News
Body Moves To Bridge Financing Gaps Among Farmers
AFEX Commodities Exchange Ltd, an organisation in the commodity exchange market, says it is working assiduously to bridge financing gaps being experienced by smallholder farmers to break the circle of poverty among them.
The Business and Development Manager of the organisation, Mr Akinyinka Akintunde made this known in an interview with The Tide’s source yesterday in Abuja.
Akintunde said the move became necessary following untold hardship suffered by smallholder farmers in spite of accounting for over 70 per cent of the country’s farm produce.
The manager said that in spite of the huge potentials in agriculture, bank credit allocation to the sector was less than five per cent, while financial intervention had made little impact over the years.
He said as part of efforts to bridge those financing gaps, AFEX had launched a number of platforms to engage farmers and to assist them access credit facilities.
“Our participation in the Agriculture Summit Africa is to pronounce the role of AFEX in bridging the financing gap. We are talking of a trillion dollar economy across Africa.
”One of our mandates is to ensure that the small holder farmers, who are responsible for producing over 70 per cent of the products we consume, have a fair return on what they produce.
”This is what formed the partnership between AFEX, Sterling Bank, to create a platform that was unveiled at the just concluded Agriculture Summit Africa.
”The main idea behind it is, producers of commodities will have access to financing using their commodities as collateral and this has brought great benefits for them.
”It allows them to ride on the incremental price of commodities without losing stock. It gives them access to credit and makes them financially independent.
”Once you have all these in place, you discover that the circle of poverty that small holder farmers are used to, gets broken and from there a farmer’s productivity will improve and his livelihood will be much more positively affected.”
The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, has tasked troops of Operation SAVANNAH SHIELD to dominate the battlespace and intensify offensive operations against kidnappers, bandits and other criminal elements in the North Central region.
Shaibu gave the directive yesterday during his maiden operational visit to the Headquarters, Joint Task Force North Central (JTF-NC), at Sobi Barracks, Ilorin.
This is contained in a statement by the Acting Director, Army Public Relations, Col. Appolonia Anele, in Abuja, yesterday.
Shaibu said the Nigerian Army would remain resolute in its constitutional responsibility of safeguarding lives and property, stressing that troops must sustain pressure to decisively deny criminal elements freedom of action.
He assured personnel of continued deployment of combat enablers and operational resources to enhance clearance operations and dismantle criminal hideouts across Kwara and Niger states.
The COAS reaffirmed his commitment to troop welfare, noting that improved welfare remained critical to sustaining morale, operational effectiveness and combat readiness.
He urged the troops to remain disciplined, professional and loyal to the Constitution and the democratically elected government.
Earlier, the Theatre Commander, JTF-NC Operation SAVANNAH SHIELD, Maj.-Gen. Yakubu Yahaya, commended the COAS for his strategic leadership and support.
Yahaya assured that troops would remain committed and steadfast in restoring peace and stability in the region.
The Nigerian Navy says it is expanding training and infrastructure to address emerging security threats and strengthen operational efficiency across formations and units nationwide.
The Chief of Naval Staff, Vice Adm. Idi Abbas, spoke during the inauguration of projects at the Nigerian Navy Basic Training School (NNBTS) in Onne, Rivers as part of activities marking the Nigerian Navy’s 70th anniversary.
Abbas, represented by the Flag Officer Commanding, Naval Training Command (NAVTRAC), Rear Adm. Ebiobowei Zipele, said the projects reflected significant progress made by the navy since its establishment in 1956 from the British Royal Navy.
“Training and infrastructure have improved significantly to meet contemporary security challenges and fulfil the navy’s constitutional responsibilities.”
According to him, the anniversary provides the navy an opportunity to reflect on its achievements and contributions over the past seven decades.
Projects inaugurated included a remodelled female trainees’ hostel accommodating more than 500 occupants and an expanded golf course upgraded from one to nine holes.
Others were the NNBTS fuel dump, Chief Boatswain’s Mate House, renovated pharmacy department and a new theatre block at the Naval Medical Centre, Onne.
Abbas described the new theatre as a major milestone for the navy’s medical services.
“Previously, injured personnel requiring surgeries were referred outside the facility.
“With this theatre, surgeries can now be conducted within the base.’’
He added that a 30KVA inverter had also been installed to guarantee uninterrupted electricity supply at the training school.
The naval chief assured officers, ratings and trainees that the navy leadership remained committed to their welfare and wellbeing.
“These infrastructure upgrades show the commitment of the Chief of Naval Staff to addressing operational and welfare challenges promptly,” he said.
In addition, NAVTRAC distributed educational materials to pupils of Community Primary Schools One and Two, Ogale, in Ebubu-Eleme area of Rivers.
Items distributed included exercise books, school bags and other writing materials as part of the navy’s civil-military engagement initiative.
Zipele said the outreach was designed to strengthen relations between the navy and host communities while supporting children’s education.
“Education remains critical to national growth and youth empowerment. Some of these pupils may eventually serve in the Nigerian Navy,” he said.
He noted that the initiative demonstrated the navy’s commitment to educational development, peace, security and sustainable community relations.
Zipele urged the pupils to remain disciplined, focused and committed to their studies while embracing patriotism, integrity and hard work.
He thanked the Ebubu community for its continued support for the naval training command headquarters and the navy.
-
News4 days ago
Obuah’s Victory Excites Former Lawmaker as APC Primaries Conclude in Rivers West
-
News4 days ago
105 Nigerians Killed In S/Africa In Seven Years
-
Niger Delta4 days agoRoyal Father Endorses PH Arsenal Community, Pledges To Support
-
Sports4 days agoKhana, Akpajo All-Stars Set For Friendly Match ” Morrow”
-
Business4 days ago
Dangote Refinery Ending Nigeria’s Dependence on Imported Fuel – EIU
-
Sports4 days ago
PH To Host 2026 NWFL Super Six
-
Business4 days ago
Commercial Aviation: Bayelsa Begins Operations As Pioneer Airline Launches Maiden Flight
-
Sports4 days ago
FG Approves Nationwide Stadium Overhaul