Business

Bayelsa, NAOC To Partner On Agric Dev

Published

9 years ago

November 15, 2017

Following the numerous agricultural programmes initiated by the Nigerian Agip Oil Company (NAOC) towards boosting food production in the Niger Delta region, the Bayelsa State Government has expressed willingness to collaborate with the multinational, with a view to enhancing agricultural development in the state.
The Governor who was represented by the Deputy Governor, John Jonah, disclosed this during the 21st Farmers Day celebration of NAOC – Green River Project (GRP), with the theme “GRP actively leading the fortune of the Nigeria Delta”, held at Igbogene, Bayelsa State, last Saturday.
The governor commended NAOC for diversifying their operation from oil to the soil, also embarking on agricultural value-chain that has boosted food security in its host states.
He said that the State has embarked on laudable agricultural initiatives, which include cassava farm at Oloibiri, fish farm, rice farm at Peremabiri among others, adding that the State government is prepared to partner NAOC to boost the agricultural potentials of the State.
In his speech, NAOC’s General Manager district, Marco Rotondi, expressed the need for Nigeria to diversify its economy to agriculture, saying that it is on this premise that the initiative is focused on making it attractive and accessible, as well as encourage the youths and women to embrace modern and mechanized agriculture.
The Vice Chairman/Managing Director, NAOC, Massimo Insulla, stated that for the past 30 years GRP had been a prime source of employment and improvement of the standard of living for the respective host communities and had served as a veritable tool for sustainable development and food sufficiency.
The farmers’ day celebration had offered the platform to individual farmers, farmers’ co-operative society and Agro-Allied organizations not only to showcase their products, produce and services, also to interact with other agriculture stakeholders, he said.
The Chairman, NAOC/AENR/NAE, Umberto Carrara expressed gratitude that the objective of the scheme to introduce and expose host communities to modern technique of farming had been achieved.
The Vice Chancellor, Federal University, Otuoke, Prof. Seth Accra-Jaja, noted that the GRP initiative is capable of leading Nigeria’s agricultural development.
He said that the University has embarked on agricultural programmes, such as incentive share lending, growth enhancement scheme, agric resilience scheme and field alternative scheme, among others.
The Group General Manager, National Petroleum Investment Management Services (NAPIMS) represented by Folanke Jolayemi, pledge the support of NAPIMS to the NAOC joint venture GRP in its lead to encourage agricultural best practices in modern farming and improvement of the livelihood of the people.
The Chief Executive Officer, Oando Energy Resources, Pade Durotonye, said the event is geared towards creating awareness on the importance of agriculture in spearheading the socio-economic development and economic diversification of the country.
He posited that the GRP have successfully sensitized community-based farmers on the importance of agriculture through the introduction of high yielding planting materials, fisheries activities and formation of co-operative societies and how to access micro-credit scheme.
Award of excellent and certificate of merit was presented to deserving GRP farmers.
Highlight of the occasion was display of cultural troupes and performance of the dance floor King, Timaya.

Executive Chairman, Rivers State Internal Revenue Service, Mr. T. Adoage Norteh, with Managing Director, Lulu-Briggs Foundation, Dr. (Mrs) Seinye Luku-Briggs, during the induction ceremony of honorary special marshalls of the Federal Road Safety Corps (FRSC) in Port Harcourt, last Saturday.

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

4 days ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.

Business

Customs Impound N2.35bn Cocaine, 15 Trailers of Rice

Published

4 days ago

May 13, 2026

The Tide

The Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’, Ikeja, has impound Cocaine Substance valued at ?2.35 billion alongside 15 trailer-loads of foreign rice and a wide range of contraband across the South-West.

This was disclosed to Newsmen during a press briefing in Lagos by Controller of the Unit, Comptroller Gambo Aliyu,

Aliyu revealed that the seizures were made over an eight-week period, underscoring intensified enforcement efforts.

According to him, operatives foiled 473 smuggling attempts within the period, leading to the confiscation of 8,794 bags of 50kg foreign rice, 22 used vehicles, 328 bales of used clothing, and 31,705 litres of Premium Motor Spirit (PMS).

He said other seized items include a Mercedes-Benz vehicle and various food products such as poultry, vegetable oil, spaghetti, and sugar.

Aliyu clarified that the rice displayed at the briefing represented cumulative interceptions made at different locations and times across the zone.

“All the rice you see here are accumulative of seizures carried out at different places, at different times, and through different interdictions,”

Beyond the economic implications, the Comptroller emphasized the social cost of drug trafficking, warning that narcotics continue to destroy families and fuel criminal activities.

“It may surprise you to know that many homes are broken due to drugs.

” Our mandate is to cut off the supply chain, and that is exactly what we are doing,”.

Similarly Customs operatives at the Gbaji outpost intercepted a 71 year-old suspect along the Lagos-Abidjan corridor with 6.35kg of cocaine concealed in a Toyota Highlander.

The drugs, comprising both powdered and crystalline forms, were valued at ?2.35 billion.

Under a special enforcement drive, codenamed “Operation Hawk,” the unit also seized 3,340 parcels of synthetic cannabis, popularly known as “Ghanaian loud,” weighing 1,540kg.

The substances, along with three suspects, have been handed over to the National Drug Law Enforcement Agency (NDLEA) for further investigation and prosecution.

In a related operation, officers intercepted four cylinders of mercury hidden in a vehicle along the same corridor. Aliyu described the substance as hazardous and subject to international regulation.

Overall, the Duty Paid Value (DPV) of the seizures stands at approximately ?5.5 billion, reflecting the scale of enforcement activities.

Additionally, the unit recovered ?97.7 million through Demand Notices issued on under-declared consignments.

Aliyu reaffirmed the Service’s commitment to deploying modern technology—including geospatial intelligence, drone surveillance, and real-time tracking—to strengthen border security and clamp down on smuggling networks.

CHINEDU WOSU

Business

Dangote, Nicolai Tangen To Partner In strategic sectors

Published

4 days ago

May 13, 2026

The Tide

Chief Executive Officer of Norges Bank Investment Management, Nicolai Tangen ( manager of the world’s largest sovereign wealth fund) has expressed interest in partnering with Dangote Group to expand investments across Africa, particularly in strategic sectors such as power, energy, renewable energy, agriculture, fertiliser and cement.

This was made known during a meeting of Chief Executive of Dangote Group, Aliko Dangote with Nicolai Tangen, the manager of Norwegian investment institution (with assets estimated at about $1.9 trillion) .

Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.

The engagement reflects growing international investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation across the continent.

Industry observers say the proposed collaboration could create significant opportunities for investments in critical sectors linked to energy transition, food security, industrialisation and infrastructure development.

The Norwegian sovereign wealth fund, regarded as one of the world’s leading institutional investors, has in recent years increased its focus on emerging markets, with Africa seen as a major frontier for long-term investment and value creation.

Analysts believe a partnership between Norges Bank Investment Management and Dangote Group could unlock substantial capital flows into infrastructure and industrial projects across Africa, helping to accelerate economic growth and regional integration.

Nkpemenyie Mcdominic, Lagos