BUSINESS
FG Attributes Food Insecurity, Climate Change to High Food Prices
By Tony Obiechina
The Permanent Secretary, Budget and Planning, Engr. Nebolisa Anako has identified food insecurity, malnutrition as well as climate change as factors responsible for lower incomes and higher prices of foods in the Country.
The Permanent Secretary who spoke at a workshop on the implementation Strategy for the Nigerian food systems transformation Pathways (NFSTP) in Abuja said this has seriously put food out of the reach of many Nigerians.
“It is suffices to say that food insecurity and malnutrition as well as the influence of climate change has resulted in lower incomes and higher prices of foods”.
“This has indeed put food out of the reach of many and undermining the right to food thereby stalling the efforts to meeting the Sustainable Development Goal (SDG) 2: that emphasized ‘zero hunger,’” he said.
Anako who was represented by Dr Zakari Lawani, the Director National Monitoring and Evaluation in the ministry, described the ongoing programme as a call to action to achieving progress in dealing with issues of poverty, hunger, malnutrition, disease, unemployment, conflict and changing weather patterns.
He further stated that the journey of Food Systems Dialogues in Nigeria started in January, 2021 with Nigeria responding to the call by the Secretary General of the United Nations that countries should look inward and organise different levels of dialogue to identify issues and challenges around the Food Systems and come up with sustainable innovative strategies towards ending hunger and all forms of malnutrition in line with SDGs.
He called on all relevant Stakeholders including Government at all levels, Developmental Organisations to support the implementation of all the priority actions with the 2022 call to Action as well as mobilise more resources and monitor progress.
In his remarks, the National Convener of food System Dialogues who is also Director, Social Development Department, Budget and Planning, Dr. Sanjo Faniran, disclosed that a Committee, 2023 Task Team has been constituted to provide technical support to the development of the 2023 coated Action Plan to enable Nigeria to produce credible Country Report at the Global stock-taking scheduled to hold in Rome in July, 2023.
He informed that a Steering Committee for the implementation of the Food Systems Transformation Pathways at the State levels would soon be inaugurated and will comprise, the Permanent Secretaries of Economic Planning and Agriculture; Permanent Secretaries of Budget and National Planning and Federal Ministry of Agriculture as well as DG Governors’ Forum.
The Committee which will be co-chaired by the Minister of State, Budget and National Planning and FAO Country Representative in Nigeria is expected to provide leadership and advisory support to the implementation at State level.
He was optimistic the that the workshop will serve as a springboard that will lead to effective implementation of the priority actions in the Food Systems Transformation Pathways for Nigeria
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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