30,000 to benefit from FG’s small-scale loan in Zamfara

By Meletus EZE Acting President Yemi Osinbajo said on Tuesday that 30,000 persons would benefit from the Federal Government small-scale loan Zamfara State. Osinbajo said this while inaugurating some projects at Talata Mafara, Zamfara. He said the Federal Government was committed to tackling unemployment among Nigerians, especially youths. He said President Muhammadu Buhari’s administration had already engaged 2,363 graduates from the state under the Npower programme. He attributed the security challenges confronting the country to the severe unemployment situation in the country. According to him, 8,446 persons have been employed…

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NIRSAL assures farmers of timely disbursement of agric loans

By Meletus EZE The Nigeria Incentive-Based Risk Sharing for Agricultural Lending (NIRSAL) has assured farmers of its commitment to ensure prompt disbursement of agricultural loans under the Central Bank of Nigeria (CBN) Anchor Borrowers Programme. In a statement on Sunday in Abuja, NIRSA said that farmers who complied with the loans condition would receive their monies within five days of receipt of loan term sheets from the CBN. The statement expressed optimism that prompt disbursement of loans would ensure timely repayment which was a critical component of the organisation’s mandate.…

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Agric minister directs river basins to begin routine dredging of rivers

By Meletus EZE The Federal Government has directed River Basin Development Authorities to embark on routine dredging of rivers and water channels to boost agriculture. The Minister of Water Resources, Alhaji Sulieman Adamu, gave the directive on Thursday in Wachakal, Yobe, while launching the dredging of Kumadugu-Yobe tributary. He said the measure became necessary to meet the target of President Muhammadu Buhari administration’s self-sufficiency in food production. Adamu said the availability of water would enhance massive agricultural production for food security, employment opportunities and economic recovery. The minister also directed…

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Nigeria exporters lose $10bn annually to Apapa gridlock

By Thompson ABISOLA The National President, Cashew Farmers Association of Nigeria, Mr. Tola Faseru, has said exporters of agricultural produce and other goods are losing about 10 billion dollars annually to the Apapa gridlock challenge. Faseru who disclosed this in Abuja on Monday stated that the development was affecting export delivery time. Faseru, also a cashew exporter, said the challenge was also hindering exporters’ ability to fulfill commitments on time and making forwarding and shipment very expensive. The national president, who commended Federal Government’s efforts toward ensuring that normalcy returned…

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Association urges robust financing for MSMEs to enhance sector

By Aliyu DANLADI The National Association of Small and Medium Enterprises (NASME), has called for more robust financial windows for Micro, Small and Medium Enterprises to enhance development of the sector. The Chairman, Lagos State Chapter of NASME, Mr Solomon Aderoju, made the call during a media briefing on Wednesday in Lagos. According to him, financial institutions are not supporting entrepreneurs the way they should and even when they do, the interest rates are high and the conditions too stringent. “This has created more problems for businesses as none of…

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AfDB, NIRSAL, IITA kick-start system to reduce food prices, increase production

By Olamilekan FAWAS The African Development Bank (AfDB), the Nigeria Incentive-Based Risk Sharing for Agricultural Lending (NIRSAL) and IITA on Thursday kick started a technology improvement system to increase agricultural yields in the country. The Managing Director of NIRSAL, Mr Aliyu Abdulhameed, said this at a meeting of agriculture stakeholders aimed at creating a plan for agricultural transformation in Africa, through the adoption of technologies in Abuja on Thursday. Abdulhameed said partnership which is under the AfDB’s Technologies for African Agricultural Transformation (TAAT) would help bridge the technology gap in…

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Company urges FG to ban importation of corn starch

By Olamilekan FAWAS A company, Harvest Feed and Agro Processing Limited (HFAP), has urged the Federal Government to encourage cassava starch producers in the country by stopping the importation of corn starch. The chairman of HFAP, MrGokeAdeyemi, said on Wednesday in Abuja that the move would that would encourage local production and boost industrialisation. Adeyemi said government needed to protect local industries that produced cassava starch, and stop those importing cornstarch into Nigeria to the detriment of local production. “The corn starch is going to affect the sell of our…

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Accion Microfinance Bank disburses N19.13bn loan to SMEs

By Giwa SHILE The Managing Director, Accion Microfinance Bank, Mr Taiwo Joda, on Tuesday said the bank granted N19.13 billion loan to 713 Small & Medium Enterprises (SMEs) in 2017. Joda made this known in Lagos. He explained that the bank was motivated by the 2016 Enhancing Financial Innovation & Access (EFINA) Survey, which revealed that 40.1 million adults were still financially excluded. “According to the survey, the 40.1 million adults financially excluded represent 41.6 per cent of the adult population in the country,’’ Joda said. The managing director said…

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SMEDAN urges financial institutions to ease SMEs access to funds

By Meletus EZE The Small and Medium Enterprises Development Agency of Nigeria, (SMEDAN) has urged financial institutions to design programmes that will enable small businesses easily access funds. Director General of SMEDAN, Mr Dikko Radda, made the call in Abuja on Monday. Radda said funding had been the major challenge for Small and Medium Enterprises (SMEs) in Nigeria. He said the Federal Government has done a lot to ensure that funding would not be an issue to SMEs in the country. According to him, the agency has been pleading with…

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Inflation: Experts task FG on agricultural output to reduce food prices

By Kunle SHONUGA Some financial experts on Friday said the downward slide in the nation’s inflation rate could only reflect in prices of food with increased output in agricultural output. They disclosed this in Lagos, while reacting to the May inflation figure that the Federal Government should increase agricultural output to reduce prices of goods and services. Prof. Sheriffdeen Tella, Department of Economics, Olabisi Onabanjo University Ago-Iwoye, Ogun said efforts must be intensified to increase output in agriculture for both food and cash crops. He advised the government to check…

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