Business
IITA Project Gets Funding From Children
School children between ages three and 12 from the Ibadan International School have raised about three hundred and fifty thousand naira (N350,000 ($2,000) to support the International Institute of Tropical Agriculture’s Forest Project.
The donation is part of the school’s efforts towards supporting good causes in the society.
In a statement by IITA, the Primary Years Programme Coordinator at IIS, Mrs. Helen Chatburn Ojehomon, was quoted as saying, “This donation is to support the Forest Project for the positive impact on the lives of the children.”
The IITA Forest Project has over the years provided children and teachers with the opportunity to learn about forest conservation, biodiversity, and the negative effects of deforestation.
Located on about 350 hectares in Ibadan, the IITA Forest Reserve is one of the few surviving and best protected secondary forests in western Nigeria with more than 230 different types of butterflies. It also plays host to 250 different species of birds, and over 450 plant species, most of which have medicinal uses.
Ojehomon explained that funds for the donation were raised by the children through the MathBuster Challenge—a sponsored educational programme that encourages learning and enjoyment of mathematics. Funds raised from the sponsorship go into charity, and sponsors could be friends, parents, and relatives.
This year is the ninth in the series of the MathBuster Challenge, and the programme has supported different projects in the past. The Forest Project of IITA was chosen in 2012 because the students had learnt about environmental degradation and deforestation during their numerous visits to IITA forest; as such the issues brought inspiration and interest in the project to them.
“The children feel this project should continue. And basically, we want to link their learning with action so that they can use their learning to help the community,” Ojehomon said.
The Coordinator, IITA Forest Project, Mrs. Deni Bown, was also said to have commended the children and the school for the gesture, stressing that the conservation of Nigeria’s forest was vital to the survival of the country’s people.
Underscoring the importance of forests to human existence, Bown likened the forest to the human skin.
”The forest is like the protective ‘skin’ of the planet earth. If you remove it, the earth gets hotter. And if we lose our forest to a certain level, we will have irreversible global warming” the forest expert said.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
