Business
Nigeria’ ll Overcome Food Security Challenges -Senate’s Spokesman
In spite of the current reduction in farming activities across the states especially the northern region due to farmers / herders clash , the Chairman, Senate Committee on Information and Media, Senator Sabi Abdullahi has expressed hope that Nigeria can still overcome shortage in food supplies .
Senator Sabi (Niger North) said the challenges can be countered through enhanced food security policy of the government meant to develop farming technology and bumper production to tackle areas of lack. Abdullahi stated this at the end of the second phase of a two-day training for Senate Press Corps and select staff of the Upper Chamber in Abuja yesterday.
The training was organised in collaboration with the International Food Policy Research Institute (IFPRI).
He said the herdsmen/farmers crisis in some parts of the country had resulted in making it difficult for farmers to cultivate the land.
His words “It is a very challenging time for us as a country.
“The one hope I have is that we are always able to overcome our challenges. We will work collectively to take this country out of the difficulty we found ourselves.
“We will ensure that we change from a rudimentary production system through a much more productive system and even to a more advanced system.”
“Looking at agriculture as a means of taking people out of poverty and enhancing their livelihood is something that is compulsory,”
The lawmaker noted that the objective of the training was to enhance the reportorial skills of the National Assembly media crew in handling specialised areas such as agriculture and food security toward depeening democracy.
“Our regrouping is an indication of the importance the Senate attaches to the Press Corps. This 8th Senate has brought a lot of changes, in all of this, the Senate Press Corps has been standing with us.
He thereafter commended the institute for its “Feed the Future” programme, saying it was a laudable project.
In his remarks, Head of the Institute Dr George Mavrotas said “I cannot imagine this country to become more aware of the important issues surrounding the Nigeria agricultural sector without the active involvement of journalists of this country and in particular the Senate media.”
He said the training was a five-year programme aimed at equipping journalists covering the National Assembly with skills on drafting communication strategy.
One of the participants, Mr Huram Lokodi said the training had exposed him “to how as journalists, we can better communicate policies of government especially agriculture policies to the public.
“This is very timely because in Nigeria, issues of food security are necessary, as journalists, we should be able to let people who are into agriculture know what the policies are and how best to achieve food security.
“It has been very useful,” he said.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
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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