Connect with us

Business

Stakeholders Want Completion Of 25,000 Silos

Published

on

Stakeholders in Anambra State have urged the Federal Government to complete the 25,000-tonne silo complex located in Igbariam, among others still under construction in various parts of the country.
A survey by The Tide source revealed that the agrarian Igbariam community in Anambra East Local Government Area hosts the largest farm settlement in the South-East zone.
According to our source, 10 gigantic silo cones of 2,500-tonne each had been erected while the necessary fittings inside the silos had yet to be fitted.
However, other structures meant for support services for the silo complex had reached 70 per cent completion.
The site foreman for Mecca Nigeria Ltd, the company handling the project, Mr Vincent Umeh, said that the project had been under construction for over two years because it was being executed in phases.
Umeh attributed the delay in the completion of the project to paucity of funds.
He said, “As you can see, about 70 per cent of the work had been done on all the structures as well as the 25,000-tonne capacity silos; I believe the work would be completed soon.
“We are always on ground to continue but you know the issue of funding by phases of work done is affecting the straight completion of the project.
“It is primarily meant for grain storage as the temperature of the silos would be artificially modulated to preserve grains.”
The Anambra State Government had recently constructed a road linking the Onitsha-Enugu Road, the silo complex and the farm settlement area in the community.
Umeh urged the government agency supervising the project to push for its completion due to its socio-economic and agricultural benefits to the people of the area and Nigerians in general.
Similarly in Kano, a silo under construction in Gaya Local Government area of Kano State, had yet to be completed, an official said.
Acting Federal Director in the state, Alhaji Adamu Muhammed, said ”The Federal Government has only one silo in Kano State, which is yet to be completed.”
He said when completed, the silo, located behind the local government Secretariat, would store 25,000 tonnes of grains.
The ministry had commenced the training of farmers on post-harvest preservation of produce, he added.
According to him, the training is aimed at refreshing the minds of farmers on the importance of local silos, with a view to making the best use of it.
He said, “For now, there is no measure in place to prevent post-harvest losses except the normal traditional way of storing farm produce in most parts of the north, especially in rural areas.
“Local silos are still being used for storing large quantities of farm produce, especially in the rural areas.”
Meanwhile, in Katsina, the Federal Director of Agriculture in the state, Dr Abdu Aminu, has advised farmers to package grains for storage inside air tight sacks, to prevent insect infestation.
Aminu said that grains being stored for a long time should not be stored in sacks that allowed air passage.
He said that the ministry would continue to enlighten farmers on modern storage methods because poor food storage was one of the greatest challenges of agriculture in Nigeria.
The director noted that the 250,000-tonne capacity silo located in Dutsin-ma local government area of the state was not yet functional.
Aminu added that the silo was for the storage of grains such as maize, guinea corn and millet.
He said the government purchased grains from farmers during glut to provide a Guaranteed Minimum Price and prevent post-harvest losses.
In Lokoja, our source learnt that construction work on the 25,000-tonne silo had been completed.
Consultant to the Federal Ministry of Agriculture and Rural Development on the project, Mr Isaac Ogwuche, told newsmen that completion of the project was delayed due to paucity of funds.
He, however, said the challenge had been overcome.
Ogwuche said that the silo was designed for the storage of grains only.
In Ilorin, the Silos Manager, Kwara Ministry of Agriculture, Mr Atofarati Usman, also said the 25-tonne facility was functional.

Continue Reading

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

on

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.
 Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.
According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.
Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.
“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.
The minister noted  the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.
According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.
Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.
He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.
“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.
He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.
“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.
Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.
“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.
“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.
Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.
She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.
Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).
“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.
“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.
Continue Reading

Business

Customs Impound N2.35bn Cocaine, 15 Trailers of Rice

Published

on

The Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’, Ikeja, has impound Cocaine Substance valued at ?2.35 billion alongside 15 trailer-loads of foreign rice and a wide range of contraband across the South-West.
This was disclosed to Newsmen during a press briefing in Lagos by Controller of the Unit, Comptroller Gambo Aliyu,
Aliyu revealed that the seizures were made over an eight-week period, underscoring intensified enforcement efforts.
According to him, operatives foiled 473 smuggling attempts within the period, leading to the confiscation of 8,794 bags of 50kg foreign rice, 22 used vehicles, 328 bales of used clothing, and 31,705 litres of Premium Motor Spirit (PMS).
He said other seized items include a Mercedes-Benz vehicle and various food products such as poultry, vegetable oil, spaghetti, and sugar.
Aliyu clarified that the rice displayed at the briefing represented cumulative interceptions made at different locations and times across the zone.
“All the rice you see here are accumulative of seizures carried out at different places, at different times, and through different interdictions,”
Beyond the economic implications, the Comptroller emphasized the social cost of drug trafficking, warning that narcotics continue to destroy families and fuel criminal activities.
“It may surprise you to know that many homes are broken due to drugs.
” Our mandate is to cut off the supply chain, and that is exactly what we are doing,”.
Similarly Customs operatives at the Gbaji outpost intercepted a 71 year-old suspect along the Lagos-Abidjan corridor with 6.35kg of cocaine concealed in a Toyota Highlander.
The drugs, comprising both powdered and crystalline forms, were valued at ?2.35 billion.
Under a special enforcement drive, codenamed “Operation Hawk,” the unit also seized 3,340 parcels of synthetic cannabis, popularly known as “Ghanaian loud,” weighing 1,540kg.
 The substances, along with three suspects, have been handed over to the National Drug Law Enforcement Agency (NDLEA) for further investigation and prosecution.
In a related operation, officers intercepted four cylinders of mercury hidden in a vehicle along the same corridor. Aliyu described the substance as hazardous and subject to international regulation.
Overall, the Duty Paid Value (DPV) of the seizures stands at approximately ?5.5 billion, reflecting the scale of enforcement activities.
 Additionally, the unit recovered ?97.7 million through Demand Notices issued on under-declared consignments.
Aliyu reaffirmed the Service’s commitment to deploying modern technology—including geospatial intelligence, drone surveillance, and real-time tracking—to strengthen border security and clamp down on smuggling networks.
CHINEDU WOSU
Continue Reading

Business

Dangote,  Nicolai Tangen To Partner In strategic sectors

Published

on

Chief Executive Officer of Norges Bank Investment Management, Nicolai Tangen ( manager of the world’s largest sovereign wealth fund) has expressed interest in partnering with Dangote Group to expand investments across Africa, particularly in strategic sectors such as power, energy, renewable energy, agriculture, fertiliser and cement.
This was made known during a meeting of Chief Executive of Dangote Group, Aliko Dangote  with Nicolai Tangen, the manager of Norwegian investment institution (with assets estimated at about $1.9 trillion) .
Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.
The engagement reflects growing international investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation across the continent.
Industry observers say the proposed collaboration could create significant opportunities for investments in critical sectors linked to energy transition, food security, industrialisation and infrastructure development.
The Norwegian sovereign wealth fund, regarded as one of the world’s leading institutional investors, has in recent years increased its focus on emerging markets, with Africa seen as a major frontier for long-term investment and value creation.
Analysts believe a partnership between Norges Bank Investment Management and Dangote Group could unlock substantial capital flows into infrastructure and industrial projects across Africa, helping to accelerate economic growth and regional integration.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Trending