Connect with us

News

UNIFEMGA identifies problems confronting Nigeria’s agricultural sector, proffers solutions

Published

on

UNIFEMGA identifies problems confronting Nigeria’s agricultural sector, proffers solutions

By: Michael Mike

For Nigeria to get on the right trajectory to agricultural development and food sustainability, she needs to overcome the challenges of limited finance, high cost of power generation, limited storage facilities, inadequate market information, among others.

These challenges were identified by Obafemi Awolowo University Muslim Graduates Association (UNIFEMGA) at a one-day third agricultural conference organised by the Ogun state Chapter of the association in Abeokuta.

it was resolved that to get it right as a country, all the factors listed must be adhered to.

At the Conference, whose theme is: Agricultural Entrepreneurship and Development: Access to finance and funding opportunities”, it was resolved that to get it right as a country, all the factors listed must be adhered to.

UNIFEMGA noted with concern that corruption has been the main factor affecting the Nigerian economy and until it is vigorously tackled, the country will not make any progress, while adding that interventions and aids which could have helped the sector only come as crash programme and never consistent.

According to the foremost Muslim Alumni, natural occurrences such as flood which could lead to famine must also be taken into consideration for Nigeria to move forward in the agricultural sector.

In the communique issued at the meeting, also identified national insecurity and mistrust, banditry, kidnapping for ransom, the Boko Haram insurgence were recognized as some of the factors responsible for the reluctance of financial institutions to provide credit for agriculture venture as it poses a great financial risk and therefore attracts high interest rate that is mostly unaffordable to agriculture entrepreneurs.

The communique read: “Corruption is the bane of our economy and until we drive it out from all the sectors of the economy, we are going nowhere as a nation. The challenges confronting Nigeria as a nation among others are lack of modernisation/mechanisation, market volatility, limited finance, tax and duties laced with inconsistencies by government, high cost of power generation.

“Project interventions and aids come as crash programme and is not consistent. Natural phenomena are very difficult to cope with and manage because of the negativities such as flood which wash away farm settlements and which may result in famine. So also is national insecurity and mistrust, banditry, kidnapping, Boko Haram insurgence, etc.

“The presence of these challenges are responsible for the reluctance of financial institutions to provide credit for agriculture venture as it poses a great financial risk and therefore attracts high interest rate that is mostly unaffordable to agriculture entrepreneurs. With less than 5% of banks’ credit granted to the sector, finance from traditional banks remains a major challenge to agriculture development in Nigeria.

“In order to bridge the gap within the agriculture credit market, financial institutions like Lotus Bank has a critical role to play by developing areas around the value chain through product financing, financing of farm inputs, financial advisory and financial literacy. Financial institutions must understand that whatever financing option to adopt must be mutually beneficial,” the Communique added.

The conference advised entrepreneurs to take advantage of Lotus Bank, where there are financing for the purchase of inputs for crop production such as seedlings/seeds, fertilisers, insecticides, manual sprayers, for the acquisition of farm machinery, of working capital needs through forward purchase of agriculture produce, for infrastructure development such as farm house and warehouse as well as equity partnership on agriculture venture.

While calling on those who want to embrace agriculture as business to have sound knowledge of the sector through mentorship and research, he urged government and policy makers to show sincerity of purpose in addressing the multiple challenges facing the Nigerian economy so that people are encouraged to put in their best.

“Government policy must not be anti- people and innovation as we have in most situation in Nigeria where upcoming local business are brutally killed by multiple unexplained heavy financial demands from government agencies.”

Participants at the conference include the former minister of Agriculture, Alhaji Najeemdeen Adewale, UNIFEMGA BOT Chairman, Alhaji Rafiu Ebiti, Prof. Sabur Adesanya, former Olabisi Onabanjo University Vice Chancellor and chairman of the occasion as well as National President of UNIFEMGA, Alhaji Abdulfattah Olanlege.

Others were the duo of the guest speakers ,Alhaja Kafilat Araoye , MD/CEO of Lotus Bank, Prof. Jimoh Farinde from OAU Ile-Ife, Mr Tairu Olarenwaju, the chairman of UNIFEMGA Ogun state,representatives of various chapters of UNIFEMGA, other stakeholders in agricultural business, among several others.

UNIFEMGA identifies problems confronting Nigeria’s agricultural sector, proffers solutions

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Gombe Govt restates commitment to MSMEs growth

Published

on

Gombe Govt restates commitment to MSMEs growth

The Gombe State Government, on Friday engaged stakeholders in the finance sector towards easing access to credit and ensuring the growth of Micro, Small and Medium Enterprises (MSMEs) in the state.

Malam Muhammad Magaji, the state’s Commissioner of Finance and Economic Development stated this in Gombe while declaring open the State Action on Business Enabling Reforms (SABER) Programme, themed: “Guide to Access Credit”.

Magaji said that the meeting was aimed at creating an environment conducive for business growth by removing the bottlenecks around accessing finance.

He said that the administration of Gov. Inuwa Yahaya of Gombe State has prioritised the development of businesses and industries to drive economic prosperity for the state, create jobs and improve the wellbeing of residents.

Magaji who was represented by Mr Jalo Ibrahim, the Permanent Secretary, Ministry of Finance and Economic Development said that the state is now more deliberate in supporting small business owners to grow.

According to him, Yahaya-led administration’s commitment to MSMEs growth is to ensure inclusive growth of the economy in view of the role of such small businesses to economic transformation.

“We are engaging the financial institutions and relevant stakeholders to see how we can remove the barriers affecting access to credit to SMEs in the state.

“This is part of the current administration’s commitment to strengthening access to loan facilities that would give life to small businesses and help more youths start up businesses.

“We are very committed as a government to see to it that we provide all the needed supports to make doing business in Gombe State easy.

“Government will inject more money into the system to serve as collateral for business owners and also serve as guarantor to those who are willing to access finance,” he said.

On his part, Alhaji Nasiru Aliyu the Commissioner for Trade, Industry, and Tourism,
Gombe State restated the state government’s commitment to industrialising the state and attracting investors.

Aliyu said that Yahaya’s administration had invested a lot to boost industrial growth and turn the state into the industrial and evonomic hub of North East.

Mr Kabiru Tsoho, the SABER focal person for Gombe State said that the SABER Programme is a World-Bank project aimed at easing businesses towards accelerating the growth of the economic sector.

Tsoho said the engagement would help remove impediments to accessing finance and encouraging business growth.

“This will help improve business environment and encourage investment which would provide more opportunities for jobs to be created and for economic empowerment of women and youths,” he said.

Mr Sanusi Abdullahi, Chairman, Traders Association of Nigeria, Gombe State chapter commended the initiative by the state government and World Bank to make doing business easy.

Abdullahi said with improved access to loans, there would be more youth employment and improvement in the standard of living of residents of the state.

Gombe Govt restates commitment to MSMEs growth

Continue Reading

News

Troops arrest gunrunner, recover arms, ammunition in Plateau

Published

on

Troops arrest gunrunner, recover arms, ammunition in Plateau

By: Zagazola Makama

Troops of 3 Division of the Nigerian Army under Operation Joint Task Force, Operation Enduring Peace (OP Enduring Peace), have arrested a suspected gunrunner and recovered arms and ammunition in Bokkos and Mangu Local Government Areas of Plateau State.

The operations, conducted on Thursday, were part of ongoing efforts to mop up illicit arms and ensure a peaceful yuletide season within the Joint Operations Area, military sources said.

In the early hours of the day, troops, in conjunction with operatives of the Department of State Services (DSS), raided a suspected criminal hideout at Gwender Village in Bokkos Local Government Area, following intelligence reports.

Although the suspects reportedly fled before the arrival of the troops, a search of the hideout led to the recovery of one fabricated AK-47 rifle with a magazine, one fabricated pistol and several rounds of ammunition of different calibres.

In a related operation, troops working with a DSS Tactical Team mounted a snap checkpoint at Mairana in Mangu Local Government Area, based on credible intelligence.

During the operation, a Fulani youth was intercepted and arrested while in possession of two boxes of ammunition containing 1,400 rounds of 7.62mm special ammunition.

The suspect and the recovered items are currently in custody for further investigation, while troops have intensified follow-up operations to apprehend other members of the suspected criminal syndicate.

The military reiterated its commitment to sustaining pressure on criminal elements to ensure peace and security across Plateau State and the wider Joint Operations Area.

Troops arrest gunrunner, recover arms, ammunition in Plateau

Continue Reading

News

Zulum disburses N1bn, trains 1,050 youths on GSM repairs

Published

on

Zulum disburses N1bn, trains 1,050 youths on GSM repairs

By: Our Reporter

Borno State Governor, Prof. Babagana Umara Zulum, has launched an empowerment package worth N1,000,000,000 targeting thousands of young residents, mostly GSM repairers and technicians.

The initiative targets 1,050 youths who will be trained on phone repairs and maintenance;  about 3,000 other apprentices will receive cash.

Each of them will receive a complete set of modern working tools, including an 852D hot air rework station, a separating machine Kc2025, a battery booster S2025 pro, an adjustable temperature soldering iron V900c, a digital multimeter DT9205Plus and a precision screw driver set 60 in 1, to enhance their own repair businesses.

In addition to the tools, all 1,050 GSM repair trainees will receive direct cash support to serve as seed capital for their ventures.

The disbursement comprises four categories: the first group, consisting of 26 beneficiaries each receiving N1 million; the second group, 189 beneficiaries each receiving N300,000; the third group, 835 beneficiaries each receiving N100,000; and the fourth category, 3,500 apprentices, each receiving N100,000 and different calibres of working tools. The training cost is N482 million.

Speaking during the launching ceremony, Zulum said: “It gives me immense pleasure and a deep sense of fulfilment to stand before you today on this historic occasion—the official launch of the disbursement of N1 billion empowerment scheme alongside the training of operators at the GSM Market here in Maiduguri.”

The governor also recalled several initiatives by his administration on investment in human capital development.

He said, “Only recently, this administration took a bold and visionary step by sponsoring two hundred youths to study aircraft piloting and aeronautic engineering at Isaac Balami University. 

“This initiative is designed to place Borno State on the global aviation map and demonstrate that, despite our challenges, we are preparing our youths for world-class opportunities. The process is almost completed.

“So far so good, about 400 Borno state indigenes are pursuing PhDs and master’s degrees abroad. In addition, 100 of our youths are currently studying Medicine and related courses in China.”

The occasion was attended by the senator representing Borno Central, Barrister Kaka Shehu Lawan; members of the House of Representatives; the deputy speaker of the Borno State House of Assembly, Engr Abdullahi Askira; commissioners and senior government officials.

Zulum disburses N1bn, trains 1,050 youths on GSM repairs

Continue Reading

Trending

Verified by MonsterInsights