Business
African Farmers Get $200m From American NGO
The Bill and Melinda Gates Foundation, an American NGO, has donated $200 million as grant to help farmers in Africa to improve their productivity and income.
Established in 2006 by a one-time richest person in the world, Mr Bill Gates, whose wealth was estimated at 62 billion dollars as at April 16, 2008, the Foundation is involved in various charitable activities.
One of such activities is the commitment to new techniques to help farmers in the developing countries to grow more food and earn more money.
Gates announced the grant recently in his address at the 35th Governing Council meeting of IFAD in Rome.
A statement from IFAD and made available to newsmen in Abuja on Thursday, quoted Gates as saying that the money was also for agricultural projects that were “already producing great results for farmers” in the continent.
He challenged the UN bodies responsible for fighting hunger and poverty “to unite around a common global target for sustainable productivity and growth in agriculture.”
“The international agricultural community needs to be more innovative, coordinated, and focused to help poor farmers grow more food and commit their energy to concrete, measurable target for increasing agricultural productivity.
“If we can do that, we can dramatically reduce suffering and build self-sufficiency.’’
In a paper, Nigeria’s Minister of Agriculture and Rural Development, Dr Akin Adesina said the number of people going hungry had reached one billion.
Adesina, whose paper was titled “The challenges ahead and how to create a supportive environment to unleash the potential of smallholder farmers”, said the global food prices, which came down in July last year, had gone up again.
He, however, expressed optimism that with sustainable increase in agricultural productivity, about 400 million people would be lifted out of poverty globally.
Adesina called the stake holders in agriculture to focus attention on raising agricultural productivity, create markets and make agriculture a business venture.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.