Bismarck Rewane, renowned economist and chief executive officer of the Financial Derivatives Company,  has warned that the recent outbreak of the tomato leaf miner, commonly referred to as “Tomato Ebola,” is a disruption to Nigeria’s agriculture value chain.

Bismarck Rewane, CEO, Financial Derivatives Company

Speaking on Channels Television’s Business Morning programme on Thursday, Rewane emphasised that the impact of the outbreak extends far beyond tomatoes, triggering a cost ripple effect across the broader food basket.

“The effect of an increase in the price of tomatoes leads to cost elasticity which means that the price of other substitutes will begin to increase, including the price of carrots, the price of tomato paste, price of tomato puree and other things.

“One  for the reddening, two for the effect and the  thickening on the sauce you’re making.

“However, because tomato is a perishable commodity, it also means that  if there is tomato ebola, then the price has increased, and also the supply has reduced, it has a knock-on effect on so many other things,” Rewane explained.

He added that Nigeria’s lack of food storage and preventive mechanisms has worsened the crisis, causing severe supply chain disruptions.

Rewane’s comments come amid a sharp increase in the price of tomatoes, with a 50-kilogramme basket of the commodity which used to sell for N5,000, now selling for N10,000 to N30,000, thereby compounding food inflation and straining household budget.

The Federal Government said Nigeria has so far lost over N1.3 billion to the outbreak of the invasive pest in key tomato-producing states like Kano, Katsina, and Kaduna.

Abubakar Kyari, minister of Agriculture and Food Security, explained that the outbreak has significantly disrupted tomato supply chains, causing a surge in prices.

He noted that the outbreak of tomato Ebola highlights the fragile nature of Nigeria’s horticultural systems, and that the invasive pest can destroy tomato crops within 48 hours, resulting in catastrophic yield losses.

He added that this crisis highlights the urgent need for integrated pest management strategies, investment in resilient crop varieties, and enhanced support for farmers to safeguard the country’s food supply chains.

A Federal High Court sitting in Lagos has adjourned the N12.3 billion loan controversy case involving the Chairman of Honeywell Group, Oba Otudeko, and three others, to June 11, 2025.

Oba Otudeko,

Justice Chukwujekwu Aneke postponed the case to allow time for either a peaceful settlement or the formal arraignment of the suspects.

The decision followed reports that negotiation are still ongoing between the parties involved for out-of-court settlement as advised by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), who is trying to mediate.

During Thursday’s hearing, Otudeko’s lawyer, Bode Olanipekun (SAN), told the court that negotiations for an out-of-court resolution were still in progress.

Similarly, the lawyer for the Economic and Financial Crimes Commission (EFCC), Bilikisu Buhari, acknowledged the discussions but asked the court to set a new date for arraignment in case the negotiations fail.

It will be recalled that at the last sitting of the court on March 17, Chief Wole Olanipekun (SAN) had informed the judge that a meeting involving all counsel had been convened at the instance of the Attorney General of the Federation.

He said that this was aimed at reaching a peaceful settlement of the case.

Olanipekun had also stated that substantial progress was made, and the AGF directed all parties to refrain from actions that could jeopardize the resolution process, including filing further applications.

The court will reconvene on June 11 to hear the outcome of the settlement talks or proceed with the arraignment if no agreement is reached.

The Zamfara State government has signed an agreement with Oracle to invest in youth development, workforce capacity building and the digital economy under Oracle University’s Skills Development Initiative (SDI).

The agreement was signed at Oracle’s Offices in London, United Kingdom, with Governor Dauda Lawal representing the Zamfara State government.

A statement on Wednesday by the Governor’s spokesperson, Sulaiman Bala Idris, explained that the development will foster collaboration between the Zamfara Information and Technology Development Agency (ZITDA) and Oracle.

Secretary to the State Government, two Special Advisers and the Executive Secretary of ZITDA were also present at the event, along with Siobhan Wilson, Oracle UK Country Leader and Senior Vice President, EMEA.

The statement said, “Zamfara State government has signed a strategic agreement with Oracle to drive digital skills development across the state.

“Facilitated through the Zamfara Information Technology Development Agency, the collaboration will use the expertise and learning services of both Oracle Academy and Oracle University in their digital transformation efforts.

“The collaboration signifies a commitment to education and a strategic investment in the future of Zamfara’s youth, workforce and digital economy.

“Oracle Academy, Oracle’s global philanthropic educational programme offers a robust portfolio of technology education teaching and learning resources, including curriculum and software access, to educators and students worldwide.

“With the support of the Zamfara Information Technology Development Agency, these resources will be made available to validate higher education institutions across Zamfara.

“ZITDA will help lead efforts to integrate Oracle Academy offerings into Zamfara’s higher education curriculum, equipping educators with the tools and resources they need to guide students in learning hands-on tech skills and toward Oracle’s professional certifications and foster a new generation of tech-savvy leaders.

“In addition, Oracle University’s Skills Development Initiative, a global programme that provides access to world-class learning and certification programmes at no cost to eligible learners, will further expand opportunities for learners in Zamfara.

“Through a co-branded Learning Portal in collaboration with ZITDA, Oracle University plans to provide free access to digital learning paths and foundational certifications for eligible participants across Zamfara. This includes curated learning journeys offering over 200 hours of professional-level training in high-demand areas such as Cloud, AI, Data Science and APEX development.”

In his remarks at the ceremony, Governor Dauda Lawal restated that the collaboration with Oracle is part of his administration’s commitment to transforming Zamfara into a hub of innovation, education, and digital excellence.

He said, “on behalf of the government and the good people of Zamfara State, I extend my deepest appreciation to Oracle for believing in our vision and for partnering with us on this transformative journey.

“What we are doing today goes beyond technology, it is about giving hope, creating opportunities and unlocking the future. By investing in digital education and innovation, we are offering real alternatives to poverty, to joblessness and to despair. I sincerely thank Oracle for standing with us, believing in the power of partnership, purpose, and shared dreams.

“Today, we are not just signing a document, we are making a promise, promise that every child in Zamfara will have a fair chance to dream, to learn, and to succeed. A promise that technology will be our bridge to a stronger, more inclusive economy. And, a promise that Zamfara will not merely participate in the digital revolution, we will lead it.”