Business
7TH ECOWAS trade fair officially closed in Accra
ABUJA – The curtains fell on the 7th ECOWAS Trade Fair in Accra, the Ghanaian capital on Monday 11th November, 2013 after 12 days of showcasing of culture and products coupled with sales and business to business networking by traders, manufacturers, industrialists and investors.
Speaking during the official closing ceremony, Ghana’s Deputy Minister of Trade and Industry Nii Lantey Vanderpuye commended the more 600 exhibitors from 11 ECOWAS Member States and outside the region at the fair and expressed the hope that the exchanges would “yield positive returns and progressive demand and supply relationships for the benefits of our numerous stakeholders.”
“The ECOWAS market is so important to all Member States, and we must do all we can to keep it open, growing and developing,” the deputy minister said, adding: “All our governments therefore need to cooperate to ensure that all technical barriers to trade are removed.”
He lamented that “road blocks and unauthorized tariff/road toll collection on our trunk roads,” impeded the smooth movement of persons and goods across the region’s borders and onto the markets, with negative impact particularly on the profitability of exports and severest consequences on trade in perishable foodstuffs and other agricultural commodities.
As a solution, the minister suggested constant review of “our corporate governance and quality service monitoring systems for the Customs and Immigration officers,” to ensure reduction to the barest minimum, delays at various border posts.
He also called for the facilitation of the construction and commissioning of the “long-held dream of a seamless railway line connecting Nigeria, Benin, Togo, Ghana and Cote d’Ivoire,” to resolve most of the problems associated with the overland haulage of agro-produce and other raw or unprocessed commodities across the region’s borders.
Mr. Felix Kwakye, who spoke on behalf of the ECOWAS Commissioner for Trade, Free Movement and Tourism, Mr Hamid Ahmed, said the wide variety of products displayed during fair “attest to the vast potential of our region with a combined market of more than 350 million consumers.”
This potential, he said, “should be harnessed for the industrial development of West Africa, to reduce poverty and improve the living standards of our people.”
The Commissioner said the Accra fair “lived up to its billing as a veritable platform not only to showcase made-in-ECOWAS goods and projection of our industrial and investment potential, but also to give expression to the cherished vision of the Community which is moving from an ECOWAS of States to an ECOWAS of people.”
The Commissioner said the ECOWAS Commission had taken note of the concerns expressed by some traders in relation to the challenges they encountered in the intra moving their products from one member state to the other. He assured that the Commission will continue to work with other stakeholders to improve knowledge of the ECOWAS protocols and texts on the free movement of goods and persons with a view to ensuring that citizens moved freely in accordance with the tenets of the ECOWAS Revised Treaty.
He thanked the Government and people of Ghana for the warm hospitality extended to the exhibitors and Community citizens, as well as their immense contribution to the success of the fair.
The chairman of the Fair’s Regional Organizing Committee, Mr. Johnson Kueku Banka of Togo and Mr. Nana Ofori Amanfo, the Exhibition Director and Deputy Chief Executive of the Ghana International Trade Fair Company, both commended the exhibitors and expressed the hope that lessons learnt from the Accra event would help improve subsequent outings.
The speeches were followed by the lowering of the ECOWAS and Ghana’s flags followed by the rendition of the National and Regional Anthems by the Ghana Police Band, to formally draw activities to a close.
Earlier at a Press Conference, Mr. Adou Koman of the ECOWAS Commission’s Trade Directorate reaffirmed the Commission’s commitment and determination to make the biennial fair a veritable showcase of the region’s business and trade opportunities.
He urged Member States, citizens and other stakeholders to play their roles effectively towards the realization of the goals of regional integration and economic development using trade as one of the key platforms.
Ghana’s President His Excellency, Dramani Mahamma, represented by a member of the National Council of State Honourable Christopher Dewornu, declared the fair officially opened on 31st October 2013 at the Ghana International Trade Fair Centre, under the theme: “Regional Integration through Trade.”
ECOWAS Commission Vice President Dr. Toga McIntosh represented the Commission’s President His Excellency Kadre Desire Ouedraogo at that ceremony with Ghana’s Trade and Industry Minister Haruna Iddrisu and ECOWAS Commissioner Hamid Ahmed, among the dignitaries in attendance.
Previously held every four years, the regional Trade Fair is now a biennial event. Senegal hosted the first edition in 1995, followed by Ghana in 1999, Togo in 2003, Nigeria in 2005, Burkina Faso in 2008 and Togo again in 2011. The 8th edition will take place in 2015 at a venue to be announced in due course.
Shareholders of Nigerian Exchange Group Plc (NGX Group) have commended the Board and Management for the Group’s performance and strategic direction, urging continued focus on growth and long-term value creation.
At the Group’s 65th Annual General Meeting (AGM), shareholders approved the audited financial statements for the year ended 31 December 2025, alongside key resolutions including a final dividend of ₦2.00 per share, a one-for-three bonus share issue, and the corresponding increase in share capital. The re-election of Dr. Umaru Kwairanga, Group Chairman, Board of Directors, Dr. Okechukwu Itanyi, Independent Non-Executive Director and Mrs. Ojinika Olaghere, Independent Non-Executive Director reinforced continuity in governance and oversight.
They acknowledged the Group’s disciplined execution and its role in strengthening the Nigerian capital market, noting that recent developments reflect a more structured and better-regulated market environment.
Speaking during the meeting, the President, New Dimension Shareholders Association, Patrick Ajudua, commended the leadership of the Group for delivering a strong financial outcome, noting that the results reflect both improved market conditions and deliberate strategic execution. “The numbers speak to a business that is gaining strength and direction,” he said.
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Similarly, the Chairman of the Progressive Shareholders Association of Nigeria, Boniface Okezie, lauded the Group’s commitment to innovation and infrastructure development. “The market is becoming more forward-looking, supported by strong leadership at the Group level. Initiatives around market infrastructure and participation are yielding results, and this is positive for investors,” he noted.
Commenting during the AGM, Chairman of NGX Group, Umaru Kwairanga, appreciated shareholders for their continued support and reaffirmed the Board’s commitment to sustainable value delivery. He said, “The progress recorded reflects the strength of the Group’s strategy and the performance of its operating businesses. As a Board, our responsibility is to ensure disciplined oversight, uphold strong governance standards, and position NGX Group to deliver sustainable, long-term value to shareholders.”
Temi Popoola, group managing director/chief executive officer, focused on execution priorities, noting that the Group is positioning for scale. He said, “This next phase is about deepening momentum. Our priority is to scale infrastructure, broaden participation, and unlock new pathways for capital formation.”
The meeting reflected strong shareholder confidence in NGX Group’s leadership, with the Group reaffirming its commitment to playing a central role in the evolution of Nigeria’s capital market while delivering sustained returns to investors.
Sierra Leone has announced the signing of a petroleum licence agreement with Nigeria‑based Marginal Energy Limited, granting the company offshore exploration and production rights as the government seeks to revive interest in its under‑explored upstream sector.
The licence, signed through the Petroleum Directorate of Sierra Leone (PDSL), covers offshore blocks G‑145, G‑146, G‑147, G‑160 and G‑161, spanning about 6,800 square kilometres, according to a government statement, a Reuters report said.
Marginal Energy, a Nigerian independent, has committed to a seismic and drilling programme with exploration spending expected to exceed $225 million.
Under the agreement, the state will hold a 10 percent carried interest in oil projects and 5 percent in gas during exploration and development, with an option to acquire an additional participating interest on a paid basis of up to 9 percent once production begins.
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The deal was signed at the Invest in African Energy conference in Paris, where Sierra Leone has been promoting offshore licensing opportunities to international investors, the report added.
NASCON Allied Industries Plc has rewarded its shareholders with a historic 200 per cent increase in dividend payout, underscoring a remarkable financial performance that saw profit after tax surge by over 100 per cent to N33.5 billion in the 2025 financial year, despite a challenging operating environment.
The strong performance was unveiled at the Company’s 2025 Annual General Meeting (AGM) held in Lagos, where shareholders applauded the resilience, focus and strategic discipline of NASCON’s management and Board.
Reflecting the robust results, the Board of Directors approved a dividend of N6 per share—the highest since the Company was listed on the Nigerian Exchange, signalling NASCON’s confidence in its financial strength and long-term growth prospects.
Earnings per share (EPS) rose sharply by 115 per cent, from 577 kobo in the previous year to 1,241 kobo. Describing the outcome as the best financial performance in NASCON’s history, the Chairman, Mr. Olakunle Alake, attributed the results to improved operational efficiency, strict cost management and the dedication of the Company’s workforce.
“The operating environment in 2025 was characterised by economic volatility, persistent inflation and structural changes across key sectors,” Alake said. “Yet, NASCON remained resilient and strategically focused, delivering outstanding value to shareholders.”
He noted that operational sustainability remains a core pillar of the Company’s strategy. During the year, NASCON introduced Compressed Natural Gas (CNG) trucks into its logistics fleet to reduce fuel costs and minimise exposure to diesel price volatility. In addition, the Company’s state-of-the-art salt refinery, its largest production facility, now runs entirely on natural gas, significantly boosting efficiency while reinforcing NASCON’s commitment to environmental sustainability.
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The Managing Director, Mrs. Aderemi Saka, highlighted key milestones recorded during the year, including a 27 per cent growth in revenue and exceptional returns to shareholders through dividends. She attributed the achievements to a clear strategic vision, disciplined execution and sustained focus on cost-saving initiatives across production, logistics and fleet management.
Looking ahead to 2026, Saka reaffirmed management’s determination to build on the current momentum. She outlined strategic priorities for the coming year, including deeper cost optimisation, expanded market penetration, strengthened energy diversification and sustainability initiatives, as well as accelerated digital transformation and process automation.
In her remarks, Director Mrs. Tonya Lawani emphasised that the Company remains firmly committed to the principles that have driven its excellent performance, noting that NASCON approaches the new financial year from a position of strength, with further opportunities for growth and improvement.
Speaking on behalf of shareholders, Dr. Faruk Umar expressed strong confidence in the Company’s trajectory, citing NASCON’s rising share price, which recently crossed the N100 mark, and projecting further appreciation. He commended the quality of the Board and management team, noting that strong leadership and recent executive appointments have positioned the Company to deliver even greater value to all stakeholders.
With its record-breaking profit, unprecedented dividend payout and forward-looking strategy, NASCON Allied Industries Plc continues to consolidate its position as a leading force in Nigeria’s manufacturing sector while delighting shareholders with sustained value creation.
Photo Caption:
From Left: Company Secretary, NASCON Allied Industries Plc, Oluseun Oluwole; Chairman, NASCON Allied Industries Plc, Olakunle Alake; Managing Director, NASCON Allied Industries Plc, Aderemi Saka; Non-Executive Director, NASCON Allied Industries Plc, Fatima Aliko Dangote; Independent Director, NASCON Allied Industries Plc, Tonya Lawani, at the NASCON Allied Industries Plc 2025 Annual General Meeting held in Lagos on Monday, April 27, 2026
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