Business

Recession: CMD Advises MDAs On Prudent Spending

Published

9 years ago

February 1, 2017

Director-General of Centre for Management Development (CMD), Dr Kabir Usman, has advised Ministries, Departments and Agencies (MDAs) to apply prudent spending, especially in this period of economic recession. Usman gave the advice at the News Agency of Nigeria (NAN) Forum in Abuja.
”Typical example is the attitudinal change, the change of attitudes, business is no longer as usual, what we used to get we’ll never get the same, so we really have to manage what we have with prudence.
”Then the other aspect is the concept of savings, the cost cutting, because you used to get this money and spend, doesn’t mean that life will go on as usual.
”We give them ideas on public private partnership, issues about joint ventures and issues in terms of loan, borrowing to make sure there is value for money, not all the MDAs, relevant MDAs.
”If you look at it, there are about 10 key areas that Nigeria can do to get out of recession.
”Certainly, this 2017 budget gives us a leeway to try to do training assessment and impact assessment so that we can see the value for money and value addition for the training.’’
He said that the Federal Government had a responsibility to make sure that policy makers, implementers, analysts and reviewers were much apt in terms of key element that would bring Nigeria out of recession.
The director-general said that the centre had trained some officers of Planning, Research and Statistics from selected MDAs on how to manage their resources.
He said that the training was very clear about the concept of how Nigeria could come out of recession soon or rather than later.
Commenting on the 2017 budget, Usman said there were a lot of discussion going on about what the benchmarks should be, saying that it was about middle ground, between the executive and the legislature.
He said that looking at the projections in terms of executive function, based on projection, the price of oil was not going to reduce but it would not be a radical change but a gradual.
The director-general said the benchmarks in the budget would be realistic since the revenue was not going to be on oil. ”So, it may not necessary matter much because the emphasis is not going to be on oil but the emphasis is on taxes.
”And that is where we can generate revenue and focus on the area of agriculture and focus on the area of manufacturing and so on and so forth. ”We listen to government policy every now and then and that is why we have to tailor this year our training programme to focus on areas of government needs, monitoring and evaluation.
” Areas in term of agriculture, all the supply and value chain of agriculture and focus in terms of the manufacturing sector.
”If you look at the economy, you can see that usually you start from agriculture and then you go into manufacturing, then you go into services, but Nigeria got it wrong.
”From agriculture, we went into service and now we are struggling because we don’t have jobs while we became consumer country rather than producer.
” We don’t consume what we produce, that is why it is very difficult to look at the benchmark price.
”I am sure that is not what is important. What is important is the peace in the Niger-Delta to make sure that at least two million barrels is achieved in a very sustainable way.
”That will keep the economy going and the priority of government is to not fund the 2017 budget through the oil sector but taxation and I think, it is a right direction for all of us and it is responsibility of all of us not to depend on oil.’’
The Tide gathered that the 2017 Budget proposal of N7.30 trillion is before the National Assembly for consideration.
The Federal Government set a benchmark of 42.5 dollars per barrel and a production estimate of 2.2 million barrels per day for the 2017 fiscal year.

Business

Customs Seek Support To Curb Smuggling In Ogun

Published

2 days ago

February 13, 2026

The Tide

The Nigeria Customs Service(NCS), Ogun 1 Area Command, has solicited support in fighting smuggling and other economic crimes at the Nations border.

The Area Comptroller, Olukayode Afeni made the appeal in an interview with Newsmen in Idiroko, Ogun.

The comptroller stressed the need for the public to provide timely and reliable information to the Service, saying noting that fighting smuggling is a collective effort

“I urge the general public to join hands with NCS by providing timely and credible information that would help toward suppressing smuggling and other economic crimes.”

“Together, we can build a prosperous nation where compliance is the norm, and criminality has no place,” he said.

Afeni reiterated the command’s commitment to combat smuggling, and facilitating legitimate trade, as well as generate revenue for national development.

Chinedu Wosu

Business

IFAD: Nigeria Leads Global Push For Youth, Women Investment In Agriculture

Published

2 days ago

February 13, 2026

The Tide

The 49th Session of the International Fund for Agricultural Development (IFAD) Governing Council has concluded in Rome, with Nigeria taking a prominent leadership role in advancing global agricultural development priorities, particularly strategic investment in youth and women.

The biennial meeting, themed “From Farm to Market: Investing in Young Entrepreneurs,” underscored the growing recognition of young people as critical drivers of job creation, innovation, and inclusive economic growth across global food systems.

The session opened with the election of Nigeria’s Minister of Agriculture and Food Security, Senator Abubakar Kyari, as Chairperson of the IFAD Governing Council.

Having previously served as Vice Chair, his emergence as Chairperson reflects the strong confidence reposed in Nigeria by Member States, recognising the country’s constructive engagement and leadership in promoting global food security.

In his acceptance remarks, Senator Kyari expressed deep appreciation to Member States for the trust placed in him, pledging to serve with humility, diligence, and a strong commitment to improving the livelihoods of rural women and men across the world.

Addressing delegates during the session, the Chairperson emphasised that prioritising youth and women in agriculture is key to unlocking economic opportunities, accelerating innovation, and driving inclusive growth.

He noted that such investments would ultimately strengthen global food systems while helping to reduce hunger and poverty.

Senator Kyari also commended President Bola Ahmed Tinubu for placing food security at the centre of Nigeria’s national priorities.

He noted that Nigeria’s leadership role at IFAD aligns with the President’s directive to boost agricultural productivity, expand economic opportunities for youth and women, and build resilient food systems capable of withstanding climate and market shocks.

The Minister further praised the IFAD Nigeria Country Office, led by Country Director Ms Dede Ekoue, for translating global development commitments into measurable outcomes for rural communities.

He highlighted the office’s role in strengthening agricultural value chains, empowering youth and women, and improving resilience among smallholder farmers nationwide.

Business

Expert Tasks FG On Food Imports To Protect Farmers

Published

2 days ago

February 13, 2026

The Tide

The Federal Government has been urged to balance consumer protection with farmers’ sustainability by ensuring timely food imports, input subsidies expansion and price stabilisation mechanisms to secure investments across the agricultural value chain.

An agriculture expert, Dr Fatai Afolabi, gave the advice at a forum organised by the Plantation Owners’ Forum of Nigeria (POFON), in collaboration with the Oil Palm and Other Oil Seeds Value Chain, themed ‘Current Government Food Strategy, the Concomitant Effects and Implications for Food Security in Nigeria’, and held in Lagos, Wednesday.

Afolabi cautioned that the recent food import policies, while easing consumer prices, could undermine local farmers and long-term food security if not carefully managed.

He noted that Nigeria’s food system was navigating an exceptionally difficult period, marked by inflationary pressures, climate variability, insecurity in major food-producing regions, and rising energy and logistics costs.

He said the Federal Government’s decision to temporarily relax restrictions on selected food imports was understandable, noting that the market had responded swiftly with a reduction in prices of major staples.

However, the convener observed that while the policy had brought much-needed relief to consumers, it posed significant challenges for local farmers and agriculture value chain investors.

“While output prices have fallen, the cost of producing food in Nigeria remains stubbornly high.

“Farmers continue to contend with expensive fertilisers, rising transport costs, costly improved seeds and agrochemicals, limited access to affordable credit, poor electricity supply, weak road infrastructure, and inadequate storage and processing facilities, which result in significant post-harvest losses.

“This situation, where farmers sell produce at declining prices while production costs remain elevated, has created widespread distress across agricultural ecosystems,” he said.

Afolabi said the effects were being felt across all segments of agriculture, with rice farmers among the hardest hit.

He said reports from producing states indicated that about 3,500 rice farmers were considering exiting rice cultivation after incurring estimated losses of over N93 billion.

He added that cassava farmers were selling produce at prices that barely covered harvesting costs, leaving them unable to recover their investments.

According to him, vegetable and edible oil producers are also under pressure as imported vegetable oil brands reduce demand for locally processed alternatives.

He added that cocoa farmers continue to battle price volatility in international markets amid rising domestic labour and maintenance costs.

Afolabi noted that tree crops such as oil palm and cocoa, which require long gestation periods, were particularly vulnerable to sudden market disruptions that undermine investor confidence and discourage new investment.

He said the effects extended downstream to agro-processing and value addition, with soybean farmers supplying vegetable oil processors experiencing reduced demand and lower prices.

He said the development threatened not only farm incomes but also rural employment and agro-industrial growth, raising concerns about national food security.

According to him, sustained losses could force farmers out of production, increasing Nigeria’s dependence on food imports and exposing the country to global supply shocks, foreign exchange pressures and long-term vulnerabilities.

Afolabi cited India and the Netherlands as countries offering useful lessons in balancing consumer protection with farmer sustainability.

He said India deploys food imports strategically during shortages, while complementing them with strong domestic support systems.

He added that the Netherlands, despite being one of the world’s leading agricultural exporters, supports farmers through input subsidies, tax incentives, affordable energy, strong cooperatives, and close integration with research and extension services.

He said agricultural students in both countries also benefit from subsidised tuition, transportation and meals, as well as grants and start-up support for farm enterprises.

“This approach ensures generational continuity and innovation in the agricultural sector,” he said.

Afolabi said Nigeria’s current food import policy could play a stabilising role if complemented by deliberate measures to protect local producers.

He recommended carefully timed imports to avoid peak harvest periods, strengthened price stabilisation mechanisms, aggressive subsidies for critical farm inputs, and support for agro-processors to remain competitive.

He also called for clear communication of policy intentions to reassure farmers that import measures were strategic and temporary.

“Food imports should function as a strategic shock absorber rather than a permanent market feature.

“Government should develop and publish a national crop production and harvest calendar for major staples and align import decisions with documented supply gaps.

“Affordable food and profitable farming are not mutually exclusive goals. With thoughtful coordination and sustained support for farmers, Nigeria can achieve both,” he said.