Business
Muslim Leaders Create Market in Lagos to Make Food More Affordable for Residents
Muslim scholars in Mushin, Lagos, under the League of Islamic Leaders, have launched an initiative called the Market of Convenience (MFC) to provide food items at more affordable prices.
The market, designed to ease the financial burden on Lagos residents, particularly Muslims, aims to serve as a community-driven solution to Nigeria’s rising economic challenges.
During a one-day sensitization program in Lagos, the Convener and Chairman of the MFC initiative, Alhaji Musoddiq Sanni, called on religious leaders to support the project.
He emphasized that the market was created to offer an alternative shopping experience for essential food items while promoting fairness in trade.
Sanni explained, “This market is not just about selling food; it’s about creating an avenue where justice and fairness in business transactions, as instructed by Allah in the Qur’an, are upheld.”
The MFC, which has been officially registered with the Corporate Affairs Commission and the Lagos State Ministry of Agriculture, represents a significant step toward addressing the economic hardship faced by many Nigerians.
Sanni mentioned the importance of establishing branches of the market across Lagos, including in Ikeja, to expand access to affordable food items.
He encouraged religious leaders in Ikeja to replicate the model in their communities, emphasizing that such initiatives align with the values of the Muslim community.
Alhaji Sulaimon Olanijo, Chairman of the League of Islamic Leaders in Mushin, added that the market could significantly alleviate the difficulties many Muslims face when purchasing food.
He urged other Muslim organizations to adopt the MFC system, stating that collaboration among Islamic groups could help realize the dream of establishing similar markets nationwide.
Olanijo also noted that this initiative supports the Federal Government’s push for food security.
The importance of cooperative societies was another key focus during the program.
Sanni mentioned that the League of Islamic Leaders is developing a detailed operational blueprint to ensure the market adheres to Islamic principles (Sharia) while remaining accessible to all.
He stated, “The idea of cooperation and collective effort is essential in our faith, and the MFC is a manifestation of that principle.”
Alhaji Abdul-Rahmon Abdul-Azeez, Chairman of the Council of Imams in Ikeja Division, commended the initiative, noting that it comes at a time when food prices have skyrocketed, leaving many struggling to meet their basic needs.
He added that the MFC has the potential to significantly reduce the cost of living if its model is widely embraced.
Business
Dangote Refinery Increases Petrol and Diesel Prices
It has been noted that there is now an increase in fuel all around Nigeria, from … to 1000 plus in fuel stations.
It was also noted that Dangote Petroleum Refinery increased the price to 1,175 per litre and diesel has been increased to 1,620 per litre.
This new spike in fuel increase has caused Nigerians to lament widely, wondering why this change happened all of a sudden.
Business
10 Businesses to Invest in 2026: Best Sectors, Stocks, and Companies to Watch
- MTN Nigeria Communications Plc (MTNN) – Strong telecom growth and 5G expansion.
- Dangote Cement Plc (DANGCEM) – Leading cement maker benefiting from infrastructure demand.
- Guinness Nigeria Plc (GUINNESS) – Consumer stock with solid turnaround potential.
- Okomu Oil Palm Plc (OKOMUOIL) – Agriculture stock tied to palm oil demand.
- Seplat Energy Plc (SEPLAT) – Energy player with gas and oil sector exposure.
- Zenith Bank Plc (ZENITHBANK) – Tier-1 bank with strong financial performance.
- Guaranty Trust Holding Company Plc (GTCO) – Leading bank with diversified revenue streams.
- Presco Plc (PRESCO) – Palm oil producer with export and dividend potential.
- NASCON Allied Industries Plc (NASCON) – FMCG stock with strong fundamentals.
- Aradel Holdings Plc (ARADEL) – Growing energy sector stock with upstream exposure.
Business
BATNF, NYSC Collaborate to Promote Agribusiness Among Corps Members
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
-
News3 hours agoOutrage as Officials Travel with President Tinubu During Crisis
-
Entertainment2 hours agoActor Kehinde Olasehinde “Pa James” Opens Up on Career Struggles
-
Sport1 hour agoJoleon Lescott Backs Arsenal Ahead of Sporting Clash
-
Sport34 minutes agoPaul Merson Advises Mikel Arteta Ahead of Sunday’s Match
