Business
Bakers To Add 20% Orange Fleshed Sweet Potato Puree In Bread
The National Association of Master Bakers and Caterers of Nigeria (AMBCN) has endorsed the inclusion of Orange Fleshed Sweet Potato (OFSP) puree in bread production.
The National President of AMBCN, Alhaji Mansa Umar announced this yesterday in Abuja.
Umar spoke at an AMBCN seminar held in collaboration with Sano Foods Limited on inclusion of 20 per cent OFSP puree in bread production.
The president said the decision was to cut down the cost of bread production in Nigeria following the recent increase in prices of all baking materials in the country.
He said there was need to consider inclusion of farm produce that the country have in abundance in bread production to cut down the price of bread.
Umar said the inclusion of OFSP puree was a good development as it had more nutritional value and would help to reduce cost of production.
“We have mobilised our national executive members from all states to be part of this innovation at Abuja because of its importance and urgency,’’ the president said.
He urged government agencies, banks and state governments to give necessary support to the initiative.
The National Secretary of the association, Mr Jude Okafor said “this is a very successful innovation; the national body of AMBCN is fully in support of this new initiative’’.
Okafor said the aim was to ensure that the implementation cut across all states for the benefit of all Nigerians.
Head Processing and Operations of Sano Foods Mr Solomon Ojeleye, also praised the initiative.
“OFSP is rich in beta-carotene and fibre with high nutritional value in vitamin A for eye health, vitamin B6 for healthy metabolism and nervous system.
“And vitamin C for immune health, with vitamin D which plays an important role in carrying out vital functions in the body system,’’ Ojeleye said.
Business Development Manager of Agric. Capital Mr Richard Nwadimuya,said the company would work with various farming groups to ensure that OFSP roots were made available in the country.
Managing Director of Agro Park Mr Sola Olunowo, appealed to bakers to imbibe the project and promised that it would be successfully implemented.
“We are partnering with Sano Foods and Master Bakers in this initiative, our plan is to cultivate 5,000 hectares in three phases. This is our area of expertise and it’s not new to our organisation,’’ Olunowo said.
The FCT Chairman of AMBCN, Mr Ishaq Abdulkareem commended Sano Food for the initiative and appealed to the federal, state government and private sector for support.
According to Abdulkareem, the price of bread is becoming worrisome as the prices of raw materials keep increasing daily.
He said that consequently, there was need to look inwards in order to reduce the cost, and for some businesses not to close down.The Nigerian Export Promotion Council (NEPC) says Nigeria will soon move away from total dependence on crude oil to exporting non-oil resources and products.
The Regional Coordinator of the Council, South-South, Mr Joe Itah, said this during a One-Day Round Table Stakeholders’ forum on Cassava and Palm Producers in the Non-Oil Exports Sub-Sector in Yenago, yesterday.
He said “The spate of economic uncertainties around the most economies of the world has shown us that it is time to really sit up and seek to do things differently to enhance the economy.
“It is in pursuit of this goal that the Nigerian Export Promotion Council (NEPC) established the One-State-One-Product project which in itself is an offshoot from the Zero Oil Plan Initiative.
“The Zero Oil plan is a Federal Government driven economic arrangement enshrined within the Economic Recovery and Growth Plan (ERGP) to develop and promote 22 choice products where Nigeria has competitive advantage for export.
“It was first introduced in 2016 to lift the nation out of the then recession.
“Presently, the initiative is an integral part of the Nigerian Export Economic Sustainability Plan (NESP).”
Itah identified the main product in Bayelsa as cassava, with palm oil as an alternate product.
He added that “But there are few more other products of interest in Bayelsa that could do well in export including sea foods and rice among others,” he added.
In his presentation, the Commissioner for Agriculture and Rural Development, Mr David Alagoa,said what they needed was setting a task force for all exporters to follow.
He said one of the focuses with export was that one must register his or her company to make the person a businessman or woman.
“For you to go into exporting mode you must do a research before venturing into such a business, knowing the markets to export your goods.
“You must not start big in a business, but you can start small, for you to grow it gradually before it becomes what you want it to be.
“People are exporting all sort of things, the leaves they wrap moimoi with, brooms are selling abroad twenty time what they cost here, back of cannel shell can be exported also,” he said.
In her speech, the Permanent Secretary, Ministry of Commerce and Industry, Ms Patience Abah, said the Bayelsa government was ready to partner private sector to enhance economic development.
She commended the organisers of the forum, saying that it was a welcome development for Bayelsa exporters.
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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