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CBN Disburses N1.452trn For Real Sector Projects

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The Central Bank of Nigeria (CBN) said it has disbursed N1.452 trillion to 337 large real sector projects in agriculture, manufacturing, services, and mining under the Real Sector Support Facility as part of the effort to diversify the nation’s economic base.
The Director, Corporate Communications Department CBN, Osita Nwanisobi, who disclosed this yesterday, during “CBN Special Day” at the ongoing 33rd Enugu International Trade Fair, also noted that N948 billion was disbursed to 4,478,381 smallholder farmers under the Anchor Borrowers’ Programme.
Nwanidobi stated that the programme was yielding the desired objective as the beneficiary farmers cultivated 5.2 million hectares of farmland, creating 12.6 million direct and indirect jobs across the country.
Reeling out other interventions the apex bank had taken to revive the economy and create access to credit, he said CBN had extended the interest rate of 5% across all its intervention loans to March, 2023.
“The recently launched Tertiary Institutions Entrepreneurship Scheme (TIES) is an innovative financing model that will create jobs, enhance the entrepreneurial ecosystem and support economic growth and development through Agribusiness, Creative Industry, Science & Technology and Information Technology/software development.
“The broad objective of the 100 for 100 Policy on Production and Productivity (PPP) is to boost production and productivity, necessary to transform and jumpstart the productive base of the Nigerian economy.
“It is also expected that the Initiative will reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports the right companies and projects with potentials to immediately transform Nigeria’s productive base at every 100 days.
“The Bank has so far disbursed the sum of N29.51 billion to 31 projects, comprising 16 in manufacturing, 13 in agriculture, and 2 in healthcare sector. The RT200 FX Programme, which stands for the ‘Race to US$200 billion in FX Repatriation was recently announced by the CBN in consultation with the Bankers’ Committee”, he said.
He continued that, “under our Targeted Credit Facility (TCF), which was meant to cushion the severe effects of Covid-19 pandemic, we have disbursed N368.79 billion to 778,000 beneficiaries comprising 648,052 households and about 130,000 SMEs.
“The Bank also recently disbursed $8.50 billion to 6 healthcare projects under the Healthcare Sector Intervention Facility (HSIF), bringing the cumulative disbursements to N116.72 billion for 124 projects, comprising 31 pharmaceuticals, 56 hospitals, and 37 other health-related services.
“As part of the effort to further support the resilience of the healthcare sector, an additional tranche of N14.7 million was disbursed to five Researchers under the Healthcare Sector Research and Development (HSRD) Grant.”
Nwanisobi, however, noted that the theme of the fair, “Opening up Nigeria Business Windows for
Competitiveness in the Emerging Global Market”, could not have come at a better time than now when the world economy is gradually opening up to businesses after the global lockdown that affected economies, leading to recessions.
While commending the leadership of the Enugu Chamber of Commerce, Industry, Mines and Agriculture for her efforts in organising this year’s Trade Fair, he said CBN was delighted that they are driving pragmatic conversations on reshaping the Nigerian economy through the Fair.
“This perfectly fits into the Bank’s drive towards diversification of the nation’s economic base and encouraging the export of non-oil commodities.
“It also underscores the CBN Governor’s clarion call on Nigerians to not only focus on the production of commodities in which they have comparative advantage but to produce, add value and export so as to grow Nigeria’s economy and create jobs.”
Earlier in address, the President of ECCIMA, Jasper Nduagwuike, commended CBN for its interventions in various sectors of the economy, adding that it had more than proved its commitment to seeing to the welfare and wellbeing of the Nigerian economy.

 

 

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Agriculture

Poultry Farmers Get 40,000 Birds As Grant In Cross River

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Over 1,000 poultry farmers in Cross River State, brought under seven different clusters, have been supported with a grant of 40,000 birds.
The Tide’s source disclosed that the farmers are to grow the birds in the State Government-owned ultramodern poultry farm named Calachika.
According to the source, the 40,000 birds, which are all broilers, is a grant under the World Bank assisted Agro-Processing Productivity Enhancement and Livelihood Improvement Support (APPEALS) Project.
Speaking the State Deputy Governor, Ivara Esu, noted the initiative will ensure constant production and supply of matured poultry birds to feed the chicken processing plant that has already been put in place and operational at the Ayade’s Industrial park.
According to him, the State Government “is happy that a lot of the farmers that belong to the clusters are youths, because Governor Ben Ayade has been passionate about youth engagements and empowerment”.
Esu commended the World Bank and the management of the Appeals Project, both at the national and the state level, noting that many have been engaged and made more efficient in the chosen agricultural value chain through different Appeals initiative, which cuts across such areas as poultry, rice, and cocoa value chain.
The Deputy Governor charged the farmers to pay good attention to things they have to do in order to prevent infection in the poultry and reasonably reduce the mortality rate.
National Coordinator of the Appeals Project, Alhaji Muhammad Jordi, on his part, said bringing over a thousand farmers together under different clusters to teach them and help them manage their chosen business is a commendable initiative of the Cross River State Government, noting that the Appeals Project in the State “has been exemplary”.
The State Project Coordinator of APPEALS,  Mr.  Marcel Agim, noted that the farmers know what to  do in different  clusters and that the 40,000 birds will be doubled in two to three  weeks  time.

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Agriculture

FG Trains 200 Youths Abroad On Crop Production, Animal Husbandry

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The National Agricultural Lands  Development Authority (NALDA) said it has sent 200 young farmers for capacity building on crop production and animal husbandry to Israel and Morocco.
This is part of the continuation of the National Young Farmers Scheme, (NYFS) programme that President Muhammadu Buhari flagged off some months ago.
Speaking during the official handing over of travel documents to the beneficiaries in Abuja, the Executive Secretary, NALDA, Prince Paul Ikonne, explained that it is a continuation of the NYFS programme that President Buhari flagged off sometime ago.
He said the programme assisted Nigeria in terms of food availability during the emergence of the novel Covid-19 pandemic, which prevented Nigeria from begging food from  other countries
The NALDA scribe said the aim is also to make agriculture more attractive to the youths as the training will expose and equip them on modern agriculture and agribusiness, which will lead to massive food production for Nigerians and for more exportation of food.
Ikonne further said sending the 200 young farmers to Israel and Morocco is part of the new programme called ‘Aggressive Food Production’ in collaboration with the Ministry of Education.
He also said that the youths who are drawn from the 36 states of the federation will be there for six days while they undergo intensive training on greenhouse farming and animal husbandry,  explaining that Israel and Morocco were chosen because they have the expertise in these areas.
“We are running a programme we call ‘Aggressive Food Production’ and this we are doing in collaboration with the Ministry of Education as the Minister of Education, Malam Adamu Adamu, is providing us with land from the universities for this.
“So, we are sending them to countries that we know have string expertise on what we are doing, Israel and Morocco.  This is to enhance their knowledge and expose them to modern day practice in crop production and animal husbandry.
“200 young farmers would be sent for capacity building in Israel and Morocco. When these people go and get exposed, the next question will be how will you  engaged and integrate them?.
“We already have a platform like the institutional properties, the land from the schools, state governments and their communities, which will definitely make it easier for them to be integrated.
“They will begin to teach others what they saw there and how to do it and get  better yield.
“NALDA’s own will be much different and beneficial to the country because we have where they will be integrated when they come back from the training. That is what makes NALDA’s programme more sustainable and unique”, he stated.
Explaining the criteria used to select the 200 young farmers, Ikonne said “we sent out messages to stakeholders, and the stakeholders selected and sent their names, and we are making sure that all the 36 states in the federation would participate in this training so as to  be able to train the people within their state and their locality”.
He, however, made it clear that, “the training is budgeted for in our budget because what ever that is not budgeted for cannot be implemented. The most important thing we have budgeted is the capacity building.
“No matter what it cost to send people to get training, the most important thing is we are building a new generation of farmers that would drive Nigeria’s agriculture”, he said.
The NALDA boss charged the 200 youths to be good ambassadors of Nigeria, charging them to focus on what they would be trained on, saying that they have a great task to deliver when they return as far as training other young farmers back home is concerned.
Some of the beneficiaries spoke on the training and what they expect after the training.
Hassan Atiku, a farmer from Katsina State, said “I cultivate maize and millet beside foodstuff. I am very happy that I am one of the beneficiaries to this trip. I want to appreciate the effort of the President by building youth capacity on agriculture because building the youths is building the nation. I am ready to acquire more knowledge on crop production”.

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Agriculture

Group Proffers Solutions To Nigeria’s Food Crisis

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A group, Actionaid Nigeria, has reiterated the need for the three tiers of government to commit 10% of their annual budget to agriculture, focus on strategic areas of extension services, and to provide credit for women.
The organisation also advised government to provide labour-saving technologies, inputs, post-harvest losses reduction supports like training, market access, processing and storage facilities.
Its Country Director, Ene Obi, gave the counseling at the National Dialogue and Dissemination on Nigeria’s Performance at the 3rd Biennial Review Exercise on the Implementation of the Comprehensive Africa Agriculture Development (CAADP), Wednesday in Abuja.
She said: “For Nigeria to be on track in meeting the 2014 Malabo Declaration Commitments, going forward, we hope that the three tiers of government would commit 10% of their annual budget to the agricultural sector. This will  support at least 6% growth rate for the sector as postulated in the CAADP framework.
“And investments should focus on strategic areas of extension services, access to credit, women in agriculture, youth in agriculture, appropriate labour-saving technologies, inputs, post-harvest losses reduction supports (processing facilities, storage facilities, trainings, market access, etc.), Climate Resilient Sustainable Agriculture (CRSA)/Agroecology, Research and Development, Monitoring and Evaluation, as well as Coordination.”
Obi noted that Actionaid conducted a research and the data through the VABKIT reflected the realities of smallholder women farmers across the 36 states and the Federal Capital Territory (FCT).
“This shows that nationwide, smallholder women farmers currently have only 18% access to processing facilities, 16.60% access to storage facilities, 13.50% access to off-takers/access to markets, 9.60% access to transportation for agricultural produce, and 42.30% access to trainings.
“On Extension Services, smallholder women farmers have access to only 5.26% farm demonstrations and 19.47% farmers field schools.
“On agricultural credit, they have access to less than 23% of existing credit facilities, and only 4.77% access to agricultural insurance”, she revealed.
Meanwhile, the Permanent Secretary, Ministry of Agriculture and Rural Development, Ernest Umakhine, said the Ministry has begun the process of strengthening evidence-based data for effective policy formulation and tracking of performance.

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