Business
WHAT NIGERIA, AFRICA MUST DO TO ENJOY FULL BENEFITS OF PARTNERSHIPS WITH OTHER COUNTRIES – BUHARI
President Muhammadu Buhari declared Thursday in New Delhi that Nigeria and other African countries must work harder to achieve greater political stability and security before they can enjoy the full benefits of partnership arrangements such as the India-Africa Forum.
Addressing the Plenary Session of the 3rd Summit of the Forum, President Buhari said that to attract the massive investment in-flows which they need to overcome the challenges of unemployment and wealth creation, Nigeria and other African countries must also establish policy environments that guarantee the sanctity of contracts on the basis of the rule of law.
The President told the gathering that since its inception in May this year, his administration has been working with determination to establish these preconditions for rapid socio-economic development and re-focus governance on the real needs of ordinary Nigerians.
“As a Government, we have demonstrated our strong determination to change the direction and content of governance, including the management of our resources through accountability, transparency and result-orientation in governance.
“We are confident that India, as a tested friend and dependable partner, will always stand shoulder to shoulder with us in the discharge of the mandate entrusted to us by our people,” President Buhari said.
The President expressed the hope that the India-Africa Forum will deepen, in practical terms, the South-South Cooperation that countries of the South have desired for so long.
“The current international economic and political environment is far from being favourable, particularly for developing countries. Fresh political conflicts have erupted, accentuated by terrorism and extremism in the most awful forms.
“Trans-border crimes, illegal arms trade, irregular migration and cybercrimes have all added to the new global threats that demand our collective action.
“Furthermore, the world is facing the challenge of Climate Change in which Africa remains badly affected with severe threats to food security and social stability.
“From the West to the East, North to South, virtually every country in our respective regions is faced with unacceptable levels of poverty, unemployment and a youth bulge.
“India and Africa must develop a new spirit of solidarity, cooperation and partnership to confront these emerging threats. We must recognise that, in this globalised age, we all live interconnected lives in a fragile planet. We must therefore work together to uplift the lives of our people in a manner that preserves the sustainability of our living environment.
“These challenges call for a renewed sense of urgency among African countries for economic development. It is an open secret that Africa possesses all the prerequisites to become a major growth region of the world.
“There is therefore the need for India and Africa to strive together to build a virile framework for partnership and cooperation in order to address common challenges in key areas including health, education, interconnectivity, power and employment generation as well as the strengthening of institutions of governance and democracy,” President Buhari told Prime Minister Narendra Modi and African Heads of State and Government.
The President said that although African countries have a number of partnership arrangements with other countries of the world, the India-Africa Forum promises to be different “as it is not only a partnership between friends, but between countries and peoples who have had similar historical experiences of colonial rule”.
He noted that the immense potential of the forum was already evident in the growing volume and improved terms of trade between Africa and India as well as the increasing presence of several Indian enterprises in Africa.
Harmony Gardens’ Ibeju-Lekki Portfolio Crosses $1bn
Harmony Garden & Estate Development Limited has expanded its development activities across Ibeju-Lekki, pushing the projected long-term value of its estate portfolio beyond $1 billion.
Led by Chief Executive Officer Hon. Dr. Audullahi Saheed Mosadoluwa, popularly know Saheed Ibile, the company is developing seven estates within the Lekki–Ibeju corridor. Details available on Harmony Garden & Estate Development show a portfolio spanning land assets and ongoing residential construction across key growth locations.
A major component is Lekki Aviation Town, where urban living meets neighborhood charm, located near the proposed Lekki International Airport and valued internally at over $250 million. The development forms part of the company’s broader phased expansion strategy within the axis.
Other estates in the corridor tagged as the “Citadel of Joy” (Ogba-idunnu) include Granville Estate, Majestic Bay Estate, The Parliament Phase I & II, and Harmony Casa Phase I & II.
With multiple projects active, the rollout of the Ibile Traditional Mortgage System, and structured expansion underway, Harmony Garden & Estate Development Ltd continues to deepen its presence within the fast-growing Ibeju-Lekki real estate market.
Business
BUA Group Showcases Food Manufacturing Strength at 62nd Paris International Agricultural Show
BUA Group Showcases Food Manufacturing Strength at 62nd Paris International Agricultural Show
BUA Group, one of Africa’s leading diversified conglomerates, is maintaining a strong presence at the ongoing 62nd edition of the Paris International Agricultural Show in France, participating as a premium sponsor and supporting the Nigeria Pavilion at one of the world’s most respected agricultural gatherings.
The 62nd Paris International Agricultural Show, taking place from February 21 to March 1, 2026, at Porte de Versailles in Paris, convenes global leaders across farming, agro processing, technology, finance, and policy. The event serves as a strategic platform for industry engagement, knowledge exchange, and commercial partnerships shaping the future of global food systems.
BUA Group’s participation reflects its long term commitment to strengthening the entire food production value chain. Through sustained investments in large scale processing, value addition, and branded consumer products, the Group continues to reinforce its role in advancing food security, industrial growth, and regional trade integration.
Speaking on the Group’s participation, the Executive Chairman of BUA Group, Abdul Samad Rabiu CFR, said, “BUA’s presence at the Paris International Agricultural Show reflects our belief that Africa must be an active participant in shaping the future of global food systems. We have invested significantly in local production capacity because we understand that food security, industrial growth, and economic resilience are interconnected. Platforms like this allow us to build partnerships that strengthen Nigeria’s competitiveness and expand our reach beyond our borders.”
BUA Foods, a subsidiary of BUA Group, maintains a strong footprint in flour, pasta, spaghetti, sugar, and rice production, serving millions of consumers within Nigeria and across neighbouring African markets. The Managing Director of BUA Foods, Engr. Abioye Ayodele, representing the Executive Chairman, is attending the event at the Nigeria Pavilion, engaging industry stakeholders and showcasing the company’s manufacturing capabilities.
Also speaking at the show, Engr. Ayodele stated, “BUA Foods has built scale across key staple categories that are central to household consumption. Our participation at this Show allows us to demonstrate the quality, consistency, and operational strength behind our products. We are also engaging global stakeholders with a clear message that Nigerian manufacturing can meet international standards while serving both domestic and regional markets efficiently.”
The Show provides BUA Group with an opportunity to deepen trade relationships, explore new export pathways, and reinforce Nigeria’s growing relevance within the global agricultural and food ecosystem.
BUA Group remains focused on building enduring institutions, expanding productive capacity, and positioning African enterprise competitively within global markets.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
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