Nation
NISAL Assures On Economic Transformation
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc), has restated its commitment to realising its vision of “transforming the economy, delivering inclusive growth and positively imapacting the lives of Nigerians”.
NIRSAL Plc’s Managing Director/Chief Executive Officer, Aliyu Abdulhameed, said this in a statement made available to newsmen in Calabar.
He is quoted as making the commitment during the official launch of the Gbagolo Integrated Farms Limited and TOAJ Nigeria Limited projects in Akpabuyo Local Government Area of Cross River State.
Abdulhameed said the NIRSAL, in its bid to actualise its vision, supports all sizes of businesses, whether small, medium or large across the length and breadth of the country, and both projects were testaments to this.
With both projects, the poultry and cocoa value chains in Cross River State received a boost that is expected to generate significant gains for the local and national economies.
This follows the issuance of a 50% Credit Risk Guarantee (CRG) and 20% Interest Drawback (IDB) by the NIRSAL Plc on the respective loans of Gbagolo Integrated Farms Limited – a livestock producer and TOAJ Nigeria Limited – a cocoa dealer.
Leveraging on its CRG – an instrument that NIRSAL Plc utilises to share agribusiness risks with financiers – NIRSAL Plc facilitated the approval and disbursement of N81.8 million and N150 million from Union Bank Plc and Sterling Bank Plc, respectively.
Gbagolo Integrated Farms Limited will use its N81.8 million Term Loan to finance the purchase of 25,000 Point of lay birds, 25,000 capacity battery cages and feeding compliments.
TOAJ Nigeria Limited, on its part, will channel its N150 million Export/Trade Finance facility towards the sourcing and purchase of cocoa for export.
“The injection of these finances into the poultry and cocoa value chains in Cross River State will create a positive knock-on effect for players along each segment of both value chains and the agribusinesses’ host communities at large.
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Haniel Jack Foundation Awards Five Rivers Indigenes Scholarship
The Ibanibo Haniel Jack Foundation has awarded scholarships to five Rivers State indigenes in different tertiary institutions.
The scholarship programme was announced on Easter Sunday by Rev. Dr. Samuel Wachukwu, who is also the presiding pastor of Redeemer Baptist Church, at No. 44/46 Lumumba Street, Mile Two Diobu, in Port Harcourt.
Speaking, the chairman of the occasion, Barrister Karibi George, advised the recipients to justify the scholarship by ensuring that they put in their best and finish at the expected time.
George reminded them that opportunity comes but once and they should take advantage of the opportunity that comes their way judiciously.
“Those of you who are beneficiaries of this scholarship should also remember to help others and the resurrection of our Lord Jesus Christ.
“I advise you to justify the opportunity given to you and make the man who gave you the scholarship, yourself, and your family proud,” Barrister George said.

He explained that the scholarship spans undergraduate and postgraduate levels in various high institutions in Nigeria. He thanks Sir Jack for the gesture.
The scholarship is to promote education in our society, most especially for Rivers indigenes, and equally assist those who cannot immediately afford tuition fees.
It will interest you to know that
The scholarship was borne out of God’s blessings, and this is a way to give back to the society. Besides, two of the beneficiaries are direct employees of the chairman of the foundation, sir.
Ibanibo Haniel Jack, who is also the chief executive officer (CEO) of White House Hotel, in Port Harcourt.
Chief Prezi Diffa, while presenting the awards, commended Sir Ibanibo Haniel Jack, who has deemed it necessary to give back to society.
Chief Diffa equally advised the beneficiaries to take their academics seriously and count themselves lucky.
“The man who has given you this scholarship wants to better your lives, so please put in every effort to ensure you finish the school with flying colors,” Chief Diffa said.
The beneficiaries are Isoboye Haniel Douglas, Naomi Douglas, Charles Batubo, Ajé Sokari, and
Dakoru Owen Amachree.
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