Business
Enugu Monarch Procures Fetilisers For Farmers
The Traditional Ruler of Adogbalato Community in Awgu Local Government Area of Enugu State, Igwe Chris Oti, has procured over fifty bags of fertilizer and assorted farming implements to be distributed freely among farmers in the area during this year’s new yam festival scheduled to take place on July 20, 2013, as a way of motivating rural farmers as well as boosting food production in the community.
The Monarch, who disclosed this during the official announcement of the programme and date for this year’s festival , said, it was high time governments at all levels in the country and Enugu state in particular began to accord agricultural sector the serious attention it deserves.
He said that since no nation, be it developed or developing including Nigeria can survive without agriculture, hence the urgent need for policy makers in the country to always initiate human oriented programmes in the sector that are capable of boosting the nation’s economy, “and stop paying only lip service at all times”.
The Royal father, had used the forum to reiterate his earlier call on the Governor Sullivan Chime, led administration and Awgu council area, to as a matter of urgency provide motorable roads to the community so as to enable the people whom he said, are predominantly farmers always evacuate their farm produce to the markets and urban centers.
According to him, if empowered or encouraged, “our community, Dogbalato, has all it takes and the agricultural capacity to feed the entire coal city state of Enugu and beyond”.
Our correspondent reports that Igwe Oti, had over the years, be at the vanguard of supporting and promoting agricultural programmes in his community and beyond hence, he instituted an annual competition among farmers in the area, which also involves cash prizes .
The Traditional ruler hinted that this year’s competition would be spectacular and more colourful, than that of previous years,
”That is why I decided to increase the fertilizer from 20 bags in 2012, to 50 this year, adding that other items that would be contested for during the forthcoming festival have equally been doubled. This year’s Adogbalato new yam festival will gulp the sum of N5m, and it would feature a lot of new innovations including masquerade competition among neighboring and host community”.
The monarch further said “New yam celebration is a big cultural event in our community, because it is a time we showcase our cultural heritage as well as entertain ourselves and visitors” stressing that any race or community without culture are like people without identity, reasoning that culture which remains the peoples way of life, must be respected at all times.
The Chairman, planning committee for the event, Chief Andrew Ago, had in his brief remarks, applauded the foresight of the Royal father, describing him as a true leader.
He made it clear that this year’s festival would be quite different from that of previous years, as it will commence with a church service.
The essence of combining culture with religion this time around, according to Chief Ago, is to correct the age long notion in some quarters that new yam festival was purely a fetish exercise, just as he called on all and sundry from the community especially the youths to join hands with the committee in making the cultural fiesta a huge success.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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