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Reps urge CBN to Increase Agric Lending to 7%

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The House of Representatives on Tuesday called on the Central Bank of Nigeria (CBN) to raise agricultural lending from 1.4 per cent to 7 per cent of its total lending over the next five years.

The House also urged the CBN to ensure that 50 per cent of the lending goes to smallholder farmers through microfinance institutions, farmer cooperatives and value chain commodity associations.

This, according to the house, should be at interest rates between 7.

5 per cent and 10.5 per cent.

This resolution followed the adoption of a motion by Rep. Uchenna Okonkwo (LP-Anambra) during plenary in Abuja.

The motion was titled, “Repositioning Nigeria’s Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and De-Risking Agribusiness in Nigeria”.

Okonkwo attributed Nigeria’s struggling economy, widespread poverty and increasing hunger to declining agricultural productivity, driven by low capital investment and insufficient funding.

He noted that NIRSAL’s objectives include strengthening agricultural and financial value chains by promoting best practices in agricultural financing, loan utilisation and repayment, thereby reducing the risks of agricultural lending.

He expressed concern that despite agriculture contributing 40 per cent to the nation’s GDP and providing over 60 per cent of employment, the sector had continued to experience slow growth and underperformance, despite its vast potential.

Okonkwo recommended allocating an additional $3 billion to NIRSAL to support lending to agricultural value chain actors and reduce interest rates for borrowers to between 7.5 per cent and 10.5 per cent.

The House adopted the motion and directed the Committees on Banking Regulations, Agricultural Production and Services, Nutrition and Food Security, and Finance to monitor compliance and report back within four weeks for further legislative action. (NAN)

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Troops Neutralise Notorious Terrorist Auta, others in Zamfara

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Troops of Mobile Strike Team, under Operation Fasan Yamma (OPFY), say they have killed scores of terrorists in a decisive operation around Ƙunchin Kalgo in Tsafe Local Government of Zamfara.The Director, Defence Media Operations, Maj.-Gen. Markus Kangye, made this known on Thursday in Abuja.

Kangye said that a notorious terrorist, known as Auta, alongside his associates Abdul Jamilu and one Salisu, were among those killed in the encounter.
According to him, these terrorists were linked to multiple acts of violence and terrorism within the general area.“The operation marks a significant blow to criminal elements, destabilizing peace and security in the area.“Preliminary intelligence indicates that two additional terrorist kingpins, including one identified as Babayé were eliminated during the operation.
“In a separate incident, Sale Ado Madele (alias Sarki), the eldest son of known bandit leader Ado Alieru, was also reportedly killed,” he said.Kangye said the troops had in another encounter, killed additional 10 terrorists who congregated near a filling station in Danjibga.He said the terrorist were believed to be part of a syndicate brought together by Dogo Sule for a planned attack.“The Nigerian Armed Forces remain committed to safeguarding lives and restoring lasting peace across Zamfara and the wider North-West region.“This operation underscores our resolve to dismantle terrorist networks and bring perpetrators of violence to justice,” he said. (NAN)

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10th Senate Passed 96 Bills, Adopted 18 Petitions-Akpabio

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The President of the Senate, Godswill Akpabio, says the 10th Senate has passed 96 bills out a total of 844 bills introduced within its first two years.He said that the Senate also adopted 18 petitions out of the 80 received.Akpabio made this known on Thursday during a joint session of the National Assembly to celebrate 2025 Democracy Day.

He said that the 10th National Assembly had played its part with diligence and distinction.
“From its inception, the 10th Senate demonstrated a renewed vigour for addressing the country’s complex challenges through purposeful legislation.“This commitment is reflected in its extraordinary output: a total of 844 bills have been introduced within its first two years—an unprecedented figure.
“This figure underscores the Senate’s proactive posture in tackling pressing national issues.“Out of this impressive volume, 107 bills are currently at the committee stage, undergoing the necessary scrutiny and stakeholder engagement that ensures quality legislation.“Two hundred and six bills are awaiting first reading, reflecting a robust pipeline of legislative ideas prepared for formal introduction and 409 bills have advanced to second reading.“Notably, the Senate has passed 96 bills, a record for any Nigerian Senate at this stage of the legislative cycle.“Even more significantly, 52 of these bills have been assented to by the President, translating into enforceable laws that will shape governance, economic development, public welfare, and national security.“These bills include the National Education Fund, Local Government Autonomy Bill, Regional Development Commission, Tax Reform, University and Tertiary Institutions, Agricultural Institutions bills etc.”Akpabio said that the upper chamber had acted decisively on 26 Executive bills, showcasing a healthy balance of cooperation and oversight in its engagement with the executive arm.“These executive-sponsored legislations address key policy areas and benefit from the Senate’s thorough review and refinement before passage.”The senate president said that beyond bills, the 10th Senate had received a total of 80 petitions from citizens and civil society.“This is a testimony to public trust in the institution. Of these, 18 petitions have been fully adopted, providing redress, transparency and institutional accountability,” he said. (NAN)

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JUNE 12: Good Governance is the Cornerstone of Democracy – CAN

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By Laide Akinboade, Abuja

President, Christian Association of Nigeria (CAN), Archbishop Daniel Okoh on Thursday, facilitate with all Nigerians as they commemorate June 12, a day that symbolizes the collective commitment to democracy, freedom, and justice. He added that the legacy of the 1993 elections remains a beacon of hope and a reminder of the nation’s enduring democratic spirit.

This was contained in a statement issued by CAN, signed the CAN President, in Abuja.
.The Archbishop lamented the rate of kidnappings and killings by bandits urged the Federal government take an urgent and sustained action to safeguard lives and property across the country.The statement reads in oarts, “As we reflect on this journey, we urge all Nigerians to embrace unity, peace, and mutual respect.
We must stand firm against religious intolerance and violence in all forms. The government has a sacred duty to protect religious freedoms, ensure that no one is persecuted for their faith, and deliver justice to victims of religious violence.”Insecurity, including insurgency, banditry, and kidnapping, continues to threaten our nation’s stability. We call for urgent and sustained action to safeguard lives and property across the country. CAN remains committed to supporting every initiative aimed at restoring lasting peace and security.”Good governance is the cornerstone of any democracy. We call for greater transparency and accountability at all levels of government. Nigeria’s vast resources must be harnessed to address poverty, unemployment, and inequality, and to improve infrastructure, healthcare, and education. Free, fair, and credible elections are vital to sustaining democratic integrity.”We urge the Independent National Electoral Commission (INEC) to strengthen its systems and processes to enhance electoral transparency and public trust. In a true democracy, the rights to free speech, peaceful assembly, and press freedom must be upheld. We encourage the government to engage citizens constructively and seek inclusive solutions to national challenges.”As we mark this significant day, CAN prays for the peace, unity, and progress of our beloved country. We call on all Nigerians to remain committed to building a just, inclusive, and prosperous nation; one that honors the sacrifices of our democratic heroes.”We also appreciate the efforts of the government, security agencies, and citizens who continue to uphold the values of democracy and national cohesion.”God bless the Federal Republic of Nigeria”, he said.

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