Govt to train 100,000 graduates as extension workers – Osinbajo

PM NEWS

Vice-President Yemi Osinbajo says that the Federal Government will train 100,000 graduates as extension workers out of the 500,000 graduates to be engaged as teachers.

He made the declaration while launching the agricultural sector roadmap entitled: “The Green Alternative: Agriculture Promotion policy 2016 to 2020’’ in Abuja.

The vice president also called for policy alignment of all government’s economic plans.

“This particular alignment is crucial. Just to give some obvious example: you cannot have a policy of encouraging local production of food and on the other hand have a high tariff on imported agricultural equipment.

“There is no way that we can encourage local production when we allow unbridled importation of the same things that we are trying to produce.

“There is no way we can do the scale of agricultural production both for domestic consumption and export without ensuring local improved seedling development alongside those that we import.

“And of course encouraging the work of the agencies of the Ministries of Science and Technology who have been making great breakthroughs in local development of agricultural equipment.

AGRIC, MANUFACTURING SECTORS TO ENJOY SINGLE DIGIT INTEREST – CBN

Agronigeria

The Central Bank of Nigeria (CBN) has assured that the manufacturing and agricultural sectors will enjoy single digit interest rates as it would fast track lending of a reserved special intervention fund earmarked for the sectors.

The CBN has set aside N235 billion and N750 billion as intervention funds for the manufacturing and agricultural sectors respectively, which it describes as pivotal in the resuscitation of the nation’s ailing economy.

The CBN Director, Banking Supervision, Mrs. Tokunbo Martins, made the disclosure in Abuja, while briefing the media on the outcome of Bankers’ Committee meeting. She also revealed the joint decision by CBN and Bankers’ Committee to increase limit of banks’ FOREX sale to Bureaux De Change (BDCs) to $50,000 from $30,000 it was two weeks ago.

CBN DISBURSES N16.4BN TO FARMERS

Agronigeria

The Central Bank of Nigeria has so far given out N16.4 billion to 78,000 farmers. This disbursement was done through its recently launched Anchor Borrowers’ Scheme.

This was made known at the 326th meeting of the Bankers’ Committee – a policy making body for banks, in Lagos, yesterday. The disbursement includes the acquisition of hectares of land for farming and the receiving of about N210, 000 by 78,000 registered farmers.

The Director of Banking and Supervision, CBN, Tokunbo Martins, who addressed finance correspondents at the end of the meeting, said that plans are now in top gear to replicate this in other regions, particularly in Ebonyi and Anambra states soon.

She said the committee had resolved to support the anti-corruption effort of the government and the other reforms aimed at bringing stability to the economy.

Martins also disclosed that access to financial services has been made easier and cheaper with the licensing and approval of the super-agents that would distribute banking services at lesser cost, with mandates to reach the most interior communities in the country.

Meanwhile, the President of the Manufacturers Association of Nigeria (MAN), Dr. Frank Jacobs, said CBN’s renewed focus on sector has improved the lots of his members, as the foreign exchange allocations have been raised up beyond complain.

According to him, it is commendable that the governor kept to his promise to manufacturers after a meeting with him and can boldly say that it is no longer what it used to be.

Jacobs said that while there are gaps left in the sector’s demand, the response by CBN in prioritising and increasing foreign exchange allocation to manufacturers is now keeping them engaged and productive.

The Managing Director, Fidelity Bank Plc, Nnamdi Okonkwo, assured that CBN was still working out the modalities for the disbursement of accumulated funds from the reduced cash reserve requirement (CRR), which banks are eager to commence action on as soon as the directive is released.

During the flag-off of the scheme last year, Governor, Central Bank of Nigeria, Godwin Emefiele said that it was designed to create economic linkages between farmers and processors, not only to ensure the output of rice and wheat, but also to bridge the gap between production and consumption.

“Over 200,000 rice and wheat farmers will benefit from the scheme ranging from N150,000 to N250,000 to assist in procuring necessary agricultural inputs,” Emiefele noted.

FOOD AND BEVERAGE SECTOR: 3 MILLION WORKERS MAY LOSE JOBS TO FOREX CRISIS

Agronigeria

In what may be termed a fallout of the current forex crisis rocking Nigeria’s economy,Organized  Labour, yesterday,expressed fear that the food, beverage and tobacco sector of the nation’s economy was on the verge of shutting down .

This is with over three million jobs becoming at risk due to the inability of companies to source foreign exchange to import raw material for operations.

Already,major companies in the sector, such as ,7-UP Bottling Company Plc, Nigerian Breweries Limited,Nigerian Flour Mills, Guinness Plc, Nigerian Bottling Company, Friesland Campina Wamco Plc, among others, have sought for discussions with labour on retrenchment of workers.

Reports indicate that in the last three months, no fewer than 1,500 workers had been sacked in the sector as employers seek ways of coping with foreign exchange crisis, among other challenges.

Speaking to newsmen in Lagos,officials of  Food, Beverage and Tobacco Senior Staff Association, FOBTOB, called for Government’s intervention on the crisis if the jobs of the over three million are to be saved.

President of FOBTOB, Quadri Olaleye, claimed that employers in the sector had devised every opportunity to sack workers, adding that between the 2012 and the first half of 2015, over 3,000 workers were sacked in the guise of re-engineering, restructuring, right sizing, downsizing, redundancy and re-organisation. He lamented that over the years, the same excuse of difficult business terrain, dwindling profit, irregular and insufficient power supply, and so on had been given.

He said: “The current situation has reached a pathetic level, because it seems all the employers in our sector are in competition with each other on who can lay off the most workers. “Every company is now calling for a downsizing of the workforce, and this time under the guise of lack of foreign exchange due to the Federal Government’s recent policy on foreign exchange. “We are aware that not all the raw materials used in our industry can be sourced locally. Where they can be found, they are mostly not available in commercial quantity. “That is why it is imperative that the government, through the Central Bank of Nigeria, CBN, takes a second look at the policy on foreign exchange to avoid shutting down the companies in our industry.” According to him, companies mostly hit by the crisis are intellectually lazy to engage in research development on alternative sources of raw materials.

‪#‎Agriculture‬ is not the magic solution#

‪#‎Agriculture‬ is not the magic solution#

Simon Kolawole

Anytime I hear Nigerian presidents, ministers, governors, economists, analysts and commentators declare that agriculture is the alternative to oil, and that the solution to Nigeria’s economic woes is to return to the farm, I am tempted to jump up and ask at full volume: “Who agriculture alone don epp?” Some states have hilariously declared work-free days for civil servants to go to the farm. It would be nice to see those farms and how well the emergency farmers are doing. We’ve been told again and again that agriculture, as Nigeria’s biggest employer of labour, is the magic solution to unemployment, that we will export agricultural produce and earn plenty forex. Well done.

I’ve been hearing this fairy-tale all my life. When I was a primary school kid, Lt. Gen. Olusegun Obasanjo, then head of state, asked Nigerians to tighten their belts because the oil boom would not last forever. He added drama by tightening his military belt on TV. He launched Operation Feed the Nation. My grandfather responded by setting up a garden in our backyard. President Shehu Shagari did Green Revolution. The structural adjustment programme (SAP) of Gen. Ibrahim Babangida was basically about diversifying into agriculture. In different shapes, forms, sizes and packaging, we have been talking about agriculture, agriculture and agriculture forever.

Since we love glamorising our exploits in the export of cocoa, coffee, palm oil and groundnuts before the oil boom doom, I will pick on just cocoa to dispel this ill-conceived notion and never-ending campaign that agriculture is the magic wand. We used to be the biggest producers of cocoa in the world. Chief Obafemi Awolowo utilised cocoa revenue to develop the south-west when he was premier of the region in the 1950s. But we dropped the ball along the line and Cote d’Ivoire overtook us. And now we are lamenting that we are nowhere to be found. The solution, therefore, is for the south-west to revive the cocoa farms. Oh, the good old days!

World Bank’s Agriculture Funding In Nigeria Hits N75.2bn

LEADERSHIP

Fresh facts have emerged that not less than $380 million, about N75, 240 billion has been spent by the World Bank on the development of agriculture in Lagos and some other states of the country in the last eight years.

The Lagos State commissioner for agriculture, Prince Gbolahan Lawal, who made the revelation at a press conference in Lagos said the $200 million National Fadama Development Project (FADAMA) grant was accessed by six states while the remaining $180 million was accessed by five states including Lagos.

Nigeria: Monsanto's Plot to Take Over Nigeria's Agriculture

Allafrica

As everyone knows, one American company called Monsanto has been on a determined march to take over agricultural production all over the world and enslave all farmers and countries to their commercial blood sucking logic. They have finally found a bridgehead into Nigeria where a door has been opened to allow them enter and takeover. They have been allowed to initiate so-called experimental farms to produce cotton and maize. Their point of entry has been the irresponsible National Biotechnology Development Agency, which has been compromised by Monsanto to provide an entry point to take over our agriculture.

This week, I write to support the great work currently being carried out by Nnimmo Bassey and his team at the Health of Mother Earth Foundation (HOMEF) to resist the dangerous takeover of our agriculture by Monsanto. The Foundation has exposed the fact that GMOs have been approved to be grown in Nigeria and that the approval was surreptitious. There is an argument whether the approval was for a two-year trial process or for permanent production and for me, both must be opposed. At no time has the Nigerian Government taken a policy decision to approve GMOs and given the health dangers alone of this technology, it is irresponsible to allow this. We cannot allow the National Biosafety Management Agency (NBMA) to sell our future for some temporary inducement they have received from Monsanto. How was it allowed that Monsanto Agriculture Nigeria Ltd would register in the country and start production without explicit approval the Federal Executive Council and the National Assembly?

US partners Nigeria on agriculture with $2m

THE PUNCH

The United States Agency for International Development says it has earmarked $2m to support the Nigerian government’s effort to develop the agricultural sector.

It added that it would partner local agribusinesses – Babban Gona and Hello Tractor – to assist farmers in accessing smart tractors and improved seeds.

The US Embassy Deputy Chief of Mission, Mrs. Maria Brewer, according to a statement on Monday, spoke in Abuja at a gathering attended by the Minister of Agriculture, Chief Audu Ogbeh.

AGRICULTURE: A FORBIDDEN KINGDOM FOR NIGERIAN YOUTHS?

By Kunle Oguntegbe

Renowned Development Economist, Arthur Lewis once said, ‘if Agriculture remains stagnant, industries cannot grow’. For an agrarian economy with a total population of 183 Million, 70 percent of which are youth, isn’t it amazing to know that only 23 percent of the youth are involved in Agriculture? What an irony!

Prior to the discovery of oil in the 1950s, Nigeria used to be a top exporter of food and agro-allied products. However, due to the economic mismanagement, laziness on the part of the youth, relative neglect of agricultural resources as well as population upsurge amongst others, the country has lost her top position among agro-food exporting countries in the universe.