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Nestlé Sustains Investment in Next Generation of Farmers

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3 years ago

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With the Nigerian population expected to reach 230 million by 2025, food security is of considerable importance. Today, the demand for food appears to be outstripping supply as a result of reduced productivity combined with post-harvest waste. To reverse this trend, we need innovative solutions to modernize our farming methods. We must look beyond the farmgate and harvest towards food transformation and preservation. This is where entrepreneurs in the agriculture space, also referred to as agripreneurs, come in.

Nigeria is a country with one of the youngest populations, with a median age of 18 years and about 70% of the population under 30 (National Population Commission), yet the average age of farmers today is 50 years. This is evidently a gap we must fill to ensure we not only feed the present generation, but we secure the future. To achieve this, we must build sustainable food systems by attracting and building active youth participation in the agricultural sector.

GOLDEN MORN, one of Nestlé Nigeria’s leading brands, has therefore, created an Agripreneurship Webinar Series in collaboration with the Enterprise Development Center of the Pan Atlantic University to promote sustainable food systems by increasing youth participation in the sector. The program provides support for young entrepreneurs already engaged in or set to start up businesses in the agricultural sector through trainings, funding, mentoring and networking opportunities. Over 200 young agripreneurs have benefited in the 4 series of the webinar so far.

In his comments at the event to present grants to the nine beneficiaries from the third and fourth sessions of GOLDEN MORN Agripreneurship Webinar series, the MD/CEO Nestlé Nigeria PLC, Wassim Elhusseini, said, “I am excited at yet another opportunity to celebrate the next generation of farmers who will continue to feed our rapidly growing population, the entrepreneurs and innovators of tomorrow. Your passion validates the strategic importance of GOLDEN MORN’s investment to provide support, opportunities and platforms to enable you create or scale your businesses and improve livelihoods within the agricultural value chain.”

“I encourage you, to take advantage of the grants you will receive today, to leverage the mentorship and the networks that you have formed, to make a significant impact by creating jobs for the teeming Nigerian youths,” he added.

Also speaking during the presentation, Obianuju Okafor, Project & Finance Manager of the Enterprise Development Center (EDC), Pan Atlantic University said, “Entrepreneurship is a critical pathway to improving the economy and upscaling the Agricultural value chain.

We are delighted that our continued collaboration with Nestlé GOLDEN MORN on the Agripreneurship Webinar Series continues to provide excellent opportunities for young agripreneurs to be trained on creating and running sustainable business models, to enable them increase their business productivity, ultimately impacting positively on the economy of the nation”.

Responding on behalf of all the beneficiaries, Joshua Bitrus of Agrigain Locura Ventures, Kaduna, said, “I am delighted to be a recipient of the GOLDEN MORN Agripreneurship Webinar Series grant. The grant will definitely go a long way towards actualizing business expansion, not only for myself but also for my fellow recipients. I call on other young people to take advantage of the opportunities provided by companies such as Nestlé Nigeria.”

GOLDEN MORN is an iconic brand from the stable of Nestlé, the Good Food, Good Life company, committed to unlocking the power of food to enhance quality of life for everyone today and for generations to come.

The Webinar series exposes young agripreneurs to relevant trainings on different aspects of the agricultural value chain, with focus on grains. Post training, beneficiaries are supported with seedling and mentorship to enable them thrive in their businesses. The fifth series of the program is scheduled for October 2022. The webinar is open to all budding or existing agric-based entrepreneurs aged 18 to 35 years.

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Business

Unity Bank Disburses N270m to Corpreneurship Winners

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5 days ago

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January 8, 2026

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Unity Bank Plc has disbursed over N270 million in grants to young Nigerian entrepreneurs under its Youth Entrepreneurship Development Initiative: Corpreneurship Challenge, bringing the total number of beneficiaries since inception in 2019 to 608 corps members nationwide.

The initiative, implemented in partnership with the National Youth Service Corps (NYSC) through its Skill Acquisition and Entrepreneurship Development (SAED) programme, continues to equip fresh graduates with the funding, confidence, and support required to launch and scale viable businesses.

In the most recent edition of the Corpreneurship Challenge, held between November 18 and December 9, 2025, across 10 NYSC orientation camps nationwide, 30 youth corps members emerged as winners during the Batch C, Stream I, 2025 exercise of the programme.

The latest beneficiaries were selected from orientation camps in Lagos, Delta, Kaduna, Jigawa, Kwara, Enugu, Abia, the Federal Capital Territory (FCT), Akwa Ibom, and Plateau (Jos), after pitching innovative business ideas across diverse sectors of the economy.

Unity Bank’s cumulative investment in the Corpreneurship Challenge underscores the Bank’s long-standing commitment to youth empowerment, MSME development, and job creation in Nigeria.

Speaking on the continued impact of the initiative, Unity Bank’s Divisional Head, Retail & SME, Mrs. Adenike Abimbola, reaffirmed the Bank’s belief in entrepreneurship as a catalyst for economic transformation.

“At Unity Bank, we recognise that entrepreneurship remains one of the most effective tools for tackling youth unemployment and driving inclusive economic growth. Through the Corpreneurship Challenge, we are not only providing financial support, but also instilling confidence in young graduates to transform viable ideas into sustainable businesses. Reaching over 600 beneficiaries since inception reinforces our belief in the immense potential of Nigeria’s youth,” she said.

Mrs. Abimbola further emphasised the programme’s role in strengthening Nigeria’s MSME ecosystem and creating long-term economic value.

“Small and medium-scale enterprises are the backbone of any resilient economy. By supporting corps members at the earliest stage of their entrepreneurial journey, we are helping to build businesses that can create jobs, stimulate local economies, and contribute meaningfully to national development. Our focus is on impact that goes beyond grants, impact that translates into lasting livelihoods,” she added.

The Corpreneurship Challenge provides a competitive platform where corps members pitch business ideas, assessed on originality, feasibility, market demand, scalability, and job-creation potential. Successful participants receive financial grants to kick-start or expand their ventures, alongside exposure to business guidance and mentorship.

Since its launch, the initiative has supported youth-led businesses across value chains, including fashion, agribusiness, food processing, creative services, manufacturing, and retail. Over the years, it has become an integral part of the NYSC experience, attracting thousands of applications annually and earning national recognition for its contribution to youth empowerment.

By sustaining and expanding the Corpreneurship Challenge, Unity Bank continues to reinforce its role as a strategic partner in Nigeria’s entrepreneurial and MSME development landscape.

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Business

Fidelity Bank Raises N259bn Via Private Placement, Crosses N500bn Capital Requirement

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6 days ago

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January 7, 2026

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Fidelity Bank Plc has announced that it has surpassed the N500 billion regulatory capital threshold following the successful completion of a N259 billion private placement of ordinary shares.

Crossing the N500 billion CBN’s capital requirement marks a major milestone in the lender’s ongoing recapitalisation drive.

The Bank’s Company Secretary, Ezinwa Unuigboje, in a signed statement on Nigerian Exchange Limited (NGX), disclosed that the private placement, conducted with the approval of the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), was opened and closed on December 31, 2025.

According to him, the proceeds from the exercise lifted Fidelity Bank’s eligible capital from N305.5 billion to N564.5 billion, subject to final regulatory approvals.

The latest capital raise positions the lender comfortably above the new minimum capital requirement of N500 billion for commercial banks with international authorisation, as stipulated by the apex bank under its banking sector recapitalisation programme.

According to the bank, the private placement was carried out pursuant to the mandate granted by shareholders at its Extraordinary General Meeting held on February 6, 2025.

At the meeting, shareholders authorised the board to issue up to 20 billion ordinary shares through a private placement as part of measures to strengthen the bank’s capital base and enhance its capacity to support economic growth.

The N259 billion raised through the private placement builds on earlier capital-raising efforts by the bank.

In 2024, Fidelity Bank successfully raised N175.85billion via a combination of a public offer and rights issue, which had increased its eligible capital to N305.5 billion at the time.

That exercise left a capital shortfall of N194.5 billion relative to the new regulatory benchmark, a gap now fully covered by the latest transaction.

Market analysts stated that the successful completion of the private placement underscores strong investor confidence in the bank’s growth strategy, governance framework and long-term fundamentals, even amid tightening regulatory standards and evolving macroeconomic conditions.

Fidelity Bank noted that the strengthened capital position will enhance its balance sheet resilience, support business expansion, and enable it to play a more robust role in financing key sectors of the Nigerian economy, in line with regulatory expectations.

The bank added that it remains focused on value creation for shareholders, prudent risk management and sustained profitability as it navigates the post-recapitalisation phase of the banking sector.

Meanwhile, the stock price of Fidelity Bank closed  trading January 6, 2026 at N19.50 per share, about  2.26 per  cent or N0.46 per share from N19.95 per share it opened for trading.

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Business

FirstBank Meets ₦500bn Regulatory Capital Requirement

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1 week ago

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January 6, 2026

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First HoldCo Plc (“FirstHoldCo” or “the Group”) has announced that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of ₦500 billion. This milestone was achieved following the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement, and the injection of proceeds from the divestment of the Group’s merchant banking subsidiary.

This successful capitalisation underscores strong market confidence in FirstHoldCo Group’s business model, long-term strategy, and growth prospects. With a fortified capital base, FirstBank is positioned to accelerate its support for the real sector, enhance financial inclusion, and deliver innovative, digitally driven customer experiences.

The recapitalisation strengthens the Group’s overall financial resilience, providing a robust platform for earnings growth through business expansion, technological innovation, and the pursuit of new opportunities.

In March 2024, the CBN directed commercial banks to raise their capital base to a minimum of ₦500 billion within a 24-month period to bolster the Nigerian banking sector’s stability and capacity. FirstBank has now fulfilled this requirement well ahead of the regulatory deadline.

In a related development, FirstHoldCo have expressed its desire to raise fresh funding and inject additional capital into the Group’s existing subsidiaries and new business adjacencies in 2026. This forward-looking commitment is aimed at further enhancing service offerings and facilitating strategic expansion.

Commenting on the achievement, Mr. Femi Otedola, CON, Chairman of First HoldCo Plc, said: “On behalf of the Board, I extend our profound gratitude to our shareholders for their trust and unwavering support throughout this capitalisation programme. From the oversubscribed Rights Issue to the seamless Private Placement, investors have demonstrated resounding confidence in our strategic direction. Securing FirstBank’s capital base ahead of schedule is a testament to our collective commitment and positions us firmly for our next growth phase. We also appreciate the professional guidance of the CBN and SEC throughout this process.”

Mr. Wale Oyedeji, Group Managing Director of First HoldCo Plc, added: “This successful capital raise is a pivotal milestone for FirstHoldCo. It provides us with the financial strength to execute our core strategic priorities: driving innovation, delivering superior customer value, and enhancing sustainable profitability. With this solid foundation, we are focused on accelerating performance, improving competitive returns, and delivering lasting value to all our stakeholders.”

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