Connect with us

Agriculture

NCP Approves Repositioning of Agriculture Bank

Published

on

Share

By Tony Obiechina, Abuja 

The National Council on Privatisation (NCP) has given its nod to the recommendations aimed at repositioning the Bank of Agriculture (BOA) to ensure food security for Nigerians.

Chaired by the Vice President, Sen.

Kashim Shettima, the NCP approved the recommendations from the committee on BOA during its second meeting of 2024 held on Wednesday, April 24, 2024, at the Presidential Villa Abuja.

In his address at the meeting, the Vice President emphasized the importance of optimizing BOA as part of the administration’s agenda to provide food security for the nation.

He urged the committee to engage professionals with integrity to manage the process effectively.

Presenting the committee’s report, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who is also the Vice-chairman of the NCP, highlighted the decision to reposition BOA for efficiency and effectiveness. He expressed confidence that the recommendations would guide the Council in revitalizing the Bank of Agriculture and positioning it globally.

One of the Key recommendations includes upgrading the Bank’s ICT infrastructure to automate processes and ensure accountability.

Recall that in 2023, an 8-member inter-ministerial team was set up by the NCP to review the state of affairs at BOA, given its critical role in agriculture and the administration’s commitment to food security. 

Additionally, in 2016, the NCP approved collaboration between the Bureau of Public Enterprises and the Federal Ministry of Agriculture and Rural Development, along with the Federal Ministry of Finance, to restructure and recapitalize BOA.

According to a statement by BPE Head of Public Communications, Amina Tukur Othman on Friday, the BOA, formerly known as Nigeria Agricultural Cooperative and Rural Development Bank, waa established in 1992. 

It is owned by the Federal Government of Nigeria (FGN), with the Ministry of Finance Incorporated (MOFI) holding 60% and the Central Bank of Nigeria (CBN) holding 40%. The Bank is supervised by the Federal Ministry of Agriculture and Food Security (FMAFS).

Agriculture

Residents Groan Under Rising Tomato Prices, Seek Alternatives

Published

on

Share

Some residents in Lagos State have expressed concern over the recent surge in the price of tomatoes, forcing many households to adopt alternatives.

The residents made their views known in separate interviews on Wednesday in Lagos.

A market survey showed that a 50kg basket of tomatoes now sells between N115,000 and N125,000, compared to between N35,000 and N40,000 recorded last month.

Olachi Igwe, a resident of Ago Palace, said the scarcity and high cost of tomatoes had disrupted her household’s meal plans.

“I contacted my usual vendor, but she said tomatoes were scarce and difficult to source.

“A small bowl we used to buy for between N3,500 and N4,000 now sells for as high as N6,000 to N7,000, when available.

“For now, my family will resort to palm nut stew (ofe akwu) until prices stabilise,” she said.

Another resident, Mercy Okeleye of FESTAC, said although her family prefers fresh tomatoes, rising prices have forced her to consider cheaper options.

“I cannot do without fresh tomatoes because of the taste, but I may have to buy broken ones, popularly called ‘esha’, which are relatively cheaper.

“I do not consider tomato paste a suitable substitute because it is not purely made from tomatoes,” she said.

Also speaking, Tope Babalola from Dopemu, said she might adjust her cooking methods if prices remain high.

“I have not bought tomatoes in over a month, but if the price is still high, I will use more onions and peppers.

“I will not resort to artificial additives; I prefer natural ingredients for my meals,” she said.

Joan Ogugua, another resident, said she had already switched to tomato paste to cope with the situation.

“I asked my son to buy tomato paste for our meals. I cannot justify spending excessively on fresh tomatoes when other basic needs must be met,” she said.

Also, Oge Ugwu, a civil servant at Lekki, said she would resort to cucumber stew with the recent price hike.

Continue Reading

Agriculture

Tomato Farmers Predict Steady Price Hike from May

Published

on

Share

The Tomatoes Growers and Processors Association of Nigeria (TOPAN) has predicted a steady increase in the price of the produce between May and June 2026.

The Kaduna State Chairman TOPAN, Rabiu Zuntu, disclosed this in an interview recently in Lagos.

Zuntu noted that although there is no particular time for tomatoes planting season up north, seasonal weather variations can affect the production of the produce.

“Although we can plant tomatoes all-year-round, we cannot assure quality harvest all-year-round.

“Some farmers are harvesting now, while others are transplanting, and others are harvesting.

“Tomatoes are still available for sale but the price of the produce is gradually on the increase.

“Come May/June, the prices of tomatoes will be very expensive, so now is a good time to stock up the produce. There’s always a scarcity within that period.

“This is because of the nature of the weather in the north around that period, the weather is usually very hot and tomatoes cannot resist such hot temperature,” he said.

Zuntu said the price of tomatoes have started rising up in the north.

“A 50kg rafia basket of tomatoes sells from N20,000 as against N7,000 to N10,000 that was sold earlier in the year.

“While a crate of tomatoes up north is sold between N10,000 and N15,000 as against N5,000 to N6,500 sold earlier in the year.

“In most part of Kano State, where there is bumper harvest, they are rounding off their harvest. So, tomato is not that available there and most buyers have turned to where they can find it now, mostly within Kaduna State and some parts of Plateau State.

“So, that’s why the supply has decreased and the tomato supply and cost is determined by the law of demand and supply,” he said.

A 50kg basket of tomatoes in Lagos, at the moment, sells between N40,000 and N60,000 depending on the size and quality.

Continue Reading

Agriculture

Lack of Irrigation Facilities Crippling Dry Season Farming in Oyo

Published

on

Share

The Smallholder Women Farmers Organisation in Nigeria (SWOFON), Oyo State chapter, has said that the lack of irrigation facilities had become a major obstacle to dry season farming in the state.

The Chairperson of SWOFON in Oyo State, Atinuke Akinbade, said this in an interview in Ibadan on Monday.

Akinbade, who shared the experiences of women farmers in the state during the 2025 dry season, said that inadequate access to water for irrigation significantly affected the performance of many farmers during the period.

“It hindered many older farmers from participating in dry season farming and also prevented younger farmers from doing as much as they could in cultivating large acres of land,” she said.

Akinbade explained that farmers who managed to plant during the season struggled to access sufficient water to irrigate their farms, a situation worsened by the effects of climate change.

“Many farmers who depended on streams and wells to water their crops suffered major setbacks because those sources could not provide enough water for irrigation.

“Some farmers had to resort to buying water from commercial water tankers, which increased the cost of production, while at times it was even difficult to get water from the tankers,” she said.

The SWOFON chairperson warned that failure to address the problem could worsen food insecurity in the coming months.

“Even now, rainy season farming has not fully commenced because of the irregular rainfall pattern.

“This is a double burden, and if nothing is done, it may lead to serious hunger later,” she said.

Akinbade, however, acknowledged that the government had organised training for members of the association on home gardening.

She, however, said that little support was provided to address the challenges of dry season farming.

The chairman said that the home garden support package given to members consisted mainly of seedlings and one sprayer.

“They gave us two packs each of maize and pepper seeds, with six seeds in each pack, as well as one sprayer, so that we can grow food for household consumption,” she said.

Earlier, Oluwatoyin Oyedeji, SWOFON Coordinator in Oyo East, explained the severe hardship members of the organisation experienced in sourcing water for irrigation.

“Many farmers are already counting their losses because water was not available to irrigate their farms.

“Those who depended on streams and brooks were badly affected because many of them dried up, while the few that still had water had so little that farmers had to dig deeper into the ground in search of more,” Oyedeji said.

In the same vein, the Women Leader for farmers in Saki East, Musiliu Ashiru, said the absence of irrigation facilities also hampered dry season farming in her area.

According to her, many farmers still engaged in dry season farming have had to pay for water to keep their crops alive.

“Many of them buy water from the dam here to irrigate their crops. It has not been easy for them this year,” Ashiru said.

Continue Reading

Advertisement

Top Stories

NEWS2 hours ago

NDDC Officials, Journalists Inspect 600-Metre Otuogori Bridge Project in Bayelsa

ShareFrom Mike Tayese, Yenagoa Officials of the Niger Delta Development Commission (NDDC), and journalists on Monday inspected the ongoing construction...

NEWS2 hours ago

WAHO Seeks Uniform Standards for Health Professionals’ Education in ECOWAS

ShareBy David Torough, Abuja The West African Health Organisation (WAHO) has reaffirmed its commitment to harmonising the training, accreditation and...

POLITICS2 hours ago

2027: INEC ‌‍⁠⁠‍‍⁠⁠‍‌‍⁠‌‍⁠‍‍Engages Adamawa PWDs on Electoral Process

ShareThe Independent National Electoral Commission (INEC) in Adamawa has sensitised Persons Living with Disabilities (PWDs) on the electoral process ahead...

NEWS2 hours ago

GAIYD Reaches 49,585 People, Targets 100 Per Cent Growth in Youth Devt Impact

ShareBy David Torough, Abuja The Great Achievers Initiative for Youth and Community Development (GAIYD) says it reached more than 49,585...

NEWS3 hours ago

NUPRC Offers 40 Oil, Gas Blocks to Prospective Investors

Share By Tony Obiechina, Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on international oil and gas investors...

NEWS3 hours ago

Ebola: NCDC Defends N10bn Health Security Fund

ShareBy Laide Akinboade, Abuja The Nigeria Centre for Disease Control and Prevention (NCDC) has clarified that the N10 billion emergency...

NEWS3 hours ago

After Sacred Ka’abah Visit in Makkah, Tinubu Recommits to Peace,  Prosperity.

ShareBy David Torough, Abuja President Bola Tinubu has reaffirmed his commitment to national development, peace and prosperity, declaring that he...

NEWS19 hours ago

WAHO Seeks Uniform Standards for Health Professionals’ Education in ECOWAS

ShareBy David Torough, Abuja The West African Health Organisation (WAHO) has reaffirmed its commitment to harmonising the training, accreditation and...

NEWS1 day ago

Firm Promises No Storage Charges On Subscribers’ Wallets

ShareBy David Torough, Abuja A telecommunications firm, ESDIAC Global, has said it does not impose storage charges on subscribers’ wallets,...

NEWS1 day ago

GIGM Brings hireX, PASS to Abuja Nov 4

ShareBy Tony Obiechina, Abuja Premium vehicle hire and all-in-one travel booking are coming to Nigeria’s capitalGIG Mobility (GIGM) has announced...