Business
Senator Lauds N200bn Agric Intervention Fund
The Chairman of the National Agricultural Foundation of Nigeria (NAFN) Sen. Abdullahi Adamu, has lauded the Central Bank of Nigeria (CBN’s) N200 billion intervention fund for commercial agriculture.
Adamu gave the commendation in Abuja last Wednesday in an interview with newsmen.
He praised the Governor of the CBN, Malam Sanusi Lamido Sanusi, for his role in making the intervention fund a reality.
“As at last year he (Sanusi) had been able to interact with the Bankers’ Committee and officials of the Federal Ministry of Agriculture and Rural Development and farmers association at various levels.
“He has ensured the administration of that N200 billion for commercial agriculture. ’’
The CBN in 2009 established the N200 billion Commercial Agriculture Credit -Guarantee Scheme (CACS), to promote commercial agricultural enterprises.
It is being funded through the issuance of Federal Government bonds by the Debt Management Office (DMO) in two tranches.
Under the CACS, N101.38 billion had been released to finance 109 privately-owned projects and 19 State Governments received one billion naira each for disbursement to farmers’ cooperatives and unions.
The other batch is the Small and Medium-Scale Enterprises Guarantee Scheme (SMECGS), established to help manufacturers in the Small and Medium-Scale Enterprises (SMEs), have access to credit.
Adamu, who described the intervention as being in line with the transformation agenda of the Federal Government, said that some farmers had benefited from the fund.
He commended various agricultural reforms anchored by the Presidency and the Ministry of Agriculture and Rural Development.
“We run a federal system of government and the national government is the facilitator of everything that involves the development of agriculture in Nigeria. ’’
Adamu, who is also a former Governor of Nasarawa State, urged President Goodluck Jonathan to continue to give agriculture priority attention.
He encouraged state governments to do the bidding of the federal government by putting agricultural transformation, as their primary interest.
He appealed to the Federal Government to give moral support to the National Agriculture Show.
The 2012 edition of the show is billed for Oct. 12 to Oct. 16 at the show ground at Km. 28 on the Abuja-Keffi highway in the Tudun Wada/ Karu Local Government Area of Nasarawa State.
NAFN is the body responsible for organising the show.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.