IFC, Diamond Bank increase agric finance by N5tn

NaijaAgroNet:

International Finance Corporation,(IFC) a member of the World Bank Group  has said it will provide advisory services to Diamond Bank Plc to help the lender increase access to finance in Nigeria’s agricultural sector by up to $33million (about N5 trillion )over two years.

This was made known in a statement issued by the corporation, sighted by NaijaAgroNet which explained that the projected lending would be extended to small and medium enterprises across the sector, including livestock farmers, producer groups, distributors, processors, traders and retailers.

 “It will also target almost 2,000 small holder farmers.  IFC will provide Diamond Bank with advisory services on strategy, product development and risk management, and help develop a financing model to viably lend to small and medium agribusinesses,” the statement said.

The Group Managing Director/CEO, Diamond Bank, Mr. Alex Otti said the bank has always demonstrated market leadership in the provision of innovative financial services and solutions to all segments of the society and stressing that  partnership with IFC, the bank will serve the Nigeria’s newly emerging bankable population in the agricultural sector better, and create more growth opportunities for the players as well as the economy.

IFC Financial Markets Manager in Sub-saharan Africa, Mr. Ian Weetman, said increasing growth and employment in the agricultural sector was a critical objective for IFC in Nigeria and sub-Saharan Africa; hence the corporation’s advisory services geared towards increasing access to finance throughout the agricultural and food supply chain.

NaijaAgroNet confirmed that IFC and Diamond Bank have been longstanding partners that have seen agriculture as the main activity of the majority of Nigerians,  accounting for 40 per cent of Gross Domestic Product (GDP) and 60 per cent of employment, but presently only receives 1.4 per cent of total commercial bank lending in the country. 

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Delta boosts agriculture, SMEs with N158bn

NaijaAgroNet:

Governor Emmanuel Uduaghan of Delta State has said that his administration, as part of measures under the Delta beyond oil initiative has set aside $1billion (about N158 billion) market intervention fund for the growth of the agricultural sector and Small and Medium Enterprises development in the state.

The Governor who was represented by his Deputy, Prof. Amos Utuama at Delta State Trade Fair 2013, in Osubi, near Warri made this disclosure, while explaining that advanced countries of the world grew by developing their SMEs and agricultural sector which served as a springboard for industrialisation and called for concerted efforts towards the growth of the agricultural sector and SMEs development in the state.

He said that efforts should be geared towards Nigeria harnessing and channelling production in industrial sector towards non-oil products backed by local materials and stressed that trade fairs provide the needed platform to expose locally-made goods and afford local entrepreneurs the opportunity to interface with their counterparts from other parts of the world.

NaijaAgroNet gathered  from  the governor that the theme of the fair, ‘Trade Beyond Oil,’ was apt as it is set out to address the economic revival both of the state and the country as a whole as the consciousness is beginning to dawn on all Nigerians that sole dependence on oil has been counter-productive.

He asserted that state government policy of ‘Delta Beyond Oil’ is being pursued vigorously with all machinery been put  in place to ensure that the state became an industrial and commercial haven through various investment friendly policies, programmes  and windows of opportunities designed by the private sector operators to grow businesses.

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Pix: Governor Emmanuel Uduaghan of Delta State

FG distributes 32,000 hybrid plantains/bananas to farmers

   

NaijaAgroNet

The Minister of Agriculture and Rural Development Dr Akinwumi Adesina has said that the ministry has distributed over 32,000 disease free improved varieties of Plantain/Banana suckers to about 1000 farmers in four pilot States in  the country.

Adesina who was represented by the Deputy Director, Horticulture Transformation Value Chain and the National Project Co-coordinator, Food and Agriculture Organization (FAO-UN) in the Ministry, Mr Michael Kanu dropped the hint at a six-day Train-the- Trainer Workshop for farmers in Umuahia, Abia State and said that the benefitting states include Abia, Delta, Oyo and Cross River.

NaijaAgroNet learnt from the Minister that the workshop was organised by the Federal Ministry of Agriculture and Rural Development  in collaboration with the FAO-UN under the Technical Cooperation Project, aimed at positioning horticulture in the nation as a channel of growth for economic diversity, poverty reduction, wealth and job creation.

Director of Information in the Ministry, Greyne Anosike, expressed Nigeria’s profound gratitude to FAO-UN Country Representative in Nigeria, Dr. Louise Sethswealo for supporting the campaign for global food security especially, in Nigeria and solicited for more support from FAO.

The Desk Officer, Technical Cooperation Project, FAO-UN, Adeola Akinrinlola who spoke on behalf of the FAO-UN Country Representative, explained that the workshop was organised to acquaint farmers in Umuahia, Abia State with the latest plantain/banana production techniques and post harvest technologies in order to make farming business a profitable venture.

He explained that in line with UN Agricultural support mandate to developing countries to improve in the technical skills of farmers, overcome production constraints and to establish pilot field planting nurseries/suckers as a source of tissue culture planting materials beyond the project life time, FAO-UN provided a funding grant of $477,000 Dollars (N77million] to the Ministry to compliment the shortfall in her budgetary provision of $1.4m (about N 222 million) towards funding this project.

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pix:Minister of Agriculture and Rural Development Dr Akinwumi Adesina

Over 2 million Zimbabwe under threat of hunger next year-UN

NaijaAgroNet:

United Nations agency has warned that food security in the southern African country has continued to deteriorate making over two million people in Zimbabwe vulnerable for food assistance by early next year.

World Food Programme (WFP) spokesperson Elisabeth Byrs made this statement while briefing  reporters in Geneva, and insisted that the food security situation is at its worst since 2009, with the national maize harvest being less than last year’s 1 million metric tons, and less than the country’s requirement of 2.1 million metric tons.

The Government of Zimbabwe, NaijaAgroNet was informed has requested international support for food assistance to meet the growing needs to which WFP is launching a relief programme in the worst-affected areas and gradually scale up assistance over coming months.

“WFP and partners will begin food distributions and will expand its operations until the end of March when the next harvest comes. Three distributions will start in three districts of Midlands and Matabeleland North provinces, and will be scaled up to 19 districts in November, 38 in December, and 41 districts from January to March,” Byrs said.

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54m kids under 5-yrs in Africa go hungry-AUC

NaijaAgroNet:

The African Union Commission (AUC) has said that over 54 million kids in Africa under the age of five years go hungry and urged leaders in Africa  to work together to tackle malnutrition and under-development on the continent, NaijaAgroNet reports.

The AUC made this disclosure as the African leaders, agriculture and nutrition experts from the private and public sector marked this year’s Africa Food and Nutrition Security Day in Niamey, Niger, to tackle malnutrition and under-development on the continent.

The AUC Commissioner for Rural Economy and Agriculture, H.E Tumusiime Rhoda Peace, said “The African Union Commission accords special importance to this year’s day as a prelude to 2014 the AU declared Year of Agriculture and Food and Nutrition Security and also marking the 10th anniversary of the comprehensive Africa agriculture development programme. 

Peace said that the day remains an opportunity for all AU member states, governments and partners to heighten awareness and reinforce commitment to accelerating the collective efforts towards a food and nutrition secure Africa, while the Africa Agenda 2063 will be considered for adoption by AU heads of state and government at their summit to be held in January next year.

The Chief Executive Officer of the New Partnership for Africa’s Development Agency, Dr Ibrahim Mayaki, said “Proven solutions for food and nutrition security challenges already exist and needed to be replicated. The era of pilot projects is long gone and it is now time to take action.  The private sector is a valuable partner in the fight against malnutrition whereas civil society remains our most important voice of conscience”.

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‘Sugarcane production, target of 1.7 m tonnes achievable’

NaijaAgroNet:

The Head of the Sugar Research Institute, University of Ilorin, Prof Gbadebo Olaoye has said that  with the ongoing efforts  to improve domestic sugarcane production of 65,000 tonnes with new high yields varieties, the targeted  production of  1.7 million tonnes by 2018 will be achieved.

Olaoye made this disclosure to pressmen, while explaining that the United Nation’s Common Fund for Commodities had given $1.6 million (about N246 million) for a research in Ivory Coast and Nigeria to test various species of sugarcane in order  to boost production.

The Sugar Research Institute, Olaoye informed NaijaAgroNet  was reviewing the characteristics of potential sugarcane varieties, with the aim of increasing output and profitability for the industry that has recorded consumption of an estimated 1.45 million tonnes of sugar by Nigerians.

In the United States-based Global Agriculture Information Network (GAIN) report entitled ‘Nigeria: Annual Sugar Report 2013,’ GAIN  stated that Nigeria’s objectives required a 22-fold increase in domestic cane sugar production, long-term massive area expansion and enormous funding in sugar cane production research, as well as long-term investment in public infrastructure and human and material resources.

The Executive Secretary of the National Sugar Development Council, Dr. Latif Busari said the nation’s sugar production level would hit about 1.79 million tonnes by 2020, higher than the 1.5 million tonnes consumed annually, produce about 161 million litres of ethanol and also generate over 117,000 jobs for the economy.

International Sugar Organisation currently puts Nigeria’s total sugar production at 30,000 tonnes, however, Busari said the implementation of the Nigeria Sugar Master Plan would require massive private sector investments of more than $3.1 billion, (about N496 billion) over the next 10 years, which will involve the 28 sugar projects sited across 17 states.

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Okomu Palm Oil rewards 70 employees for long service

NaijaAgroNet:

Okomu Oil Palm Company Limited based in Edo State has honoured over 70  employees with long service award for loyalty, honesty and dedication of service.

Speaking at the occasion, the Managing Director of Okomu Oil Palm Company Limited, Graham Hefer who is also a recipient of the award of excellent and exemplary transformational leadership from Agricultural/Allied Employee Union of Nigeria, Okomu Brance commended the awardees and urged them to remain focus and dedicated to the service of the company.

 “I thank you for your commitment, courage and dedication to the company for all these years; you are the foundation of the company. I encourage you to stay more and urge others to stay long as well, when this happens, the company becomes stable, this equally lead to growth of both human and material resources of the company” Hefer said.

The Human Resource Manager, Fedelis Olise called on all staff of the organization who wants to benefit from the organization to embrace discipline and resist temptation.
“Discipline is what is needed in life to make success. This act by members of staff has moved the company forward to greater height. If we must leave a mark on the sand of time, we must be discipline in all we do,” Olise said.

One of the recipients of the award, Uche Kika informed NaijaAgroNet that he has served the organization for 20 years, stressing that there have been great transformation in terms of human and material resources and the working environment has been made conducive for all staff to give its best for effective service delivery.

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EU, FAO call for funds to combat cassava diseases in Africa

NaijaAgroNet:

The European Union (EU) and the United Nations’ Food and Agricultural Organisation (FAO) have called for increased investments to prevent further crop damage and the rapidly spreading strains of cassava disease.

This position was made in a statement by the two bodies as the outcome of the meeting of 70 regional cassava professionals in Nairobi, Kenya where it was decided that a minimum of $100 million ( about  N15.9 billion) is needed to continue the efforts of the EU funded, FAO coordinated Regional Cassava Initiative.

 NaijaAgroNet gathered from the statement that over a four-year period, the initiative has improved food security and repaired damaged yields in the areas affected by cassava disease and noted that the project is set to end without further investment.

Seven countries including Burundi, Central African Republic, Democratic Republic of Congo, Gabon, Rwanda, Tanzania and Uganda worked with the initiative to offer cassava farmers disease resistant plants and clean materials.

Although these efforts curbed the effects of Cassava Mosaic Disease (CMD), Cassava Brown Streak Disease (CBSD) continues to spread, threatening the food security of the 135 million people in the region, while NaijaAgroNet learnt that without continued funding of the Initiative, CBSD is likely to spread into Nigeria, the biggest cassava-producing nation in Africa.

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FISON President condemns lawlessness in Nigerian fishing industry

NaijaAgroNet:

The National President of the Fisheries Society of Nigeria (FISON), Dr. Abbah Y. Abdullah has said that the absence of laws to regulate the activities of operators in the Nigerian fishing industry has brought lawlessness which has greatly impeded the sustainable exploitation and utilization of the nation’s fisheries resources over the years.

Abdullahi made this statement at the National Validation Workshop for the review and update of the Inland Fisheries Act 1992 held in Abuja, under the aegis of the European Union (EU) by the Federal Department of Fisheries in the Federal Ministry of Agriculture and Rural Development, and  described the existing Fisheries Act as ‘inadequate and outdated.’

He stated that in line with international best practice, Nigeria requires a holistic fisheries act that will ensure proper conservation, management and development of the sea fisheries, inland fisheries, aquaculture and other related matters.

“Operators in the fisheries sector do whatever they like, so we need an Act that will curtail their excesses, focus on technological, socio-economic and political development and other issues in the sector in line with international best practice and international instruments signed by Nigeria,” he said.

Dr. Abdullah informed NaijaAgroNet that the European Union which sponsored the current review has observed the lawlessness in the Nigerian fishing industry and is addressing it accordingly, because no investor is ready to put money in an unregulated industry.

*With additional report from the Nation

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Lack of advocacy, bane of research to investors – NAFN president

NaijaAgroNet:

Inadequate advocacy and sensitisation on the part of government  and lack of interest on the part of the private sector in commercialising local research findings has been attributed as the reason why private sector don’t appreciate the inherent benefits of such findings.

The National President, All Farmers Association of Nigeria (AFAN) and Chairman, Board of Trustees, National Agricultural Foundation of Nigeria (NAFN), Senator Abdullahi Adamu told  NaijaAgroNet while explaining that government has not been able to address the issues to a point that the private investor can appreciate such research because the advantages that will accrue to him or her over any subject matter of research are not known.

Adamu cited the case of United Kingdom under late Mrs Margaret Thatcher and United States of America under Ronald Reagan tenure and posited that before they went into full privatisation of railway system, the ordinary Briton or American knew what was railway and that it was functioning.

“They knew the advantages of travelling by rail as compared with travelling by road in a car or lorry; they knew the difference between travelling by train and travelling on the high seas overseas or by ship; they knew the implications. The private sector, if you want them to be involved in these things, there must be good advocacy on the side of the government,” Adamu said.

NaijaAgroNet recalls from Adamu that there was need for government to publicise such research, its advantages and develop the literature that will sell what have been researched upon as that is the only weapon that can make such research attractive to a prospective investor or the private sector.

He canvassed that government should create the enabling environment that would stimulate investment in research by the private sector.

*With additional reports from NAN

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pix:National President, All Farmers Association of Nigeria, Senator Abdullahi Adamu