Business
RSG Partners FG On YEAP
The Rivers State Com
missioner for Agriculture, Barr. Onimin Jack, has expressed appreciation to the Federal Ministry of Agriculture and Rural Development (FMARD) for choosing Rivers State as one of the states in the federation for the operation of the Youth Employment in Agriculture Programme (YEAP).
The commissioner while addressing newsmen shortly after inaugurating the state steering committee of YEAP in Port Harcourt, Wednesday, disclosed that the state is the first in the South South region and a lot of work has been done in empowering the youth in the area of agriculture.
According to her, the programme was targeting to kick off with 2000 youths, and above.
“We will start with about 2000 but eventually it may get up to 5000 -6000”, she said.
On how the Wike administration plans to use agriculture to create employment as it clocks one year, the agric boss explained that as they start their agric business, the youth automatically become employers of labour themselves.
“What we are doing is to try and develop agriculture as much as we can in the state.
“Even if you start with the clearing of the land, people are employed, once you make up your mind to engage in any agric project, employment has started”, she said.
On how to sustain the programme, Jack explained that the ministry was being multispectral.
She said other ministries like ministry of youth , women affairs, commerce and employment, amongst others, would have point persons to monitor the process.
Answering a question on the poor state of the various Agricultural Development Programmes (ADP) in the state, the commissioner assured that the ministry was in the process of making them functional.
“The ADP is an auxiliary of the ministry of agriculture and it is part of what we are activating because they are core business extension services to the farmers and agric business persons that need their services”, she said.
Earlier, the State Director, Federal Ministry of Agriculture and Rural Development, Dr Ime Umoh, expressed gratitude to the Food and Agricultural Organisation (FAO) and YEAP for accepting to select Rivers State for the programme.
He disclosed that YEAP was designed to generate employment and income along area based priority agric value chains and also improve their livelihood, facilitate food and nutrition, security as well as enhance economic and social stability of the country.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.