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Vote 10% Annually For Agric, FG Told

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The Minister of Agriculture and Rural Development, Dr Akinwumi Adesina, has called for the allocation of 10 per cent of the nation’s annual budget to agriculture.
Adesina made the suggestion while contributing to a discussion in Abuja yesterday at the 19th Nigeria Economic Summit on ways to sustain the nation’s agenda on agriculture.
He said that financing the growth and development of the agriculture sector should be significantly expanded for realistic growth.
“At the moment, we are not spending enough on agriculture. As we go forward, we have to restructure the modes of financing of the sector.
“We need to make at least 10 per cent of our budget to go to agriculture, if we want to sustain this particular agenda.
“The issue of getting financing from the private sector is key. Nobody is going to do agriculture and borrow money at 25 per cent interest rate and also make profit.
“So we need to find new institutions, new arrangements and new platforms that will allow us to get affordable financing as well as long-term financing.
“So we really cannot get far until we tackle this particular issue.’’
Adesina also said that adequate funding of research and development institutes that were geared toward innovative agriculture discoveries was important.
“I think it is very crucial for us to invest heavily in research and development because no nation in the world has been able to achieve this without spending money on innovative technologies.
“Talk about China, Brazil, Pakistan and India, all of them invested in innovative technologies.
“Right now we are spending less than one per cent on research and development and it is not enough. To be the global power we want to be, we must spend more on research.’’
He said that another factor stunting the growth of agriculture in the country was the issue of agricultural extension, diverse means of transportation of farm produce, among others.
The minister said that the way forward was for young and fresh minds to come into the business of agriculture.
Adesina said that this was the reason why the recently launched Nurturing the Successor Generation of Nigerian Farmers and Agriculture Enterprises by President Jonathan, was a welcome development.
The Chairman of Heir Holdings, Mr Tony Elumelu, said that there should be continuity in the transformation of the agriculture agenda, to achieve sustainability in the sector.
He said that the ultimate goal of the agriculture agenda would be achieved when policy reforms and incentives were put in place.
“We also need to think of how to make agriculture more lucrative. It employs a lot of people but in actual wealth, it doesn’t make a lot of them rich.
“So if we succeed in making it lucrative and people begin to make money, naturally others would want to join in,’’ he said.
The Chief Executive Officer, Stanbic IBTC Holdings, Mrs Sola Borha, said that for affordable lending for agriculture purposes, the sector needed to be attractive, to enable banks feel safe to advance loans.
“ NIRSAL funds provided by the Central Bank is a step in the right direction since it is aimed at sharing risk, this will result to bankers feeling more comfortable in advancing agricultural loans.
“ This would help to bring the lending rates to the agricultural sector down.
“A commodity exchange, plus warehousing system, is absolutely key in providing the appropriate structure to agric business,’’ she said.
The Minister of the National Planning Commission, Dr Shamsudeen Usman, said that an alternate funding of the agriculture system apart from the traditional funding by banks was necessary.
“ At the federal level more economic policies like the NIRSAL funds should be fashioned to cushion risks in agriculture funding.
“Diversifying the transport sector is also important, which is why a step in that direction is already being taken, through resurrecting the train routes of Kano to Lagos and Port Harcourt to Borno,’’ he said.
The Managing Director, PZ Industries Plc, Mr Christos Giannopolus, also harped on the importance of having the right transportation system in place to aid movement of goods and services.
“ However, time is costly, if it takes over a month to move goods from Port Harcourt to the north, that becomes a challenge.’’
Giannopolus also urged the government to create more road corridors in the country.
He noted that the cost of using a particular means of transport half way through a journey and having to change to another was not cost effective and that it affected prices in the long run.

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  FG Must Address Nigerians’ Concerns On Reforms -Shettima …Warns Against Misuse of AI, Social Media

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Vice President Kashim Shettima has urged the Federal Government to pay greater attention to Nigerians’ concerns about ongoing economic reforms, insisting that public confidence must be built through transparent communication, credible evidence of progress and responsiveness to citizens’ experiences.

Shettima made the call yesterday at The Duke’s Masterclass 2026, held at Transcorp Hilton, Abuja, where he was represented by his Special Adviser on Economic Affairs, Dr Tope Fasua.

The Vice President said the success of the administration’s economic policies would depend not only on their implementation but also on the government’s ability to demonstrate tangible results and address the challenges confronting citizens.

“Government must continue to communicate, however, its policies clearly, demonstrate progress with credible evidence, and listen attentively to the experiences of citizens,” he said.

Shettima defended the economic reforms introduced by President Bola Tinubu, including petrol subsidy removal, foreign exchange market liberalisation, fiscal restructuring and revenue mobilisation, describing them as measures intended to correct longstanding economic distortions and strengthen Nigeria’s productive capacity.

He explained that the policies were designed to attract investment, improve business confidence, enhance the deployment of public resources and establish conditions for sustainable economic growth.

However, he maintained that announcing policies was insufficient without building public understanding and confidence in their implementation.

The Vice President particularly challenged Nigeria’s elite, professionals and middle class to acknowledge the difficulties facing ordinary citizens while explaining the objectives of the reforms.

“Your role is not to defend every government action uncritically, nor to dismiss the concerns of citizens. It is to help create a more informed and constructive national conversation,” he stated.

He urged professionals engaging traders to recognise the pressures confronting businesses and advised those interacting with young graduates to acknowledge employment challenges while encouraging entrepreneurship and innovation.

According to him, constructive criticism and informed public participation are essential to effective governance and the sustainability of economic policies.

“Constructive scrutiny strengthens governance. Informed public participation strengthens democracy,” Shettima said.

He further stressed that leadership required the flexibility to adjust policy implementation in response to evidence and changing economic circumstances without abandoning established objectives.

Turning to the challenges of artificial intelligence and social media, the Vice President warned that technological advances were increasing the speed and sophistication of misinformation, posing risks to public confidence and institutional reputations.

“A photograph can be manipulated, a voice can be cloned, and a video can be fabricated just with a simple prompt on social media to make an individual appear to have said or done something that never happened,” he warned.

Shettima urged public institutions to strengthen information verification, correct false claims transparently and communicate through trusted channels, adding that speed should never take precedence over accuracy.

He also called for improved digital literacy and responsible use of artificial intelligence.

On economic opportunities, Shettima identified banking, financial technology, oil and gas, agriculture, real estate, construction, commodity exports and the creative industry as sectors capable of supporting investment and employment.

He nevertheless acknowledged the need to address unreliable electricity, inefficient transportation, insecurity, limited access to finance and weaknesses in education and public institutions.

He called for stronger domestic production, export expansion and support for small businesses, while urging that economic opportunities be extended to women, young people and rural communities.

In his opening address, the Chairman of Odu’a Investment Company Limited, Bimbo Ashiru, warned that poor leadership decisions and inadequate crisis preparedness could destroy institutional credibility.

“Reputation cannot be manufactured at the point of crisis. It is built over time through our decisions, our conduct, our values and the consistency between what we say and what we do,” he said.

Ashiru noted that geopolitical tensions, technological changes and economic disruptions were making leadership increasingly difficult, requiring organisations to strengthen accountability, transparency and crisis management.

He disclosed plans to extend the masterclass to London in March 2027.

Also speaking, former Commonwealth Secretary-General, Emeka Anyaoku, recounted his involvement in international conflict resolution, particularly negotiations surrounding South Africa’s transition from apartheid and political tensions in Bangladesh.

He stressed that successful mediation required a thorough understanding of the issues dividing opposing parties, the interests of their leaders and the appropriate timing of public communication.

“Because if you communicate the progress prematurely, you might sabotage the whole process,” Anyaoku said.

The Chairman of AXA Mansard and Group Managing Director of Sahara Power Group, Kola Adesina, criticised Nigeria’s persistent electricity challenges, arguing that public institutions and businesses should be judged by service delivery rather than explanations for poor performance.

“Rather than giving people megawatts of electricity, we are giving them excuses,” he said.

Adesina also condemned corruption, inflated public contracts and failures of accountability, warning that such practices weakened infrastructure, damaged public trust and endangered lives.

Meanwhile, the Chairman of the Duke of Shomolu Foundation, Joseph Edgar, explained that the masterclass was designed to equip organisations and individuals with practical strategies for anticipating crises, managing their consequences and protecting institutional reputations.

He said the initiative complemented the foundation’s use of theatre to promote social cohesion and strengthen public engagement.

 

 

 

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  NASS Backs Bill To Establish Federal Medical Centre in Bonny

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The House of Representatives has concurred with a Senate bill seeking to establish a Federal Medical Centre (FMC) in Bonny Local Government Area of Rivers State, paving the way for the proposed healthcare facility to proceed through the remaining legislative and constitutional processes.

The bill, sponsored by Senator Ipalibo Harry Banigo, who represents Rivers West Senatorial District, is titled Federal Medical Centre, Bonny, Rivers State and for Related Matters (SB 659).

It seeks to amend relevant provisions of the Federal Medical Centres Act to provide a legal framework for the establishment of the institution.

The concurrence by the House marks a significant legislative step towards improving access to specialised healthcare services for residents of Bonny and neighbouring communities.

The proposed medical centre is expected to strengthen healthcare delivery in the area, reduce pressure on existing medical facilities and improve access to timely treatment, particularly for patients requiring emergency and specialist care.

Its establishment is also expected to reduce the difficulties and additional costs associated with travelling outside the area to access advanced medical services.

Beyond patient care, the facility could provide opportunities for medical training, professional development and capacity building for healthcare workers, while strengthening the overall healthcare system in Rivers State.

Following the concurrence, the bill is expected to proceed through the remaining legislative and constitutional requirements, including presentation to the President for assent, before it can become law.

Banigo’s sponsorship of the bill reflects efforts to expand healthcare infrastructure and promote equitable access to quality medical services in Rivers State.

When established, the Federal Medical Centre, Bonny, is expected to bring specialist healthcare services closer to residents of the island community and surrounding areas, potentially reducing delays in treatment and improving patient outcomes.

The proposed facility would also add to the state’s healthcare infrastructure at a time when access to affordable and specialised medical services remains a major concern for many communities.

 

 

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FG Approves King Amachree Airport In Rivers, Sets Conditions For Construction

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The Federal Government has approved the development and construction of the proposed King Amachree Airport at Elem Ifoko in Degema Local Government Area of Rivers State, subject to compliance with regulatory, environmental and engineering requirements.

The approval was conveyed in a letter dated October 26, 2026, with reference number FMA/ADD/402/S.101/C.1/1/88, addressed to the Executive Director of Royal Fouche Services Limited, Prince Tonye Princewill.

The letter, signed by the Director of the Aerodrome Development Department on behalf of the Minister of Aviation and Aerospace Development, outlined conditions the project proponents must fulfil before proceeding with the proposed airport development.

Among the requirements is the preparation and submission of a comprehensive airport master plan detailing the proposed facilities, construction phases and associated infrastructure.

The proponents are also required to comply with all applicable regulations of the Nigerian Civil Aviation Authority (NCAA), alongside relevant environmental laws and standards.

These include conducting an Environmental Impact Assessment (EIA) and other necessary environmental studies, as well as paying all applicable statutory fees.

The government further stipulated that the project developers must submit a detailed topographical and obstacle survey referenced to the World Geodetic System 1984 (WGS-84).

A comprehensive geotechnical investigation is also required to establish the site’s subsurface conditions, soil-bearing capacity, groundwater characteristics and suitability for the proposed airport infrastructure.

In addition, the proponents must undertake detailed hydrological, hydraulic and drainage studies to evaluate potential flooding, tidal influences, seasonal water movements and stormwater management challenges at the proposed site.

The letter specifically addressed the canal traversing the proposed airport location, directing the developers to submit an engineering assessment to determine the most appropriate solution.

The assessment is expected to establish whether the canal should be diverted or realigned, or whether a suitable bridge or other crossing structure should be constructed to accommodate the proposed development.

The Federal Government also made the provision of reliable, all-weather road access to the airport a condition for the project. Such access, it said, would be necessary to facilitate construction, airport operations, emergency response and passenger movement.

Furthermore, the Ministry of Aviation and Aerospace Development and its relevant agencies are to be involved throughout all stages of the airport’s development.

Their involvement is intended to provide technical oversight and ensure compliance with the Standards and Recommended Practices of the International Civil Aviation Organization (ICAO), the Nigerian Civil Aviation Regulations (Nig.CARs) and other applicable statutory and regulatory requirements.

The approval marks a significant step towards the proposed establishment of the King Amachree Airport in Degema, although the project remains subject to the fulfilment of the conditions specified by the Federal Government.

 

 

 

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