Business
NSE Listing: SEC Tasks MTN On IPO Application
The Securities and Exchange Commission (SEC) has tasked MTN Group on official filing of Initial Public Offering (IPO) which has gathered media momentum in the last couple of months.
Speaking at the commission’s second post Capital Market Committee (CMC) meeting in Lagos, SEC Acting Director-General Ms Mary Uduk, said that it had not received any official application from MTN despite media hype on the offer.
“Let MTN file first and the day they tell you they have filed watch us and count.
“Not what you see on the pages of newspapers. Let MTN file their application today and then watch us.
“If you like come and stay in the commission to monitor. I will make an exception. I will open the commission to the press.
“Do you understand? That is the seriousness, we deal with everything that surrounds MTN.
“Let them just file, please tell them to file and leave the heat at the side of the commission because as we speak and as far as we know, MTN is still a private company until they convert to a public company and then file application with us,’’ Uduk said.
Uduk said that the commission was ready for MTN’s application and would ensure speedy process once the application was filed.
The Tide source also reports that capital market operators had doubted the possibility of MTN IPO and subsequent listing on the Nigerian Stock Exchange (NSE) this year.
They said that the IPO may not be visible this 2018 by the way and manner MTN was handling the issue.
The Managing Director, APT Securities and Funds Ltd, Malam Garba Kurfi, said that MTN was dragging the issue because of the way and manner things were handled in the country.
“I will not be surprise if they come with another excuse to shift the offer to next year as there is nothing on the ground to confirm their seriousness even though they have selected parties to the offer,’’ Kurfi said.
However, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, said recently that MTN must list on the NSE on or before May 2019.
Danbatta was quoted to have said in Abuja that the company must list on or before May 2019 as contained in the agreement over the 2015 fine settlement between the regulator and the telecom company.
MTN Group had in May told The Tide’s source that it was perfecting the details of its proposed Nigeria IPO.
An official of MTN Group, who pleaded anonymity, confirmed this in response to enquiries by the source on why the company was yet to file applications for the proposed offer.
The MTN representative said detailed process and work stream on the IPO were presently underway and would be announced at the appropriate time.
Speaking on the IPO process, the official said MTN had not made known the offer value contrary to the 500 million dollars being speculated in the media.
“To clarify some matters on the IPO process, no amount/value has been given by MTN Group or MTN Nigeria regarding the IPO and there was never a statement on a proposed 500 million dollars IPO’’, he said.
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
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.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
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.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
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.
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