Business

Association Urges Investment In Palm Produce

Published

13 years ago

March 11, 2013

The National President, National Palm Produce Association of Nigeria (NPPAN), Mr Henry Olatujoye, has called on investors to invest in palm produce.

Olatujoye made the call at the Palm Produce Pre-Conference Stakeholders’ meeting in Abuja, recently with about 45 stakeholders in attendance from across the country.

He said that the meeting was in preparation for the forthcoming international conference being organised by the Ministry of Trade and Investment in collaboration with the association.

He noted that the objective of the conference which would hold in the second quarter of 2013, was to expose the potential the palm produce industry to the world.

He expressed regret that Nigeria was not maximising its investment potential in the palm tree.

According to him, the palm oil tree is to West Africa, adding that the oil has been traditionally used as food, medicine, woven material and wine.

He added that palm oil was the largest world supplier of fat and oil and possessed the capacity to be processed into several derivatives than any other oil plants.

He recalled that Nigeria had maintained a leading position in global production and export of palm oil in the early 1950s and 60s and expressed regret that the situation had not been the same currently.

According to him, Nigeria, which used to be the leading palm oil producing country in the world, is now in the seventh position after losing its position to Indonesia.

He said that Indonesia was able to attain its present position because it had the biggest rate of increase in terms of forest converted into palm oil plantation.

“At present, Indonesia and Malaysia contribute about 85 per cent of the total world palm oil needs.’’

Olatujoye said that Nigeria, with about six million hectares available for palm plantation, could compete with Indonesia and Malaysia, if efforts were geared toward progressive investment in the palm produce industry.

He observed that Nigeria was spending so much money on palm oil importation and therefore, boosting the economy of those countries.

He said that the association, formed 17 years ago, had yet to record any meaningful success, due mainly to the government’s inability to mobilise the private sector in plantation development.

He listed other challenges confronting the association as funding and inconsistency in policies on palm oil development programmes.

Olatujoye said that the major objective of the association was to bring together all those in palm oil cultivation, production, research, processing, marketing, sales, purchase and development of palm produce in the country.

He said the other objectives were to promote order and discipline in palm oil production, trade and commerce in the industry.

He said affiliating and co-operating with other national and international associations involved in the production, research and development, commerce and export trade of the produce also formed part of its objectives.

In her remarks, Mrs Omololu Ope-ewe, the Deputy Director, Commodities, Ministry of Trade and Investment, said that the forthcoming international conference would focus on sensitising investors on the enormous investment opportunities embedded in palm produce.

According to her, the conference with the theme : ‘’Bringing back the lost glory of palm oil industry in Nigeria’’ is in line with the Agricultural Transformation Agenda of President Goodluck Jonathan.

She advised the association to show more commitment and dedication in the discharge of its responsibilities and liaise with the government to move the palm oil industry forward.

“I can assure you that in the true spirit of Public Private Partnership, the government will give you all the necessary support and encouragement.

“The government will also provide the enabling environment for the conference to succeed in order to attain global recognition of our great palm oil sub-sector in Nigeria,’’ she said.

Business

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

1 day ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

1 day ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

6 days ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.