Agriculture

NNPC To Deduct N242.53bn Fuel Subsidy From FAAC

Published

4 years ago

March 21, 2022

The Nigerian National Petroleum Company (NNPC) Limited says it will deduct the sum of N242.53 billion as subsidy on Premium Motor Spirit (petrol) from the Federation Account in March 2022.
Although it described the proposed subsidy deduction as a value shortfall, the oil firm stated that the fund would be recovered from February 2022 proceeds due for sharing in the March 2022 Federation Account Allocation Committee (FAAC) meeting.
Disclosing this in its latest presentation to the FAAC meeting in Abuja on Friday, the NNPC said, “The December 2021 value shortfall recovery on the importation of PMS amounted to N210.38 billion.
“The recovery consists of December 2021 value shortfall of N176.48 billion plus the outstanding value shortfall recovery of N33.9 billion accrued over the 2021 year. The November 2021 spot arrears of N98.81bn is also outstanding.
“The estimated value shortfall of N242.53 billion (consisting of N143.72 billion for January 2022 recovery plus November spot arrears of N98.81billion) is to be recovered from February 2022 proceed due for sharing at the March 2022 FAAC meeting”, it stated
Last month, the NNPC remitted no money to FAAC due to its huge fuel subsidy spending and subsequent deduction from the Federation Account.
On March 3, 2022, state governors lambasted the NNPC for not remitting any funds at last month’s FAAC meeting.
The Chairman of the Nigeria Governors’ Forum and Governor of Ekiti State, Kayode Fayemi, had also wondered how the oil firm was bold enough to declare profit when it had not been meeting its FAAC obligations.
Fayemi had disclosed this alongside other governors during the Nigerian Governors’ Forum session on natural resources at the Nigeria International Energy Summit 2022 in Abuja.
He specifically noted that in the last Federation Accounts Allocation Committee meeting in February, the NNPC made zero remittance to the federation.
“We’ve just had the Federation Accounts Allocation Committee meeting a couple of days ago and the NNPC contributed zero to the Federation Accounts this month,” the governor had stated.
Various industry operators told our correspondent that unless the fuel subsidy regime was halted, the deductions might continue, as NNPC had been the sole importer of petrol into Nigeria for more than four years running.
The oil firm had also been shouldering the cost of subsidy on petrol all these years. The actual cost of the commodity is far higher than the approved N162-N165/litre pump price.
The President, Petroleum Products Retail Outlets owners Association of Nigeria, Billy Gillis-Harry, explained that the actual cost of petrol without subsidy was usually a little higher than that of diesel.
He stated that if not for subsidy, PMS would be selling around N550 to N600/litre going by the rise in crude price.
The approved subsidised pump price of PMS in Nigeria is between N162 to N165/litre, but oil marketers stated that the actual cost should be a little higher or about the same price of diesel had it been PMS was deregulated.
The PETROAN president further stated that the N3tn that was projected by the government as subsidy spendings in 2022 might double before the end of the year if the crude oil price continues to rise.
Meanwhile, in NNPC’s latest presentation to FAAC seen in Abuja on Friday, the firm stated that its overall crude oil lifting of 8.13 million barrels (export and domestic crude) in December 2021 recorded 2.21 per cent decrease relative to the 8.31 million barrels lifted in November 2021.

Agriculture

KWASANGLaunches Cassava Processing Factory To Boost Value Chain In Kwara

Published

1 month ago

January 2, 2026

The Tide

The Kwara State Government has inaugurated the Kwara State Association of Nigerians in UK (KWASANG) APEX CO-OP Cassava Value-Addition Factory in Osin Pakate, Ilorin East Local Government Area, to boost cassava value addition and agro-processing in the State.

Speaking at the event, Alabi, Commissioner for Agriculture and Rural Development, Afees Abolore Alabi, described the initiative as a cooperative-led programme that aligns with the State’s agricultural development priorities.

He noted with satisfaction that the project demonstrates how farmer organisations, supported by the right policies and partnerships, can drive sustainable agribusiness growth.

Alabi explained that cassava value addition plays a critical role in reducing post-harvest losses, improving product quality, and increasing farmers’ incomes, while also creating employment opportunities for youths and women.

He added that initiatives such as the KWASANG factory contribute to food security, supply of industrial raw materials, and rural economic development.

Alabi acknowledged the partnership of the leadership of KWASANG with diaspora partners, describing their collective investment as a strong signal of confidence in cassava production and processing opportunities within the state.

The Commissioner further noted that cooperative organisation remains a key pillar in the Government’s approach to inclusive agricultural development.

Alabi stated that the role of the Kwara State Government is to provide an enabling environment through supportive policies, infrastructure development, capacity building, and strategic collaboration with cooperatives and the private sector.

He added that the progress being recorded across the cassava value chain reflects the development direction of Governor Abdulrahman Abdulrazaq, whose administration continues to prioritise agricultural transformation through strategic partnerships and investor-friendly policies.

The factory, according to the Commissioner, is expected to process cassava into products such as Gari, high-quality cassava flour, starch, and other value-added derivatives for household consumption and industrial use.

Alabi stated “The initiative also complements ongoing efforts to strengthen the cassava value chain through improved access to inputs, extension support, and market linkages aimed at increasing productivity and profitability for farmers across the State”.

Earlier, the Chairman of KWASANG Farmers, Mustapha Tunde Salawu, appreciated the Kwara State Government for creating a supportive environment that made the project possible.

He encouraged Nigerians in the diaspora, particularly Kwarans, to look back home and invest as a way of contributing to the development of their communities, Kwara State, and the country at large.

Salawu noted that Kwara State’s vast arable farmland and its strategic location as a gateway between the northern and southern parts of the country made it a highly attractive destination for agricultural and agribusiness investment.

“The KWASANG APEX CO-OP Cassava Value-Adding Factory, is expected to reduce post-harvest losses, improve market access for cassava farmers, and stimulate economic activities within Osin Pakate and surrounding communities”, he said.

Agriculture

Livestock Ministry Empowers Women, Youths For Sustainable Growth

Published

1 month ago

January 2, 2026

The Tide

The Federal Ministry of Livestock Development has reaffirmed its commitment to empowering women and youths as key drivers of a sustainable, innovative, and competitive livestock sector in Nigeria.

The Director, Technical, Office of the Permanent Secretary, Dr. Peter Alike, stated this at a Capacity Building Workshop for Women and Youths in the Livestock Value Chain, held in Abuja from Monday, 29th – Tuesday 30th December, 2025.

Alike emphasised that integrating sustainability and innovation across the entire livestock value chain, from feed production and animal husbandry to processing and marketing, is critical to transforming the sector and unlocking its economic potential.

He noted that building the capacity of women and youths remains central to the Ministry’s mandate to reposition livestock as a viable contributor to food security, employment, and national growth.

According to him, the capacity-building initiative is designed as a continuous and transformative programme, equipping participants with practical, hands-on skills that can be directly applied to their farms and enterprises.

He stressed that the training goes beyond theory, focusing on actionable knowledge, mindset change, and long-term competency development to promote sustainable livestock practices.

Alike further explained that the strategic importance of women and youths informed their inclusion as a priority group within the ten pillars of the National Livestock Growth Acceleration Strategy (NL-GAS), the Ministry’s flagship framework for sectoral reform.

In his presentation, an Animal Scientist, Ifeanyi Harry Njoagwuani, described sustainability as a continuous journey driven by science and effective management highlighting the adoption of climate-resilient breeds, improved genetics, precision nutrition through optimized feed formulations, and climate-smart housing systems as critical pathways to sustainable livestock production.

Speaking during a session on biogas production for sustainable livestock development, Ayoade Akande, underscored the need to strengthen extension services and promote private sector investment in modern feed technologies.

He advocated for expanded forage seed distribution networks, support for research and innovation hubs, and enabling policies that promote sustainable ruminant nutrition.

In his closing remarks, the Director of Livestock Extension and Business Development, Joseph Ako Eleojo, urged participants to form cooperative alliances and serve as advocates for change within their communities.

He noted that women and youths were deliberately targeted for the programme due to their strategic role in driving innovation, productivity, and sustainability in the livestock sector.

A major highlight of the two-day workshop was a study visit to De-Dre Solution Poultry Farm, located at Pasali 2, Kuje Area Council of the FCT. The farm, with a capacity of 24,800 birds, produces approximately 650 crates of eggs daily, providing participants with practical insights into efficient and sustainable poultry operations.

Participants at the workshop were drawn from poultry and ruminant farming enterprises across several states of the Federation.

Agriculture

FG, Ogun Distribute Inputs To 2,400 Farmers

Published

1 year ago

October 4, 2024

The Tide

Federal Government and the Ogun State Government, on Wednesday, distributed farm inputs to farmers as part of effort to address food security challenge.
The State Director, Federal Ministry of Agriculture and Food Security, Dr. Toyin Ayo-Ajayi, during the flag-off ceremony of Inputs Redemption Under The National Agricultural Growth Scheme-Agro Pocket (NAGS-AP), in Ogun State, disclosed that beneficiaries of the gesture were primarily rice, maize and cassava farmers across the State.
Ayo-Ajayi commended the Ogun State Government for partnering with the government at the centre for the effort in supporting farmers with inputs that would bring about yieldings for local consumption and likely exportation.
She noted that government is supporting rice, cassava and maize farmers with inputs worth N212,000; N189,000 and N186,000 respectively.
The Permanent Secretary in the State Ministry of Agriculture, Mrs Kehinde Jokotoye, who represented the Commissioner in the Ministry, Bolu Owotomo, stated that traditional farmers are critical in food production, hence the need to encourage and support them with inputs that would bring about desired results during harvesting.
Owotomo said: “Let us make good use of this opportunity, so that the success of this phase will make farmers benefit more from the state and federal governments of Nigeria.”
Earlier, State Coordinator, Federal Ministry of Agriculture and Food Security, Dr. Oluwatoyin Ayo-Ajayi, appreciated the present administration for partnering with the federal government for the initiative, adding that the programme is designed to support farmers at the grassroots level in cassava, rice and maize with inputs such as, seeds, pesticides, herbicides and fertilizers, to boost their production and enhance their livelihood.