BUSINESS
FG Urges States to Stop Use of Wooden Boats
The Federal Government has urged state governments to halt the use of wooden boats and adopt those of fiber and aluminum to enhance safety, promote modern water transport and reduce accidents.
Adegboyega Oyetola, Minister of Marine and Blue Economy, said this in a statement to commensurate with the victims and families of the Shagari boat mishap in Sokoto State.
Oyetola said that the tragic mishaps were a direct consequence of the continued reliance on unsafe vessels.
“The Federal Government is appealing to state governments to urgently complement its efforts by investing in modern, non-wooden boats for commercial operations in their states.
“Despite the ministry’s recent interventions, including the nationwide distribution of 3,500 life jackets to each riverine state, incidents of boat mishaps have persisted largely due to the widespread use of wooden boats.
“The structural weaknesses of wooden boats make them unsafe for modern commercial operations and should be phased out,” he said.
Oyetola said that wooden boats had served their time and could no longer be on waterways for safety purposes.
According to him, wooden boats cannot withstand the scale of haulage especially under conditions of overloading.
He emphasised that fibre and aluminium boats, being sturdier, safer, and more durable, represent the global standard for inland and coastal waterway transport.
He called on state governments, particularly those with large riverine populations, to urgently invest in these modern boats, describing such investments as both life-saving and economically strategic.
“Our Ministry has mandated the compulsory use of life jackets, and we have supplied them in thousands to riverine States.
“But life jackets alone cannot guarantee safety without safe boats. I therefore appeal to our state governments to complement the Federal Government’s efforts by deliberately investing in fibre and aluminium boats.
“This is the seed we must sow today to secure a safer, more prosperous tomorrow,” he said.
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Agriculture
FG Empowers 9,870 Farmers with Inputs, Modern Rice Technologies in Kano
The Federal Government, through the Kano State Special Agro-Processing Zone (SAPZ) Programme in partnership with IFAD, has empowered 9,870 rice farmers in Kano with climate-resilient inputs and modern rice production technologies.
This was contained in a statement issued by the SAPZ Knowledge Management and Communication Officer, Rabi Mustapha.
The State Project Coordinator, Aminu Iliyasu, disclosed this on Sunday during the Farmers Field Day at Chiromawa Garin Babba Cluster in Garun Malam Local Government Area.
He said the exercise was organised to expose the farmers to Science-based and practical solutions capable of enhancing yields, improving food security, and boosting rural livelihoods.
Iliyasu described the field day as a celebration of knowledge, innovation and the resilience of smallholder farmers.
He explained that the SAPZ initiative in Kano aimed to expand access to improved technologies, strengthen extension services, reduce post-harvest losses and create market opportunities for rural farmers.
“These innovations are not theoretical. They are practical solutions that farmers can adopt immediately to raise productivity and increase income,” he said, while commending the support of local authorities.
Mustapha said the inputs distributed to 9,870 farmers included FARO 44 improved seeds, Urea and NPK fertilizers, and insecticides, targeting beneficiaries in Garun Malam, Gezawa, Bichi and Bagwai LGAs during the 2025 wet season.
She added that experts trained farmers on soil selection, seed dressing, nursery establishment, land preparation, and timely transplanting at proper spacing.
“They also covered fertilizer management, weed control, Integrated Pest Management and water regulation to boost rice yields.
“The training emphasised harvesting at optimal maturity, drying paddy to safe moisture levels, and fumigation using phostoxin to prevent storage losses,” she stated.
A beneficiary, Salamatu Ali, said the intervention had positioned Kano farmers to boost yields, withstand climate pressures and increase household incomes.
Another farmer, Huwaila Ibrahim, said the programme transformed her approach to rice production.
“Before, we planted without checking whether the land was suitable.
“Now, we first assess the soil to ensure it matches the seed variety. This season, we cultivated FARO 44,” she said.
Ibrahim added that her output increased from 20–25 bags per acre to about 40 bags after adopting the improved technologies.
Agriculture
FG Unveils National Agricultural Sample Survey, 2023 Report for Food Security
The Federal Government has launched the National Agricultural Sample Survey (NASS) 2023 report, towards developing data-driven policies to achieve food security and economic diversification.
Minister of Agriculture and Food Security, Sen. Abubakar Kyari, made this known at the launch of “Disseminating the National Agricultural Sample Survey (NASS) 2023 report” on Tuesday in Abuja.
“As a Ministry, we will apply these findings across the core levers of agricultural transformation, ensuring that our programmes remain data-driven, impact-focused and aligned with the aspirations of the Renewed Hope Agenda.
“A nation that measures well governs well. And food security begins with information security.
“This report should be seen as a practical tool for decision-making, one that guides policy choices, informs investment priorities and accelerates the reforms required across Nigeria’s agricultural sector.
“In a country of more than 232 million people, the strength of our food system depends on the quality of the data that guides national decisions,” Kyari said.
The minister explained that without credible evidence, interventions risk being misdirected and investments may fail to reach the areas of highest need.
The News Agency of Nigeria reports that Food and Agriculture of the United Nations (FAO) in collaboration with the Federal Ministry of Agriculture and Food Security, National Bureau of Statistics and the World Bank launched “Disseminating the National Agricultural Sample Survey NASS the 2023 report”.
He stated that the National Agricultural Sample Survey provides reliable, sector-wide data that helps the agriculture sector track production, understand emerging trends, and guide policy decisions.
Kyari added that the launch and dissemination of the National Agricultural Sample Survey 2023 represents an important step in ensuring that our national choices are informed, targeted, and grounded firmly in evidence.
“This report therefore represents more than statistical outputs; it reflects our commitment to transparency, disciplined planning, and the sustainable development of Nigeria’s agricultural sector.
“The findings of the National Agricultural Sample Survey 2023 present a clear and compelling picture of national production.
“The data we are presenting today is central to that mandate because it gives us the precision required to target interventions, close gaps, and drive the reforms needed to secure our nation’s food system.
“These data points also remind us that every figure reflects real activity across the country, from production to processing to marketing.
“With these digital foundations in place, insights from the NASS move from static data to operational intelligence, enabling a more transparent, efficient and connected agricultural system,” the Minister said.
The Director-General FAO representative in Nigeria, Dr. Hussein Gadain, said the NASS 2023 Report is not just a presentation of data but a celebration of collaboration, commitment, and progress towards building a stronger, more resilient agricultural sector in Nigeria.
Similarly, Adeyemi Adeniran Statistician General of National Bureau of Statistics (NBS) said that the NASS Report 2023 provides critical information on crop production, livestock, aquaculture, labour amongst all.
Adeniran who was represented by David Babalola an official of NBS said that data is essential for shaping effective policies and driving sustainable growth.
According to him, the survey also reaffirms the national bioscience commitment to upholding global best practices in data production through improved methodologies, enhanced field operations, rigorous quality data assurance processes and development of modern digital tools, in Nigeria.
Henry Karshima, Assistant Chief Forest Officer in the Ministry of Environment said that the role of agriculture cannot be overemphasised in food security especially with the launch of the survey.
Mr Abdulhameed Umar National Project Coordinator for Agro-Climatic Resilience in Semi-Arid Landscapes expressed satisfaction with the project in the line of restoring land degradation through data collection.
On his part, Asad Alam, the Senior Economist and Project leader 50×2030 Initiative World Bank Nigeria Development Data Group, Economic Division commended the initiative of making data a priority in agricultural activities to ensure food security.
BUSINESS
CBN Scraps Cash Deposit Limits, Raises Weekly Withdrawal
By Tony Obiechina, Abuja
The Central Bank of Nigeria (CBN) yesterday removed all limits on cash deposits and raised the weekly cash withdrawal limit across all channels to N500,000, up from N100,000.
The development was contained in a circular issued by the CBN to all banks, entitled: “Revised Cash-Related Policies,” signed by Dr.
Rita Sike, Director, Financial Policy & Regulation Department.According to the CBN, “the revisions form part of ongoing efforts to moderate the rising cost of cash management, address security concerns, and curb money laundering risks associated with the country’s heavy reliance on cash.
“The apex bank noted that the cash-related policies previously issued in response to evolving circumstances were aimed at reducing cash usage and promoting the adoption of electronic payment channels.
“However, with time, the need to streamline and update these provisions to reflect present-day realities became necessary.
“Effective January 1, 2026, the circular announced several key changes. The cumulative deposit limit has been removed, and the fee previously charged on excess deposits will no longer apply.
“The CBN also stated that the cumulative weekly withdrawal limit across all channels has been reviewed to N500,000 for individuals and N5 million for corporates.
“Withdrawals above these thresholds will attract excess withdrawal charges as specified in the circular.
CBN orders banks to reimburse APP fraud victims within 48 hours
“In addition, the special monthly authorisation that allowed individuals to withdraw N5 million and corporates N10 million once a month has been abolished.
“For Automated Teller Machines (ATMs), daily withdrawal remains capped at N100,000 per customer, with a maximum of N500,000 weekly, which forms part of the overall weekly withdrawal limit applicable to all channels, including point-of-sale (POS) transactions.
“The circular further disclosed that excess withdrawals above the stipulated limits will attract charges of 3 percent for individuals and 5 percent for corporate customers, shared in the ratio of 40 percent to the CBN and 60 percent to the operating bank or financial institution.
“Banks have also been directed to load all currency denominations in ATMs, while the existing limit on over-the-counter encashment of third-party cheques remains pegged at N100,000.
“Such withdrawals will also be counted as part of the cumulative weekly limit.
“Additionally, banks are required to render monthly returns to the relevant supervisory departments, including the Banking Supervision Department, Other Financial Institutions Supervision Department, and the Payments System Supervision Department.
“The CBN clarified that revenue-generating accounts of federal, state, and local governments, as well as the accounts of microfinance banks and primary mortgage banks held with commercial and non-interest banks, are exempted from the new withdrawal and excess-fee rules.
“However, the long-standing exemption previously enjoyed by embassies, diplomatic missions, and aid-donor agencies has been removed.”

