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C & I Leasing Group Turnover Rises 161%

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C & I Leasing recorded a turnover of N6.8 billion from its activities including those of its subsidiaries the year ended January 2009 compared to N2.6 billion in the corresponding period of last year, representing an increase of about 161.5 per cent.

The company on its own however to rise in revenue form its own however, posted a turnover of N4.7 billion compared with N2.4 billion the previous period.

It attributed the growth in turnover to rise in revenue from its outsourcing and car rental services increased volume of finance lease transactions and the consolidation of C & I Motors Limited results.

The group also made capital investment amounting to N2.1 billion, due to the need to enlarge its assets generating income and assuring that it would start reaping the  benefits soon.

Its total asset likewise rose by 55 per cent from N6.7 billion to N10.4 billion, while that of the company increased by 43 per cent from N5.1 billion with the performance linked to the impact of consideration of the accounts of Leasefric, Ghana, C & I Motors Limited and the growth of the income generating assets.

The group’ss gross profit also increased by 57 per cent to N1.8 billion  from N1.1 billion, but its gross margin ratio reduced to27 per cent from 44 per cent over the period.

The reduction was attributed  to increase direct cost and particularly  interest expense which is said to have continued to rise from June 2008 till the end of the period under review.

AMU Abdul Bello rtd, the company’s chairman, who made the clarifications at its Annual General Meeting (AGM) in Lagos, recently, said that for the year ended, the board of directors recommended a final dividend payment of 12 kobo per share, while it looks forward to higher dividends.

According to  him, during the year, the company incorporated an additional subsidiary, called Critans Global Limited to operate a modern taxi service in Lagos from May 2009, adding that, its existence would contribute to the group’s profit by the end of the next financial year.

According to him, the company has envisaged the impact of the economic downturn on its operations and has thus taken measures to minimize the effects for the benefits of its investors.

The chairman stated that this made it to jettison its plan to raise additional equity by public issue but had plans in place to issue a convertible bond of about 2 billion, adding that, it would complete the exercise soon.

He revealed that the proceeds would beutilised to finance business expansion and provide additional working capital, saying the state of the capital market and investors perceived attitude made it to drop the earlier plan of public offer.

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USTR Criticises Nigeria’s Import Ban On Agriculture, Others

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The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the  Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.

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Expert Seeks Cooperative-Driven Investments In Agriculture 

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A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.

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NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers

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The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.

King Onunwor

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