The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, has approved a $400-million revolving global credit facility agreement for the Export Trading Group (ETG), one of the largest and fastest-growing integrated agricultural conglomerates in Africa. The agreement will enable ETG to keep playing its vital role in the agri-foods supply chain of efficiently connecting African farmers to markets, as well as expanding access to key inputs to boost agricultural productivity in a continent with tremendous but yet unrealized potential. According to Afreximbank’s estimates, Africa spent over $90 billion on food imports in 2019, even though it possesses up to 60 percent of the world’s remaining arable land. Moreover, the Food and Agriculture Organizat...
Former Governor of Abia state and Chief Whip of the Senate, Senator Orji Kalu, believes that the federal government and its economic teams must look towards Abia and South East if they must fashion out a way of salvation from the pandemic-induced economic slump threatening the country. He stated this as part of his commendation of the people of Abia state for their steadfastness, selflessness and patriotism. According to Kalu, the political class must place the collective interests of Abians above personal ambitions in a bid to improve the common lots of the people. Describing Abia state, as the commercial hub of the South East, the former Governor called on government at all levels, to support the business acumen of Abians. In his goodwill message, Kalu called on the people of Abia state ...
The Central Bank of Nigeria (CBN) and the Bankers’ Committee have unanimously agreed to extend special facilities to Nigerian-registered airlines and the media industry in the country to enable them adequately address the negative impact of the COVID-19 pandemic. The CBN Director Corporate Communications, Mr Isaac Okorafor, made this known in a statement in Abuja on Tuesday. Okorafor said the CBN Governor, Mr Godwin Emefiele, announced this while addressing the Bank Chief Executives at the bi-monthly virtual meeting of the Bankers’ Committee on Tuesday. Emefiele urged the banks to do all within their powers to support airlines in the country, noting that such support was critical to helping the industry recover from the economic crisis triggered by the COVID-19 pandemic. Similarly, the ape...
Federal Minister of Power, Works and Housing The Nigerian Government has disclosed that it borrowed over 5,000 metric tonnes of grain from ECOWAS to feed citizens. This was disclosed by the Minister of State for Agriculture and Rural Development, Mustapha Baba-Shehuri, on Monday. He stated this while receiving the 3,999 tonnes of cereals donated to Nigeria by ECOWAS. According to Shehuri, “The Government of the Federal Republic of Nigeria loaned 5,000MT of assorted grains from ECOWAS Stock which was agreed to be paid back on grain for grain basis. “Modalities had been put in place to replace the ECOWAS Stock before the advent of COVID-19 Pandemic. That notwithstanding, I can assure you that the stock will be replaced in due course.” He said to tackle the food crisis in the West African Sub...
The governorship candidate of Zenith Labour Party (ZLP), Hon Agboola Ajayi, has described the planned reduction of school fees of tertiary institutions by the state government as an afterthought. Ajayi said one of the reasons he fell out with Governor Rotimi Akeredolu was the increase in school fees of the state-owned tertiary institutions without consideration of the earnings of parents. “The announcement by governor Akeredolu last week that he might consider school fees reduction when students are on holiday due to coronavirus pandemic was an afterthought as he was afraid of losing the October 10 governorship election. Ajayi Media Adviser Mr Allen Sowore in a statement said ‘the public would recall that one of the major disagreements between Agboola Ajayi and his boss the Governor was on...
Governor Okezie Ikpeazu of Abia State has directed the organizing committee of the 29th Anniversary of Abia State to celebrate frontline workers and honor them for their sacrifices during the coronavirus pandemic. Ikpeazu ordered the celebration in order to encourage others to make similar or even greater sacrifices in service to humanity. He listed those to be honored as; 1. Dr Stanley Okerulu 2. Dr Ijeoma Nduka 3. Lady Peace Nwaogwugwu 4. Dr Azubuike Onyebuchi 5. Nurse Lilian Anyanwu 6. Nurse Kemi Olowoniyi Governor Ikpeazu also commended a staff of Transport and Indiscipline Management Agency of Abia State (TIMAAS) who has distinguished herself in the task of controlling traffic, particularly at FMC junction of Ikot Ekpene Road, Umuahia. The staff turns up every morning before rush hour...
Mr Tunji Ajuloopin, lawmaker representing Ekiti/Isin/Irepodun/Oke-Ero Federal Constituency, has distributed laptops and Ipads to 200 participants of his digital training programme in Omu-Aran, Kwara. Presenting the gadgets and certificates to the participants on Sunday, Ajuloopin said the beneficiaries were chosen from the four local councils in the federal constituency. The lawmaker said that the aim of the programme was to check the high rate of unemployment in the country. According to him, in this age of Information and Communication Technology (ICT), we recognise the role of digital knowledge as a major driver of our economy and very critical to our future as a nation. “Sequel to this, we see the need to leverage on digital knowledge to curb the recurring menace of unemployment in our...
The Ondo State Government on Sunday said it had provided discounted agricultural inputs as palliatives to farmers as part of measures to ensure food security in the state. Mr Akin Olotu, the Senior Special Assistant to Gov. Oluwarotimi Akeredolu on Agribusiness, said this to newsmen in Akure. He said that the government also had put in place various interventions to cushion the effects of COVID-19 among farmers in the state . Olotu said the palliative (discount) was structured such that 30 per cent discount was given to interested farmers on inputs they purchased. He, however, said that maize farmers were given inputs for free on the directives of the governor. Olotu said that if farmers were not assisted speedily from the havoc wreaked on Agriculture and Agribusinesses by the coronavirus ...
Group lauds governments, Nigerians on fight against coronavirus
The Woman and Half Initiative (WAH), a group of successful professional women, has hailed the efforts of governments and Nigerians to contain the Novel Coronavirus (COVID-19) pandemic. Mrs Chile Udemgba, the WAH Promoter, made the commendation in a statement to newsmen in Lagos. She expressed joy that Nigeria was among the countries which recorded the lowest COVID-19 cases. “As the society gradually evolves from a crippling lockdown occasioned by the COVID-19 pandemic, we celebrate the effusive Nigerian spirit which has seen us all wrestle this pandemic down with our country recording some of the lowest incidences in the world,” she said. Udemgba noted that the lockdown caused many economies and businesses to collapse, thereby hindering progress. According to her, the group would celebrate...