Business
NDDC Releases $12m For Agric In N’Delta
L-R: Corporate Affairs Manager, Nestle Nigeria Plc, Dr Samuel Adenekan, Marketing Service Director, Mrs Iquo Ikoh, Head of Nutrition Division, Federal Ministry of Health, Dr Chris Isokpuninu and Managing Director, Nestle Nigeria Plc, Mr Dharnesh Gordhon, at the Nestle’s Creating Shared Value Media Workshop in Lagos last Wednesday. Photo: NAN
The Niger Delta Development Commission (NDDC) has released the sum of $12 million to the International Fund for Agricultural Development (IFAD) to support agricultural development in Niger Delta.
The Director, Agriculture and Fisheries in NDDC, Mr. Godspower Amadi, who disclosed this at the 15th IFAD/NDDC/FGN Supervision Mission, organised by IFAD in Port Harcourt said that IFAD designed a Community-Based Natural Resource Management Programme (CBNRMP) to empower at least 400,000 households in the rural communities through agriculture.
He said the Commission, as partners in the project, was expected to release a total of $15 million to support the programme.
Amadi said “NDDC is to release $15 million for the programme, so far we have released more than $12 million, so we are almost through with our payment.
“By my assessment, IFAD has achieved 75 per cent of its target and most rural dwellers are now integrated into agricultural entrepreneurship”.
National Coordinator of IFAD, Dr. Irene Ibeakuzie, urged state governments and other stakeholders to pay their counterpart funds to make the programme a success.
She said the programme recorded huge success in the various states, as agricultural investments ranging from crop farming to animal husbandry were done using best improved varieties and global practice.
Ibeakuzie called on the Youths to be part of the Initiative to ensure food security and employment generation through agriculture.
On her part, the national Programme Manager of IFAD, Mrs Atsupo Toda, urged more women and youths to engage in agriculture to achieve food security in the country
Corlins Walter
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.