Health: Oloibiri attracts PPP for Nigeria - NaijaAgroNet

NaijaAgroNet:

The first phase of the Oloibiri Health Programme (OHP) was recently inaugurated and comprises of the remodelled General Hospital, Kolo; Water Treatment Plant; Hybrid Solar Powered System; Medical Laboratory Equipment at the College of Health Technology, Otuogidi and the Dental Chair at the Demonstration Clinic, Otuogidi (one of the 14 OHP network of facilities). Over 17,000 people and 20 Communities have benefited from the programme over the last three years, in addition to training of 117 facility and community health workers and business mentorship to 100 entrepreneurs. In 2015, GE Healthcare and Shell Companies in Nigeria (Shell) signed an MOU to establish the comprehensive healthcare project in Ogbia Local Government Area (LGA), Bayelsa State. “The OHP is an expansive initiative being implemented in three phases. As part of the first Phase, the General Hospital Kolo will serve as a referral hub providing 24 hours service with linkages to five Health-for-Life Centres and 13 Ward Health Centres. The second phase projects consists of Oloibiri Health-for-Life Centre, a Ward Health Centre, and a Knowledge Management and Research Centre to be completed by the end of October 2019.The third phase will be the establishment of the pilot Ogbia Community Health Insurance Scheme that will anchor the sustainability of the OHP and will deliver healthcare services using a network of facilities. This is expected to start in December 2019.” Said Mr. Osagie Okunbor, Managing Director, the Shell Petroleum Development Company of Nigeria Limited (SPDC) and Country Chair, Shell Companies in Nigeria. The OHP is a transformational health intervention programme championed by Shell as part of its Social Investment Programme, and in commemoration of the centenary celebrations of Nigeria delivered by GE Healthcare from February 2015 to August 2019. Other key programme partners include Bayelsa State Government/ Ministry of Health, Ogbia Local Government Area, Federal University Otuoke, and World Bank/International Finance Corporation. “Strengthening healthcare systems at the primary and secondary levels is key in accelerating Nigeria’s vision for Universal Health Coverage,” said Eyong Ebai, General Manager, GE Healthcare West, Central & French Sub-Sahara Africa. “The OHP is an excellent example of the impact collaborations in the healthcare sector can attain, in driving sustainable healthcare solutions and access to quality and affordable healthcare for all across the country.” Mr. Ebai added that with over 40 years of operation in Nigeria, GE Healthcare was focused on partnering with public and private health providers to support the country’s sustainable healthcare development. The OHP through targeted efforts seeks to strengthen the existing health system, promote world class service delivery and uptake, establish a learning and operations research institute, and enhance social determinants of health within communities. The programme has taken a more holistic and unique approach by addressing challenges across the entire health system in a given population, with a wider scope including infrastructure upgrade, capacity building and training, availability of drugs, health insurance, strengthening data and overall health information management. It also has an explicit focus on social determinants of health which are outside the health system but have huge impact on the health of individuals and communities such as employment, water, sanitation and hygiene, electricity among others. “In the next decades, economic growth in nations will be driven by the extent of human capital accumulation. This is why I am particularly proud of the launch of this programme, because it prepares the people of Ogbia LGA for the challenges of the next century. Human capital development cannot become a reality if the people lack basic healthcare needs, education, skills and capabilities” Said Dr. Olumide Okunola, Senior Health Specialist at the World Bank/International Finance Corporation. He added that Oloibiri, which was where Nigeria first discovered oil in commercial quantity over six decades ago, has made another first in the country by attaining Universal Health Coverage (UHC). The Permanent Secretary Bayelsa State Ministry of Health, Dr Inodu Apoku KSC said, “The OHP is a good example of how as a state we are fast-tracking achievement of UHC through collaborations with private, development and other stakeholders as part of our Bayelsa State Strategic Health Development Plan. This will help ensure our citizenry have access to comprehensive, appropriate, affordable quality essential health care through revitalization of Primary Health Care.” The attainment of UHC for both Nigeria and Africa at large requires continuous innovation of health systems at both primary and secondary healthcare levels. The success of the OHP in particular demonstrates the critical role of the private sector as a source of funding for universal access to a guaranteed package of health services at an affordable price and for provision of services which is used to leverage public financing. Health for all is possible through deliberate public and private collaborations in scalable initiatives such as the OHP, geared towards improving the quality of life for the citizens.  Isaac Oyimah/Editor

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Shell decries crude theft, vandalism in Niger Delta - NaijaAgroNet

NaijaAgroNet:

 

With a daily loss of about 10,000 barrels of oil from its pipelines to crude oil theft, The Shell Petroleum Development Company of Nigeria Limited (SPDC) has cried out for help from government, communities and other stakeholders to stem the incessant attack on oil assets in the Niger Delta.

“These are critical national assets with 55 percent government interest and they produce the crude oil that accounts for over 90% of Nigeria’s foreign exchange and the bulk of government revenue. Hurting these assets means hurting the nation’s revenue, the economy of the states, the health of the people and the environment,” SPDC’s General Manager External Relations, Igo Weli, said on Monday at a media workshop on Pipelines Right of Way Encroachment and Vandalism held in Port Harcourt, Rivers State capital city where the company has its headquarters.

“Crude oil theft on the pipeline network resulted in a loss of around 11,000 barrels of oil a day in 2018, which is more than the approximate 9,000 bbl/d in 2017, Weli said, adding that since 2012, SPDC had removed more than 1,160 illegal theft points on its joint venture pipelines in the Niger Delta.

In its June 2019 monthly report, Nigeria National Petroleum Corporation which controls Nigeria’s 55 percent interest in the SPDC JV said there was a 77% rise in oil pipeline vandalism and that 106 pipeline breaches were recorded in June, up from 60 in May.

Weli said SPDC was concerned about the lives and safety of those involved in pipeline vandalism and crude theft just as the company was concerned about the environment. “As a responsible organisation, we put safety first and have constantly made this appeal to those involved in crude theft in the Niger Delta to stop destroying their land and heritage from the spill and pollution arising from their activities.”

He described crude oil theft and artisanal refining of stolen crude as criminal acts “that are not only against the law but are also capable of mortgaging the future of the community.”

Also speaking SPDC’s General Manager, Safety and Environment, Chidube Nnene-Anochie, noted that illegal refining and third-party interference with pipelines were the main sources of pollution in the Niger Delta. According to Nnene-Anochie, in 2018 alone, “third party interference caused close to 90% of the number of spills of more than 100 kilograms from SPDC JV pipelines.”

Represented by SPDC’s Compliance Monitoring Lead, Temitope Ajibade, Nnene-Anochie said no spill was acceptable to the company. “A key priority for Shell companies in Nigeria remains to achieve the goal of no spills from our operations. No spill is acceptable, and we work hard to prevent them. However, SPDC cleans and remediates areas impacted by spills from its facilities irrespective of the cause.”

On the measures taken by the company to stem crude theft, she explained SPDC had enhanced its community-based pipeline surveillance while promoting alternative livelihoods through Shell’s flagship youth entrepreneurship programme, Shell LiveWIRE. “Between 2003 when Shell LiveWIRE was launched in Nigeria and now, the programme has trained 7,072 Niger Delta youths in enterprise development and provided business start-up grants to 3,817.

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L--R: Senior Research Adviser, Social Performance and Social Investment, The Shell Petroleum Development Company of Nigeria Limited, Kenneth Nweke; Compliance Monitoring Lead, Temitope Ajibade; External Relations Manager, Alice Ajeh; General Manager, External Relations, Igo Weli; Encroachment Management Lead, Ucheoma Amechi; and Right of Way Lead, John Okojie, at a media workshop on pipeline vandalism and encroachment in Port Harcourt …on Monday

African Green Revolution Forum 2019: AfDB, partners relaunch platform - NaijaAgroNet

NaijaAgroNet: 

The African Development Bank, the Rockefeller Foundation and the Bill & Melinda Gates Foundation have relaunched a platform to assist African agriculture ministers and other key stakeholders to promote strong growth in agricultural production and value addition in their countries, reports NaijaAgroNet.

The partners launched the new Leadership for Agriculture (L4AG) Forum on 2nd September 2019, during the African Green Revolution Forum (AGRF).

Ghana’s Minister of Food and Agriculture Dr. Owusu Afriyie Akoto, who delivered the keynote address told attendees the platform was an important tool for learning lessons from each other, “but most importantly, to help move us to a more dynamic agriculture.”

“Countries spend so much money on food subsidy programs and would like to see better yields. At the end of the day, we would like to have a clear program to address agriculture efficiently and sustainably,” said Dr. Martin Fregene, African Development Bank Director for Agriculture and Agro-Industry.

“Agriculture has to be private sector led, and it is expected to reach $1 trillion dollars…therefore the government should reduce investment risks and improve management of policy environment to ensure that agriculture thrives,” Fregene added.

This year’s AGRF brought together more than 2,000 policy, decision makers and technocrats from Africa’s agricultural sector.

The L4AG Forum is a unique platform for public and private sector leaders to interact learn from each other and strategize on how to overcome challenges hampering agricultural and economic growth on the continent.

The new L4AG will seek commitment on solutions. As such, future forums will be tailor-made to directly respond to demand by countries – focusing on what countries are really struggling with to implement effectively and get desired results.

During a series of presentations and roundtable discussions, participants shared experiences challenges and opportunities in various ICT-led agricultural subsidy distribution programs as well as lessons learned in implementing programs proven to increase crop yields, farm productivity and incomes for farmers.

Nick Austin, Director of Agricultural Development with the Global Development Program at the Bill & Melinda Gates Foundation said the organization is committed to supporting governments create an enabling environment to develop broad-based agricultural plans, despite the challenges posed by planning and monitoring.

He said: “The needs and priority of countries can vary but we can learn from one another and avoid mistakes of the past. We need to seek insights, find solutions, understand what works, looking for a module for success and avoid the usual pitfalls.”

Isaac Oyimah/Editor

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Time to Make Energy Work for Africa - NaijaAgroNet

NaijaAgroNet: 

It is long past time that we made energy work for Africa. It is past time that Africa’s natural resources benefited Africans; that every African had access to electricity; and that the wealth created by oil and gas would lead to the sustainable development of African economies.

Certainly, much needs to be done to make these dreams a reality, and the continent’s top leaders in the energy industry will gather in Cape Town on October 9-11 in Africa Oil & Power 2019 to drive the conversation forward and #MakeEnergyWork.

Thankfully, success stories and opportunities abound.

The incredible story of Senegal, for example, stands as a roadmap on creating a transparent government; building the needed infrastructure to support future development; creating an attractive regulatory framework to bring in much-needed FID and new investment; and for using the oil and gas sector to spur new growth.

The country, led by H.E. Macky Sall, the President of the Republic of Senegal, has seen tremendous growth in the last decade, consistently ranking in the top ten fastest-growing economies in the world. Government reforms, led by Sall, have improved Senegal’s image both domestically and abroad, encouraging a string of new investment in oil and gas, electricity, roads, fisheries and tourism.

The outlook for the country’s oil and gas sector, led by Sall, is bullish, with two of the world’s most-watched projects -- SNE oilfield and the Great Tortue/Ahmeyim gas project -- moving forward. Both are expected to start producing export revenues in the early 2020s.

H.E. Sall, winner of the prestigious “Africa Oil Man of the Year” award during the 2019 Africa Oil & Power conference, has certainly provided Africans with a strong example of leadership and cooperation. We are honored to recognize and support H.E. Sall’s achievements and continued efforts at Africa Oil & Power.

At Atlas-Oranto, we are proud to be leading pioneers in the sustainable development of Africa’s energy sector, ensuring growth in countries like South Sudan, where we are honored to operate Block B3; in Equatorial Guinea where we operate Block I and in Nigeria, where we operate OML109. In total, Atlas-Oranto is active in 11 countries in Africa and we are committed to working with the governments and communities of these countries to ensure our operations meet the highest standards of energy development. In Equatorial Guinea, for example, we are currently investing $350 million into the country’s gas monetization and backfill project.

At Atlas-Oranto -- Africa’s largest privately-held, Africa-focused exploration and production group -- we have faith in Africans, and we invest heavily in frontier markets so that the continent as a whole can continue to grow. We know first-hand what it takes to get new investments off the ground and how to grow small-to-medium enterprises. It takes boots on the ground, as well as understanding and coordination with our brothers and sisters around the world.

Indeed, with new investment opportunities on the horizon and a new drive to cooperate across borders, now is the time to spur this sustainable growth in Africa with energy as the catalyst.

At Africa Oil & Power 2019, many of these opportunities will be featured, including the ongoing licensing rounds in Equatorial Guinea and Angola; the launch of the South Sudan licensing round; and more.

For three days, over 1,200 of Africa’s foremost thought leaders, industry experts, private sector executives and government officials will gather together to discuss the incredible role of technology in Africa’s energy sector; the rise of renewables; the incredible upstream opportunities from South Africa to Senegal and the need for cooperation.

*By Prince Arthur Eze/Editor

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Ekiti moves to curb perennial flooding - NaijaAgraNet

NaijaAgroNet: 

The Ekiti State Governor, Dr Kayode Fayemi on Saturday disclosed that his administration has commenced dredging of major water channels in the state in a bid to prevent perennial flooding in the state, reports NaijaAgroNet.

Governor Fayemi disclosed this in a chat with journalists shortly after inspecting flooded areas in Ado-Ekiti, the state capital, Ikere-Ekiti Eporo and Ogbese.

Several communities were affected by flooding following Friday night’s heavy down pour. These include: Oke Osun in Ikere Ekiti, Olujoda zone 1 (Ado Ekiti), Ureje (Ado Ekiti), Elemi Afao road Ado Ekiti and Ogbese in Ise-Orun local government.

Dr Fayemi who empathized with the victims of the heavy flooding which overran some bridges and flooded some homes and farm lands promised government’s support for the victims, adding that his government would leave no stone unturned in ensuring that perennial flooding is completed curbed in the State.

He assured that government would provide succour for those who were rendered homeless by the flood.

While warning citizens against indiscriminate disposal of waste in the drains, the governor urged them to imbibe the maintenance culture and desist from acts that are capable of endangering the society. He added that anyone caught disposing waste in the drains would face the wrath of the law.

Fayemi stated that government had desilted blocked drainages in virtually all parts of Ado Ekiti, the State capital so as to give room for free flow of water and forestall flooding, but lamented that some citizens have not stopped dropping refuse in the drains.

“This government prioritizes the welfare of citizens. We cannot fold our arms and watch people lose lives and property to flood. This was why we embarked on the de-silting of blocked drains and the dredging of blocked waterways. For us as a government, we are committed to a safe environment. Just a few days ago, I got a call that Ureje bridge along Poly road in Ado was affected by a heavy rain that fell on Tuesday, and as a responsive government, I directed the Commissioner for Environment to see what could be done to address the menace.”

“While we have filled up the areas eaten up by erosion with heavy stones to prevent the Ureje bridge from caving in, we are also considering some lasting solutions. But our people too have critical roles to play in ensuring that we have a safe environment. It is unacceptable to dump refuse in the drains. Once the drains are blocked, flooding is certain to happen. Whoever is caught dumping refuse in the drains will face the wrath of the law”, he said.

At Ogbese, the bridge had been overrun by flood and had sacked residents living close to the river bank.

The governor interfaced with members of the community said the flood was not unconnected with the lackadaisical attitude of the contractor handling the construction of Ogbese dam.

Governor Fayemi immediately went to the dam and summoned the contractor to his office on how to control water from the dam and preventing it from causing needless flood.

Ayo Midele/Editor

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Rice by 2030: Japan to help double Africa production - NaijaAgroNet

NaijaAgroNet:

The Sasakawa Association will work with the Japan International Corporation Agency (JICA), to help double rice production to 50 million tonnes by 2030. Japanese Prime Minister Shinzo Abe made the announcement at the Sasakawa Africa Association (SAA) symposium held on Wednesday during TICAD7, reports NaijaAgroNet.

“Japanese technology can play a key role in innovation which is key to agriculture,” Prime Minister Shinzo Abe told delegates.

Discussions at the Symposium focused on Africa’s youth bulge, unemployment rates, agricultural innovations and technologies, solutions and job creation opportunities in the agricultural sector.

“We’ve always believed in the agriculture potential of Africa,” said Yohei Sasakawa, Chairman of the Nippon foundation. “We are paying more attention to income-generating activities. We want to help shift the mindset of small-holder farmers from producing-to-eat to producing-to-sell. We are hopeful that Africa’s youth can take agriculture to a new era, and that they can see a career path in agriculture,” he said.

In a keynote address, African Development Bank Group President, Akinwumi Adesina, called for urgent and concerted efforts to “end hunger”.

“In spite of all the gains made in agriculture. We are not winning the global war against hunger. We must all arise collectively and end global hunger. To do that, we must end hunger in Africa. Hunger diminishes our humanity,” Adesina urged.

According to the FAO's 2019 State of Food and Security, the number of hungry people globally stands at a disconcerting 821 million. Africa alone accounts for 31% of the global number of hungry people – 251 million people.

Commending the Sasakawa Association’s late founder, Ryochi Sasakawa, for his tireless efforts in tackling hunger, Adesina said: “Passion, dedication and commitment to the development of agriculture and the pursuit of food security in our world has been the hallmark of your work.”

Between 1986 and 2003, Sasakawa Association in Africa, operated in a total of 15 countries including - Ghana, Sudan, Nigeria, Burkina Faso, Benin, Togo, Mali, Guinea, Zambia, Ethiopia, Eritrea, Tanzania, Uganda, Malawi and Mozambique.

Isaac Oyimah/Editor

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Shell, SAP offer free ICT training to graduates - NaijaAgroNet

NaijaAgroNet:

Ten Nigerian graduates of business and information technology disciplines have completed a one-year specialised digital training and certification in financial accounting and project management while another set of 10 beneficiaries have commenced their training cycle in the programme sponsored by Shell Nigeria Exploration and Production Company (SNEPCo) in collaboration with SAP Nigeria.

Speaking in Lagos last week at the closing ceremony for the exiting participants, SNEPCo’s Managing Director, Bayo Ojulari, described the training initiative as critical in preparing young Nigerian graduates for the evolving workplace technology and to give them industry exposure and certification in selected SAP modules.

According to Ojulari, SNEPCo and other Shell companies are key players in digitalisation. “Shell’s strategy is to be a leading player in digitalisation. We are a pioneer in the development and deployment of many digital technologies, and we use advanced IT infrastructure in innovative ways.”

Represented by the Information Technology Manager for Shell Companies in Nigeria, Mr. Dave Osewemgie, Ojulari applauded the collaboration with SAP “especially for taking on our recommendations, which helped to improve the training curriculum.”

Also speaking, the Nigerian Content Development Manager of Shell Petroleum Development Company, Mr. Olawuyi Olarenwaju, explained that the programme which began in 2018 was designed to improve the employability of young Nigerian IT and Business graduates.

He said, “Shell Nigeria partnered with SAP to deploy the programme in Nigeria and the initial partnership featured 22 young Nigerians, 10 of which were deployed in Shell Nigeria companies. SAP affirms that globally, 99% of the trainees have been able to find employment after graduation. For the 10 graduates deployed this cycle, five are already at the recruitment stages of different organisations. These speaks to the quality of the training provided by SAP”.

The certification training is worth US$ 25,000 per students and is provided by SAP Nigeria at their training facilities to the selected candidates as part of their SAP Skills for Africa programme. Initiated in 2018, SAP skills for Africa programme runs in 22 countries and has produced 22,700 participants so far.

One of the graduates, Dafe Isodje said, “The programme is not only about technical skills but also about the soft skills. It was a pleasure to work in an environment where everybody is hungry to win, yet humble when they do. We just want to say a big thank you to SNEPCo for contributing greatly to our professional development through this programme.”

Since 2011, Shell companies in Nigeria have awarded more than 5,000 university and graduate educational grants as part of their human capacity development. In particular, the Shell Niger Delta Post Graduate Scholarship programme has benefitted more than 75 Niger Delta indigenes with studies at three top universities in the United Kingdom – University of Leeds, Imperial College and University of London. Also, since 2014, 140 young engineers and geologists have acquired industry experience through the Shell/Petroleum Technology Association of Nigeria (PETAN) internship programme.

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Pix: Head, Social Performance and Investment, Shell Nigeria Exploration and Production Company, Hope Nuka, (right) receiving the award of ‘Most Outstanding IOC Contributor to Gas Development in Nigeria’ from Chairman, Association of Energy Correspondents of Nigeria, Olatunde Dodondawa, at the 20th annual conference of the association in Lagos, last weekend.

UNICEF partners IHS Towers for children in rural communities - NaijaAgroNet

NaijaAgroNet:

UNICEF has signed a partnership with IHS Nigeria, the Nigerian subsidiary of IHS Towers, in support of a Child Friendly Community Initiative (CFCI) on which UNICEF is working with the Government of Nigeria to  empower and strengthen the capacity of local governments and rural communities, including local development councils, religious and traditional leaders, to adopt child-centred attitudes, behaviours and practices and improve access to basic services that promote child well-being and development, reports NaijaAgroNet.

Children and women in Nigeria face multiple deprivations and challenges, many rooted in poverty and inequality, with millions of them vulnerable to disease, malnutrition, lack of education and numerous violations of their rights. UNICEF aims for the Child Friendly Community Initiative to help accelerate tangible and sustained improvements for children in rural Nigeria who are consistently experiencing the highest levels of deprivation and poverty, with a view towards Nigeria achieving the Sustainable Development Goals by 2030. 

“Vulnerable children tend to suffer from multiple overlapping deprivations that are often mutually reinforcing”, said Peter Hawkins, UNICEF Nigeria Representative, adding that “UNICEF believes a holistic and integrated approach is required that actively supports communities and local government with child-centred planning and service delivery, informed decision-making and corresponding attitudes, behaviours and practices that lead to better outcomes for children.”

Speaking at the signing event, Mohamad Darwish, IHS Towers Co-founder, Senior Vice President and IHS Nigeria Chief Executive Officer, commended UNICEF’s efforts in driving this initiative. He said, “Our four pillars - Ethics, People, Environment and Education – have been critical in driving our sustainability efforts within local communities in which we operate throughout the country and we are delighted to partner with UNICEF to continue addressing the needs of the most vulnerable individuals in-line with the United Nations Sustainable Development Goals.” 

A child friendly community is one where every child receives the nutrients, dietary diversity and stimulation that they need to develop; where every child is fully immunized, has a birth certificate, is protected from violence, exploitation and abuse, has access to quality health care, education and clean water; where the community is certified as open defecation free; and where parents, caregivers, young people and community leaders are informed about and actively engaged in promoting the well-being and development of children.

Communities will be sensitized on child rights and child-centred attitudes, behaviours and practices and means of improving access to basic services that promote child well-being and development.  Community level structures and institutions will also be strengthened through training to actively plan, manage services and maintain/sustain created assets.

“The Child Friendly Community Initiative will be accelerated across Nigeria with the active engagement and support of a diverse range of stakeholders; the private sector has a key role to play as well. We are delighted that IHS shares this vision and is the first company to join the initiative, demonstrating how the private sector can help boost development for children.” said Peter Hawkins.

Isaac Oyimah/Editor

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N70bn commitment: NIRSAL signs MoU with Ecobank - NaijaAgroNet

NaijaAgroNet:

The Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL) has signed a Memorandum of Understanding (MOU) with Ecobank on a N70Billion portfolio commitment from the bank to Agribusiness projects initiated and de-risked by NIRSAL, reports NaijaAgroNet.

The facility will be drawn down in series, with the MOU effectively kicking off an initial N15Billion agribusiness financing provision by Ecobank.

The commitment by Ecobank is the latest fruit of NIRSAL’s focus on breaking the jinx of poor investment in agribusiness by the financial sector by providing banks with strong incentives such as risk-sharing, technical assistance and innovative insurance.

The MOU is an offshoot of a meeting that took place between the two organisations on June 20, 2019, in which NIRSAL aroused Ecobank’s interest with its de-risked agribusiness model; prompting the bank’s immediate financial commitment and desire to formalize the partnership.

It is believed that the attraction for Ecobank, and indeed other commercial banks who have recently made portfolio commitments to NIRSAL-supported agribusiness projects are anchored on NIRSAL’s Mapping-to-Markets (M2M) strategy, conceived to de-risk and make operations in commodity value chains more efficient through optimized primary production in a closed financing loop.

Announcing the partnership in Lagos after a business meeting with the management of Ecobank, Aliyu Abdulhameed, Managing Director/CEO, NIRSAL Plc, said that Ecobank’s onboarding demonstrates the growing acceptance of the Central Bank of Nigeria’s proposition of NIRSAL as an innovative mechanism targeted at de-risking lending to the agricultural sector and providing a safe climate for highly profitable private sector investments.

Abdulhameed stated that “this MOU Signing marks the beginning of a collaboration between NIRSAL and Ecobank on NIRSAL’s agri-business initiatives and the development of products that will support lending to actors in the agricultural value chain in conformity with Ecobank’s risk acceptance criteria and credit process. With Ecobank’s commitment of a N70Billion portfolio to NIRSAL’s agribusiness initiatives, the bank and NIRSAL would jointly select and develop projects that will meet the financing needs of actors in NIRSAL’s focal commodity value chains”, he added.

According to Abdulhameed, NIRSAL’s focus commodity value chains, otherwise known as the 5-4-3-2-1 commodities, include 5 Industrial Commodities – Maize, Soybean, Wheat, Cassava and Cotton; 4 Export Commodities – Hibiscus, Sesame, Ginger and Shea; 3 Consumer Commodities – Rice, Sweet potato and Beans; 2 Controlled Environment Agriculture Commodities – Fresh Fruits and Vegetables (FFV) and Aquaculture; and Integrated Livestock Commodity.

Under this agreement, and in line with its Mapping to Markets (M2M) strategy, NIRSAL will identify and refer structured projects to Ecobank to support the Bank’s deal origination and financing operations in agribusiness. On its part, Ecobank will finance the projects leveraging NIRSAL’s Credit Risk Guarantee (CRG) which is a further comfort for lenders to agriculture and agribusiness.

Also speaking at the MoU signing ceremony in Lagos, Patrick Akinwuntan, Managing Director, Ecobank Nigeria Limited said the bank is actively promoting agriculture as a strategic initiative to support national development which is critical to the wellbeing of Nigerians. According to Mr. Akinwuntan Ecobank is committed to working with NIRSAL to open up the vast opportunities that abound in agriculture and to ensure citizens benefit ultimately.

“This is a collaboration. The Federal Government had made it clear that investing in the agriculture sector is very critical for Nigeria to succeed, especially taking into consideration the natural endowment God granted us in terms of population, land and whether. We have the opportunity to make agriculture the economic spinner for Nigeria. What we are doing is to fulfil this policy direction of the Federal Government and the Central Bank of Nigeria (CBN)” he noted.

Further, Mr. Akinwuntan reiterated that “in Nigeria Ecobank hopes to contribute positively to move the economy forward, creating employment for the teeming population through agriculture. We found a natural partner in NIRSAL as they have the requisite intellectual capacity to act as a meeting point for the stakeholders in the sector. The de-risking participation of NIRSAL gives us the will to provide these facilities at single-digit rates at a maximum of 9% to ensure that the users are able to make profits. When our customers make profits, we are also able to make profits. So, it is a win-win business for everyone”.

NIRSAL’s M2M primary production strategy, to which commercial banks are opening up their balance sheets, has already been deployed for the production of Maize and Soybeans in Geo-cooperatives across Benue, Ekiti and Niger States. A fortnight ago, NIRSAL hosted value chain players across all segments of the commodities’ value chains in a roundtable where terms of engagement were discussed and adopted. The clear indication of an end-to-end control of the production and marketing process presented banks at the roundtable with opportunities to, not just invest, but to sell their retail services for the long-term.

The M2M strategy is a closed-loop financing system whereby all financing transactions on a particular project site is mandatorily maintained in a single bank. This confers cashflow visibility and control on the operating bank- a key risk management strategy, besides several other benefits. Accordingly, NIRSAL will refer input and service providers, commodity merchants and industrial off-takers under the M2M to Ecobank for account opening and debt finance hence, driving the growth of the bank’s business.

Isaac Oyimah/Editor

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FirstBank agric expo set to promote opportunties -NaijaAgroNet

NaijaAgroNet:

Nigeria’s premier and leading financial services provider, First Bank of Nigeria Limited, has announced that its 2019 FirstBank Agric Expo would hold on Friday, 30 August 2019 at the Eko Hotel and Suites, Lagos. The 2019 edition - the third in the series – is themed “Agricultural Value Chain – Spotlighting Opportunities and Managing Risks” would have Professor Benedict Oramah, President of AFREXIM Bank as the Keynote Speaker, reports NaijaAgroNet.

The annual FirstBank Agric Expo, launched in 2017 provides the lead in national discourse on sustainable agriculture value-chain as a substantial source of Nigeria’s economic development, improved contribution to her balance of trade as well as foreign exchange. The 2019 edition would host over 600 delegates and over 60 exhibitors to display the latest technology in farm equipment, tools and machineries as well as packaged finished agricultural produce, logistics and supply, thereby keeping the participants and sundry agribusiness practitioners abreast with new opportunities in the Agricultural industry.

Besides the plenary session, the expo will feature three (3) Masterclasses with in-depth analysis on specific areas of Agribusiness, facilitated by enterprising Subject Matter Experts (SMEs). The Masterclass facilitators include Mr. Leonard Anyanwu, Group Executive Director, Saro International Limited; Mr Segun Ogunwale, Team Lead, Kominity Digital and Mr Bamidele Ayemibo Managing Director, 3T Impex Trade Centre, who will provide insight as well as share success stories and experiences.

Expressing his delight on FirstBank’s leading role at not just promoting Agriculture but diversifying the Nigerian economy, the CEO, First Bank of Nigeria Limited, Dr. Adesola Adeduntan said ”in the last 125 years, more than any other financial institution, we have played a key role in financing different sectors of not just the Nigerian economy but other economies in sub-Saharan Africa. As Nigeria expands opportunities in its non-oil sector – especially Agriculture – we remain committed to the growth of the agricultural sector and its contribution to the nation’s Gross Domestic Product.”

“Our consistency in convening the FirstBank Agric Expo, which is in its third consecutive edition, is a demonstration of our commitment to building the agribusiness economy which is capable of delivering sustained prosperity by meeting domestic food security goals, generating exports, supporting sustainable income and creating employment opportunities”, he concluded.

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