Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Wednesday, August 7, 2019

Nigeria, US To Mobilise $300m For Agribusiness

Nigeria, US To Mobilise $300m For Agribusiness

Nigeria, US to mobilise $300m for agribusiness
Represented by Andrew Kwasari, Senior Policy Adviser in the Office of the Vice President, Osinbajo noted that “the synergy between the US, the Federal Government and the states is a way for the future.”

The USAID Contractor of the FTF Nigeria Agribusiness Investment Activity, Adam Saffer, explained that Nigeria had tremendous opportunity to take advantage of the arable land in the country, abundant water, human resources, fertile soil and many other things that should make Nigeria not only self-sufficient but also the food basket of the region.

He said, “FTF Activity in order to help Nigeria reach the target is working with financial institutions, investors, agro data, processors and other businesses and producers to create a more enabling environment to attract those finances and investors.”

“With a more efficient agribusiness sector, food generation, better income and more inclusiveness of women and youth, we can end up with a better quality food at a lower price.  Our activity is trying to activate $300m from the investors, from the banks and from the finance institutions to make this happen.”

US Ambassador to Nigeria, Stuart Symington, said the US government would work with  Nigeria to improve the ease of doing business in the agriculture sector, mitigate the risks to lending institutions and promote investment opportunities for agribusiness to expand and scale up their operations.

Kebbi State Governor, Atiku Bagudu, told reporters that Kebbi was doing a number of things to key into the programme to unlock the agricultural potential of the state.

“In the last five years, we have recorded significant improvement in yields in many commodities particularly rice where we have seen yields increasing from as little as one tonne per hectare to an average of five to six tonnes per hectare. We have similar increases in other crops like soya beans and millet,” he said.


Also speaking, Cross River State Governor, Ben Ayade, called on the US to assist Nigeria with the requisite technology to tackle some of the challenges associated with food production and preservation in the country.

The $15.7m Agribusiness Investment Programme aimed to facilitate the growth of existing private sector agribusinesses and work with producer organisations in the rice, maize, soybean, aquaculture, and cowpea value chains to increase Nigeria’s food security status and foster job creation opportunities.

Kaduna, Niger, Kebbi, Benue, Delta, Ebonyi and Cross River States are targeted under the initiative.
(Punch)

Thursday, July 25, 2019

National Security: FG Should Procure Additional Satellite – NISE

National Security: FG Should Procure Additional Satellite – NISE

The Nigerian Institute of Space Engineers (NISE) has called on the Federal Government to provide more earth observation satellites to aid national security and socio-economic development.
National Security: FG Should Procure Additional Satellite – NISE

Dr Sadiq Umar, the National Chairman of NISE made the call on Thursday in Abuja at the institute’s Third Annual Lecture held in honour of Brig.-Gen. Michael Agu (Rtd), the pioneer chairman of NISE.

FreshReporters News understood that the lecture focuses on “Remote Sensing Technology and National Security’’.

Umar said the President Muhammadu Buhari led administration is making progress securing lives and properties, but more could be achieved if the country leverage on satellite technology.

He said the available earth observation satellites were not sufficient in providing data for national security and economic development.

“For Nigeria to be where it needs to be, we need to have more satellites providing data that will help government address our security problems.

“Nigeria Sat 1 was designed and built in Surrey, South-East England in 2003 and the lifespan of a satellite is eight years maximum, therefore, we should be thinking of having its replacement.

“Till date, we don’t have a replacement for Sat 1, meaning that the satellite cannot provide data.

“The country should recognise the importance of space application, space technology which is important in boosting the economy in the areas of security, productivity, food security, among other issues.

“Currently, we only have Nigeria Sat 2 and Nigeria Sat X that can give data,” Umar said.

He said other satellites owned by the country were for communication and provision of bandwidth data, but not remote sensing data.

The NISE chairman said the institute and the Nigerian Society of Engineers (NSE) are working with the Federal Government to replace the almost outlived satellites before their expiration.

Mr Adekunle Mokuolu, President NSE recalled that President Muhammadu Buhari in his second term inaugural speech had said that “with good leadership Nigerians could be lifted from poverty’’.

Mokuolu urged the government to leverage on space satellite technology to achieve the goal adding that the country has the human capacity and expertise to develop the industry.

Prof. Joseph Akinyede, the Director Space Application Centre, Ile-Ife, who delivered a lecture at the event said Nigeria is facing security threat which could be addressed with advance technology. .

The director said that remote sensing has the capacity to address security threats, food insecurity, flood disaster, pipeline vandalism, others, if properly harnessed.

“The military also need remote sensing using satellite technology to fight the modern warfare and defend our porous territories.

“We can use satellite technology to map the pattern of groups, individuals that are threats to the nation and address them accordingly,’’ he said.

Dr Halilu Shaba,the Acting Director-General of the National Space Research and Development Agency (NASRDA) said the agency would work with relevant stakeholders to ensure national security.

Saturday, July 20, 2019

Cassava: Association Urges States To Prioritise Processing Plants

Cassava: Association Urges States To Prioritise Processing Plants

The Nigerian Cassava Growers Association (NCGA) has urged State governments to prioritise cassava production by providing processing plant and machines to boost national economy.

Mr Segun Adewumi, the National President of the association, made the appeal in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.

He said the availability of either the processing plant or machines would assist farmers to process cassava to its final production stage and ultimately help the country realise its inherent enormous potential.

Adewumi, who specifically noted that the nation had more than enough cassava farmlands, however, decried the absence of state of the art machines to process and derive other finished products from the commodity.

He said that such government’s assistance would eliminate post- harvest losses currently bedeviling farmers in the country.

According to him, cassava generates more income than oil if its potential are fully harnessed; the challenge is lack of government’s attention with regard to providing farmers with processing machines for improved and well packaged finished products.

He said some of the by-products or final products of cassava outside gari are starch, tapioca, ethanol, flour for different purposes among others.

NCGA’s president further identified cassava as the greatest industrial materials that provided companies with five major utility industrial products.

One of them is ethanol and ethanol can trigger industrial revolution because you can get more than 100 products from it,” he said.

Adewumi said that some of cassava products could be used by pharmaceutical companies and multi-national companies.

Nigeria is the highest producer of cassava; so we should be able to promote it to realise its full potential.

“So, if the government can create an enabling environment that will allow people to bring in and install machines that will mill our cassava into this products, our association will be able to contribute maximally to the economy.

“Government should pay attention to processing plant by collaborating with non-government organisations, financial institutions among others to ease and lessen the burden of farmers’ post-harvest losses,” he said.

Thursday, July 11, 2019

Textile Industries Have Potential To Create 2m Jobs – Emefiele

Textile Industries Have Potential To Create 2m Jobs – Emefiele

Textile industries have potential to create 2m jobs – Emefiele
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the Nigerian Cotton, Textile and Garment (CTG) sector holds huge potentials to create more than two million jobs and reduce 4.0 billion dollars import bill incurred annually on textile.

Emefiele said this at the meeting with the Service Chiefs and stakeholders from CTG industries on the present administration’s drive to revive the sector, in Abuja on Thursday.

He explained that the sector also had the capacity to transform Nigeria’s rural economy and revive the textile and garment industries by improving internal revenue across three tiers of government.

He said by achieving that, it would safeguard and earn foreign exchange and ultimately accelerate industrial development by making Nigeria a global player in the textile and apparel sectors.

“This event, therefore, symbolises our commitment to attain self-sufficiency in cotton production, to serve the Textile and Garment segments of the value chain with quality input,  as we target zero importation by the year 2020.

“I am pleased to inform you that I have been holding meetings with the Cotton, Textile and Garment (CTG) sector stakeholders toward reviving Nigeria’s textile sector.

“We analysed the huge potentials that exist in the sector, identified the challenges militating against the sector’s contribution to Nigeria’s growth and development and presented quick wins for reviving the sector.

“The CTG sector is however faced with some systemic challenges which has hampered and diminished its role as the leading employer of labour, thereby preventing its contribution to Nigeria’s GDP.

“In the 1970’s and early 1980’s, Nigeria was home to Africa’s largest textile industry, with over 180 textile mills in operation, which employed close to over 450,000 people and contributing over 25 per cent of the workforce in the manufacturing sector.

“Today, most of the factories have all stopped operations, as only 25 textile factories are operating today at below 20 per cent of their production capacities, and the workforce in Nigeria’s textile industry stands at less than 20,000 people,” he said.

The Central Bank Governor disclosed that their interaction with stakeholders revealed that MDAs had not made any significant order for uniforms or clothing materials from Nigerian textile manufacturers and garment companies.

He added that governments’ efforts at resuscitating the textile industry would not be actualised if they were not supported through local patronage among other incentives.

“As a first step, we flagged-off the 2019 Wet Season Cotton Input Distribution to 150,000 farmers in Katsina, Katsina State on May 6th, 2019 under the Anchor Borrowers’ Programme.

“These are cultivating over 180,000 hectares of cotton that will feed our ginneries and be used in the production of high quality textile for use by the armed forces and other uniformed service organisations.

“Production is also ongoing across 23 states of Nigeria with more to come onboard in the next planting season. We have also put in place necessary mechanisms to ensure use of high yielding varieties that will produce top quality fabrics and those that can compete in the international market” he added.

He said the bank observed that the local textile factories were carrying huge quantities of unsold stock while garment factories were idle due to lack of local patronage.

Emefiele expressed optimism that with the support and cooperation of the uniform organisations, this trend could be reversed.

(NAN)

Friday, July 5, 2019

SPARK Initiative: Firstbank To Empower 500 Widows

SPARK Initiative: Firstbank To Empower 500 Widows

First Bank of Nigeria Limited says it will scale up its empowerment of widows to 500 before the end of the year


SPARK Initiative: Firstbank To Empower 500 Widows
The bank, which provided funding to the widows to grow their micro-medium scale businesses, has empowered 125 widows as identified by the International Women Society (IWS).

Mrs Bashirat Odunewu, the Group Executive, International Banking Group (ITBG), said this at the 125 widows’ endowment empowerment programme in commemoration of FirstBank 125th Anniversary in Lagos,

She said the bank’s partnership with IWS was designed to further the empowerment of women, especially widows, as part of activities marking 2019 Corporate Responsibility and Sustainability Week (CR&S).

She stated that the CR&S week with the theme: ‘Ripples of Kindness; You First’ reflects the brand promise to always put its stakeholders first and is designed to offer employees and other stakeholder, opportunities to give their time and resources to defined causes.

Odunewu, who was represented at the event by the bank’s Business Development Manager (ITBG), Mr Kunle Olorunfemi, explained that as part of the bank’s employee giving and volunteering programme, the week focuses on wide range of activities under the SPARK (Start Performing Acts of Random Kindness) initiative.

According to her, it includes partnership with IWS for the empowerment of widows, as well as visit and donations to orphanage/less privileged homes, Internally Displaced Persons (IDPs) and deepening the values of SPARK amongst school children.

“A world without active collaboration amongst people, organisations, nations and regions is inconceivable.

“We are here because of our collective desire to pursue synergies that would generate progress for us and future generations. That is the focal piece of sustainability. I am, therefore, optimistic that this partnership will help drive sustainable development.

“At First Bank the partnership amongst people and stakeholders have sustained us for over 125 years. As you might be aware our impact traverses virtually every sector of the economy. This indeed resonates our 125 anniversary theme – ‘Woven into the Fabric of Society’

“Such partnerships have also provided the opportunity for us to help create an enabling platform for Small and Medium Enterprises to thrive and develop the national economy.

“The partnership with International Women Society is designed to advance social and economic impact by providing capital and capacity building for women running small businesses including widows.

“We believe that a committed, well-funded and well implemented partnership with International Women Society will enhance our goals as a responsible corporate citizen, which include focusing on empowering women and nation building.

“The partnership with IWS is also in line with the bank’s financial inclusion and women’s economic empowerment policy which promotes accessible and affordable financial products and services to disadvantaged groups with the goal of bringing these marginalised populations into the mainstream economy, improving their chances for resilient livelihoods and financial stability.

“In partnering with International Women Society, by providing opportunities for widows in areas of capacity building and access to start-up capital, the Bank advances social and economic impact,” he said.
(NAN)