Day: October 26, 2023

The Federal Government has distributed 30 bags of NPK fertilisers and 20 cartons of herbicides to 60 farmers in Imo.

The Director, Department of Agricultural Extension Services, Federal Ministry of Agriculture and Food Security, Mr Brooks Michael, supervised the distribution in Owerri on Wednesday.

Michael, represented by Mrs Dorothy Botar, a senior staff member of the ministry, said that each of the farmers would get half of the 50kg bag of fertilisers and four litres of pre and post emergence herbicides.

This, she said, was part of efforts by the Federal Government to ensure increased productivity and food security for Nigerians.

“The aim of this intervention is to increase farmers’ productivity and income as well as make food available to all Nigerians,” he said.

The ministry’s Director in Imo, Mr Chris Iwuchukwu, said the beneficiaries of the agricultural empowerment were drawn from all Local Government Areas of the state and urged the farmers to make judicious use of the inputs.

“The farm inputs are not for sale but for use by the farmers. We expect the beneficiaries to properly apply the inputs on their farms for optimal results,” he said.

One of the beneficiaries, Mrs Justina Njoku, a cassava farmer who hails from Aboh Mbaise Local Government Area, thanked the Federal Government for the initiative and expressed the hope of increased harvest.

Another farmer, Mr Silas Nwachukwu of Ikeduru Council Area, advised young persons to embrace farming, rather than continue to wait for white collar jobs.

“We can create jobs ourselves through farming and I can confirm that there is money in agriculture,“ he said. (NAN)(www.nannews.ng)

Source: News Agency of Nigeria

The Federal Government has charged all agencies under the supervision of the Ministry of Housing and Urban Development to work in synergy to achieve the “Renewed Hope Agenda” Action Plan for housing development nationwide.

The Minister of Housing and Urban Development, Mr Ahmed Dangiwa, gave the charge on Wednesday during a multi-agency meeting with all heads of agencies and institutions under his supervision in Abuja.

Speaking at the meeting, Dangiwa said the meeting was part of the efforts of President Bola Tinubu to ensure that all housing agencies tasked with housing Nigerians, worked together as partners and not at cross purposes.

“We have received extensive briefings from the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA), as part of our ministerial briefings since they fall directly under the ministry’s supervision.

“For the housing agencies under the Ministry of Finance, we have engaged Family Homes Funds Limited (FHFL).

“Today, we heard from the Nigeria Mortgage Refinance Company (NMRC).

“I must acknowledge that the management of NMRC has reached out earlier to meet with us; however, events have kept pushing it forward.

“Specifically, I called this meeting as part of the efforts of President Tinubu to ensure that all housing agencies that are tasked with housing Nigerians work together as partners.

The minister said under President Tinibu’s “renewed hope agenda” for housing, the government expects all federal housing agencies to work with the clear understanding that at the core of what they do is housing Nigerians.

He added that even though each institution might go by different names, the end result of their operations, “is enabling access to decent and quality housing for all Nigerians across all income segments.

“You all represent different categories of needs and target markets.

“For the social housing segment, we have the Family Homes Fund Limited; for the affordable housing category.

“We have the Federal Mortgage Bank of Nigeria (FMBN), and for the mid to high end of the market, we have the Federal Housing Authority (FHA).

“The Nigeria Mortgage Refinance Company (NMRC), on the other hand, has a wider role to play in developing the housing market and building a robust housing finance market through its mortgage refinancing that are designed to boost liquidity in the housing market.

“This includes housing reform initiatives such as the model mortgage foreclosure law, uniform underwriting standards, housing market management system, and its data initiatives.

Dangiwa noted that the country did not have shortage of institutions but decried how little they had gone to address the housing problems in the country.

“This is more so when we consider the state of the housing market, the systemic challenges we still confront, the estimated size of the housing deficit, the prevalence of slum dwellings, the cost of land acquisition, interest on mortgage loans, among several other challenges and how little progress we have made in addressing them.

“We are determined to change this embarrassing narrative.

“We no longer have the luxury of time to think about our mandates the way we have always done.

“With each passing month, each passing year, we are losing time while the problem is compounding.

“Our population is rapidly increasing, and the housing need and demand are rising.”

He tasked them to act with urgency while taking cognisance of the magnitude of the housing challenge in the country.

The minister noted that there were limitations such as systemic or macro-environment related, the rising inflation rate, the Land Use Act, Institutional Establishment Acts of the FHA and the FMBN, the obsolete provisions in the NHF Act, lack of government capital interventions, and other gaps in the housing value chain.”

He, however, said he believed that there still existed areas that could be leveraged on in spite of these challenges to make a greater impact.

“As the drivers of His Excellency’s vision at the ministry, we are establishing a solid and comprehensive framework for the reform of the housing and urban sector in the country.

“Our action plan includes: strengthening the Institutional capacity of federal housing agencies, including the Federal Mortgage Bank of Nigeria (FMBN) and Federal Housing Authority (FHA), increasing the supply of decent and affordable housing stock, and the establishing a National Social Housing Fund (NSHF).

“We will implement land reforms to streamline land administration and ensure easy access to land for Nigerians and private sector players.

“We will set up Building Materials Manufacturing Hubs, implement urban renewal and slum upgrading programmes, and develop new cities that are integrated and inclusive, using a demand driven approach.”

Dangiwa stressed that all of these action plans would require the collaboration and participation of all agencies to successfully transform the housing sector.

“Going forward, you must forge stronger partnerships, leverage your strengths, and work together with a singular focus so that we can deliver decent, quality, and affordable housing to Nigerians.

“I look forward to having each of you rise up to the moment and unlock the potentials of your respective agencies to deliver on Mr. President’s renewed hope agenda for housing.” (NAN)(www.nannews.ng)

Source: News Agency of Nigeria

Gov. Babajide Sanwo-Olu of Lagos State has called for an integrated west African capital market to foster collaboration and tackle infrastructure gap.

Sanwo-Olu said this at the third West Africa Capital Market Conference (WACMaC) on Wednesday in Lagos, with the theme: “Infrastructural Deficit and Sustainable Financing in an Integrated West African Capital Market.”

He said an integrated capital market in the sub-region would help to plug infrastructure deficits.

According to him, there are many ways that an integrated West Africa capital market can help with plugging infrastructure deficits in the sub-region.

“One is the Economies of Scale that will accrue from such an integration and this will enable the pooling of funds across the more extensive sub-region to finance large projects that can serve multitudes of people.

“In addition, an integrated capital market will result in the harmonisation of regulations to make it easier for trade and investments across borders and give confidence to investors,” he said.

The governor added that the ease of doing business that would result from a harmonised regulatory environment would open up funding possibilities for infrastructure projects in the sub-region.

He said that governments were actively aware of the imperatives of addressing infrastructure deficit and sustainable financing in the region.

Sanwo-Olu said the theme of the conference was apt for the moment, as across the sub-region, modern infrastructure such as roads, rails, ports, fibre optics and connectivity power, among others, were largely inadequate.

“These perennial inadequacies have hindered the economic growth of our various nations and economic development of our people.

”It behooves, therefore, on us to deliberate on ideas, financial strategies that can bridge these infrastructural gaps, enhancing the quality of life of our people and propelling out economy to greater heights.

“While governments like ours continue to make efforts at plugging the huge infrastructural deficits, we cannot do it alone and that is why we are collaborating with you.

“We are waiting to see the types of innovative instruments and ideas that you can bring forward, for us to be able to do the quick and very difficult work that you have asked us to do.

“Only innovative and creative financing, especially the products coming out of the capital market that can ease this gap. I see you as strategic partners with us and indeed we can build that ecosystem that we all crave for.

“We believe there are many ways the West African capital market can help in this regard,” he said.

According to him, the West Africa Capital Market Integration (WACMI) Project, initiated in 2010, has progressively changed the landscape of the regional economy, fostering a harmonised regulatory environment for the issuance and trading of securities across the region.

He said this had been the bedrock of capital raising and securities trading across the sub-region.

Sanwo-Olu said the journey to an integrated capital market had been phased and complex, but the strides taken so far were worth celebrating.

“The Nigerian capital market has shown remarkable resilience and competitiveness, boasting a market capitalisation of $65.834 billion as of May 2023.

“This is not a mere statistics, but a testament to the inherent strength of our economy and the boundless potential that lies within our region.

“This forum serves as an opportune platform to promote integration, spur capital formation, accentuate tourism, and attract investors, thereby enriching our collective financial discourse and action.

“The recent appointment of His Excellency, Asiwaju Bola Ahmed Tinubu, as the Chairman of ECOWAS is further testament to the pivotal role Nigeria plays in the region.

“This new leadership role reinforces our commitment to driving the integration agenda and enhancing the economic prospects of West Africa.

“Hosting this prestigious conference in Lagos offers us a unique opportunity to showcase our economic mettle, our rich cultural heritage, and our warm hospitality,” he said.

Sanwo-Olu said the event would not only foster greater integration and capital formation but also stimulate tourism and attract even more investors to the region.

Also speaking, Sen. Osita Izunaso, the Chairman, Senate Committee on Capital Market and Institutions, said the infrastructure gap of ECOWAS economies varied.

Izunaso said the Nigerian infrastructure gap stood at $221 billion, while that of Côte d’Ivoire, stood at $14 million.

He said this showed that a lot had to be done to integrate the economy of the West African region, and that capital market remained the best option.

“It is important to state that there are challenges that we must look at if we truly believe that capital market has a role to play at the sub-region.

“The challenges are not so insurmountable; we have to look at regulatory and legislative impediments; we have to look at high transaction cost; multiple taxation; fragmented and small size of national stock market; capital and exchange control,” the chairman said.

Izunaso said these were the major challenges working against an integrated capital market in the sub-region.

He called for the harmonisation of disparities in legal and regulatory frameworks in the capital market, bridging the gap in capital market development. (NAN)(www.nannews.ng)

Source: News Agency of Nigeria

The International Federation of Women Lawyers (FIDA), Ogun Branch, has condemned alleged recent rape incidents at the Tai Solarin University of Education in Ogun.

The Chairperson of the association, Mrs Taiwo Olusesi, made the condemnation in a statement she signed.

The statement was copied to the News Agency of Nigeria (NAN) in Lagos on Thursday.

Olusesi said that FIDA was deeply concerned worried by the alleged incidents.

She described rape as a heinous act, and called for justice for victims.

“FIDA commends the swift action of the Ogun State Government, which has taken steps to address these incidents by promising to investigate the alleged rape cases and bring the perpetrators to justice.

“We commend this action, and urge other state governments to follow suit.

“Rape of women and girls is a serious violation of their human rights and an affront to their dignity.

“It is a crime that should not be condoned or tolerated in any form.

“As an organisation committed to protecting and promoting women’s rights, FIDA calls on governments to take concrete steps to protect women and girls from all forms of gender-based violence, including rape,” she said.

According to Olusesi, FIDA will continue to stand by victims of rape and advocate for their rights.

“We call on all stakeholders, including civil society organisations, religious leaders and traditional rulers, to join hands with us in the fight against rape and other forms of gender-based violence.

“Together, we can create a safe and equitable society for all,” she said.

NAN reports that some hoodlums reportedly raped no fewer than four female students of the university on Tuesday.

The hoodlums were said to have invaded the hostels of the students located at Abapawa, an area off the university campus. (NAN)

Source: News Agency of Nigeria

The Minister of Innovation, Science and Technology, Mr Uche Nnaji, has assured that drought resistant, pests resilient and innovative chemicals of TELA maize have immense economic benefits.

The minister gave this assurance during a working visit to the National Biotechnology Development Agency (NABDA), where he toured the facilities on Wednesday in Abuja.

The News Agency of Nigeria reports that TELA maize is the brand name for genetically modified (GM) maize hybrids developed by the TELA maize project.

The hybrids have Bt genes that provides protection against stem borer and helps the maize plant tolerate drought.

“TELA maize is drought tolerant and insect resistant; it provides protection against drought; protection against stem borers, and significant protection against Fall Army Worms (FAW).

“This innovation will counteract the annual Fall Army Worm induced losses exceeding 268 million dollars; it will also save Nigeria a significant foreign exchange in importation of maize of over 4000,000 metric tons annually.’’

Nnaji said that due to advanced genetic technology adoption by NABDA, Nigeria became the first country in the world to release Pod Borer Resistant Cowpea and the second in Africa to deregulate TELA maize for commercial release.

He said achievement in TELA maize, Bt Cotton and Cowpea were more than scientific milestones that echoed Nigeria’s determination and progressive spirit.

The minister pledged to work with the agency and other relevant agriculture and food security stakeholders to ensure that most Nigerian grain farmers had low-cost access to the innovated and profitable maize variety.

Nnaji also hinted that the ministry would ensure that the NABDA targeted insemination of three to five thousand cattle to elevate local breeds and set the stage for increased milk production.

He said the move would decrease Nigeria’s reliance on imports, noting that in 2022, NABDA in collaboration with international partners, inseminated over 200 cattle with a higher yielding breed from Brazil.

According to the minister, the breed yields 10 to 15 litres of milk per cow daily, up from less than one litre per day.

He acknowledged the agency’s giant strides in cutting edge biotechnology as a vibrant tool of the 21st century.

The minister said NABDA’s pioneering work in bio-energy which introduced unique equipment to assess bio-methane potentials of biomass was groundbreaking.

“This venture moves us closer to our five per cent biomass energy target and promises employment for thousands of our country’s youth and women, especially in rural areas,’’ he said.

Nnaji said further that the strides made in Bt cotton commercialisation and adopting Mahyco Bollgard II Hybrid seed would reshape the cotton industry, ensuring higher yields, enhanced quality and cost-effective management.

On his part, Prof. Abdullahi Mustapha, Director-General of the NABDA, said it was in April 2022 that former President Muhammadu Buhari signed the bill establishing the agency into law which was passed by the National Assembly.

He said the act expanded NABDA’s scope of activities, making the agency fully recognised as a research institute.

“As a result of this, the agency can create job awareness, coordinate, facilitate, deploy, domesticate and carry out research in all areas of biotechnology for the development of Nigeria,’’ he said.

The director-general said that Nigerian scientists in the field of biosciences were delighted that Nigeria was among the comity of nations on course in the appreciation and application of modern biotechnology research.

He said the immense benefits drivable from this technology were globally acknowledged, and were as varied as the vast scope of the technology itself.

Mustapha enumerated the 37 Bioresources Centres, the six Centres of Excellence located at the premier Universities and a specialised Centre of Excellence as well as other technical departments.

“NABDA has been able to create awareness among the political class, farmers, and the public on the importance of biotechnology to our national development.

“More biotech crops are on the way and NABDA is working hand in hand with other partnering institutions to fast track the president’s Food Security Agenda,’’ Mustapha said.(NAN)(www.nannews.ng)

Source: News Agency of Nigeria