Business
FG To Train 100,000 Graduates As Extension Workers – Osinbajo
Vice-President Yemi
Osinbajo has said that the Federal Government will train 100,000 graduates as extension workers out of the 500,000 graduates to be engaged as teachers.
He made the declaration while launching the agricultural sector roadmap entitled: “The Green Alternative: Agriculture Promotion Policy 2016 to 2020’’ in Abuja.
The vice president also called for policy alignment of all government’s economic plans.
“This particular alignment is crucial. Just to give some obvious example: you cannot have a policy of encouraging local production of food and on the other hand have a high tariff on imported agricultural equipment.
“There is no way that we can encourage local production when we allow unbridled importation of the same things that we are trying to produce.
“There is no way we can do the scale of agricultural production both for domestic consumption and export without ensuring local improved seedling development alongside those that we import.
“And of course encouraging the work of the agencies of the Ministries of Science and Technology who have been making great breakthroughs in local development of agricultural equipment.
“Still on the issue of policy alignment, our social investment programme, which is possibly the largest in recent history, is designed to align with the design of our agricultural and other policies.
“And so, as part of the 500,000 teacher corps that we will be engaging, 100,000 of them will be trained as extension workers for our farms.’’
Osinbajo further said that the road map had identified the inability to meet productivity challenge of self-sustenance due to inefficient farming model, inadequate seeds, irrigation, and crop protection.
He said the administration met an economy in meltdown and had to take difficult decisions to repair the huge damage done by dependence on oil, not investing in infrastructure, deepening diversification and increasing reserves.
The vice president said that it became imperative to set the economy on the part of inclusive growth with job opportunities for the huge youth population through positioning agriculture as the focus of diversification.
Osinbajo said there was no doubt at all that if the administration got the agriculture right the economy would be right.
According to him, the home grown feeding programme was anchored on the use of locally produced food for primary school pupils in the country.
Osinbajo also said that financing of agriculture was also a crucial policy issue with double-digit interest rate and reluctance of banks to lend to the sector.
He said the administration must develop some funding options in the short term.
“The anchor borrowers’ programme of the Central Bank of Nigeria has proved to be extremely useful.
“Indeed the phenomenal success of the Kebbi rice programme where the farmers moved from 3.5 metric tonnes per hectre to 7.5 metric tonnes per hectre was largely the result of the single digit credit extended by the anchor borrowers’ programme which they used to purchase the right fertiliser quality and other inputs.
“The Ministry of Finance has practically concluded plans to recapitalise and re-engineer the Bank of Agriculture.
“We expect that before the end of this quarter, the Bank of Agriculture should be ready to give single-digit-interest-rate loans to farmers.’’
The vice president commended the Agriculture minister, Chief Audu Ogbeh, for developing an effective roadmap and conducting an advocacy for the revamp of the agriculture sector.
He further said President Muhammadu Buhari’s urgent call to return to the farm was one to embrace the truth of a renewed vision of an agriculture-led economy as an alternative to an oil dependent growth.
He said the agriculture revolution was a call on all to farm, even small vegetable farms.
“Interestingly, the only commercial activity that our constitution allows a public officer is farming; so we have no excuse,’’ he added.
In his reaction, the Kogi Commissioner for Agriculture and Natural Resources, Dr Tim Nda Diche, applauded the new agriculture roadmap as a viable option for the advancement of the nation’s economy.
He told The Tide source that the political will of President Muhammadu Buhari was high and the agriculture diversification was best way to avoid over reliance on oil.
The Nigerian Content Development and Monitoring Board (NCDMB), in partnership with a firm, Sweetcrude Ltd., has announced detailed selection criteria for the inaugural “Champions of Nigerian Content Awards”, designed to honor outstanding contributions to local content development in Nigeria’s oil and gas sector.
The Tide learnt that the event, scheduled to hold 21st May, 2025, at the NCDMB’S content tower headquarters in Yenagoa, capital of Bayelsa State, will recognize individuals and organizations that have demonstrated exceptional commitment to advancing Nigerian Content in 2024.
The Tide further gathered that the ceremony will coincide with the Nigerian Oil and Gas Opportunity Fair (NOGOF), which promises to spotlighting industry excellence and contributions to national economic transformation.
A statement by the Board’s Directorate of Corporate Communications and Zonal Coordination says the event has 12 Award Categories, which include, “Nigerian Content Icon of the Year”, “Nigerian Content Lifetime Achievement Award”, “Nigerian Content International Upstream Operator of the year”, and the “Nigerian Content Independent Upstream Operator of the year”.
Others are, “Nigerian Content Midstream Operator of the year”, “Nigerian Content Downstream Operator of the year”, “Nigerian Content International Service Company of the year”, Nigerian Content Indigenous Service Company of the year”, and the “Nigerian Content Innovator of the year”.
Also included are, “Nigerian Content Financial Services Provider of the year”, “Nigerian Content Media Organization of the year”, and “Women in Leadership Award for Promoting Gender Equality and Empowerment”.
According to the NCDMB, the criteria for oil and gas operators will include key and empirical benchmarks such as Production output for crude oil and gas volumes, Compliance with Nigerian Content Plans (NCPs) and Nigerian Content Compliance Certificates (NCCCs).
Other criteria are adherence to NOGICD Act reporting requirements, such as submission of Nigerian Content Performance Reports and Employment & Training Plans.
The Board’s statement added that similar criteria will apply to financial institutions, media organizations, and individuals, ensuring a transparent and merit-based selection process.
“Winners for the Nigerian Content Icon of the Year, Innovator of the Year, and Women in Leadership Award will also be selected based on measurable performance indicators.
“The Advisory Committee of Industry Titans will Oversee the process to uphold the prestige of awards. The Committee consist of distinguished experts set up to oversee nominations and validate winners”, the NCDMB said.
Members of the committee, according to the Board, include: Pioneer Executive Secretary of the NCDMB, Dr. Ernest Nwapa; Secretary-General, African Petroleum Producers Organization, Dr. Omar Farouk; and former Zonal Operations Controller, DPR, Mr. Woke Akinyosoye.
The Statement quoted the Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe, as emphasizing that the awards aim to becoming the oil and gas sector’s equivalent of the Oscars, celebrating genuine impact rather than mere participation.
“This recognition is reserved for those who have gone beyond compliance to drive tangible growth in Nigerian Content.
“With a focus on credibility, compliance, and measurable impact, the Champions of Nigerian Content Awards is poised to set a new standard for excellence in Nigeria’s energy sector”, the NCDMB Executive Scribe said.
By: Ariwera Ibibo-Howells, Yenagoa
Nigeria’s apex Banking institution, Central Bank of Nigeria (CBN), has declared that Federal Government’s debt servicing increased to N696billion in January 2025.
The CBN’s recently published Economic Report revealed a precarious fiscal position, which worsened in January 2025 as debt servicing obligations exceeded total retained revenue by a wide margin.
According to the report, the Federal Government’s debt servicing obligations for the month stood at N696.27bn, while total retained revenue amounted to only N483.47bn, indicating that debt service alone consumed about 144 per cent of all government earnings.
This development highlights the growing debt burden and dwindling fiscal space facing Africa’s largest economy.
According to the report, despite slight improvements in some revenue categories, the retained earnings were grossly inadequate to cover obligatory debt repayments, exposing the government’s continued reliance on borrowing to meet basic obligations.
The report further revealed that retained revenue in January 2025 only recorded a marginal 0.89 per cent increase when compared with the N479.21bn generated in the corresponding month of 2024.
”FGN retained revenue declined in the review period, owing largely to lower receipts from Federal Government Independent Revenue and FGN’s share of exchange gain.
“At N0.48tn, provisional FGN retained revenue was 69.19 and 70.40 per cent below the levels recorded in the preceding period and monthly target, respectively”, it revealed.
While this points to stagnation rather than growth, the marginal rise was wiped out by the overwhelming debt service obligations.
The retained revenue components showed that the Federation Account contributed N167.69bn, while the VAT Pool Account delivered N90.73bn.
By: Corlins Walter
The Federal Government has announced plans to commence the payment of the outstanding N35,000 wage award arrears owed workers in the Federal Civil Service.
A statement issued by the Office of the Accountant-General of the Federation (AGF), which was signed by the Director of Press and Public Relations, Bawa Mokwa, said the outstanding arrears will be paid in instalments, with workers set to receive N35,000 per month for five months.
It clarified that the first tranche of the wage award arrears would be released immediately after the April salary payment.
“The wage award arrears was not paid with the April 2025 salary; it will come immediately after the salary is paid”, the statement read.
The Federal Government had earlier disbursed wage awards to federal workers for five months as part of efforts to cushion the impact of economic reforms. However, five months’ arrears remained unpaid.
The AGF office further reiterated the government’s commitment to fully implementing all policies and agreements relating to staff remuneration and welfare, noting that such efforts were geared towards enhancing productivity and operational efficiency across ministries, departments, and agencies.
The N35,000 wage award was introduced in 2023 as a palliative measure to support workers following the removal of the petrol subsidy and other economic adjustments.
In January this year, the Federal Government assured workers that it would clear the arrears of the N35,000 wage award, just as it also said the government had resumed the payment of the wage award.
The government also reiterated its commitment to addressing issues in the National Minimum Wage agreement reached with the Organised Labour in 2023.
The Minister of Labour and Employment, Nkeiruka Onyejeocha, had disclosed the government’s commitment towards implementing agreements with trade unions during separate meetings with the leadership of the Trade Union Congress and Congress of University Academics, in Abuja.
The Nigeria Labour Congress had criticised the Federal Government over the delay in the payment of the minimum wage for certain workers in the federal civil service.
Also, the Federal Government had earlier blamed the delay in payment on the prolonged approval of the 2025 budget.
By: Corlins Walter
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