Business
Foodstuffs Prices: Expert Harps On Effective Transportation System
An effective rail and road transportation system will help to reduce the cost of foodstuffs in Nigeria, an agricultural expert has said.
Mr Alpheaus Kimbeghi, a food technologist, said this last Wednesday in Abuja in an interview with newsmen while reacting to the high cost of foodstuffs.
Kimbeghi said that the lack of access roads to move farm produce to markets was the major reason for the intermittent hikes in the prices of foodstuffs and other goods.
“Government’s readiness to put our railways back on track will go a long way in ensuring that foodstuffs easily get evacuated from the villages to the cities.
“Similarly, road maintenance, construction and opening of new roads, will make it easy for more goods to get to the market, thereby reducing the cost,” he said.
Kimbeghi noted that traders spent more money on transportation because lorries and trucks, which often conveyed their goods, cost more to hire.
“Now that the rains and the roads are getting worse, prices in the market will escalate too,” he added.
He attributed the huge influx of people from the rural areas to urban centres to the decline in agriculture and the frustration suffered by farmers in getting their goods across to buyers.
He said that several farmers had been compelled to leave their occupation and large expanse of farm lands to engage in menial jobs such as commercial motorcycle business, because their food production efforts were not appreciated.
“A lot of taxi drivers, okada men and wheelbarrow pushers have suffered losses on their farms and have refused to farm,” he said.
The food technologist stressed that,.an efficient rail transportation system, coupled with good road networks linking villages, cities, and markets would curb the hike in the cost of goods.
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Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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