Business
Four National Committees On Agriculture Submit Reports
The four National Committees on the revitalisation of the agricultural sector recently constituted by the Ministry of Agriculture and Rural Development have submitted their reports.
The committees are: Operationalisation of the Federal Government, Storage and Agro Processing Facilities, Resuscitation of Cotton, Textile and Garments.
The remaining two are that of the Revitalisation of Agricultural Extension Services and Strategic Action Plan for the Development of Grazing Reserves and Stock Routes Nationwide.
The Tide source reports that the committees that were given two weeks as deadline made far reaching actionable recommendations.
While the committee on the resuscitation of Cotton, Textile and Garment proposed an injection of N37.20 billion between 2016 and 2019, that of the Grazing Reserves recommended the establishment of National Livestock Development Authority.
On its part, the committee on Revitalisation of Agricultural Extension Services called for the establishment of National Policy on Agricultural Extension and Advisory Services.
The committee held that the body must include a sustainable, knowledge-based, market-oriented and ICT-driven value chain extension system.
The committee on the Operationalisation of the Federal Government Storage and Agro-Processing facilities proposed that the ongoing concession of silos must be fast-tracked and done within six months.
It further held that the process must include immediate leasing and concessioning of the other structures to include agro-process centres, farmer markets and agro-industrial estate.
Speaking, Mr Sonny Echono, the ministry’s Permanent Secretary, said “I can assure you that within seven days, all of those recommendations and interventions would be before the President.“
“We are indeed poised to kick-start and sustain the current effort and to also galvanise resources to ensure that we are able to produce food for our people.
“The ministry has been working tirelessly on the re-establishment of Marketing Corporation to cover the gaps created with the scrapping of the various marketing boards.
“We have completed four of the private-sector-driven stakeholder manning boards. They include that of cotton, cocoa, root/tuber and grains.
“So we are working hard at it and we believe that by the time these Marketing Corporations become operational they would fill the necessary gaps highlighted in some of these reports,“ Echono added.
According to him, the ministry will use the platforms to link producers and farmers with the market.
He said this was critical to sustaining the production circle in the agricultural sector.
“In our efforts to ensure expanded dry season cultivation across the country this year to make up for some of the losses incurred to inclement weather, 60 agricultural equipment hiring enterprises are to be created.
“This would give further impetus to our mechanisation efforts to increase other land cultivation across the country,“ the permanent secretary said.
Business
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Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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