Business
FG Provides 590 Tractors To Enhance Mechanised Agricuture
The Federal Government said it has provided 590 tractors and other heavy farm equipment to farmers in a bid to boost mechanised agriculture in the country.
The Permanent Secretary, Federal Ministry of Agriculture and Rural Development (PMARD) Mr Sonny Echono, made this known at a news briefing on Wednesday in Abuja.
Echono said the farm equipment had been delivered to 80 Agricultural Equipment Hiring Enterprises (AEHEs) to facilitate easy access for 10 million registered farmers in 28 states at subsidised rates for the first phase.
He explained that the programme was made possible through public-private partnership, saying that the centres would be private sector driven, while government would provide enabling environment and necessary regulations.
According to him, these centres would create 800,000 jobs, cultivate 3.5 million hectares of land and add 14,000 tonnes to national food supply.
“The Mechanisation Value Chain of Federal Government’s Agricultural Transformation Agenda has deployed 590 tractors, various harvest and post-harvest equipment to render mechanisation services to Nigerian farmers in 2015.
“The first batch of 80 AEHEs, the equipment for rendering mechanisation services has been deployed to the various states.
“Their locations are demand-driven and depending on the area of the Service Provider Operators that won the bids; they are not government-determined or government-influenced,’’ he said.
The permanent secretary listed the pilot states as Zamfara, Ondo, Oyo, Cross Rivers, Ogun, Adamawa, Taraba, Edo, Benue, Plateau, Niger, Yobe, Kaduna, Lagos, Kebbi, Katsina, Nasarawa, Akwa Ibom and Kano.
Others are, Gombe, Bauchi, Kwara, Kogi, Borno, Adamawa, Jigawa, Osun and Anambra.
Echono said at the end of second, third and fourth phases in four years, there would be a total of 1,230 AEHEs across the country.
He urged private investors and farmers to take advantage of the programme.
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.
