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

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
News
Police inspector dies in road crash in Niger

Police inspector dies in road crash in Niger
By: Zagazola Makama
A police inspector has died in a fatal motor accident involving a truck and a motorcycle along the Jebba–Mokwa road in Niger.
Sources told Zagazola Makama that the accident occurred on Aug. 27 at about 5:30 p.m. near Ndafu village when a truck loaded with wheat flour from Lagos to Sokoto attempted to overtake a motorcyclist.
The truck, according to sources , hit the motorcycle rider, Insp. Yahaya Ahmed, attached to Mopol 12 Minna, who was on beat duty at Kiara Rice Mills, Kpasuwa.
The victim sustained serious head injuries and was rushed to the University Teaching Hospital, Ilorin, where he later died while receiving treatment.
The sources said that the corpse had been deposited at the hospital’s mortuary for autopsy, while investigation into the accident was ongoing.
Police inspector dies in road crash in Niger
News
Police corporal arrested for shooting three persons in Suleja

Police corporal arrested for shooting three persons in Suleja
By: Zagazola Makama
The police in Niger have arrested a police corporal for allegedly shooting three persons during a quarrel in Gauraka, Tafa Local Government Area.
Sources said that the incident happened on Aug. 28 when the Cpl. attached to the K9 Unit, Force Headquarters Abuja, but posted on guard duty at SPC Iron Company, Suleja, went to eat at Javino Road in Gauraka.
In the process, Eugene had a quarrel with three individuals Alasen, 12, Goodluck, 18, and Idris, 36 during which he allegedly shot them in the legs with his rifle.
The sources said the officer was immediately disarmed and taken into custody, while the victims were rushed to Upland Hospital, Gauraka, for treatment.
Police corporal arrested for shooting three persons in Suleja
News
FCT police recover cows bought with kidnapping proceeds notorious wanted bandit and kidnapping suspect, Masud Abdullah

FCT police recover cows bought with kidnapping proceeds notorious wanted bandit and kidnapping suspect, Masud Abdullah
By: Zagazola Makama
The Federal Capital Territory (FCT) Police Command has recovered three cows allegedly bought with proceeds of kidnapping activities within the territory.
Sources told Zagazola Makama that the recovery followed further investigation into the arrest of a notorious wanted bandit and kidnapping suspect, Masud Abdullah.
According to the sources , Abdullah, earlier arrested between Aug. 21 and Aug. 25, led police operatives to Karu Forest where the livestock were found.
The sources said the operation was carried out in compliance with the Force Money Laundering and Terrorism Financing Policy, and in line with standards of the Nigerian Financial Intelligence Unit (NFIU).
The sources added that efforts were ongoing to track down other fleeing members of the syndicate.
FCT police recover cows bought with kidnapping proceeds notorious wanted bandit and kidnapping suspect, Masud Abdullah.
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