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World Food Day: Ondo Disburses N23.9m Loan To 70 Young Farmers

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10 years ago

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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.

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Association Woos Govt, Coys On  Boat Operators  Employments

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1 week ago

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June 12, 2026

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The leadership of Bonny Maritime Boat Association has called on Rivers state Government and oil companies operating in the state to provide sustainable employment to unemployed boat Operators.
The Association also want the government, companies and other relevant employers of labour to provide trainings for boat Operators to enhance their skills
Safety Officer of the Association, Comrade Kingdom Kingsley made this known in  a  telephone interview with  The Tide.
He noted that most of the boat Operators and owners plying Bonny route lacks jobs due to the fleets of boats introduced by Bonny Road Transport that had taken over the passengers to the Island
He noted that passengers are no longer patronizing boats owned by the Association, thereby rendering the operators redundant
“Most of our operators can not afford to feed their families due to no jobs, we don’t want to indulge in crime, government should fix our members with  sustainable jobs to take care of their immediate needs”
He called on oil companies operating in the state to engage their skilled boat Operators in their companies to reduce the sufferings faced by the Association.
The Safety Officer called on the state government  to made funds available to unemployed youths in the state to start up business than roam the streets.
He noted that provision of funds to youths would reduce crime rates and reposition their mindsets for a better life
“The  youths of Rivers state are suffering, have no job to feed their families, thereby indulging in criminality daily”
“The youths need empowerment,  jobs,  recreational facilities and better things of life as citizens of this Nation”, Kingsley said.
CHINEDU WOSU
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FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters

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1 week ago

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June 12, 2026

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The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.
The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this  during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.
The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
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“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.
She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.
The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.
According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.
Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Nkpemenyie Mcdominic, Lagos
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NIWA Harps On  Avoidance Of Leaking Boats

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1 week ago

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June 12, 2026

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The National Inland Waterways Authority (NIWA) has advised Nigerians against boarding boats that require constant bailing of water in the interest of their safety.
 NIWA Area Manager for Cross River and Ebonyi, Mr Stanley Onuoha gave this warning in an interview with Newsmen in Calabar.
Onuoha who spoke on waterway
safety, said that passengers should take responsibility for their safety by inspecting boats before embarking on any journey.
According to him, repeated scooping of water from a boat is a clear indication that the vessel may be leaking.
“If you are entering a boat and see people using a bailer to remove water, it is the first signal that the boat is leaking,” he said.
He urged passengers to check the integrity of boats, including seating arrangements and other visible safety features.
The Manager restated the importance of using safety jackets, saying that damaged jackets may fail during emergencies.
He further said that passengers should ensure that safety jackets were appropriate for their body sizes in order to guarantee effective flotation.
 Onuoha reiterated the need for passengers to fill manifests before departure to aid accountability during emergencies.
The NIWA official further advised travellers to monitor weather conditions and avoid boarding boats when the weather is unfavourable.
According to him, poor weather conditions can trigger strong tidal waves capable of affecting small boats commonly used on inland waterways.
He said that waterway journeys should be embarked upon between 6.00a.m and 6.00p.m for clearer visibility.
Onuoha said  the Authority had continued to sensitise riverine communities to the need for safety precautions during waterway journeys.
He stated that sustained awareness campaigns and enforcement measures had contributed to safety waterway safety in Cross River.
CHINEDU WOSU
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