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Showing posts with the label Banks

Nigeria to benefit from the 50m euros EU fish fund – EU official

Nigeria and other ECOWAS countries will benefit from the 50 million-euro European Union (EU) fund set up to ensure sustainable fisheries development and marine security, an EU official says. Mrs Stefania Marrone, Head of Regional Cooperation Section in the EU Delegation to Nigeria and ECOWAS, said this in an interview in Abuja on Tuesday. Marrone spoke on the sidelines of the meeting on “Regional Policy Process for the Development of ECOWAS Fisheries and Aquaculture Regional Policy and Strategy Frame Work of ECOWAP’’. She said that the programme would be implemented in various West African countries within a six-year period. The EU official said that the funding arrangement would strengthen governance and management of fisheries in the ECOWAS region. She said that it would also improve the handling of landed catch in major ports and other selected sites to reduce post-harvest wastage and increase fishermen’s earnings. She said that the programme, being financed by the ...

FAO, AfricaRice commence training of 300 farmers on rice seeds production

ABUJA- THE Food and Agriculture Organisation, FAO, and Africa Rice Centre (AfricaRice),have commenced training of 300 community based rice farmers on quality rice seeds production to boost yield and consumption. This was disclosed by the FAO Deputy Representative to Nigeria, Nourou Macki, who said it has become necessary to build the capacity of farmers on production of quality rice seed, which will be for youths and women, and also rice seeds producers. According to Macki the training being conducted was under the Partnership for Sustainable Rice Systems Development in Sub-Saharan Africa agreement between FAO and AfricaRice. The trainees are drawn from six states, which include Ekiti, Edo, Anambra, Abia, Nassarawa and Jigawa for the project, which 50 participants will benefit from the training in each state and also demonstration plots and backstopping mission established as part of sustaining the project. It will facilitate the emergence of efficient rice productio...

16m farmers to be captured in FG biometric data base—BOA boss

The Federal Government says it will capture no fewer than 16 million farmers in a new biometric database to enable them benefit from intervention packages during the 2017 cropping season. The Managing Director of the Bank of Agriculture, Prof. Danbala Danju, said this on Sunday while signing a Memorandum of Understanding (MoU) for Public Private Partnership (PPP) with Trans- Sahara Consortium, Nigeria. Danju said the Federal Government would ensure that the registered farmers received all the needed inputs and loan facilities in record time to enhance production. He said that the move would effectively address the challenge of food security, tackle poverty and create employment opportunities for more Nigerian farmers. “The two parties agreed to capture at least 16 million farmers into alternative multi-application payment system for farmers to access loans and conduct all their agro-businesses within their farms,’’ he said Sen. Saminu Turaki, w...

FG to restructure BoA for efficient service delivery–Ogbe

The Federal Government on Tuesday says it will restructure the Bank of Agriculture (BOA), to support the diversification programme of the present administration. The Minister of Agriculture, Chief Audu Ogbe gave the hint at the launch of Capacity Building and Institutional Strengthening of Bank of Agriculture in Kaduna. Represented by Mr. Godwin Obinna-Opara, an official of the ministry, Ogbe said the present administration had approved the restructuring aimed at strengthening the bank for optimal service delivery to farmers. According to the minister, restructuring, re-capitalising and repositioning of BOA is one of such programmes President Muhammadu Buhari has given his approval. He said the bank remains key instrument required for funding agricultural activities to help diversify the economy and move away from over reliance on oil. “At no other time in the history of Nigeria that government had taken such interest and time to assess the operations of BO...

BOA gets $1.1m AfDB grant for staff capacity building

The Bank of Agriculture says it has secured 1.118 million dollars grant from the African Development Bank (AfDB) for its capacity building and institutional strengthening projects. In a statement made available on Tuesday in Kaduna, Oluremi Olaoye, the Corporate Communication Manager of the bank, said the projects would enable the bank to sufficiently serve the Nigerian rural dwellers’ financial needs. According to Olaoye, AfDB will to provide 987,510.30 dollars, or 88.12 per cent of the amount, while the bank of would provide 130,997.03 dollars or 11.88 per cent as matching grant. The grant would be used to finance programmes that would lead to the expansion of the bank’s target clientele, which is currently small due to low institutional capacity. The grant is being provided through the AfDB’s Middle Income Countries Technical Assistance Fund (MIC-TAF) to strengthen the BOA. “The grant is to support BoA in its restructuring phase, in order to provide imp...

Nigerian coy partners USAID on animal feeds production

Mr Kola Adeniji, the Managing Director of Niji Group, says his company is collaborating with USAID to process and produce animal feeds from cassava peels in the country. Niji Group is a conglomerate that engages in sales and fabrication of farm equipment, farming, agro-allied services and food processing, while United States Agency for International Development (USAID) is the U.S. government agency that is primarily responsible for administering civilian foreign aid. Adeniji disclosed on Tuesday that the partnership would help to reduce the over-dependence on cassava for animal feeds and guarantee sufficient production of the crop for human consumption. He said that the company was also collaborating with All Farmers Association of Nigeria (AFAN) to set up three processing centres to facilitate the processing of cassava peels into both poultry and animal feeds. According to him, a farm, owned by Niji Group, generates between 20, 000 and 25,000 tonnes of cassava wast...

Dangote to inaugurate 25,000 hectres rice outgrower scheme in Sokoto

Dangote Rice, a subsidiary of Dangote Group is set to launch a 25,000 hectares of rice outgrower scheme with a prospect of creating employment opportunities for rural communities in Sokoto. A statement issued by Mr Francis Awowole-Browne, the Head of Media, Dangote Rice, said President of the Group, Aliko Dangote would on Wednesday inaugurate the pilot project of 500 hectres at Gonroyo Dam, in Goronyo community. Awowole said that the inauguration which would be performed by Governor Aminu Tambuwa would witness seedlings being distributed to both primary local farmers. According to him, the company plans to purchase harvested rice from the farmers under the Outgrower’s programme for milling and final processing at Dangote Rice mills. The head of media noted that through the Dangote Rice Outgrower Scheme, the company would partner with smallholder rice farmers to cultivate and grow rice paddy. “ The company will provide inputs, technical assistance, extension services and...

Cereal prices continue to rise, defying improved supplies FAO Food Price Index rebounds, approaching two-year highs

The FAO Food Price Index rose notably in January, led by sugar and cereals, even as global markets remain well supplied. The FAO Food Price Index averaged 173.8 percent in January, its highest value in almost two years, marking a 2.1 percent increase from its revised December value and 16.4 percent above its 2016 January level. The FAO Sugar Price Index surged 9.9 percent in the month, driven by expectations of protracted supply tightness in Brazil, India and Thailand. The FAO Cereal Price Index rose 3.4 percent from December to a six-month high, with wheat, maize and rice values all increasing. Wheat markets reacted to unfavourable weather conditions hampering this season's crops as well as reduced plantings in the United States of America, while higher maize prices mostly reflected strong demand and uncertain crop prospects across South America. International prices of rice also rose, in part due to India's ongoing state procurement programme, reducing the quantit...

Expert urges Nigeria to adopt Songhai agric model to boost food security, fight poverty

An agriculturist, Prof. Godfrey Nzamujo, on Thursday urged the three tiers of government in the country to adopt the Songhai model of agriculture to boost food security and fight poverty. Nzamujo, speaking in Abuja, said that the Songhai model, which involved integrated farming, should be adopted because of its capacity to boost agricultural productivity considerably. He said that the government should change its approach in its efforts to achieve the Sustainable Development Goals (SDGs), adding that it should adopt the Songhai model, which relied on the use of God-given resources, to accomplish this target. He said that the Songhai model had demonstrated that with deliberate investment in agriculture, Nigeria would be able to increase its revenue and reduce its dependence on petroleum as its sole foreign exchange earner. Nzamujo said that the Songhai model was an innovative approach that could be used to tackle challenges, such as food insecurity and poverty, enviro...

FG sets up 21-man committee to restructure, recapitalise Bank of Agriculture

The Federal Government has set up a 21-man steering committee to restructure and recapitalise the Bank of Agriculture (BOA). Inaugurating the committee in Abuja on Monday, Vice President Yemi Osinbajo, urged the committee to work within a record time to actualise the goal. He said the restructuring was aimed at revitalising the operations of the Bank to make it more responsive to its mandate. Osinbajo, represented by Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, said the restructuring, would strengthen the bank as a platform for providing loans to Small and Medium Enterprise (SME) farmers and cooperatives among others. He said the approach was a pre-privitisation strategy preferred by the Federal Government to pave way for the injection of financial and other requisite resources into the Bank. “It is noteworthy that in its over 20 years of existence, the BoA has faced myriad of challenges which include, poor funding, poor stakeholder...

Bird flu claims 3.5 million birds in 26 states, FCT- FG

Bird flu claims 3.5 million birds in 26 states, FCT- FG ... Summons State agric commissioners ABUJA- THE Federal Government yesterday, disclosed that bird flu has claimed 3.5 million birds in 26 states and the Federal Capital Territory, FCT, so far. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, made the disclosure in his address of welcome during a consultative meeting with commissioners of Agriculture/Livestock, state directors of veterinary services and major stakeholders in the poultry industry in Abuja. Ogbeh who described the situation as threat to the poultry industry and said losses in the industry unacceptable as he personally feels the pain of affected farmers. He said: “Our meeting today is necessary in order to restore the poultry industry to its past glory as a major source of livelihood of our people, diversify the economy and avert food security crisis and possible spill over to humans. “You may recall that the first outbreak of bir...

Benue Govt. urges farmers to form cooperatives to access loans easily

Benue Government has advised farmers in the state to form cooperative societies in order to benefit from the N3 billion loan accessed by the state. Mr Adzer Abya, Special Adviser to Gov. Samuel Ortom on Rural Development and Cooperative, gave this advice while interacting with newsmen in Makurdi on Thursday. According to him, they can only benefit from the loan when they form and register their cooperative societies. “Form yourselves into group to form a cooperative society, then register with the Bureau for Rural Development and Cooperatives; that registration was one of the steps that could aid them to access loans easily. “After the registration, I advise you to open accounts with Bank of Agriculture (BoA) because, it was the only medium that could issue out loans to farmers on behalf of government.” The governor’s aide said that Gov. Samuel Ortom in his usual manner of magnanimity had decided to wave five per cent interest. Abya stressed that inste...

FG procures 500 rice harvesters, threshers to boost production

The Federal Government has procured no fewer than 500 rice harvesters and threshers to reduce post harvest losses and achieve self sufficiency in rice production by 2018. Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, made this known while speaking with newsmen in Abuja on Thursday. Ogbeh said that the government had only taken delivery of 80 of the harvesters, adding that the remaining 420 would be delivered before April. He said the harvesters that would cost about N1.7 million each, would be manned by trained personnel in states. Ogbeh also noted that the rice threshers which were produced locally would cost between N800, 000 and N900, 000 each. The minister, who said that Kebbi have procured some of the machines, noted that Ebonyi and Jigawa States have also indicated interest to acquire the machines. According to him, if we have these machines in rice and wheat farms, the cost and stress of rice farming will reduce by 80 per cent. ...

Wheat production: Kaduna to cultivate 10,000 hectares, says official

The Kaduna State Government says it has commenced the cultivation of 10,000 hectares of land for wheat production in the state. Alhaji Sabi’u Sani-Isma’ila, Executive Secretary, Kaduna State Industrialisation and Micro-Credit Management Board, told journalists at the farm that the project would create 10,000 jobs for youths. The Executive Secretary spoke on Thursday shortly after inspecting the project at Gagara Kutare in Kubau Local Government Area of the state. Sani-Isma’ila told NAN that the project would strengthen national food security, facilitate import substitution, enhance job creation and wealth creation for self-reliance in rural communities. “The thinking of the new administration is to reduce rural poverty, curb unemployment by creating job opportunities for the youths and at the same time support national food security. “This can be achieved through the use of our God-given resources of fertile land, water resources and youthful population. “That is why w...

Nigeria can meet tea, coffee demands of citizens — Lawmaker

A lawmaker, Sen. Abubakar Yusuf, representing Taraba Central Senatorial District, said Nigeria had the capacity to meet the tea and coffee demands of the country if it had the right policies. The lawmaker said this at a news conference in Jalingo on Wednesday to mark his one year at the Senate. Yusuf said a bill to ensure tea and coffee policy for the country was in the pipeline. According to him, tea and coffee potential of the Mambilla plateau of Taraba will comfortably meet the national demand for the products and even earn the nation foreign exchange. He explained that the country’s current demand for tea was about 10 million tonnes per annum and it currently produced 1.2 million tonnes, which was a far cry from the requirement and huge potential. “The Mambilla plateau in Taraba has the best tea and coffee potential in the world, but as I speak, the country has not yet taken advantage of the opportunity to turn around its economy,” he said. Yusu...

Dangote tomato coy to resume production in February, says MD

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The Dangote Tomato Processing Factor in Kadawa, Kura Local Government Area of Kano State is to resume production in February. The company, which began production in Feb. 2016, had to suspend operation due to lack of enough raw materials. The Managing Director of the company, Alh. Abdulkadir Kaita, disclosed this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Kano. He added that preparation for production to resume was at an advanced stage. Kaita said that the company had to suspend production, when most of the tomato farms in about five states were affected by a pest, which destroyed all the tomato species. “We expect that tomato farmers would have produced enough for the company to process, hence our decision to resume production in February,’’ he said. According to him, many tomato farmers at the Kadawa, Kura, Garun-Malam and Hadeja-Jama’are irrigation sites are expected to produce enough for the company to process. “We deli...

KTSG earmarks N8bn to boost agricultural sector in 2017—-Masari

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Katsina Government has set aside eight billion naira to boost the agricultural sector in the 2017 budget. Gov. Aminu Masari of Katsina State stated this during the launching of the state/CBN Anchor Borrowers Programme on rice for 2016/2017 Dry Season Farming on Thursday in Jibia, Katsina State. ‘’The Katsina State Government has given top priority to the agricultural sector which is the mainstay of people of the state. ‘’We have set aside billions of naira for the agricultural sector because 90 per cent of Katsina citizens are farmers. ‘’We are targeting 20,000 farmers that will actively participate in the Anchor Rice Programme in the state,’’ he said. The governor disclosed that the state government had expended more than N300 million for the rehabilitation and expansion of 10 dams that were being used for irrigation. Masari called on the farmers to make maximum use of the rice farming so as to become self-reliant. In his remarks, the state’s Deputy Governor, who...

Bauchi govt flag-off Anchor Borrower's scheme, 20,000 farmers registered

Bauchi-The Bauchi State Government has officially launched the Anchor Borrower's Scheme initiated by the Central Bank of Nigeria with 20,000 farmers successfully registered under the scheme. The State Governor, Mohammed Abubakar who officially launched the scheme in Gadan-Maiwa town of Bauchi state at the flag-off of Land Preparation for the programme,  said that his administration will accord priority to Agriculture, especially laudable programmes like the Anchor Borrowers Scheme, as part of efforts to empower the people, create job opportunities and tackle the challenges of food security. He said that the state government undertook to pay off the 9 per cent interest on the loan to be granted farmers in the programme, to encourage participation and showing commitment towards the success of the programme in the state as an Anchor, in addition to other contributions. " The government has placed a high priority to Agriculture, especially laudable programmes like t...

Anchor Borrowers Programme : Bauchi Farmers decry slow pace of accounts opening process in Banks

Potential beneficiaries of Federal Government’s Anchor Borrowers Programme (ABP) in Bauchi State have decried the slow pace of processing of their accounts by some banks involved in the programme. They told the News Agency of Nigeria (NAN) in Bauchi on Monday that unnecessary delay by some of the banks in opening accounts for them, which is a pre-condition for participation in the programme, was frustrating and diminishing their enthusiasm to participate in the ABP. The interested participants, mostly farmers and civil servants, noted that the Project Management Team (PMT) set up by the state government, had done a lot to generate interest in the programme but the hiccup being experienced in some of the participating banks, was discouraging. According to them, the inbuilt incentives in the programme are so tempting that they initially doubted the possibility of actual implementation. “Apart from providing the capital for farming, all the inputs needed such as f...

350,000 families benefit from Anchor Borrower Programme in Kebbi – BOA

The Bank of Agriculture (BOA) says 350,000 families in Kebbi State have benefitted from Anchor Borrower Agricultural Loan disbursed to farmers in the last one year. Alhaji Muhammad Adamu, the Executive Director of the bank`s Corporate Services made the disclosure in an interview with the News Agency of Nigeria (NAN) in Birnin Kebbi on Thursday. He said that 78,000 farmers directly benefitted from the loan, while 350,000 families were affected through job creation and income generation. He said that under the programme, the state had produced 700, 000 tonnes of rice, adding that the initial production target was one million tonnes. Adamu said that the loan was meant for every eligible farmer without special consideration such as religion, tribe or creed. He said that the Anchor Borrower Programme was aimed at promoting food security, economic sustainability and self reliance for the populace. He said that the bank would soon sign a memorandum of unders...