Connect with us

COVER

Shettima Seeks Better Private Sector Investment in Food Production

Published

on

Share

By Tony Obiechina Abuja

Amidst bitting hunger in Nigeria, the Vice President Kashim Shettima, has appealed to the organised private sector (OPS) to scale up investments in Nigeria’s food system. Shettima who is the Chairman, Presidential Food Systems Coordinating Unit, PFSC, made the call in a special address titled ‘Food Systems Transformation’, at the ‘Strategic Workshop on Agriculture and Food Security’ organised by PFSCU, the National Bureau of Statistics, NBS, and Nigerian Economic Summit Group, NESG.

Represented by his Special Adviser, General Duties, Dr Aliyu Modibbo, the Vice president said there is the urgent need for the private sector to join forces with the Tinubu administration to change the narrative in the nation’s food system.
He maintained that based on the efforts of the Tinubu-led administration the food system in Nigeria is currently experiencing a paradigm shift based on the state of emergency declared on food production including the $4.3 billion Memorandum of Understanding, MoU, signed in Brazil by the Federal Ministry of Agriculture and Food Security on the sidelines of the G20 in November 2024 to drive additional support in fertilizer production, hybrid seed production, and agricultural credit lines. The Workshop had in attendance top players in the agricultural sector and other stakeholders. “The private sector is and will remain the engine of economic growth in systems in Nigeria. Your leadership in agribusiness is essential to transform our food systems from subsistence to full-scale commercial agriculture. “Agriculture is our golden egg. The opportunities within production,investment. Nigeria’s over 200 million consumers represent an untapped potential, our domestic market alone presents huge opportunities for return on market that can drive substantial agribusiness profitability. “We recognize that a market-driven approach is the only sustainablepathway to achieving long-term food security. This is why our policies and programmes are designed to support competitive, private-sector-led agricultural growth, ensuring farmers and agribusinesses can operate in an enabling environment that fosters innovation and growth. “Let me assure you that government remains fully committed to addressing the food crisis head-on, ensuring that no Nigerian goes hungry, and leveraging the power of the private sector to build a resilient, market-driven food economy. “To this end, we encourage investment in climate-smart agriculture, regenerative farming practices, and digital solutions that enhance resilience. The government is committed to working with you to deploy modern technologies that can optimise yields, reduce waste, and enhance productivity across the value chain” Shetima said. He, however, said he was optimism that with the private sector based on collaboration the full potential of the nation’s agricultural sector can be unlocked to ensure the food systems become inclusive and sustainable. “Let us seize this opportunity to build a prosperous, food secure Nigeria, one where agriculture is a cornerstone of our national development and a driver of economic prosperity”, he added. The Minister of Agriculture and Food Security, Sen Abubakar Kyari, in a remark said food production could best be driven by private sector. Kyari who was represented by the Executive Secretary, National Agricultural Development Fund, NADF, Ibrahim said, “The Hourable Minister recognizes that agriculture in Nigeria cannot thrive without the full participation of the private sector. “The Ministry remains committed to ensuring that policies, incentives, and financing mechanisms create an enabling environment for private investments to flourish. “Through NADF, we are not just facilitating access to finance but also working to catalyse innovation, unlock new investment opportunities, and developing new agricultural ventures and ecosystems that are capable of accelerating the attainment of food security. “Since its inception, NADF has focused on addressing the long-standing financing challenges in Nigeria’s agricultural sector. Our mandate is clear: to bridge funding gaps, design financial products that work for the sector, and create mechanisms that attract both public and private capital for the development of the sector and its (broken) value chains.” The Executive Secretary, PFSCU, Marion Moon, in a presentation of PFSCU’s 2025 Prioritized Initiatives pointed out that Nigeria needs 3.6 million metric tonnes of food for her population, and how to get this out to feed Nigerians she said, “There are a couple of studies we have looked at. I think the latest one was done by AGRA, which showed we need reserves of almost 3.6 million metric tonnes for our population size. “So it is quite a lot, and I tell people, well, if that is what we need, farmers, that is also a market for you to grow for. We need this. “We are saying, looking at this year, 200,000, could we make sure we go from zero to 200,000 metric tonnes within our strategic grain reserves? Is that realistic? Is that possible? We need to make a decision on that and aim for that specific target. We have talked about early warning systems. The data shows that we should have declared that state of emergency a little bit earlier. So where do these systems sit within the government? “I know WFP as this development partners issue a report, which is excellent, and we are thankful for that collaboration, but it is important that this is institutionalized within government. “We should be also having this information for ourselves. So we are looking at institutionalizing a system within the Office of the National Security Advisor, which is able then to gather this information. “We need to increase our yields. Whether it is in crops, fisheries, livestock, we need better output. You can do it by increasing maybe your land or your number of heads of cattle but you can also increase it if you have the right genetics, seeds, fingerlings. So we want to look at focusing on the genetics. Can we focus on making sure that we have the right seeds? And not just have them but farmers can access, right, higher yielding seeds.” The Executive Director, Uchenna Ogbonna, Ernest Shonekan Centre, NESG, on the sidelines of the Workshop said, “We need the private sector participation and that is the only way we can achieve it because the government cannot produce all the food we need. “The government cannot run the agricultural companies, it has to be the private sector inclusive and that is the only way we can achieve food security in Nigeria. With all we have, we have all the resources to produce enough food and feed the rest of Western Europe. “But right now, we don’t even have enough to feed ourselves because of the challenges we are having in the agricultural sector. “That is why we need the private sector and the government to achieve this goal.”

COVER

UBA Raises N157bn Via Rights Issue to Boost Capital Base

Published

on

Share

United Bank for Africa Plc (UBA) has announced plans to raise N157 billion through a rights issue.The disclosure was made via a notice to the Nigerian Exchange Ltd (NGX).It said in a statement on Thursday that its stock brokers, United Capital Securities Ltd., had submitted an application to the Nigerian Exchange Ltd.

to that effect.
It added its stock brokers had requested for approval and listing of a Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at N50.
00 per share“Trading License Holders are hereby notified that United Bank for Africa Plc, through its Stockbrokers, United Capital Securities Ltd., has submitted an application to the Nigerian Exchange Ltd.” in that regard.
“The rights issue will be on the basis of one new ordinary share for every 13 ordinary shares held as of the close of business on Wednesday, July 16, 2025.“The qualification date for the Rights Issue is July 16, 2025,” the bank noted.The move is part of UBA’s strategy to strengthen its capital base and support its expansion and growth objectives across Africa.(NAN)

Continue Reading

COVER

Benue Uncovers Over 4000 Substandard Schools

Published

on

Share

From Attah Ede, Makurdi

Over 4000 substandard and illegal schools have been uncovered and ready to be shut down across the state.The chief press secretary to the Benue State Governor, Tersoo Kula disclosed this at a press conference in Makurdi.Kula was reacting to a statement credited to former commissioner for education and knowledge management, Prof.

Dennis Ityavyar, said that Governor Alia has stabilised the educational sector since coming on board two years ago.
”No more strikes. Schools are moving on smoothly and in a bid to bring teaching and learning closer to the people and address the problem of younger school leavers in securing admission into tertiary institutions, the governor has established a new university.
”The establishment of University of Agriculture Science and Technology Ihugh, Vandeikyaa LGA is real..The governor has secured the licence, acquired land and made appointments of principal officers.”This is to address the issue of providing admission for the teeming Benue indigenes seeking admission into Nigerian universities.”The Governor has employed over 9700 teachers to energize public primary schools in the state. Apart from the fact that our primary schools would be energized, 9700 youths have been taken off the streets.”The government of governor Alia has also paid the 38 months earned allowance owed to lecturers at the Moses Adasu University, formerly Benue State University Makurdi”, he said.He maintained that renovation of government secondary schools and colleges across the state are ongoing where ongoing construction of new structures is in some public primary and secondary schools to ensure conducive learning environment.”Public primary schools teachers are trained on ITCs to enhance the teaching and learning of information and technology innovations at elementary level.”This government has been able to identify over 4000 substandard schools in the state and have secured insurance cover for Benue State students and paid bursary allowances in law school students in the state”, Kula stated.Benue Moves to Domesticate National Policy on IDPsThe Benue State Government has commenced a validation process to domesticate the newly federal government policy on Internally Displaced Persons (PDP) in the State.Commissioner for Humanitarian and Disaster Management in the State, Aondowase Kunde, stated that upon stakeholders’ inputs into the Internally Displaced Persons policy document, it would be fully launched.He added that the aim is to improve the welfare of the displaced population in the state.Kunde stated this during a two policy validation meeting held at Benue Hotels Makurdi yesterday.He maintained that the document which was passed into law by the national assembly needed to be domesticated in the state in line with the peculiarities of the state.In his remarks, the chairman, House Committee on Humanitarian and Disaster Management, Benue State House of assembly, James Abu Umoro, noted that the state has suffered so many natural and man-made disasters that it requires the policy to be domesticated in the state.Umoru insisted that the house will not hesitate to pass the document into law when presented by the executive arm of government.He said the issue of IDP in the state is a concern for everyone and must be given accelerated consideration at any point in time.On his part, House committee chairman on SDG and Donor Agencies, Peter Uche, noted that in most cases, communities have suffered attacks for more than ten years.”Let me therefore, call on all to support the implementation of the policy document for the displaced to return to their ancestral homes to start their normal farming and business activities”, he stated.The Director General, Sustainable Development Goals, John Akuse, who spoke at the occasion, said the validation of the IDP policy document is vital in paving the way for the displaced population to be adequately taken care of regarding their peculiar needs.

Continue Reading

COVER

Tinubu Honours Buhari, Renames University of Maiduguri after Late President

Published

on

Share

By David Torough, Abuja

President Bola Tinubu has approved the renaming of the University of Maiduguri, Borno State as Muhammadu Buhari University.

“May we now adopt the University of Maduguri as the Muhammadu Buhari University,” Tinubu said at the close of a special session of the Federal Executive Council held to honour Buhari at the Aso Rock Villa, Abuja on Thursday.

The President paid a glowing tribute to Buhari, describing him as “a good man, a decent man, an honourable man” whose legacy of discipline, patriotism and moral uprightness would endure for generations.

Tinubu said although the late president was not without flaws, his unwavering commitment to national service set him apart.

“President Buhari was not a perfect man, no leader is, but he was, in every sense of the word, a good man, a decent man, an honourable man.

“His record will be debated, as all legacies are, but the character he brought to public life, the moral force he carried, the incorruptible standard he represented, will not be forgotten.

“His was a life lived in full service to Nigeria, and in fidelity to God,” he said.

Reflecting on Buhari’s time in office and his long military and civil service, Tinubu praised the late leader’s simplicity, humility, and stoic resistance to the trappings of power.

He said, “He stood, always, ramrod straight; unmoved by the temptation of power, unseduced by applause and unafraid of the loneliness that often visits those who do what is right, rather than what is popular.

“His was a quiet courage, a righteousness that never announced itself. His patriotism lived more in action than in words.”

Tinubu also recounted their political alliance, which culminated in the historic 2015 elections that marked Nigeria’s first democratic transfer of power from one ruling party to another.

“We stood together, he and I. Alongside others drawn from across the political spectrum, regions and tongues, we formed an alliance that enabled Nigeria to experience its first true democratic transfer of power from one ruling party to another.

“When he was sworn in as our party’s first elected President, he led with restraint, governed with dignity, and bore the burdens of leadership without complaint,” he said.

The President expressed admiration for Buhari’s post-office modesty, noting that he returned to his hometown, Daura, without seeking to wield influence behind the scenes.

“When his tenure ended, he returned to Daura; not to command from the shadows or to hold court, but to live as he always had, never seeking to impose his will but content to let others carry the nation forward.

“Even in death, he maintained the serenity that defined him in life: not a sigh, not a groan, just a quiet submission to the will of God. Such was the man Nigeria has lost. Such was the man for whom our nation now mourns,” he added.

Tinubu thanked the Inter-Ministerial Committee and Katsina State Governor, Dikko Radda, for organising a befitting state funeral within 48 hours, describing it as a “profound honour” to lead the burial procession in Daura.

He concluded his tribute with a prayer: “Mai Gaskiya, the People’s General, the Farmer President, your duty is done. May Almighty Allah forgive his shortcomings and grant him Aljannah Firdaus. May his life continue to inspire generations of Nigerians to serve with courage, conviction, and selflessness. President Buhari, thank you. Nigeria will remember you.”

Buhari died on Sunday, July 13, at the age of 82.

Continue Reading

Read Our ePaper

Top Stories

POLITICS2 days ago

Anambra: INEC Registers 96,085 New Voters, Extends CVR by Three Days

ShareThe Independent National Electoral Commission (INEC) said it has registered 96,085 new voters in nine days and extended the exercise...

NEWS2 days ago

Tinubu Honors Buhari, Renames University of Maiduguri after Late President

ShareBy David Torough, Abuja President Bola Tinubu has approved the renaming of the University of Maiduguri, Borno State as Muhammadu...

NEWS2 days ago

C’River First Female NUJ Chairman Describes Tenure as Trial Period

ShareThe first female Chairman of the Nigeria Union of Journalists (NUJ) in Cross River, Archibong Bassey has said that her...

NEWS2 days ago

Gov Makinde Confered With Prestigious Chieftaincy Title of Aare Omoluabi of Akure Land by Akure Kingdom

ShareThe Akure Kingdom will today bestow a prestigious chieftaincy title, Aare Omoluabi of Akure Land, meaning President of the Respectable...

POLITICS2 days ago

PDP Stakeholders Olorunda Pass Vote of Confidence on Gov Adeleke

ShareFrom Ayinde Akintade, Osogbo The Olorunda Peoples’ Democratic Party, PDP, Stakeholders has passed vote of confidence on Governor Ademola Adeleke...

NEWS2 days ago

Town Planners Task Benue Govt on Regional Devt, Master Plans

ShareBy David Torough, Abuja The President, Nigerian Institute of Town Planners (NITP), Dr. Chime Ogbonna, has urged the Benue State...

NEWS2 days ago

Illegal Detention: Court Awards Bauchi Accountant General N100m

ShareBy David Torough, Abuja In a decisive rebuke of official impunity, the Federal High Court sitting in Bauchi has declared...

NEWS2 days ago

Military Cracks Down on Terror Collaborators, Exposes Arms Trafficking by Transport Union Members

ShareBy David Torough, Abuja The Defence Headquarters (DHQ) has announced multiple breakthroughs in its ongoing counter-terrorism operations, revealing that Nigerian...

NEWS2 days ago

Peace, Order Return to Niger LG after Series of Banditry Attacks

ShareFrom Dan Amasingha, Minna Rijau Local Government Area, one of the Frontline Councils under sustained banditry attack is now heaving...

NEWS2 days ago

LG Pensions/Gratuities: Bayelsa Warns Principal Officers Against Sabotage of Quick Payment Policy

ShareFrom Mike Tayese, Yenagoa Bayelsa State Government has warned principal officers of local government councils in the state to desist...

Copyright © 2021 Daily Asset Limited | Powered by ObajeSoft Inc