Business
World Food Day: Ondo Disburses N23.9m Loan To 70 Young Farmers
Governor Olusegun
Mimiko of Ondo State on Monday disbursed N23.9 million to 70 young farmers and agro-entrepreneurs to support them to start their own agricultural ventures.
Mimiko, who was represented by his Chief of Staff, Dr Kola Ademujimi, said that the loan was at a single interest rate of 2.5 per cent for a period of two years with a moratorium period of six months.
The governor said that it was in line with his administration’s resolve to support micro and small businesses.
”This administration through Ondo State Micro Credit Agency (OSMA) has also disbursed about N3 billion under different schemes, targeting market women, artisan groups and small businesses.
”Over N1.5 billion was disbursed directly by the state government and another N1.4 billion had been disbursed under the ODSG/CBN MSMEs loan scheme,’’ he said.
The governor, therefore, charged the beneficiaries to use the funds judiciously and for its purpose.
According to him, all funds given would be repaid because there is monitoring team put in place to ensure prompt repayment.
He urged those that could not benefit from the disbursement not to be discouraged, assuring them that another batch of disbursement would be carried out soon.
Reports say that the loan amount ranged from N250, 000 to N500, 000 per beneficiary for a period of two years with submission of their original degree certificates and NYSC certificates as collateral.
Also speaking, the Chairman of WECA, Bolanle Funmiloye, said that the loan was to support small holder farmers as they were the keys to food security.
Funmiloye said that it was another milestone of continuous mission to engage the youth productivity and transform them into wealth creators and employers of labour using the agricultural sector as a vehicle.
She added the agency has a mandate to develop a new crop of young professional farmers and entrepreneurs that would use agriculture as a tool for wealth creation in the state.
”The agency established four Agro Business Cities in three senatorial districts in the state and set up agricultural processing centres in Akure.
”Since inception, over 2,500 of the youths have benefitted from this programme,’’ she said.
According to her, 630 graduates have also benefitted from Pro-farmers and Agro-entrepreneurs Sustainable Scheme (PASS) since its inauguration in 2014 by Gov. Mimiko.
She said that the beneficiaries, who were trained for 12-18 months were given between N10,000 – N30,000 profit from sales of agricultural products.
The chairman stated that the agency has variety of products, which are specially produced and has WECA logo such as: ‘eja WECA’, ‘Adiye WECA’, ‘Agbado WECA’; ‘Ege WECA’, `Eyin WECA’ and WECA beef from the programme, saying other products would soon be added.
Funmiloye said that the state through WECA has the best government-driven strategy and programmes for youths in agriculture and agri-business in the country.
Two of the beneficiaries, Mr Kayode Oni, a graduate of Sociology and Anthropology 2011 from Obafemi Awolowo, University, Ile-Ife, got N350,000 and Mrs Grace Oni, a graduate of Federal Polytechnic, Ado- Ekiti, got N250,000.00.
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos