The African Development Bank (AfDB) has raised $2.5 billion through a three-year global benchmark bond after investor orders reached $4.8 billion, reflecting strong demand for the multilateral lender’s debt offering. The bond, priced on October 21, 2026, carries a fixed coupon of 4.875 per cent and matures on January 18, 2030, according to a statement published by the bank. The final order book was almost twice the amount the bank sought to raise, giving it room to price the transaction at a tighter spread than initially indicated. AfDB initially guided investors towards a spread of approximately 30 basis points above…
Author: Elvis Eromosele
The Edo State Government is seeking Saudi Arabian investment in agriculture and livestock development, with plans to hold direct talks with potential investors in Riyadh ahead of an international investment summit scheduled for the first quarter of 2027. The initiative is part of efforts to attract foreign capital, expand agricultural production and stimulate agro-industrial development across the state. The move followed a meeting between Ohimai Ehijimetor, Edo State Commissioner for Livestock Development, and officials of the Saudi Arabian Embassy in Abuja. The meeting was attended by Abdulrahman Altwaim, Saudi Arabia’s Deputy Ambassador to Nigeria, and the Yazid Halawani, embassy’s Head…
Rite Foods Limited has launched LIDA Malt Classic, its latest beverage offering, as the Nigerian food and drinks manufacturer deepens product diversification and seeks to expand its footprint in the competitive malt drink market. Rite Foods Limited has introduced LIDA Malt Classic, a non-alcoholic malt beverage designed to give consumers more choices and strengthen the company’s position in Nigeria’s competitive beverage industry. The new product, launched under the tagline “LIDA Malt. Made for You,” marks the company’s entry into the malt drink category and extends a portfolio that includes carbonated soft drinks, energy drinks, fruit drinks and bottled water. The…
By Elvis Eromosele When the dream for the Africa Sustainability Forum (ASF 2026) first began to take shape, I asked myself a straightforward question: Is this going to be just another talk shop? We have all attended conferences packed with high-minded rhetoric that vanishes the moment the lights go down. I wanted something different. I wondered, suppose we could focus sharply on action, real-world partnerships, and solutions that actually work? The ASF 2026 surpassed every expectation. Held under the theme “Sustainable Futures: Driving Just Transitions, Green Growth, and Shared Prosperity,” the forum proved that Africa’s sustainability movement is moving decisively…
…how Nestlé Nigeria’s Livestock Development Project is helping pastoral communities boost livelihoods, improve local milk production and build a more resilient dairy value chain by Elvis Eromosele Long before the sun rises, pastoralists are already caring for their cattle. Their work supports families, local economies and the food that ends up in Nigerian homes. But for many livestock producers it has proven difficult to make a living. This World Milk Day, the conversation around dairy products goes beyond the milk on the breakfast table. It is also about the people involved, the communities and partnerships building a stronger domestic dairy…
Africa’s transition to a greener economy will depend on its ability to expand affordable energy access, mobilise climate finance, create decent jobs and develop local industries, speakers at the inaugural Africa Sustainability Forum 2026 have said. The forum, held on Tuesday, October 20, at the Oriental Hotel, Lagos, brought together business leaders, policymakers and sustainability professionals to examine how African economies can pursue climate goals while addressing poverty, infrastructure gaps and the need for industrial growth. Under the theme Sustainable Futures: Driving Just Transitions, Green Growth and Shared Prosperity, discussions focused on the need to translate sustainability commitments into practical…
Leading businesses and industry stakeholders have reaffirmed their commitment to sustainability, with participants at the inaugural Africa Sustainability Forum 2026 pledging to reduce waste, use resources responsibly, support green innovation, create jobs and promote inclusive economic growth. The pledge formed part of the Forum, held on Tuesday, October 20, 2026, at the Oriental Hotel, Lagos, under the theme “Sustainable Futures: Driving Just Transitions, Green Growth and Shared Prosperity.” Convened by TheNumbersNG.com, the Forum brought together business leaders, policymakers, sustainability professionals and other stakeholders to explore practical ways of advancing Africa’s sustainable development. The Africa Sustainability Pledge challenged participants to move…
Ibile Holdings Limited, the Lagos State Government’s investment vehicle, has increased its stake in LASACO Assurance Plc to 51 per cent, becoming the insurer’s majority shareholder following a major rights issue that expanded its share capital. An analysis of LASACO’s nine-month financial statements for 2026 shows that the company’s issued shares rose from 11.08 billion at the end of December 2025 to 20.32 billion as of September 30, 2026, following the issuance of 9.24 billion new shares. The rights issue, priced at N2 per share on the basis of five new shares for every six held, significantly altered the company’s…
Dr Jimson Olufuye, Principal Consultant at Kontemporary Konsulting and Chair of the Advisory Council of the Africa ICT Alliance (AfICTA); Ebenezer Dare, Chief Executive Officer of Hostlag Ltd.; and Atule Christian, President of the National Union of Telecommunication Engineering Students of Nigeria are among five Nigerians appointed to a United Nations multistakeholder group. The group is tasked with strengthening participation in global digital policy discussions, giving the country a voice in shaping the future of the global information society. The appointees will serve on the 92-member Multistakeholder Consultation Group of the United Nations Group on the Information Society (UNGIS-MCG), which…
Meta Platforms has agreed to a new compensation arrangement with Chief Executive Mark Zuckerberg that could help him offset the financial impact of a proposed billionaire tax in California, while giving him greater flexibility to sell shares in the company. The deal follows concerns raised by Zuckerberg about remaining a California resident if voters approve a proposed one-time 5 per cent tax on individuals whose net worth exceeds $1 billion. With his fortune estimated at more than $200 billion, Zuckerberg could face an additional tax bill of about $10 billion if the measure is approved, according to estimates cited in…