Business
Abia Govt to resuscitate cocoa processing industry
The Abia Government says it will resucitate the state-owned cocoa processing industry to boost production of the commodity and enhance economic fortunes of the State.
The Vanguard reported that the State Deputy Governor, Mr. Ikechukwu Emetu, announced this on Tuesday during a meeting with the members of the State Cocoa Transformation Committe in Umuahia.
He said that Nigeria was the largest exporter of cocoa after Cote D’Ivoire, hence the state government was poised to explore the entire value chain in the production and processing of the commodity.
He added that government would provide funding and training for cocoa farmers to adopt improved ways of farming to boost production of the produce.
“We are determined to make Abia State one of the largest producers of cocoa in Nigeria,” he said.
Emetu said that the meeting was to acquaint the farmers with government’s policy thrust on cocoa production and as well remind them of the imperatives of cocoa production.
He explained that cocoa production contributed towards enhancing food security, good nutrition, organic fertilisers, raw materials for industries and served as a source of foreign exchange.
The deputy governor expressed displeasure over the leasing out of Agbozu Cocoa Estate, a government- owned property, in Uzuakoli, Bende Local Government Area of the State.
He directed the Permanent Secretary, Ministry of Agriculture, Mr. Okey Ihedioha, to furnish him with the lease agreement for further necessary action.
In his remarks, Ihedioha said that the state was blessed with cocoa producing belts in areas such as Ibere community in Ikwuano LGA and Itumbuzo community in Bende LGA.
He said that with encouragement and adequate support from the government, the state would record improved cocoa production.
Mr. John Kalu, the State Chairman of the Cocoa Farmers Association, said that Abia was ranked 8th among cocoa producing states which created room for improvement.
Kalu urged the government to subsidise the rates of inputs and distribute improved cocoa seedlings to farmers for mass production and bumper harvest.
The representative of Cocoa Institute Of Nigeria, Mr. Prince Olaniyi, expressed disappointment that the only government-owned cocoa plantation had been leased out .
He said out of the cocoa-producing states, Abia had one of the best cocoa seeds nationwide .
Business
Royal African Society marks 125 years of Africa – Britain Businesses
The anniversary featured the Closing of Markets Ceremony and ringing of the exchange’s closing bell, alongside high-level sector discussions, fireside chats, the presentation of philanthropy awards and the unveiling of the Top African Brands in the UK and Top British Brands in Africa.
• Arunma Oteh, Chairperson of the Royal African Society
The Royal African Society has marked 125 years anniversary of Africa and Britain businesses and investments at a ceremony held at the London Stock Exchange.
The Wednesday event brought together the Emir of Kano, Muhammadu Sanusi II; President and Chief Executive Officer of Africa Finance Corporation, Samaila Zubairu; Chief Executive Officer of British International Investment, Leslie Maasdorp; Founder and Chief Executive Officer of Flutterwave, Olugbenga “GB” Agboola; Director and Chief Executive Officer of the Royal African Society, Stella Okotete; and other business, diplomatic and policy leaders.
Chairperson of the Royal African Society, Arunma Oteh, said that the organisation had spent 125 years fostering partnerships between both regions.
Oteh said that the celebration was aimed at deepening collaboration between Africa and the UK while promoting investment, innovation and shared prosperity.
The anniversary featured the Closing of Markets Ceremony and ringing of the exchange’s closing bell, alongside high-level sector discussions, fireside chats, the presentation of philanthropy awards and the unveiling of the Top African Brands in the UK and Top British Brands in Africa.
Business
US subjects imports from Nigeria to 12.5% tariff
The tariff affects imports from 60 economies that Washington says have not “imposed and effectively enforced a prohibition on the importation of goods produced with forced labour.”
The United States has imposed a 12.5 per cent tariff on imports from Nigeria as part of a new trade measure targeting countries it says have failed to prohibit the importation of goods produced with forced labour.
The tariff affects imports from 60 economies that Washington says have not “imposed and effectively enforced a prohibition on the importation of goods produced with forced labour.”
The measure was announced in a statement posted on the website of the Office of the United States Trade Representative on Thursday.
Nigeria is among the countries subject to the 12.5 per cent tariff, while India, Indonesia, Malaysia, Mexico and the United Kingdom will face a lower 10 per cent rate after adopting or committing to implement bans on imports linked to forced labour.
The move follows investigations launched by the USTR in May 2026 into 60 of the United States’ largest trading partners under Section 301 of the Trade Act.
According to the agency, it received more than 1,600 written submissions, held public hearings involving over 100 witnesses, and consulted more than 45 governments before announcing the tariffs.
Business
MTN Nigeria asks customers to trade old SIM packs for prizes
MTN named eight collection centres across the country where customers can deposit their items. The locations cover Lagos, Abuja, Kano, Jos, Delta, Port Harcourt, and Ibadan.
MTN Nigeria has invited customers to bring in old SIM packs, recharge cards, booster cards, dongles, and MTN-branded phones in exchange for prizes.
The telecom giant is running the campaign the under the hashtag #YelloMoments.
MTN launched the campaign on Wednesday, July 23, via its official social media pages, telling followers that items kept in drawers over the years could be worth something.
Customers who participate will also be featured on what MTN described as a “Memory Wall.”
Collection centres across Nigeria
MTN named eight collection centres across the country where customers can deposit their items. The locations cover Lagos, Abuja, Kano, Jos, Delta, Port Harcourt, and Ibadan.
In Lagos, customers can visit MTN Plaza at No. 1 Awolowo Road, Falomo, Ikoyi, or the office at 43 Allen Avenue, Ikeja. In Abuja, the collection point is at No. 4, Medeira Street, Maitama.
In Kano, it is at 2, Civil Centre Road. In Jos, Plateau State, the centre is at Plot 3119, Royalfield Road.
In Asaba, Delta State, the location is KLM 129, Benin–Asaba Expressway. In Port Harcourt, Rivers State, customers can go to 234, Old Aba Expressway, Opposite Hannah Fast Food.
In Ibadan, Oyo State, the drop-off point is at MTN Regional Office 1, Olubadan Avenue and Up/Zartech Road, Oluyole Estate.
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