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Lagos Government Rolls Out Phase II of Poultry Subsidy Program to Ease Egg and Chicken Prices

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Lagos, Nigeria – Poultry farmers in Lagos State have signaled that residents could witness a modest reduction in the cost of eggs and chicken in the coming weeks, following the launch of the second phase of the state’s food subsidy initiative.

The program, titled Ounje Eko Phase II, is spearheaded by the Lagos Ministry of Agriculture and Food Systems and aims to mitigate rising food costs ahead of the year-end holiday season, when demand for poultry products traditionally surges. By providing feed subsidies to participating poultry farmers, the initiative seeks to stabilize production expenses, enabling producers to offer eggs and chicken at more affordable prices for consumers.

In an interview, Foluso Adams, Vice President of the Poultry Association of Nigeria’s Lagos chapter and Chairman of the Aiyedoto Poultry Farmers Settlement, said the subsidy is already sparking conversations among farmers about lowering retail prices. He emphasized that the program is expected to provide immediate relief to households struggling with elevated food costs, particularly as seasonal demand intensifies.

Officials from the Ministry of Agriculture noted that Ounje Eko Phase II forms part of a broader strategy to curb food inflation across Lagos State, while supporting local farmers and boosting poultry production. Analysts suggest that such interventions are crucial in ensuring both price stability and food security, especially during high-demand periods.

With the program now underway, consumers and market watchers will be closely monitoring retail prices in the coming weeks to gauge the impact of the subsidy on everyday poultry products.

📷 Lagos State Ministry of Agriculture & Food Systems

Former Vice President Atiku Abubakar Joins African Democratic Congress Following PDP Exit

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Abuja, Nigeria – Former Vice President Atiku Abubakar has officially joined the African Democratic Congress (ADC), marking a significant realignment in Nigeria’s political landscape.

Atiku’s move follows his resignation from the Peoples Democratic Party (PDP) on July 16, 2025, a decision he attributed to “irreconcilable differences” within the opposition party. His departure ended a long-standing association with the PDP, where he had been a prominent figure and presidential candidate in multiple election cycles.

The former Vice President’s entry into the ADC is seen as a strategic effort to consolidate his political influence ahead of upcoming electoral contests. Party officials have welcomed Atiku, emphasizing that his experience and nationwide appeal will strengthen the party’s reach and competitiveness.

Political analysts suggest that Atiku’s switch could reshape opposition dynamics in Nigeria, potentially influencing alliances and voter alignments as the country approaches key elections. Observers also note that this move signals a broader trend of high-profile defections and realignments in the lead-up to the 2027 electoral cycle.

Atiku is expected to play an active role in shaping the ADC’s policy agenda, campaigning strategies, and nationwide mobilization efforts, bringing his decades of political experience to the party’s leadership team.

📷 African Democratic Congress Official Media Unit

FCMB Group Clarifies Capital-Raise Limit Increase Is Regulatory Compliance, Not New Fundraising

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Lagos, Nigeria – FCMB Group Plc has clarified that its recent decision to raise the ceiling of its capital-raising authority from ₦340 billion to ₦400 billion is a regulatory compliance measure and does not signify a new fundraising initiative.

The clarification follows an addendum issued by the company on November 21, 2025, which amended Resolution 1 of its Extraordinary General Meeting (EGM) notice originally published on November 15. The EGM notice had earlier drawn attention after being reported by Nairametrics.

In the addendum, Mrs. Olufunmilayo Adedibu, Company Secretary of FCMB Group, emphasized: “Please note that this resolution supersedes Resolution 1 in the earlier published notice of extraordinary general meeting.” She explained that the adjustment in the capital-raise ceiling was prompted by revised regulatory expectations communicated by the Central Bank of Nigeria (CBN).

Under the amended resolution, the company’s Board of Directors is now authorized to raise capital up to ₦400 billion, or its equivalent in any other currency. The resolution allows the Board to utilize a range of instruments, including shares, notes, bonds, or other approved capital instruments, both locally and internationally, as deemed appropriate and in line with regulatory approvals.

FCMB Group stressed that the adjustment is purely a pre-emptive regulatory alignment and should not be interpreted as an imminent issuance of securities or a capital-raising exercise. The company reaffirmed its commitment to maintaining compliance with CBN directives while ensuring financial flexibility for strategic growth.

📷 FCMB Group Plc Corporate Communications

Nigerian Army Releases List of Successful Candidates for SSCC Course 49/2026

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Abuja, Nigeria – The Nigerian Army (NA) has officially published the list of successful candidates for the Short Service Combatant Commission (SSCC) Course 49/2026 Selection Board, according to a statement issued by the Military Secretary of the Army.

Successful applicants are required to report to the Nigerian Defence Academy (NDA) Ribadu Campus, Old Site, Kaduna State, on December 1, 2025. Candidates are advised to arrive in Kaduna a day earlier, on November 30, 2025, and report to the Selection Board venue between 6:00 am and 11:00 am on December 1.

The official announcement emphasized that the full list of shortlisted candidates is accessible via the Nigerian Army recruitment portal at https://recruitment.army.mil.ng.

This selection forms part of the Army’s ongoing effort to recruit highly qualified personnel into the Short Service Combatant Commission, providing opportunities for individuals to serve in key operational roles within the Nigerian military.

Candidates and interested members of the public are encouraged to verify their status and follow the stated reporting schedule to ensure smooth participation in the course.

📷 Nigerian Army Recruitment Unit

CBN Issues New Directive on Minimum Paid-Up Capital for Banks and Financial Holding Companies

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Abuja, Nigeria – The Central Bank of Nigeria (CBN) has issued a fresh directive providing clarity on the computation of minimum paid-up capital for banks and Financial Holding Companies, following weeks of uncertainty that delayed the release of some lenders’ half-year and nine-month financial results.

In a circular dated November 14, 2025, the apex bank stipulated that the minimum paid-up capital referenced under Section 7.1 of the 2014 Guidelines for Licensing and Regulation of Financial Holding Companies must be calculated strictly as the par value of issued shares plus any share premium arising from issuance.

The CBN emphasized that this clarification takes immediate effect and supersedes all previous interpretations, ensuring uniform application across the banking sector. The move is expected to provide regulatory certainty for financial institutions and facilitate the timely reporting of their earnings.

Industry analysts note that the directive underscores the CBN’s ongoing efforts to strengthen governance, transparency, and capital adequacy within the Nigerian banking system, while aligning regulatory practices with established international standards.

Banks and financial holding companies are advised to review their capital structures in line with the directive to ensure full compliance.

📷 Central Bank of Nigeria Official Communications

NNPC Limited Posts ₦5.4 Trillion Profit After Tax, Revenue Hits ₦45.1 Trillion in 2024

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Abuja, Nigeria – NNPC Limited has reported a profit after tax of ₦5.4 trillion for the 2024 financial year, alongside a revenue increase to ₦45.1 trillion, reflecting robust operational performance and growth across its core business segments.

During the company’s recent earnings call, executives highlighted that the results demonstrate significant year-on-year improvements, driven by stronger upstream and downstream operations, increased crude sales, and enhanced operational efficiencies.

The report underscores the company’s ability to sustain profitability despite global oil market volatility and domestic energy sector challenges. Analysts note that the performance reinforces NNPC Limited’s role as a key contributor to Nigeria’s fiscal revenues and the broader economy.

NNPC management indicated that the focus for the coming year will include continued optimization of production, expansion of strategic investments, and strengthening operational transparency to maintain growth momentum.

📷 NNPC Limited Corporate Communications

Africa Is No Monolith: Crafting Tech Solutions That Truly Fit the Market

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Africa’s technology landscape is often discussed as a single, homogenous market, yet this perception obscures the continent’s staggering diversity in culture, infrastructure, and consumer needs. With over 1.4 billion people across 54 countries, each with distinct languages, regulatory frameworks, economic realities, and technological adoption rates, building effective tech solutions requires far more than a one-size-fits-all approach.

Tech entrepreneurs and investors are increasingly recognizing that successful products must be hyper-localized. What works in Lagos may not work in Nairobi; what resonates with consumers in Cape Town may be irrelevant in Accra. Factors such as internet connectivity, mobile payment adoption, language preferences, and local business practices all shape how technology is designed, deployed, and scaled.

Take mobile financial services, for example. While Kenya’s M-Pesa succeeded by leveraging widespread mobile penetration and existing informal banking practices, attempts to replicate the model in other countries have required significant adjustments to align with local user behavior and regulatory conditions. Similarly, e-commerce platforms that thrive in Nigeria must navigate logistics, infrastructure, and payment systems that differ markedly from South Africa or Morocco.

Successful African tech companies increasingly embed user-centered design principles, engaging directly with communities to understand pain points and adapt solutions. This approach not only improves adoption but also ensures sustainability, as technologies evolve alongside the social and economic realities of their target markets.

Investors and developers are also recognizing that partnerships with local stakeholders—including governments, telecom operators, and small businesses—can accelerate adoption and reduce operational friction. Tailoring solutions to local contexts, rather than simply transplanting foreign models, has become a cornerstone of scaling tech in Africa.

Ultimately, the lesson is clear: Africa is no monolith. To unlock the continent’s vast potential, tech innovators must respect its complexity, designing products that respond to local realities while remaining flexible enough to adapt across regions. Those who succeed are not just building technology—they are shaping the future of African markets on African terms.

📷 Illustration: African tech ecosystem with diverse markets and digital innovation hubs

Snapchat Introduces Age Verification in Australia Ahead of Under-16 Social Media Ban

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Sydney, Australia – Snapchat has begun implementing age verification measures for its Australian users as the country prepares to enforce a government-mandated social media ban for individuals under 16, set to take effect on December 10, 2025.

The new verification process allows users to confirm their age through one of three methods: linking a bank account, submitting a government-issued ID, or using facial recognition technology. Accounts found to belong to users under the age of 16 will be automatically locked once the law comes into force, restricting access to the platform.

Australian regulators have introduced the legislation as part of broader efforts to protect minors from potential online harms, including exposure to inappropriate content and online exploitation. Social media platforms operating in the country are required to comply with these measures or face penalties.

Snapchat’s rollout follows similar actions by other global platforms seeking to align with local digital safety laws, reflecting a growing trend of age-specific restrictions and verification protocols worldwide.

The company has urged users to complete the verification process ahead of the December deadline to avoid account disruptions, while emphasizing that data submitted for verification will be handled securely in accordance with privacy regulations.

📷 Snapchat Australia / Regulatory Compliance Team

United States Removes 15% Tariff on Ghanaian Cocoa and Agricultural Exports

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Accra, Ghana – The United States has officially lifted the 15% tariff on Ghana’s cocoa and other agricultural exports, reversing a policy that had previously increased costs for Ghanaian produce in the U.S. market. The tariff removal took effect on November 13, 2025, according to Ghana’s Ministry of Foreign Affairs.

Ghana’s Foreign Affairs Minister confirmed that the policy change is expected to significantly enhance the country’s cocoa export revenue, potentially adding millions of dollars to annual earnings. Analysts estimate that the adjustment could contribute to an increase of up to $60 million annually, benefiting cocoa farmers and the broader agricultural sector.

The move also marks a positive development in U.S.–Ghana trade relations, reinforcing bilateral cooperation in agriculture and signaling a commitment to facilitating fair trade practices. Observers note that this policy shift may also pave the way for further collaboration in areas such as investment, technology transfer, and agricultural development.

For Ghanaian exporters, the removal of the tariff is anticipated to improve market competitiveness in the U.S., making cocoa and other agricultural commodities more accessible to American buyers while supporting the livelihoods of farmers across the country.

📷 Ghana Ministry of Foreign Affairs / Trade and Export Division

Nigeria Engages Chinese Delegation to Boost Road Sector Through Technology and Capacity Development

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Abuja, Nigeria – The Federal Government of Nigeria has commenced discussions with a Chinese delegation from CGGC Global aimed at strengthening collaboration in capacity building, equipment support, and technology transfer within the country’s road infrastructure sector.

At a meeting in Abuja, Works Minister of State Bello Goronyo emphasized the government’s commitment to modernizing road construction and maintenance practices. He outlined plans to provide enhanced training programs for engineers and technical staff, deploy improved road maintenance equipment, and adopt modern construction techniques aligned with international standards.

The discussions reflect Nigeria’s broader strategy to leverage foreign expertise to accelerate infrastructure development while fostering local technical capacity. Officials noted that partnerships with companies like CGGC Global could help reduce project costs, improve road durability, and ensure timely delivery of critical transport projects.

CGGC Global representatives expressed readiness to support Nigeria’s road sector through knowledge transfer, advanced machinery, and technical assistance, highlighting the potential for long-term collaboration that benefits both countries.

The talks are expected to culminate in concrete agreements that will enhance the efficiency and quality of Nigeria’s road networks, strengthen local capacity, and create opportunities for skills development across the construction and engineering workforce.

📷 Federal Ministry of Works & Housing / CGGC Global