Business
FG Targets 51mmt Of Cassava Production, 2017
The Minister of Agricul
ture, Mr Akinwunmi Adesina has disclosed that the Federal Government targets 51 million metric tonnes of cassava production in 2017 up from the 38m metric tonnes of cassava produced currently.
Speaking in Abeokuta during a training workshop on quality management systems for flash dried quality cassava production, the minister said: “our target is to increase cassava production by 2017, to 51 million metric tonnes presently we are between 38 million and 40 million metric tonnes”.
Mr Adesina who was represented by his Technical Adviser on Cassava Value Chain, Mrs Toyin Adetunji added “our target for 2017 is to reduce the cost of production and this varies with locations within Nigeria. We want to reduce cost by giving out improved varieties to farmers which we have been doing in the last three years”.
On support and upgrade of equipment for Small and Medium Enterprises (SME), he said the federal government had bulk sum of N3.4 billion deposited with the Bank of Industry that is disbursing the fund to target people that included the Master Bakers and SMEs producing the high quality cassava flour.
According to the Minister, the importance of the technical skills and training workshop was to create markets for the farmers and catchment areas for their market, saying this should be between 30 and 50 kilometres radius.
He therefore, said the training cuts across the country, stressing that the federal government target was to touch about 150 in each region in the country.
Adesina added, “we are here for the production of cassava flash drive high quality cassava marsh, when we talk of flash drive, we mean the type of equipment used (that is ) the grated, pressed cassava marsh introduced into the processing machine.”
He stated that the quality management training was basically introduced in terms of skills development and business development to improve upon capacity of the existing SME.
The Minister added it was aimed at helping in the development of cassava industry as you all know under the cassava transformation agenda, which entails the inclusion of high quality cassava flour in bread, quality administration of the flour and getting high quality cassava means putting all the necessary inputs in place to achieve the desired result”.
Business
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Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
