s dominance in the state. But his inability to galvanise enough votes left him far behind Sanwo-Olu and Rhodes-Vivour. After the elections, analysts said his defection from APC to PDP may have weakened his grassroots ties, while the Labour Party’s rise in Lagos further squeezed his chances. Now, by returning to APC, Jandor is effectively betting on the ruling party’s structure to give him a second shot.

Even though the 2027 elections are still nearly two years away, the battle for the APC’s Lagos governorship ticket promises to be intense. Party insiders say Jandor’s chances will depend not just on his popularity but also on how much trust he can rebuild with Tinubu’s loyalists, who once viewed him as a defector. But Jandor appears prepared for the long haul. ‘We are keeping our eyes on the ball, doing the needful, and galvanising support for the party across the state,’ he said. Political analysts believe his willingness to back whoever emerges as the APC’s candidate could help him avoid being sidelined, even if he loses the ticket.

For Jandor, aligning with Tinubu and the APC’s political machinery could either pave the way for his ambition or keep him in the shadow of more powerful figures within the party. Still, he maintains that his focus is clear: ‘For Jandor, I am running in 2027, and I have so declared.’

With this, Lagos politics looks set for another round of drama-where loyalty, strategy, and the shadow of Tinubu will once again define who sits in the seat of power at Alausa.

Maruf Tunji Alausa, minister of education has reaffirmed Nigeria’s commitment to aligning education with labour market realities.

He noted this during a side event in New York themed: ‘Skills-to-Jobs: Strengthening Nigeria’s workforce systems for economic growth’ which was geared towards reaffirming Nigeria’s leadership in global workforce and education transformation.

‘Our vision is to ensure that every Nigerian learner is not only acquiring knowledge but also future-ready skills that unlock decent work opportunities. By strengthening the connection between classrooms and careers, we are laying the foundation for inclusive growth and national prosperity,’ Alausa said.

The side event was organised by the Federal Ministry of Labour and Employment (FMLE) in partnership with the National Identity Management Commission (NIMC), Tech4Dev, Semicolon Africa, and Avaara Partners, the high-level gathering convened policymakers, private sector leaders, development partners, and innovators to showcase Nigeria’s bold steps in linking education, skills, and employment for sustainable growth.

65% of Nigerian employers cite skills gap as a barrier to organisational transformation

Nkeiruka Onyejeocha, minister of State for Labour and Employment, also emphasised the government’s determination to deliver systemic workforce reform.

‘The future of work demands bold action. Our ministry, is investing in systems that prepare young Nigerians for the jobs of tomorrow, building bridges between skills providers, employers, and industries to ensure that no talent is left behind,’ she stated.

The first high-level panel explored policy reforms, digital infrastructure, and opportunities in the creative and green economy.

The key contributors included Rimamskeb Nuhu, special assistant to the vice president on Strategy and Policy, Moriam Ajaga, special adviser to the president on Art and Culture, Barr. Ismaeel Ahmed, executive chairman, Presidential CNG Initiative, Olumbe Akinkugbe, executive director, Galaxy Backbone and Sam Immanuel, CEO, Semicolon Africa.

A second panel examined skill-to-job linkages with insights from Rosy Fynn, country director, Mastercard Foundation Nigeria, Victoria Strokov, program manager, Partnership for Economic Inclusion at HSPGE), Oladiwura Oladepo, executive director, Tech4Dev and Sanyade Okoli, special adviser to the President on Finance and the Economy. Okoli stressed that reforms must translate into livelihoods, noting,

‘Finance must show up on payslips, not just in statistics. That is why we are linking innovation, credit, and social protection directly to employment outcomes so that every investment fuels opportunities for young Nigerians.

The event featured an interactive dialogue featuring youth voices, development partners, and private sector leaders. Discussions reinforced Nigeria’s commitment to closing the training-to-employment gap, strengthening cross-sector partnerships, and advancing reforms under the Renewed Hope Agenda.

By aligning education, skills development, and labour policies, Nigeria is not only positioning its youth for the jobs of tomorrow but also cementing its influence in shaping the global future of work.

The Nigerian private sector closed the third quarter of 2025 on a strong note, with business activity expanding for the tenth consecutive month, even as the pace of expansion slowed from the previous month.

According to the latest Stanbic IBTC Bank Purchasing Managers’ Index (PMI), the headline PMI posted 53.4 in September, slightly below August’s 54.2, but still firmly above the 50.0 benchmark that signals expansion.

‘Growth was supported by a surge in new orders, driven by improved customer demand and the launch of new products. Although the rate of expansion eased to a three-month low, business activity recorded a sharp increase across all four broad sectors. Firms responded by raising output, expanding operating capacity, and boosting purchasing activity,’ the report disclosed.

Muyiwa Oni, head of equity research, West Africa at Stanbic IBTC Bank, said Nigeria’s business conditions ended the quarter on a strong note, although the pace of strengthening moderated relative to August. Specifically, the headline PMI settled at 53.4 points in September from 54.2 in August, buoyed by improvement in output and new orders, while inflationary pressures also continued to soften.

‘The rate of expansion in output, at 56.1 points compared with 56.8 in August, remained strong despite easing slightly, supported by better material availability and rising customer demand. New orders, at 55.4 points, stayed well above the growth threshold for the 11th consecutive month, though at a slower pace than August’s 58.3 points,’ he added. The PMI figures align with the broader economy, which grew by 4.23 per cent year-on-year in Q2 2025, compared with 3.13 per cent in Q1, bringing first-half growth to 3.69 per cent. Oni said.

He added that ‘Agriculture and oil were the strongest drivers, expanding by 2.82 percent and 20.46 percent, respectively, and jointly contributing 35.6 percent of real GDP growth. Non-oil sectors such as ICT, finance and insurance, real estate, and trade also recorded positive gains.’

The PMI report hinted that Stanbic IBTC projects sustained growth into 2026, supported by a likely reduction in interest rates, lower inflation, and reduced exchange rate volatility.

The bank expects oil and non-oil sectors to grow by 14.3 per cent and 4.4 per cent year-on-year, respectively, in Q3 2025, translating into overall GDP growth of 4.5 per cent.

The latest in the line of foreign shipping companies to sail vessels powered by alternative energy into Nigeria’s seaports is Gold Star Line, which berths its first liquefied natural gas (LNG)-powered containership, the MV Sapphire, at APM Terminals in Apapa, Lagos.

The vessel, built in 2024, sails under the flag of Singapore, with a capacity of 7,800 twenty-foot equivalent units (TEUs).

Todd Rives, managing director of Lagos and Niger Shipping Agency Limited (LANSAL), which represents Gold Star Line in Nigeria, said the arrival of the MV Sapphire is part of efforts to reduce voyage costs, promote operational efficiency, and reinforce environmental sustainability.

The Gold Star Line, incorporated in 1958, is one of the oldest shipping agencies operating in Nigeria. Rives said the vessel starts off a new era in Nigerian maritime trade, with an expectation that sister ships would also call at the port in the near future.

Kayode Daniel, commercial manager of APM Terminals Apapa, explained that shipping lines globally are working together to reduce emissions, in line with international sustainability targets, appreciating LANSAL for deploying LNG-powered vessels in support of the United Nations Sustainable Development Goals.

Adebowale Lawal, the port manager of the Lagos Port Complex Apapa, said that LNG vessels are critical in addressing the challenges of climate change, while at the same time reducing costs and driving economies of scale. He assured stakeholders that of the Nigerian Ports Authority’s full involvement in the development.

The arrival of the MV Sapphire comes just months after Apapa welcomed its first LNG-powered vessel, the Kota Oasis, a 260-metre containership with a gross tonnage of 77,850.

Liquefied Petroleum Gas (LPG), popularly known as cooking gas, prices have continued to climb across Nigeria, leaving many households frustrated, BusinessDay’s checks revealed.

According to the survey, the prices of cooking gas have gone as high as N3200 per kilogramme in parts of the country. Indicating a 100 percent increase from the N1600 per kg recorded three days ago.

Earlier, BusinessDay reported that cooking gas prices had already risen by 33 percent in key cities, forcing families to ration consumption.

This is coming days after the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) suspended its strike against Dangote Petroleum Refinery.

The industrial action, which disrupted gas supply chains and triggered a spike in costs, was officially called off earlier this week following government intervention.

However, prices of Liquefied Petroleum Gas (LPG) remain elevated, with checks showing wide disparities depending on location.

In Lagos, residents reported sharp increases. Ahmed said gas now sells for N1,600 per kilogramme in Orile, while Oyin noted prices had climbed to N2,000 in Ikorodu.

Fadeke Popoola, who lives in Sabo Yaba, close to the University of Lagos, said she paid N3,200 per kilogramme of cooking gas, more than double the price from just weeks ago.

Across the country, a 12.5kg cylinder now retails for between N16,500 and N18,000, up from N12,750 barely a week ago, according to market checks and data. The unrelenting surge has sparked outrage online, with many lamenting how the crisis is squeezing household budgets.

‘If you see anyone selling cooking gas as a means of livelihood, hug them and press money in their palms. The price of LNG has risen and it’s difficult to even get to buy. Which kain country be this? No gas and no sales,’ wrote @Macazeee on X.

Another user, @Zoyablooms, posted, ‘I truly hate being Nigerian. Cooking gas being scarce is not okay. This place makes me sick.’

@_realkingsley also shared a photo of a queue in Sabo, Ikorodu, asking, ‘Cooking gas scarcity. No gas in my area. Again I ask, is the Dangote vs PENGASSAN war touching Nigerians already?’

@Azizolurhemmy added, ‘Please, how much is cooking gas in your area? This price I am hearing is like they want to sell the gas plant to me.’

Despite the truce, industry stakeholders say supply remains constrained.

Olatunbosun Oladapo, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), told newsmen that the strike crippled gas plant operations, especially in the southwest.

‘Dangote, our major supplier in terms of availability and affordability of the product, is yet to release loading invoices to our members who have pending products with the company for more than three weeks, forcing marketers to buy from other competitors at a high rate,’ he said.

Other suppliers reportedly took advantage of the supply gaps to increase their prices, compounding the situation for retailers and consumers.

Ellah Lakes Plc has announced an agreement to acquire Agro-Allied Resources and Processing Nigeria Limited (ARPN). The transaction is expected to significantly expand its palm oil production footprint.

The agro-industrial company which has turned its focus to the oil palm industry disclosed this on October 3 in a corporate disclosure. According to the release, the acquisition involves taking over 100 percent of ARPN from ARPN PTE Ltd, a Singapore-based entity jointly owned by Tolaram Africa and Valuestar Holdings.

The deal follows shareholder approval at Ellah Lakes’ Extraordinary General Meeting in July to raise N250 billion through equity offerings. This deal is expected to give the company control of 11,783 hectares of cultivated land, including 6,280 hectares of oil palm plantations and 2,093 hectares of cassava plantations. It also covers an additional 10,393 hectares of uncultivated land.

According to the release, the age profile of the plantations positions the company for sustained output. It noted that 60 percent of the oil palms are in peak productivity, 30 percent between two and four years, and the remainder under two years.

According to the company, the acquisition will immediately boost its scale and processing capacity. it will also unlock long-term growth opportunities in crop diversification and vertical integration. The transaction is, however, subject to regulatory clearance from the Federal Competition and Consumer Protection Commission (FCCPC), with completion targeted for December 2025.

Chuka Mordi, Chief Executive Officer of Ellah Lakes, described the deal as ‘a defining step’ in the company’s transformation journey.

‘This acquisition will more than double our production footprint, accelerate earnings growth, and position us as a national champion in agro-industrial production,’ Mordi said. ‘We are excited about the immediate and long-term value this transaction will deliver to our shareholders and to Nigeria’s broader food security objectives.’

The company has been actively pursuing growth opportunities this year. In July, its shareholders voted in favour of a planned N250 billion capital raise. According to the management, the raise is needed to strengthen Ellah Lakes’ balance sheet and provide the funding capacity needed to execute its expansion strategy.

If successful, the equity raise and ARPN acquisition will place Ellah Lakes in a stronger position to compete in Nigeria’s food and agro-processing industry.

The ECOWAS Bank for Investment and Development (EBID) has approved $308.631 million to finance clean energy, industrial development, and sustainable growth projects across the West African region.

The approval came during the bank’s 93rd Ordinary Session held at its headquarters in Lomé, Togo.

George Donkor, President and Chairman of the Board of Directors of EBID, said the financing would strengthen regional integration and promote economic diversification in line with the bank’s mandate to drive sustainable development across the Economic Community of West African States (ECOWAS).

A significant portion of the financing is earmarked for Nigeria, as the bank approved $98.18 million for the construction of a 50 MW Solar Photovoltaic Power Plant in Taraba State. The project, according to Donkor, is expected to expand access to reliable, clean electricity, reduce energy poverty, and promote environmental sustainability.

According to EBID, the facility will directly provide electricity to about 390,000 people, enhance power supply for more than 200 public institutions, create 400 direct jobs during construction, and provide 50 permanent roles once operational.

In addition, between 1,200 and 1,500 indirect jobs are expected to be generated through supply chains, maintenance services, and small-scale enterprises. The bank also approved $79.219 million for a modern rice processing complex and a 10,000-hectare irrigated rice production unit, also located in Taraba State.

The project aims to support food security, increase local production capacity, and create new opportunities for agribusiness in Nigeria.

In further support of industrialisation, EBID approved $91.232 million for the establishment of the Taraba State Industrial Park. The park is designed as an integrated industrial ecosystem that will accelerate local manufacturing, enhance value addition, and support economic diversification.

The bank also allocated $40 million to Vista Bank in Guinea to strengthen trade-related activities, including import-export operations and commercial value chains.

Donkor stressed that the financing decisions demonstrate EBID’s commitment to fostering strategic partnerships with both public and private sector stakeholders, while aligning with broader regional priorities for clean energy adoption, agricultural development, and industrial growth.

‘These projects will not only transform the economic landscape of our member states but also uplift communities by creating jobs, improving energy access, and enhancing regional competitiveness,’ he said.