The Development Bank of Nigeria (DBN) has crossed a major financing milestone after disbursing more than N1 trillion to Micro, Small and Medium Enterprises (MSMEs) nationwide, reinforcing its position as one of the country’s leading development finance institutions focused on business growth and job creation.
The achievement comes nearly a decade after the bank commenced operations, with over one million MSMEs reportedly benefiting from its intervention programmes. The financing support has also contributed to the creation of more than 1.6 million jobs across multiple sectors of the Nigerian economy.
The latest figures were disclosed during a media briefing in Lagos, where the bank outlined its performance record and unveiled fresh growth targets aimed at expanding financial inclusion and increasing access to credit for underserved businesses.
Brandspur Banking News Desk reports that DBN plans to significantly deepen its impact over the next five years by increasing lending activities, expanding guarantee programmes and mobilising additional capital to support entrepreneurs across the country.
As part of its new strategic roadmap, the development finance institution is targeting an outstanding loan portfolio of N1 trillion while seeking to issue up to N500 billion in credit guarantees designed to improve access to finance for small businesses that often struggle to secure conventional bank loans.
The bank also intends to support more than two million MSMEs and facilitate the creation of two million direct and indirect jobs during the implementation period of its latest strategy, reflecting growing efforts to strengthen enterprise development and economic participation.
To fund its expansion plans, DBN is seeking to mobilise approximately N1.3 trillion through a combination of debt and equity financing. The additional capital is expected to strengthen the institution’s capacity to provide long-term funding and broaden its developmental reach across strategic sectors of the economy.
Since its establishment, DBN has relied on a network of participating financial institutions to channel funding to businesses. The network currently includes commercial banks, microfinance banks, merchant banks and other financial institutions operating across Nigeria.
The bank’s latest impact data also highlights its focus on inclusive financing. Women-owned enterprises accounted for the majority of businesses supported through its programmes, while a substantial number of youth-led businesses also received funding assistance.
Beyond supporting businesses in major commercial centres, DBN has continued to expand lending activities in economically disadvantaged and security-challenged regions. Significant financing has been directed towards MSMEs operating in states affected by conflict and economic vulnerability, helping entrepreneurs maintain operations and create employment opportunities.
In 2025 alone, the institution disbursed hundreds of billions of naira to businesses across the country while expanding its network of participating financial institutions to improve nationwide coverage and accessibility.
Its subsidiary, the Impact Credit Guarantee Limited (ICGL), has also played a growing role in strengthening access to finance by providing guarantees that reduce lending risks for financial institutions. Through the programme, thousands of businesses have secured financing support that may otherwise have been difficult to obtain.
The guarantee scheme has facilitated hundreds of billions of naira in loans while supporting tens of thousands of MSMEs and smaller corporate organisations. The initiative has also contributed to job retention and business sustainability in several sectors.
Looking ahead, DBN plans to allocate a larger share of future financing to women-led enterprises, youth-owned businesses and firms operating in underdeveloped regions as part of efforts to close financing gaps and promote inclusive economic growth.
The latest expansion targets build on recent funding initiatives undertaken by the bank, including the securing of international financing support aimed at increasing affordable credit access for women-owned and women-led businesses across Nigeria. The strategy underscores DBN’s long-term commitment to strengthening the MSME ecosystem and supporting sustainable economic development through improved access to finance.
The Central Bank of Nigeria (CBN) has introduced a revised Foreign Exchange Manual for 2026, setting out updated rules for foreign currency transactions, travel allowances, international money transfers, domiciliary accounts and regulatory compliance across the country’s financial system.
The updated framework, released through the apex bank’s Trade and Exchange Department, is designed to strengthen transparency in the foreign exchange market, improve regulatory oversight and support the stability of Nigeria’s external reserves amid ongoing reforms in the currency market.
The new guidelines retain several existing foreign exchange provisions while introducing stricter compliance measures and penalties for individuals, businesses and financial institutions that fail to meet regulatory requirements.
Under the revised rules, travellers entering or leaving Nigeria with foreign currency exceeding $10,000 or its equivalent must continue to declare the funds to the appropriate authorities at designated entry or exit points. While individuals may carry amounts below the threshold without declaration, larger sums will require official documentation and disclosure.
The manual also maintains existing provisions allowing outbound travellers to move up to $50,000, provided the funds are properly declared. Amounts exceeding that limit must be backed by verifiable evidence showing the money originated from an authorised dealer bank. Brandspur Banking News Desk reports that the measure is aimed at improving monitoring of cross-border cash movements and reducing illicit financial flows.
Hotels licensed to deal in foreign exchange have also been given fresh operational guidelines. International guests may settle bills in foreign currency, but the total amount a hotel can receive from a guest during a single stay must not exceed $10,000 or its equivalent. Such funds are required to be lodged in designated domiciliary accounts in line with regulatory requirements.
For Nigerians travelling abroad, the apex bank has adjusted the disbursement structure for Personal Travel Allowance (PTA). Although the quarterly allowance remains capped at $4,000 for eligible adults, banks are now expected to provide most of the funds through approved electronic channels, including payment cards, while only a smaller portion may be issued as physical cash.
The revised manual also outlines rules for education-related foreign exchange transactions. Undergraduate and postgraduate students studying overseas may access tuition remittances of up to $25,000 per semester, paid directly to their institutions. Students living off-campus can also receive maintenance support within approved quarterly limits.
International money transfers remain subject to strict settlement procedures. Beneficiaries receiving funds from abroad through licensed International Money Transfer Operators (IMTOs) will continue to receive payments primarily in naira. Cash withdrawals are restricted to relatively small amounts, while larger sums must be credited directly into bank accounts.
The CBN further clarified that individuals opening or funding domiciliary accounts are not required to provide details regarding the source of deposited foreign currency. Account holders may continue to execute international transfers within approved daily limits, providing greater flexibility for legitimate foreign currency transactions.
On domestic transactions, the regulator reaffirmed the status of the naira as Nigeria’s legal tender. Goods and services exchanged within the country are expected to be priced and settled in naira, except for specific sectors and operators granted exemptions under existing laws and regulations.
The manual introduces some of the toughest sanctions seen in recent years for foreign exchange violations. Individuals involved in document forgery or false declarations risk substantial fines and possible prison terms, while companies found guilty of infractions may face penalties linked to the value of the transactions involved.
Financial institutions that process foreign exchange transactions without adequate documentation could face significant monetary sanctions. Additional penalties have also been prescribed for delayed regulatory filings, non-compliance with reporting obligations and breaches of export proceeds repatriation requirements.
The latest manual forms part of broader efforts by the Central Bank of Nigeria to deepen confidence in the foreign exchange market, improve compliance standards and ensure that foreign currency transactions are conducted within a more transparent and accountable regulatory environment.
Over five years, nearly 9,000 teachers and students have participated in the Fair to drive youth engagement in innovation and technology
HONG KONG SAR – Media OutReach Newswire – 4 June 2026 – Organised by the Hong Kong Innovation Foundation (‘HKIF’), the Fifth Hong Kong Science Fair (‘Science Fair’) will take place from 27 to 28 June 2026 at the Hong Kong Convention and Exhibition Centre. The event will showcase around 120 shortlisted teams from primary and secondary schools across Hong Kong, presenting creative inventions that integrate artificial intelligence with a diverse range of technology applications. With Sino Group as Principal Patron, the Innovation, Technology and Industry Bureau of the HKSAR Government (ITIB) as the Supporting Bureau, and the Hong Kong Council for Testing and Certification (HKCTC) as Strategic Partner, HKIF is also honoured to have, for the first time, invited the Foundation for the Development of Science and Technology in China as an Advisory Organisation. Representatives from the Foundation will attend the award ceremony to witness the announcement of this year’s winning teams. Consistently a major draw for the community, the Science Fair is now open for online registration with free admission, and the public is warmly invited to attend in person.
Since its launch in 2021, the Science Fair has attracted participation from over 400 local schools, engaging nearly 9,000 students and teachers from Primary 4 to Secondary 6. To date, more than 2,200 creative invention submissions have been received, and the event has established itself as a key platform for youth I&T exchange.
Following Hong Kong’s first astronaut, Dr Lai Ka-ying, into space, the local innovation and technology ecosystem has attracted even greater attention. This year’s Science Fair has specially incorporated aerospace engineering elements, enabling the public to learn about the daily work and challenges of payload specialists, gain insight into the reality of aerospace research and development, and spark greater interest among young people in space exploration. Dr Lai launched aboard the Shenzhou-23 manned spacecraft and is expected to remain in space for approximately six months to conduct space science experiments and maintenance tasks. Visitors can express their support and encouragement by creating message cards for her. In addition, UBTECH Robotics, a globally leading enterprise in embodied AI robotics, will participate in the exhibition, showcasing multiple humanoid robots and offering visitors the opportunity to experience the appeal of embodied intelligence up close.
Professor Sun Dong, JP, Secretary for Innovation, Technology and Industry of the HKSAR Government, stated: ‘The Hong Kong SAR Government is fully committed to developing Hong Kong into an international innovation and technology (I&T) centre, with talent being a key driver of this growth. Now in its fifth edition, the Hong Kong Science Fair – organised by the Hong Kong Innovation Foundation – has become an annual flagship I&T education event. It offers students a valuable platform to turn their innovative ideas into practice, deepen their interest and confidence in I&T, and help bring I&T into schools and the wider community, thereby fostering a more innovation-friendly atmosphere. I look forward to seeing more young people unleash their potential through this platform, pursue careers in I&T, and contribute to the high-quality development of Hong Kong and our nation.’
Mr Daryl Ng, SBS, JP, Chairman of the Hong Kong Innovation Foundation and Chairman of Sino Group, said ‘Innovation and technology are key to Hong Kong’s long-term sustainable development and are integral to the country’s 15th Five-Year Plan. It is vital for Hong Kong to strengthen its I&T capabilities and actively contribute to national development, as underscored by the historic moment when Dr Lai Ka-ying became Hong Kong’s first astronaut. We are encouraged to see growing recognition of I&T opening up new opportunities for young people aspiring to pursue scientific research. As the Hong Kong Science Fair enters its fifth edition, its growth has been made possible by the support of the HKSAR Government, industry partners, tertiary institutions, research organisations, and our panels of judges. This year, we are grateful for the guidance and support of the Foundation for the Development of Science and Technology in China. Moving forward, the Science Fair will remain committed to nurturing talent from an early age, bringing together all sectors to promote I&T and inspire more young people to pursue careers in science and technology.’
Professor Anderson Shum, MH, Chairman of Judging Panel, Hong Kong Science Fair, President of The Hong Kong Young Academy of Sciences, said, ‘The Science Fair adopts the format of “integrating competition with exhibition,” enabling students to translate their learning into tangible and verifiable outcomes. This plays an important role in nurturing Hong Kong’s youth I&T ecosystem. I am delighted to have served as a judge for this major event over the years, witnessing students progressively enhance their presentation skills, build confidence, and broaden their horizons through exchanges with experts, participation in workshops and showcasing their work to the public. The standard of participating projects continues to improve each year, with increasing integration of artificial intelligence and diverse technological applications across different fields. Scientific research is a journey that demands passion and perseverance, and the growth of young scientists often begins with curiosity during their primary and secondary school years. Through these exchanges, we hope to leverage the role-model influence of young scientists, inspiring more students to pursue I&T as their lifelong career. I look forward to seeing our younger generation continue to grow and excel in scientific research and innovation, and officially join the community of scientists in the near future to jointly drive Hong Kong’s I&T development.’
Mr Michael Tam, Chief Brand Officer of UBTECH, said, ‘Humanoid robots are among the most promising real-world embodiments of artificial intelligence, reflecting a future in which intelligent systems are deeply integrated with the physical world. As a global pioneer in humanoid robotics, UBTECH has remained at the forefront of innovation for more than 14 years, with a long-standing commitment to I&T education. The company is dedicated to translating advanced technologies into practical, accessible educational resources. Through collaboration with like-minded partners such as the Hong Kong Innovation Foundation, we aim to inspire greater interest and engagement among both teachers and students in humanoid robotics and artificial intelligence. We are committed to supporting the development of Hong Kong’s I&T education ecosystem, helping to nurture future-ready talent and build a strong, sustainable foundation for long-term growth.’
Since its launch in 2021, the Science Fair has attracted participation from over 400 local schools, engaging nearly 9,000 Primary 4 to Secondary 6 students and their teachers. To date, more than 2,200 creative invention submissions have been received and total attendance has exceeded 120,000 visitors. The Science Fair has gradually established itself as a key platform for youth innovation and technology (‘I&T’) exchange and one of Hong Kong’s most representative I&T education initiatives. This year’s response has been enthusiastic, with over 500 project submissions received. Following preliminary judging, around 120 shortlisted teams took part in a series of workshops and mentorship sessions, and will present their projects at the exhibition in late June to compete for top awards. Gold award-winning teams from each category will have the opportunity to participate in the International Exhibition of Inventions Geneva in Switzerland, fostering idea exchange with global I&T talents.
The Hong Kong Science Fair draws tens of thousands of visitors each year. During the exhibition period, the venue will be transformed into a catalyst for city-wide I&T inspiration. In addition to student showcases, five interactive zones will offer hands-on experiences, including DIY bubble bath bomb workshops, freezer-free slushie making, themed games celebrating the Science Fair’s fifth anniversary, and modified remote-controlled cars made from upcycled household appliances, allowing visitors of all ages to explore science and innovation through engaging and enjoyable activities.
Bulu Bulu Bubble Factory: Blending science with sensory experiences, visitors can mix and mould from scratch to create a delightful ‘bathroom blind box’.
Shake Shake Ice Factory: Applying the principle of freezing point depression, participants will see how temperature can be rapidly lowered using only salt, ice and water to create personalised slushies — all without a freezer.
Scan2Play: Scan the QR Code on your phone to join the themed game celebrating the Hong Kong Science Fair’s Fifth Anniversary.
Racing Homey Kart 2.0: Showcasing the spirit of upcycling and upgrades, visitors can transform old, small household appliances into remote-controlled racing cars and compete on a dedicated track.
UBTECH Robotics Base: Featuring a wide range of robots, this zone provides a comprehensive showcase of the integration of artificial intelligence with mechanical engineering.
To celebrate the Science Fair’s fifth edition, various special experiences will be introduced. The venue will feature a hidden Science Fair character treasure hunt and check-in activity, through which visitors can redeem curated gifts upon completion. Limited-edition souvenirs, including the ‘HKSF-5 Metal Standee Collection’ and the ‘Special Edition Robo K’ blind boxes, will also be available in limited quantities. All proceeds from the HKSF Bazaar, with no deduction, will go directly to charity to support local community technology initiatives.
The Fifth Hong Kong Science Fair Details:
Date: 27 to 28 June 2026 (Saturday and Sunday)
Time: 10:00 am to 6:00 pm
Venue: Hong Kong Convention and Exhibition Centre, Hall 3FG
Admission: Free of Charge (Pre-registration online is required)
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Nigeria has recorded 20 major school kidnapping incidents since 2014, with a total of 1,954 students abducted across the administrations of former Presidents Goodluck Jonathan and Muhammadu Buhari, as well as the current government led by President Bola Tinubu, according to newly compiled data.
The figures highlight the scale of a security challenge that has increasingly targeted educational institutions over the past decade, disrupting learning, forcing school closures, and raising concerns about student safety in several parts of the country.
The crisis first gained global attention in April 2014 when 276 schoolgirls were abducted from a secondary school in Chibok, Borno State. The incident sparked international outrage and led to the worldwide #BringBackOurGirls campaign, placing Nigeria’s school security challenges under intense scrutiny.
Brandspur Politics reports that data compiled by Statisense, citing findings published by Premium Times, shows that the administration of former President Goodluck Jonathan recorded one major school kidnapping incident involving 276 students between 2010 and 2015.
The highest number of school abductions occurred during the administration of former President Muhammadu Buhari. Between 2015 and 2023, Nigeria recorded 10 major school kidnapping incidents involving 1,127 students. The period saw attacks spread beyond the North-East into several North-West and North-Central states, with multiple mass abductions reported from schools in Kaduna, Katsina, Niger and Zamfara states.
Under President Bola Tinubu’s administration, nine major school kidnapping incidents involving 551 students have been recorded between 2023 and May 2026. Although the total number of abducted students is lower than that recorded during the previous administration, the incidents indicate that attacks on educational institutions remain a significant security concern.
Security experts have repeatedly warned that repeated attacks on schools could undermine educational development, particularly in vulnerable communities where parents may become reluctant to send children to school due to safety fears.
The recurring incidents have also prompted federal and state authorities to strengthen school protection measures through initiatives aimed at improving security infrastructure, intelligence gathering and emergency response capabilities around educational institutions.
While many abducted students have eventually regained their freedom through rescue operations, negotiations or other interventions, the psychological and educational impact of the attacks continues to affect victims, families and communities long after the incidents occur.
The latest figures bring the total number of students kidnapped in major school abduction incidents since 2014 to 1,954 across 20 separate attacks, underscoring the persistent challenge of safeguarding schools and ensuring uninterrupted access to education across Nigeria.
Nigeria’s university sector has witnessed notable shifts in the latest 2026 global rankings, with the University of Ibadan emerging as the country’s highest-ranked institution, while several federal and private universities recorded significant improvements in their national standings.
The latest assessment, based on internationally recognised performance indicators covering teaching quality, research output, industry collaboration, global outlook, and academic impact, highlights increasing competition among Nigeria’s leading tertiary institutions as they seek greater global relevance.
The 2026 rankings reveal a mix of established institutions maintaining strong performances and emerging universities breaking into the country’s elite academic circle. Several universities improved their positions compared to previous years, while others experienced declines amid growing competition.
According to the latest ranking results, the University of Ibadan climbed to first place nationally after occupying second position in the previous assessment. The institution, widely regarded as Nigeria’s oldest university, strengthened its standing through its extensive academic programmes, postgraduate research activities, and long-established reputation.
Brandspur Politics reports that the University of Lagos also recorded a significant rise, moving from fourth position to second place. The Lagos-based institution continues to attract attention for its research contributions, academic excellence, and strategic location within Nigeria’s commercial hub.
Bayero University, Kano secured third position, marking one of the most notable improvements in the rankings. The university’s performance reflects growing recognition of its academic programmes and research activities across multiple disciplines.
Private institutions maintained a strong presence among the nation’s top-performing universities. Covenant University ranked fourth despite dropping from the top spot it previously occupied, while Landmark University achieved fifth place after entering the top tier of the rankings for the first time.
Ahmadu Bello University, Zaria, secured sixth position, reinforcing its reputation as one of the largest and most influential higher education institutions in sub-Saharan Africa. The university continues to play a major role in teaching, research, and community development.
The Federal University of Technology, Minna, ranked seventh, reflecting increasing recognition for its focus on science, engineering, and technological innovation. The institution’s entry into the top 10 highlights its growing academic influence within Nigeria’s education sector.
The University of Ilorin placed eighth, despite slipping from its previous ranking. The institution remains one of Nigeria’s most respected universities, known for academic stability and uninterrupted academic calendars.
The University of Jos emerged in ninth position after breaking into the top 10, signalling improved academic performance and visibility. The university’s rise underscores its expanding role within Nigeria’s higher education landscape.
Completing the top 10 list is the University of Nigeria, Nsukka, which remains one of the country’s most recognised universities despite falling from its previous position. Founded by Nigeria’s first President, Nnamdi Azikiwe, the institution continues to maintain a strong academic reputation.
The 2026 rankings underscore the increasing competitiveness of Nigeria’s university system, with institutions investing more heavily in research, academic quality, innovation, and international engagement to strengthen their positions both nationally and globally.
The top 10 universities in Nigeria for 2026 are: University of Ibadan, University of Lagos, Bayero University Kano, Covenant University, Landmark University, Ahmadu Bello University, Federal University of Technology Minna, University of Ilorin, University of Jos, and the University of Nigeria, Nsukka.
The Nigerian Electricity Regulatory Commission (NERC) has introduced the Net Billing Regulations 2026, creating a new framework that enables eligible electricity consumers to generate power for their own use and sell excess energy back to electricity distribution companies (DisCos).
The regulation is expected to accelerate the adoption of distributed renewable energy systems, particularly rooftop solar installations, while providing households, businesses and institutions with an opportunity to earn credits or compensation for surplus electricity supplied to the national grid.
The new framework represents a significant step in Nigeria’s ongoing efforts to diversify electricity generation sources and improve energy access through decentralised power solutions. It also aligns with broader reforms aimed at strengthening the country’s electricity market and encouraging greater private-sector participation in energy generation.
According to Brandspur Brand News, the Net Billing Regulations establish the legal and operational structure through which qualified customers can connect embedded generation systems to distribution networks and export unused electricity to their serving DisCos.
Under the arrangement, consumers with approved renewable energy systems will be able to offset part of their electricity costs by supplying excess power generated during periods of low consumption. The initiative is expected to be driven largely by solar energy installations, which have witnessed increasing adoption across Nigeria amid persistent grid challenges and rising demand for alternative power sources.
Industry experts view net billing as a critical policy tool for expanding renewable energy deployment because it improves the financial viability of solar investments. By allowing consumers to monetise surplus generation, the framework creates an additional incentive for households and businesses to invest in clean energy technologies.
The regulation also supports Nigeria’s broader energy transition objectives by encouraging greater use of renewable energy while reducing pressure on the conventional electricity supply system. Increased distributed generation could help improve grid resilience and reduce dependence on diesel and petrol-powered generators that remain widely used across the country.
For distribution companies, the framework offers access to additional sources of electricity generated closer to consumption centres, potentially reducing transmission-related losses and supporting more efficient energy management within their networks.
Nigeria has witnessed growing interest in solar power solutions in recent years as consumers seek reliable alternatives to unstable grid supply. The declining cost of solar technology and battery storage systems has further contributed to increased adoption among residential, commercial and industrial users.
The introduction of the Net Billing Regulations 2026 places Nigeria among a growing number of countries implementing policies that allow electricity consumers to become active participants in power generation rather than remaining solely end-users of electricity.
As implementation begins, stakeholders across the energy sector will be closely monitoring participation levels, investment flows and the impact of the new framework on renewable energy adoption, electricity access and long-term power sector sustainability in Nigeria.
Nigeria’s digital inclusion drive has received a major boost after China Industrial Bank pledged support for the Nigeria Universal Communication Access Project (NUCAP), a nationwide initiative designed to extend telecommunications services to more than 20 million Nigerians living in underserved communities.
The project is expected to accelerate connectivity across rural and riverine areas through the deployment of 3,700 modern telecommunications towers, addressing longstanding gaps in network coverage and access to digital services in parts of the country that remain largely disconnected.
The latest commitment was announced by Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, following discussions with a delegation from China Industrial Bank led by senior executives of the institution. The development marks a significant milestone for Nigeria’s efforts to expand broadband penetration and strengthen digital infrastructure nationwide.
According to Brandspur Brand News, the Chinese lender has indicated its readiness to support the rollout of at least 1,000 telecommunications tower sites before the end of 2026, providing a substantial boost to the implementation of NUCAP and Nigeria’s broader digital economy strategy.
The project is expected to create new opportunities for millions of residents in previously unconnected communities by improving access to internet services, digital financial platforms, online education, healthcare solutions and e-commerce activities.
Government officials have consistently identified connectivity as a critical enabler of economic growth, noting that limited telecommunications infrastructure continues to hinder social and economic development in many rural areas across the country.
The NUCAP initiative is being developed as a green telecommunications network, incorporating modern infrastructure designed to extend communication services to locations that have historically lacked reliable access to mobile and broadband connectivity.
The investment also represents China Industrial Bank’s first major financing engagement in Nigeria, a move that highlights growing international interest in the country’s digital transformation agenda and telecommunications sector.
Nigeria has intensified efforts to close its digital divide as demand for internet services continues to expand across urban and rural markets. Broadband access has become increasingly important for education, government services, business operations and financial inclusion.
The latest development builds on earlier government plans to deploy thousands of telecommunications towers nationwide. In 2025, authorities announced an ambitious programme targeting 7,000 new towers to improve coverage and strengthen network infrastructure across underserved regions.
Industry stakeholders are also investing heavily in network upgrades. The Nigerian Communications Commission recently disclosed that telecom operators have committed to upgrading approximately 12,000 network sites in 2026, a significant increase from the infrastructure enhancements recorded in the previous year.
These upgrades include additional spectrum deployment, capacity expansion and the migration of legacy network infrastructure to newer 4G and 5G technologies, all aimed at improving service quality and supporting rising data consumption.
As Nigeria seeks to deepen digital inclusion and expand broadband access, the partnership between China Industrial Bank and the Federal Government is expected to play an important role in connecting millions of citizens, supporting economic participation and advancing the country’s long-term digital economy objectives.
Lab-grown chocolate is moving closer to commercial reality, with global confectionery giant Mondelez International advancing plans to bring products made with cell-cultured cocoa ingredients to market by 2027 as the industry grapples with soaring cocoa prices, climate-related supply disruptions and growing sustainability pressures.
The company, which owns globally recognised brands including Oreo, Cadbury and Toblerone, has emerged as one of the most prominent corporate backers of cellular agriculture in the cocoa sector through its partnership with Israeli biotechnology firm Celleste Bio. The collaboration is focused on producing cocoa ingredients in controlled bioreactor facilities rather than relying entirely on traditional farming.
A major milestone was achieved in April 2026 when Mondelez successfully manufactured what has been described as the world’s first milk chocolate bars made with cell-cultured cocoa butter. The prototype products reportedly met internal standards for taste, texture and overall product performance, demonstrating that laboratory-produced cocoa butter can function in commercial chocolate production.
According to Brandspur Brand News, the breakthrough comes at a time when chocolate manufacturers worldwide are facing one of the most severe cocoa supply challenges in decades. Adverse weather conditions, crop diseases and ageing plantations across major cocoa-producing countries have significantly reduced output and contributed to unprecedented volatility in global cocoa markets.
Celleste Bio’s technology begins with cells extracted from a cocoa bean. These cells are cultivated in nutrient-rich bioreactors where they multiply and produce cocoa components that can later be processed into cocoa butter. The company says a single cocoa bean can ultimately support production volumes that would traditionally require substantial farmland, highlighting the technology’s potential efficiency gains.
Industry interest in alternative cocoa production has intensified following a sharp rise in cocoa prices over the past two years. Global chocolate manufacturers have faced mounting pressure from reduced harvests in West Africa, the region responsible for the majority of the world’s cocoa supply. Climate variability, prolonged heat waves, excessive rainfall and plant diseases have all affected yields, raising concerns about the long-term stability of conventional cocoa farming.
Supporters of cultivated cocoa argue that the technology could help stabilise supply chains, reduce dependence on unpredictable harvest cycles and lower exposure to environmental risks. They also point to potential benefits in reducing deforestation pressures associated with agricultural expansion and improving traceability within global cocoa supply networks.
The commercialisation process, however, remains subject to regulatory approval. Celleste Bio is reportedly preparing submissions for food safety reviews in key markets including the United States, the United Kingdom, Israel and the European Union before products can be widely sold to consumers.
Consumer acceptance is expected to become one of the industry’s biggest tests. While developers maintain that cell-cultured cocoa butter is chemically equivalent to conventionally produced cocoa butter and delivers the same sensory characteristics, some consumers remain cautious about laboratory-produced food ingredients and their role in mainstream food production.
The emergence of cultivated cocoa also raises broader questions for major cocoa-producing nations, including those in West Africa, whose economies and farming communities depend heavily on cocoa exports. Industry observers note that large-scale adoption of alternative cocoa technologies could eventually reshape global supply chains, although traditional cocoa farming is expected to remain a significant source of supply for the foreseeable future.
Beyond cultivated cocoa, several food technology companies are also developing cocoa-free chocolate alternatives using ingredients such as fermented grains, sunflower seeds and other plant-based raw materials. However, cultivated cocoa differs from these approaches because it is designed to produce genuine cocoa-derived ingredients rather than substitutes intended to mimic chocolate flavour.
With pilot-scale facilities now under development and commercial production targets set for 2027, the chocolate industry appears to be entering a new phase where biotechnology could play a growing role alongside traditional agriculture. Whether consumers embrace the innovation remains uncertain, but the race to secure future cocoa supplies is increasingly pushing major manufacturers toward scientific alternatives once considered experimental.
Standard Chartered emerged as the leading financial institution facilitating capital inflows into Nigeria during the first quarter of 2026, accounting for $4.41 billion in imported capital, according to data compiled from the National Bureau of Statistics (NBS) and TheCable Index.
The latest figures show a significant gap between the top-ranked lender and other institutions, underscoring Standard Chartered’s dominant role in attracting foreign investment transactions into Africa’s largest economy during the three-month period.
Stanbic IBTC followed as the second-largest channel for capital importation, recording $2.78 billion in inflows, while Rand Merchant Bank secured third position with $930.82 million. Citibank and Access Bank completed the top five rankings with capital importation volumes of $782.84 million and $710.03 million respectively.
Analysis by Brandspur Banking News Desk indicates that international banks and institutions with strong foreign investor networks continued to play a major role in facilitating cross-border investment flows into Nigeria amid ongoing efforts to attract foreign capital and support economic growth.
First Bank ranked sixth with $274.74 million in imported capital during the quarter. GTBank followed with $107.11 million, while Zenith Bank recorded $69.33 million. FCMB and Ecobank rounded out the top ten positions with inflows of $64.97 million and $62.06 million respectively.
The ranking highlights the concentration of foreign investment transactions among a relatively small number of financial institutions that maintain extensive international banking relationships and correspondent networks.
Capital importation remains a closely monitored economic indicator in Nigeria, reflecting investor confidence and the level of foreign funds entering the country through channels such as portfolio investments, foreign direct investment and other investment categories.
The strong performance recorded by Standard Chartered and Stanbic IBTC contributed significantly to overall capital inflows during the first quarter, with both institutions accounting for the majority of transactions among the top ten banks.
Financial analysts continue to monitor capital importation trends as policymakers seek to strengthen foreign exchange liquidity, support private sector investment and improve Nigeria’s attractiveness as a destination for international capital.
The Q1 2026 rankings provide an early indication of how foreign investors are accessing the Nigerian market through banking institutions, with global and internationally connected lenders maintaining a dominant presence in the capital importation landscape.
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