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World Bank Announces Strategic Shift in Agribusiness, Doubles Financial Commitment

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The World Bank Group announced on Wednesday a strategic pivot in its approach to agribusiness with a goal to create a comprehensive ecosystem for the industry.
Ajay Banga, the World Bank Group President, disclosed this at the Agriculture Flagship Event during the 2024 World Bank Group Annual Meetings in Washington DC.


Banga said the shift would combine a new way of working with a new level of investment by doubling its agri-finance and agribusiness commitments to nine billion dollars annually by 2030.

According to him, the new approach arrives as four trends are fundamentally reshaping the agribusiness landscapes which are climate change, innovations in finance, digitalisation, and solutions to fragmentation.

Banga said the new approach also aimed to take advantage of the demand for food that was set to increase by 60 per cent in the coming decades and respond to a critical need for jobs in emerging markets.
“We stand at a crossroads, and the path we choose today will determine the future.
“The World Bank’s ecosystem approach moves us beyond fragmented efforts to a constellation of solutions that includes everything from warehousing to logistics to production, but with smallholder farmers and producer organisations at the centre.
“The ecosystem is made possible because of the work the bank has advanced over the past 16 months to become a better, simpler, more coordinated institution.
“The more integrated approach will bring together all the institution’s resources to offer comprehensive support and tailored solutions.”
He said the Bank was developing a continuum with the International Bank for Reconstruction and Development (IBRD) and the International Development Association’s (IDA) experience building capacity and services of the public sector.
“Also the financing and private sector access of the International Finance Corporation (IFC) and MIGA.
“Ultimately, this contiguous way of working will be seen and felt by business and government partners alike to increase mobilisation to five billion dollars in 2030.”
Banga listed three examples of the approach to be adopted.
He said the bank’s public sector arms could help countries develop regulations and standards, like those that ensured products comply with export market requirements.
“In the area of climate finance, they can help governments repurpose some of the 1.25 trillion dollars of fossil fuel, agriculture, and fishery subsidies to incentivise greener practices.
“This will unlock a significant source of financing for the agricultural sector,”
Banga said.
He said another approach was for the bank’s private sector teams to focus on everything from debt and equity funding to mitigate risk with guarantees, and overcoming access challenges.
He added that the World Bank together could help smallholder farmers connect to the supply chains.
“IBRD can work with smallholder and producer organisations to improve their productivity and climate resilience, making them viable suppliers that can meet the scale, consistency, and high standards that larger companies need.
“While IFC can come in at later stages to provide financing for equipment, and connect these cooperatives with companies seeking reliable sources of production when ready for private investment.”
Banga said the increase in agricultural productivity and incomes would help create jobs, boost revenues, and improve the quality of food and nutrition.
“Climate-smart production practices will mean fewer emissions and cleaner air and water. Overall, a better quality of life,” he said. (NAN)

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New Medical Doctor Appreciates Ex-Reps Deputy Chief Whip, Hon Adekoya for University Sponsorship

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By Mike Odiakose, Abuja

A fresh graduate medical doctor from Olabisi Onabanjo University, Ogun State, Dr Ogunmakinju Oluwaseun, has expressed touching appreciation to a former Deputy Minority Whip of the House of Representatives, Hon Adesegun Abdel-Majid Adekoya, for the full sponsorship of his university education.

Hon Adekoya is the founder of Prince Abdel-Majid Foundation (PAM Foundation), a non-governmental organisation engaged in uplifting Nigerians, especially the less privileged, children, youths and women.

In an open letter of appreciation, Dr Ogunmakinju Oluwaseun, said his dream of becoming a medical doctor would have been a mirage if it not for the support of Hon Adekoya who stood by him in the past six years.

He declared that Hon Adekoya, popularly known as Attacker from his football-playing days as a youth, took over the full sponsorship of his university education without allowing him to pay a dime.

He also added that through the mentorship of Hon Adekoya he was able to emerge as the President of OOU Students Union.

He declared that his stint as SUG President has already instilled leadership qualities in him.

Dr Ogunmakinju Oluwaseun wrote: “Dear Rt. Hon. Abdul-Majid Adekoya Adesegun, I write with a heart full of gratitude to sincerely appreciate you for being the sole benefactor of my academic journey.

“From my very first day in 100 Level to my final year in 600 Level, your generosity through the scholarship you granted me has been the bedrock of my success.

“Today, by the grace of God and through your unwavering support, I have emerged as a qualified medical doctor. This achievement is not mine alone; it is a testament to your belief in me, your investment in my future, and your commitment to empowering the next generation.

“Words cannot fully capture the depth of my appreciation, but I pray that the Almighty rewards you abundantly, grants you good health, and continues to bless your endeavors.

“Your kindness has not only changed my life but has also inspired me to be a source of help to others, just as you have been to me.

“Thank you for making my dream a reality.”

Ogunmakinju Oluwaseun added: “I wish to sincerely appreciate ATTACKER for taking full responsibility for my tuition fees from 100 Level to 600 Level — without allowing me to pay a dime.

“This rare and life-changing opportunity, made possible through the Prince Abdul Majid Foundation (PAM Foundation), is something I will forever hold in deep gratitude.

“Today, after 6 years of rigorous training, I proudly stand as a Medical Doctor, awaiting the privilege of taking the Hippocratic Oath soon.

“Beyond academics, the leadership lessons I gained under the mentorship of Rt. Hon. Adekoya gave me the edge to emerge as OOU Students’ Union Government President.

“And academically, I am proud to have made a Distinction in of of the courses I offered during my journey through medical school.

“Thank you for believing in me, investing in my dreams, and giving me the platform to grow both as a leader and a scholar.”

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Bandit Tax in Zamfara, Ghost Town in Kwara, signs of Failure – ADC

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By Johnson Eyiangho, Abuja

The African Democratic Congress (ADC) has expressed deep concern over the reported extortion of over N56 million from farmers in Zamfara State by armed groups as well as the chilling video of an entire village in Ifelodun Local Government of Kwara State, completely abandoned to bandits.

The party noted that Nigeria, under President Tinubu and the APC is sliding into a dangerous new phase of state failure.
In a statement by its National Publicity Secretary, Mallam Bolaji Abdullahi, on Friday, the party said a situation where farmers had to pay money to terrorists before they could gain access to their own farmlands, is not just a Zamfara tragedy, but a national warning.
Abdullahi said that a situation where people had to abandon an entire town to bandits, in the very heart of the country, is not just a local challenge but an evidence of national surrender. “When armed gangs can collect N56 million from farmers for the ‘right’ to plant food, the issue is no longer about insecurity. It is about criminal elements contesting the right to govern a part of Nigeria. When criminals can tax citizens at gunpoint, it means the state has surrendered its monopoly of force and state authority is in retreat.” The statement said it is discouraging that this could be happening in a country with one of the largest defence budgets in Africa, yet its farmers were left to bargain with warlords for their survival. It recalled that in the same Zamfara state only a few days ago about 50 people were abducted in one swoop, saying that added to this is the eerie picture of an entire town where all the people, the young, the old and the infirm had to seek refuge elsewhere for fear of bandits attacks. Abdullahi said there were other cases which showed alarming pattern suggesting that other parts of the country considered safe may not be so for long. “The pertinent question therefore is whether the Tinubu-led APC government is still in charge and can still be trusted to do its most fundamental duty, which is to protect the lives and properties of Nigerians. “We recall that in November 2014, President Bola Tinubu, leader of opposition party at the time, asked President Goodluck Jonathan to resign over the Boko Haram Challenges in The North-East of the country. His words: “If you control the armed forces and you are the Commander-in-Chief of the Armed Forces of the Federal Republic, why should any part of this country be under occupation? And you give us excuses every day. In any civilized country Jonathan should have resigned.”He said though the security situation that President Tinubu was using to campaign in 2014 had multiplied exponentially under his party and is currently enjoying great prosperity under his direct watch, no one is calling on him to resign. “The ADC does not want President Tinubu to resign. We only ask him to do his job. We also ask the pertinent question, why did the President think that the security situation in Rivers State warranted the declaration of state of emergency, but the one in Zamfara with industrial scale kidnapping and a direct challenge to the authority of the Nigerian State by way of bandit tax does not even deserve a direct comment from him,” the statement asked.It urge President Tinubu to drop whatever else that pre-occupied him and direct his attention to Zamfara State and other parts of the country menaced by bandits. “If the Tinubu administration cannot guarantee the safety of our farms and farming communities, if people could be forced to abandon their homes out of fear, then it has failed in its most basic responsibility. You cannot boast that you are in charge of your country while your citizens are negotiating their survival with criminals.”

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Oyo govt Denies Fake Pension Verification Notice

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The Oyo State Government has denied a notice currently circulating among pensioners concerning a supposed verification exercise. This is contained in statement in Ibadan on Friday by the Commissioner for Establishments and Training, Prof. Salihu Adelabu. Adelabu described as fake any message requesting pensioners to submit photocopies of their pension certificate, account details, and phone numbers to the ministry.

He urged pensioners to ignore such messages and remain vigilant against misinformation targeting retirees.
He emphasised that the ministry would contact eligible individuals only when it is their turn to receive their benefits. The Commissioner added that all official information is communicated solely through recognised and credible channels.
Adelabu advised pensioners to verify any suspicious message before acting, and reaffirmed the state’s commitment to retirees’ welfare. He said the government would continue to uphold transparency and due process in pension and gratuity matters. He also called on the public to share only verified information, saying protecting pensioners from fraud is a shared duty. (NAN)

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