Business
Expert Wants States To Establish Rice, Oil Palm Mills
A renowned agricultural expert, Professor Ofoegbu Amadike has called on the state governments in the south-South and South-East regions to establish mini modern rice mills and oil palm processing mills to serve the need of the people in the rural areas. This, he said, would also be in line with the federal government’s drive towards increased local rice production in the country.
Amadike who is a retired professor of agriculture and a consultant to many agro-based industries in the South-South, made the call in Port Harcourt during an interview with The Tide, recently.
He said that if the projects were carried out, it would encourage the development of oil palm and rice production estate by farmers who were limited by the non availability of processing facilities.
Amadike noted that these projects like rice and oil palm could be pursued under the commercial agricultural credit scheme and would in turn complement other production efforts in providing sufficient raw materials for the operation of oil palm and rice mills.
He commended farmers and fishermen for their perseverance in spite of odds militating against the production and sustenance of food security in this era of global food crisis.
He pointed out that lack of easy access to credit, inability to acquire relevant agricultural equipment/inputs, inadequate training on modern agricultural practices and dearth of information on recent innovation in agricultural development were some of the inhibiting factors retarding the progress of agriculture in the county.
The agric expert also urged state governments to pay counterpart funds in respect of their state’s Agricultural Development Programme (ADP), Community Based Natural Resource Management Programme (CBNRMP) and the FADAMA III Programme, as a way to boost agricultural business in the country.
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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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