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Nigeria News (Standard)

Lagos Agro Firms Drive ₦3.8trn Market Surge, Deliver 1,656% Gain to Investors in Four Years

Presco, Okomu Oil, and FTN Cocoa Processors lead record growth on NGX as local demand and strong earnings boost sector

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Presco, Okomu Oil, and FTN Cocoa Processors lead record growth on NGX as local demand and strong earnings boost sector

Three leading agro-allied companies listed on the Nigerian Exchange (NGX) — Presco Plc, Okomu Oil Palm Plc, and FTN Cocoa Processors Plc — have delivered a remarkable 1,656 percent capital gain to investors over the last four years. The surge, recorded as at Thursday, June 17, 2026 in Lagos, has seen their combined market value rise from ₦217.6 billion in May 2022 to ₦3.82 trillion.

The significant rally began when Presco traded at ₦77 per share, Okomu Oil at ₦147, and FTN Cocoa at just 29 kobo in 2022. By June 2026, Presco’s share price had climbed to ₦2,300 while Okomu Oil reached ₦1,418. FTN Cocoa also moved out of penny stock status to close at ₦8.50 per share.

Market analysts link the performance to improved earnings reports from the companies and stronger investor appetite for locally produced agricultural commodities amid naira volatility and rising global food prices. The companies’ ability to expand processing capacity and leverage local sourcing has further increased their pricing power within Nigeria’s agriculture sector.

According to NGX data released this week, the trio’s transition from mid- and small-cap agricultural plays into major market drivers reflects a broader shift towards non-oil sectors on the exchange. “These results show that with favourable policies and investment in value addition, agro-processing can deliver real returns for shareholders,” one analyst said.

As global demand for food products remains high and Nigeria seeks to diversify its economy away from oil dependence, stakeholders expect continued interest in agro-allied stocks on the NGX. Investment advisers urge caution due to potential market corrections but maintain that fundamentals for sector leaders like Presco and Okomu Oil remain strong.

Source: https://guardian.ng/business-services/agro-allied-stocks-deliver-1656-capital-gain-to-investors-in-four-years/

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Nigeria News (Standard)

Ekiti Police Commissioner Hails High Early Voter Turnout in Governorship Polls

Security agencies report calm atmosphere as residents throng polling units across Ekiti State for Saturday’s elections

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Security agencies report calm atmosphere as residents throng polling units across Ekiti State for Saturday’s elections

The Commissioner of Police in Ekiti State has commended what he described as “unprecedented” early voter turnout during the ongoing governorship election held across the state on Saturday, June 20. The police chief made the remarks after visiting several polling centres in Ado-Ekiti and other major towns to assess the electoral process.

According to security sources, residents began arriving at polling stations as early as 7:30 a.m., with long queues forming in many locations before the official commencement of accreditation. Officers from the Nigeria Police Force, supported by men of the Nigeria Security and Civil Defence Corps (NSCDC) and other agencies, were seen deployed at strategic points to maintain order and ensure safety throughout the exercise.

The high turnout comes amid heightened interest in this year’s governorship contest, which observers say is pivotal for both major parties — All Progressives Congress (APC) and Peoples Democratic Party (PDP) — in consolidating their influence in the South-West geopolitical zone. Previous elections in Ekiti have witnessed concerns about low participation and voter apathy; however, Saturday’s early crowd suggests increased mobilisation efforts by political actors and civil society groups.

Speaking after his monitoring tour, the Commissioner of Police said: “We are impressed with the peaceful conduct so far and urge all eligible voters to remain law-abiding as they exercise their civic rights.” The police chief assured that security agencies would remain vigilant throughout voting and result collation. There were no major incidents reported as at midday, according to official updates from the command.

Election officials say counting will begin immediately after voting ends later on Saturday, with results expected to be announced at local government collation centres before transmission to INEC headquarters in Ado-Ekiti. Stakeholders have called on party supporters to maintain peace during collation and announcement of results.

Source: https://www.premiumtimesng.com/news/top-news/889276-ekitidecides2026-police-chief-hails-unprecedented-early-voter-turnout.html

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Nigeria News (Standard)

Observers Report Vote-Buying Incidents During Ekiti Governorship Election

Civil society groups raise alarm as irregularities mar voting process in major towns across Ekiti State

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Civil society groups raise alarm as irregularities mar voting process in major towns across Ekiti State

Incidents of vote-buying have been reported by election observers monitoring the ongoing governorship election in Ekiti State on Saturday, 20 June 2026. According to several civil society organisations present at polling units in Ado-Ekiti, Ikere, and other major towns, political party agents allegedly offered cash incentives to voters in exchange for their ballots.

Observers said the irregularities were observed shortly after polling commenced, with party representatives seen distributing envelopes and directing voters towards specific candidates. The reports have triggered concerns among stakeholders about the integrity of the electoral process in this South-West state, which has witnessed intense rivalry between the All Progressives Congress (APC), Peoples Democratic Party (PDP), and Labour Party (LP).

Election monitoring groups noted that despite the presence of security personnel at many polling stations, enforcement against vote-buying appeared weak. “We are seeing open transactions near some polling units,” one observer said, adding that such actions could undermine public confidence in the outcome. The election is being closely watched as it is expected to set the tone for subsequent off-cycle polls in Nigeria ahead of the 2027 general elections.

The Independent National Electoral Commission (INEC) had earlier warned against electoral malpractices and assured voters that all complaints would be investigated. However, opposition parties have already begun calling for increased vigilance from law enforcement agencies. As at press time, INEC had not issued a formal response regarding the allegations of vote-buying. Results from several local government areas are expected later today, with analysts warning that reported irregularities could lead to disputes over final tallies.

Source: https://www.premiumtimesng.com/news/more-news/889275-ekitidecides2026-observers-report-incidences-of-vote-buying-in-ongoing-ekiti-gov-poll.html

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Nigeria News (Standard)

Falz Releases ‘Ole’, Criticises Nigerian Leaders Over Insecurity and Economic Hardship

Lagos-based rapper renews social commentary with latest single; track follows earlier criticism of electoral commission

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Lagos-based rapper renews social commentary with latest single; track follows earlier criticism of electoral commission

Award-winning rapper and activist Folarin Falana, popularly known as Falz, has released a new single titled ‘Ole’, openly criticising Nigerian political leaders for failing to tackle the country’s growing insecurity and economic hardship. The track, unveiled in Lagos on Thursday, comes nearly four years after Falz made headlines with ‘Yakubu’, a song targeting the Independent National Electoral Commission (INEC) and its then Chairman, Mahmood Yakubu.

In ‘Ole’, which translates to ‘thief’ in Yoruba, Falz accuses government officials of neglecting their responsibilities amid worsening socio-economic conditions nationwide. The rapper’s lyrics point to a persistent lack of accountability among those in power, referencing the everyday struggles Nigerians face due to rising prices and widespread insecurity.

The latest release is significant given Nigeria’s current economic challenges, including inflation rates above 30 percent according to recent National Bureau of Statistics (NBS) data, as well as continued reports of kidnappings and attacks in several states. Many young Nigerians have turned to music and social media as platforms to express frustration over what they see as government inaction.

While official government reaction to the song was not immediately available as at press time, Falz’s previous political tracks have drawn both praise from civil society groups and criticism from ruling party supporters. Some analysts say such music plays a role in shaping public debate ahead of future elections.

With ‘Ole’, Falz reaffirms his position as one of Nigeria’s most outspoken musical voices on governance issues. Observers expect further conversations around leadership accountability as the song gains traction online and across radio stations nationwide.

Source: https://guardian.ng/life/music/falz-drops-ole-blasts-nigerian-leaders-over-insecurity-hardship/

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