Business
Why Food Exports From Nigeria ‘re Rejected At Int’l Market – NIFST
The Nigerian Institute of Food Science and Technology (NIFST), has identified non-compliance with global food standards, poor packaging and poor adherence to food safety as part of the major reasons food exports from Nigeria are rejected at the International market.
NIFST which stated this at a press conference at the Michael Okpara University of Agriculture Umudike on Tuesday, also identified poor funding funding as a major challenge to Nigeria’s food export quest.
National President of NIFST, Professor Joseph Oneh Abu, who addressed a press conference ahead of the 47th Annual Conference of the NIFST, holding in Abia State, regretted that despite efforts to break the jinx, Nigeria’s food export is yet to elicit acceptability at the global market.
He further noted that poor branding of foods by exporters usually affect their marketability and competitiveness at the global market.
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The NIFST boss noted that Nigeria has the capacity to dominate the global food export market but called for more conscious efforts to explore the huge opportunity in the sector.
He restated the preparedness of NISFT ” to harness the abundance of talent, knowledge and skills among food professionals in Nigeria towards foods sufficiency and good nutrition of the masses”.
Projecting the value global food industry to hit $10 trillion by 2027, the NIFST boss said that the organization was making frantic efforts to enable Nigeria get a fare chunk of the projection.
He regretted that Nigeria currently, imports more than three times, the value of its food exports.
Professor Abu, however, expressed optimism that experts in the sector would in the course of the conference, brainstorm on the ways to navigate the country out of the woods.
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According to him the conferees are drawn from the academics, civil society, food industry, Government.
The NIFST boss commended the Federal Government for establishing the Nigerian Council of Food Science and Technology, NICFoST to regulate the practice of food science in Nigeria.
He urged Government not to delay in inaugurating the council at ones.
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He, however, appealed for adequate funding to enable NIFST execute its activities in the country council.
Professor Abu predicted bright future for Nigeria in food export is all the necessary stakeholders should play their card well.
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Business
CBN Issues Directive Clarifying Holding Companies’ Minimum Capital
The Central Bank of Nigeria, CBN, has issued a definitive directive detailing how financial holding companies should calculate their minimum paid-up capital, following weeks of confusion that delayed the release of some banks’ half-year and nine-month financial statements.
In a circular dated November 14, 2025, the apex bank acknowledged “divergent interpretations” of the term minimum paid-up capital as stated in Section 7.1 of the 2014 Guidelines for Licensing and Regulation of Financial Holding Companies.
To eliminate ambiguity, the CBN ruled that minimum paid-up capital must be computed strictly as the par value of issued shares plus any share premium arising from their issuance.
READ ALSO:CBN Sets POS Maximum Transactions In Fresh Guidelines
“All Financial Holding Companies are required to apply this definition in computing their minimum capital requirement—without exception for subsidiaries,” the circular stated.
The regulator added that the directive takes immediate effect, noting that any previous interpretation that does not align with the new clarification “should be discontinued forthwith.”
The move is expected to calm market anxiety and provide clarity for lenders navigating ongoing regulatory capital requirements.
Business
Naira Records Massive Week-on-week Depreciation Against US Dollar
The Nigerian Naira recorded massive week-on-week losses against the United States dollar at the official foreign exchange market.
The Central Bank of Nigeria’s exchange rate showed that the Naira dipped significantly to end the week at N1,456.73 on Friday, November 21, 2025, down from N1,442.43 traded on November 14.
This means that on a weekly basis, the Naira shed N14.06 against the dollar at the official market.
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However, at the black market, currently battling with low patronage, it remained stable at N1,465, the same rate traded last week.
The development comes despite Nigeria’s foreign reserves rising by 1.25 per cent to $43.64 billion in the last week.
Business
Naira Appreciates Against US Dollar After Highest Dip
The Naira bounced back, recording an appreciation against the United States dollar at the official foreign exchange market after hitting its lowest point this week.
Data from the Central Bank of Nigeria showed that the Naira strengthened to N1,452.13 on Thursday, up from N1,454.19 traded on Wednesday.
This represents a gain of N2.06 against the dollar on a day-to-day basis.
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Meanwhile, in the black market, the Naira depreciated by N5 to N1,470 per dollar on Thursday, down from N1,465 recorded the previous day.
The apex bank’s data indicated that the country’s external reserves continued to rise, standing at $44.12 billion as of 19 November 2025, despite the mixed sentiments in the currency exchange market.
Recall that on Wednesday, the Naira recorded its highest depreciation against the dollar at the official FX market.
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