Connect with us

News

Vote 10% Annually For Agric, FG Told

Published

on

The Minister of Agriculture and Rural Development, Dr Akinwumi Adesina, has called for the allocation of 10 per cent of the nation’s annual budget to agriculture.
Adesina made the suggestion while contributing to a discussion in Abuja yesterday at the 19th Nigeria Economic Summit on ways to sustain the nation’s agenda on agriculture.
He said that financing the growth and development of the agriculture sector should be significantly expanded for realistic growth.
“At the moment, we are not spending enough on agriculture. As we go forward, we have to restructure the modes of financing of the sector.
“We need to make at least 10 per cent of our budget to go to agriculture, if we want to sustain this particular agenda.
“The issue of getting financing from the private sector is key. Nobody is going to do agriculture and borrow money at 25 per cent interest rate and also make profit.
“So we need to find new institutions, new arrangements and new platforms that will allow us to get affordable financing as well as long-term financing.
“So we really cannot get far until we tackle this particular issue.’’
Adesina also said that adequate funding of research and development institutes that were geared toward innovative agriculture discoveries was important.
“I think it is very crucial for us to invest heavily in research and development because no nation in the world has been able to achieve this without spending money on innovative technologies.
“Talk about China, Brazil, Pakistan and India, all of them invested in innovative technologies.
“Right now we are spending less than one per cent on research and development and it is not enough. To be the global power we want to be, we must spend more on research.’’
He said that another factor stunting the growth of agriculture in the country was the issue of agricultural extension, diverse means of transportation of farm produce, among others.
The minister said that the way forward was for young and fresh minds to come into the business of agriculture.
Adesina said that this was the reason why the recently launched Nurturing the Successor Generation of Nigerian Farmers and Agriculture Enterprises by President Jonathan, was a welcome development.
The Chairman of Heir Holdings, Mr Tony Elumelu, said that there should be continuity in the transformation of the agriculture agenda, to achieve sustainability in the sector.
He said that the ultimate goal of the agriculture agenda would be achieved when policy reforms and incentives were put in place.
“We also need to think of how to make agriculture more lucrative. It employs a lot of people but in actual wealth, it doesn’t make a lot of them rich.
“So if we succeed in making it lucrative and people begin to make money, naturally others would want to join in,’’ he said.
The Chief Executive Officer, Stanbic IBTC Holdings, Mrs Sola Borha, said that for affordable lending for agriculture purposes, the sector needed to be attractive, to enable banks feel safe to advance loans.
“ NIRSAL funds provided by the Central Bank is a step in the right direction since it is aimed at sharing risk, this will result to bankers feeling more comfortable in advancing agricultural loans.
“ This would help to bring the lending rates to the agricultural sector down.
“A commodity exchange, plus warehousing system, is absolutely key in providing the appropriate structure to agric business,’’ she said.
The Minister of the National Planning Commission, Dr Shamsudeen Usman, said that an alternate funding of the agriculture system apart from the traditional funding by banks was necessary.
“ At the federal level more economic policies like the NIRSAL funds should be fashioned to cushion risks in agriculture funding.
“Diversifying the transport sector is also important, which is why a step in that direction is already being taken, through resurrecting the train routes of Kano to Lagos and Port Harcourt to Borno,’’ he said.
The Managing Director, PZ Industries Plc, Mr Christos Giannopolus, also harped on the importance of having the right transportation system in place to aid movement of goods and services.
“ However, time is costly, if it takes over a month to move goods from Port Harcourt to the north, that becomes a challenge.’’
Giannopolus also urged the government to create more road corridors in the country.
He noted that the cost of using a particular means of transport half way through a journey and having to change to another was not cost effective and that it affected prices in the long run.

Continue Reading

News

Fubara Reaffirms Commitment To Peace, Unity And Development As Rivers State Marks 59TH Anniversary

Published

on

Governor of Rivers State, His Excellency, Sir Siminalayi Fubara, has reaffirmed the unwavering commitment of his administration to peace, unity, security, and inclusive development as Rivers State marks its 59th anniversary.

In a goodwill message issued on Wednesday to commemorate the anniversary, Governor Fubara stated that despite the challenges faced over the years, the people of Rivers State have continued to demonstrate resilience, strength, and an enduring spirit of unity that has sustained the state since its creation.

The Governor noted that the strong bond of brotherhood among the various ethnic nationalities of the state, including the Ijaw, Ikwerre, Ogoni, Etche, Ekpeye, Andoni, Kalabari, and others, remains one of Rivers State’s greatest strengths and a critical foundation for peace, stability, and progress.

He further observed that Rivers State has remained a major driver of Nigeria’s economy for decades, not only because of its abundant oil and gas resources, but also because of the exceptional contributions of its people across diverse sectors including academia, jurisprudence, business, entertainment, public service, and sports.

Governor Fubara assured the people that his administration will continue to prioritize policies and programmes that promote peace, protect lives and property, and expand development across all parts of the state. He emphasized that governance must be people centered and impactful, with equal attention given to every Local Government Area of the state.

The Governor also paid tribute to the elders and founding leaders of the state for preserving the spirit of unity and coexistence over the years, while urging the youths to remain hopeful, responsible, and actively committed to building a greater Rivers State through innovation, hard work, and patriotism.

He equally acknowledged the invaluable role of women in strengthening families, communities, and society, describing them as indispensable partners in the continued growth and stability of the state.

Governor Fubara called on all Rivers people to use the occasion of the anniversary as a moment of reflection and renewed commitment to peaceful coexistence, mutual respect, dialogue, and collective progress, stressing that the unity and future of Rivers State must always rise above personal interests and political differences.

Rivers State was created on May 27, 1967, when the administration of General Yakubu Gowon (Rtd.) created twelve states out of the former four regions of Nigeria, with Rivers State carved out of the defunct Eastern Region.

Continue Reading

News

APC Presidential Primary: Fubara Commends Process, As Tinubu Sweeps Poll In Rivers

Published

on

Rivers State Governor, Sir Siminalayi Fubara, has commended the leadership of the All Progressives Congress (APC) in Rivers State over the outcome of last Saturday’s presidential primary election that saw President Bola Ahmed Tinubu sweeping the poll with a total of 280,082 votes.

Fubara, who served as the State Collation Officer for the primary election, said that  while the APC had a total of 297,068 registered members, the number of those accredited  for the election was  280,082.

According to him, all those accredited for the election,  cast their ballot for Tinubu, leaving Stanley Osifo,  his only opponent, with no votes.

Fubara expressed delight at the peaceful and seamless process which he said was as a result of good planning by the party.

“I feel that this process has recorded one of the most organised outings of our great  party in  recent times. The only reason it came out this way has to do with good planning. In all, I want to say that I’m really impressed with the process.

“So, I can say here that having taken time to go through the figures diligently, I, Siminalayi Fubara, who is standing as the State Collation  Officer, hereby certify that the information contained in my own spreadsheet represents the true, correct and accurate record of the summary of results from the 23 LGAs of Rivers State,” he said.

The governor said that  while it was evident that President Tinubu defeated his opponent in the primary election in  the State, the report would be sent to the APC headquarters in Abuja where the results will be formally declared.

Continue Reading

News

Ogoni cleanup: Minister Calls For more support from private sector

Published

on

The Federal Government has called for increased private sector participation and donor funding to sustain ongoing gains in the Ogoni environmental restoration project under the Hydrocarbon Pollution Remediation Project.

Speaking at a conference on donor facilitation and diplomatic support for HYPREP in Abuja, yesterday,  the Minister of Environment, Balarabe Lawal, stressed that the Ogoni cleanup programme was designed as a long-term intervention requiring sustained funding, technical support, and international cooperation.

“The project is supposed to be a lifespan project. We must move towards achieving its main aim, which is environmental restoration and sustainable development,” he added.

Lawal acknowledged the contributions of the United Nations Environment Programme, describing its assessment as the scientific foundation of the ongoing remediation efforts in Ogoni land.

“We are all here because of that UNEP report. It provided the scientific foundation for what has become one of the world’s most ambitious environmental remediation programmes,” he said.

According to him, hundreds of hectares of hydrocarbon-polluted land have been remediated, while additional sites are currently undergoing cleanup operations.

“We have remediated hundreds of hectares of polluted land, and more sites are still being worked on. Water schemes have also been delivered to affected communities,” he stated.

He added that ecosystem restoration, livelihood support programmes, and healthcare projects were ongoing across affected communities.

“Body health facilities are being constructed, livelihood programmes are empowering thousands, and we are also restoring access to safe drinking water because the first victim of pollution is water,” he said.

The minister also disclosed that the Centre of Excellence for Environmental Restoration was nearing completion, describing it as a major milestone in the project.

“If you go there, you will see one of the biggest edifices being constructed under HYPREP. It will serve as a postgraduate and research institute for environmental remediation,” Lawal said.

Despite the progress, he warned that funding challenges remain a major threat to sustaining the project.

“While substantial progress has been made, the journey is not yet complete. The implementation of UNEP recommendations requires long-term commitment and sustained financial and technical support,” he said.

Lawal therefore, appealed to development partners, donor agencies, international financial institutions, foundations, and private sector players to scale up their support.

“We need your support—financial, technical, scientific, and strategic. No organisation or government can do it alone,” he said.

He further described the Ogoni cleanup as a global model for environmental recovery, climate resilience, and international cooperation.

“The restoration of Ogoni land is not merely a Nigerian undertaking; it is a global model. Its success will show what is possible when governments, communities, and partners work together,” he added.

Also speaking, the Chairman of the Board of Trustees of the Ogoni Trust Fund, Emmanuel Deeyah, said the conference was organised to attract financial, technical, and institutional support for the cleanup exercise.

“We are looking for resources, financial support, expertise, partnership, and collaboration. Government cannot do everything alone,” he said.

Deeyah said the agitation for environmental justice in Ogoni dated back to 1991 when residents drew global attention to the environmental degradation caused by oil exploration activities.

“We farm in Ogoni land and we also fish, but our waters were polluted and the land could no longer support farming activities,” he said.

He explained that the UNEP report recommended that oil companies should contribute $1bn every five years for 30 years to support the remediation programme.

“We have done 10 years now and we have not even received the full $1bn that was supposed to be contributed. The refineries and local operators have not contributed a dime,” he stated.

Last week,  the Hydrocarbon Pollution Remediation Project announced the closure of 30 contaminated sites in Ogoniland, Rivers State, while investigations have commenced on 18 high-risk polluted locations in residential communities.

Continue Reading

Trending