Business
Groups Want Govt To Focus On Rural Dev
Some Civil Society Organisations (CSOs) have called on governments at all levels to concentrate on rural development to achieve the target of the Agricultural Transformation Agenda (ATA).
The groups made the call in separate interviews with newsmen in Abuja on Thursday.
CSOs refer to institutions and organisations that interface between the state and business world and the family on behalf of the people.
They include NGOs, Private Voluntary Organisations (PVO’s), Community-Based Organisations (CBOs), gender groups, professional associations and policy institutions, among others.
Most CSOs are concerned with the monitoring of public spending and ensuring that government addressed the pressing needs of the populace.
Senior Programme Officer, Centre for Community Empowerment and Poverty Eradication, Mr Adulrahman Ayuba said that the rural communities deserved the attention of the government since they produced the bulk of the food in the country.
Ayuba also said that government at all levels must learn to associate themselves with farmers in the hinterland and not just with their umbrella bodies.
He explained that that was the only way to identify the exact needs of the people instead of presumptions and misinformation.
Ayuba said that the concentration of access roads should be a major area of concentration in terms of development in the rural communities.
“Access to roads is very important. These farmers spend a lot of time producing but taking the produce to the market has always been a challenge.
“Most often, these things perish because the farmers do not have the means of transporting them to the market.”
He added that access to micro credit facilities determined agricultural growth, which would also help in sustaining development in the sector.
Ayuba further said that his group had been able to build the capacity of women farmers especially, in the country side, sensitising them on the Federal Government’s development programmes under the ATA.
He said that with much enlightenment, some farmers were able to form cooperative groups which constitute platforms to speak with one voice and make their demands at both the state and local government levels.
An advocate, Mrs. Charity Bello of the Country Women Association of Nigeria (COWAN), also stressed the for the Federal Government to capture the needs of rural farmers in budget allocations than just making assumptions.
Bello said that including these needs would help reduce hardship on the farmers.
“In fact, we will love it if the government can assess our needs and capture it the way it is, in the budget because, sometimes when you assume, you look at someone and think that what he or she needs is food.
“In actual sense, you find out that it is not food he or she needs, maybe it’s a shoe.
“But when you find out from us what our needs are and you put it in the budget, it tells us that the budget is open and that we are part of its process.”
Bello also said that the issue of access to water could not be overemphasised as the lack of the essential commodity affected the business of women.
She stressed that provision of water and sanitation facilities would enhance the work conditions of farmers.
“In these communities, you find women trekking for two or three hours to get a bucket of water.
“If the Federal and state governments can come to the aid of women in the provision of water, it will help them to participate more in their business.”
She also attributed the lack of water in some of these communities to the cause of the ill health of the people and the reason why some of them were unable to pay back loans to banks.
The Central Bank of Nigeria (CBN) yesterday said 33 banks have met new minimum capital requirements under its recapitalisation programme, raising a combined N4.65 trillion to strengthen the financial system.
The apex bank disclosed this in a statement marking the end of the exercise, which commenced in March 2024 and drew participation from domestic and foreign investors.
The statement was jointly signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi-Ali.
The statement said “Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
The regulator said local investors accounted for 72.55 per cent of the funds, while international investors contributed 27.45 per cent, reflecting continued confidence in the sector.
Commenting on the outcome, the CBN Governor, Olayemi Cardoso, said in the statement, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
It added that while 33 banks have complied with the new thresholds, a few others are still undergoing regulatory and legal processes.
The statement noted, “The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
“All banks remain fully operational, ensuring continued access to banking services for customers.”
The apex bank stressed that the exercise was executed without disrupting banking operations, ensuring uninterrupted access to services nationwide.
It further stated that key prudential indicators have improved, particularly capital adequacy ratios, which remain above global Basel benchmarks.
The minimum ratios were set at 10 per cent for regional and national banks and 15 per cent for banks with international licences.
The bank also said the recapitalisation coincided with a gradual exit from regulatory forbearance, a move it said improved asset quality, strengthened balance sheet transparency, and enhanced overall stability.
To preserve these gains, the CBN said it has reinforced its risk-based supervision framework, mandating periodic stress tests and adequate capital buffers for banks.
It added that supervisory and prudential guidelines would be reviewed regularly to strengthen governance, risk management, and resilience across the sector.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the statement said.
The Tide learnt that foreign capital inflows into Nigeria’s banking sector rose by 93.25 per cent year-on-year to $13.53bn in 2025, up from $7.00bn recorded in 2024, amid the ongoing recapitalisation drive by the Central Bank of Nigeria.
Data from the National Bureau of Statistics capital importation report showed that the banking sector remained the dominant destination for foreign capital, accounting for $13.53bn of the total $23.22bn recorded in 2025, representing 58.26 per cent of total inflows, up from 56.81 per cent in 2024.
The surge reflects heightened investor interest in Nigerian banks as they raised fresh capital to meet new regulatory thresholds introduced by the apex bank, with industry-wide recapitalisation activities driving large-scale inflows across all quarters of the year.
However, the Centre for the Promotion of Private Enterprise (CPPE) recently raised concerns over weak credit flows to small businesses despite recent banking sector reforms.
The CPPE, led by a renowned economist, Dr Muda Yusuf, acknowledged that the ongoing bank recapitalisation exercise by the CBN has strengthened the financial system, but warned that the benefits have yet to translate into meaningful support for the real economy.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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