Agriculture
Remove Subsidy, Deregulate Economy for Nigeria’s Prosperity- CIBN Tasks FG 
The President, Chartered Institute of Bankers of Nigeria (CIBN), Dr Bayo Olugbemi, has urged the Federal Government to totally remove subsidies and fully deregulate the economy in the long run to ensure Nigeria’s prosperity. Olugbemi, who is also Chairman of Council, CIBN, made the call on Thursday at the official inauguration of ‘The CIBN Bankers Hall’ at The Polytechnic, Ibadan, Oyo State.
According to him, it is not only the Nigerian economy that is in tumult, all over the world, there is a problem with the economies, with COVID-19 that is just abating.
“Unfortunately, Nigeria is the worst hit probably because of our mono economy, meaning we have only one major revenue earning which is petroleum products. “And, of course world pricing is a function of what the refined products would be. And as we know because of the war between Russia and Ukraine, the dollar price of oil is going up and definitely it has to affect the final products.“Unfortunately, we are not refining in Nigeria. We have to import using dollars and that is the reason why the government is giving subsidies; but for me as a person, as an economist, a banker and a financial expert in the long run, the best would be to diversify the economy and deregulate. “There shouldn’t be anything called subsidy because at the end of the day, it doesn’t percolate to you and I. The people at the top are the ones enjoying it. “Government has no business with subsidies in the long run, it should deregulate the economy fully and ensure there are modular refineries.”
The CIBN president, said the project being carried out in the six geopolitical zones of Nigeria represents the modest contribution of the institute to the development of banking and finance education in Nigeria. “The Institute is mindful of the fact that government alone may not be able to provide all the funding required to provide quality education especially at tertiary level. “Revamping the educational system in Nigeria is therefore a collective responsibility and we all must play our role,” Olugbemi said.
Gov. Seyi Makinde of Oyo State, represented by Mr Rahman Abdu-Raheem, the Commissioner for Education, Science and Technology, said the present administration had been leveraging on partnership to revamp the education sector. While appreciating CIBN for the smart building said, “the building will facilitate improved academic learning as it will complement the existing ones.”Dr Seye Awojobi, the Registrar of CIBN, also urged the management, staff and students of the institution to make judicious use of the building and ensure that the state-of-the-art facilities provided are well maintained.
He noted that the 150-seater capacity building with free WiFi would facilitate training of professions in the banking sector. In his address, Prof. Kazeem Adebiyi, Rector of The Polytechnic, Ibadan, pledged that the building and its facilities would be maintained while asking for more intervention from CIBN to the institution.
The event was attended by the representative of Olubadan of Ibadan, the Ekerin Balogun of Olubadan, High Chief Olubunmi Isioye, Chairman Governing Council, The Polytechnic Ibadan, Prof Kunle Akinyemi, represented by Mrs Moji Adeyemi, wife of the Alaafin of Oyo and a member of the council, among others. (NAN)
Agriculture
Residents Groan Under Rising Tomato Prices, Seek Alternatives
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.
Agriculture
Tomato Farmers Predict Steady Price Hike from May
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.
Agriculture
Lack of Irrigation Facilities Crippling Dry Season Farming in Oyo
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.


