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CBN to increase credit to agricultural sector – Emefiele

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By Matthew Eloyi

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has disclosed that plans are underway to increase credit to the agricultural sector.

He made the disclosure at a dinner session with the board of the United Bank for Africa (UBA) in Abuja over the weekend.

In his comments on, “Food Security, Job Creation and the Role of the Central Bank,” the CBN governor, emphasised the critical role of banks and financial institutions in enabling more inclusive growth of the economy following the series of external shocks that had confronted economies globally.

In his words, “We were aware that if the necessary support was provided to households and business such as improved access to finance, and better infrastructure, these measures would boost productivity, and help in enabling greater direct investment flows into our economy.

“As a result, there was a growing recognition on the need to refine our monetary policy tools and regulatory framework in order to ensure that it was more responsive to the needs of the Nigerian populace. It was important that this new framework enabled the flow of credit by financial institutions to critical sectors in order to aid our efforts at driving productive activities and creating job opportunities for our growing population.”

He emphasized the significance of investments in agricultural and related businesses, distribution storage systems, and critical market infrastructure in order to build a cost-effective, viable, and sustainable food system in Africa.

According to Emefiele, the programmes have helped farmers drastically increase their yields and have made a significant contribution to Nigeria’s path to food self-sufficiency.

Agriculture

VCDP distributes tricycles to rural farmers in Kogi

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VCDP distributes tricycles to rural farmers in Kogi

The FGN/IFAD Value Chain Development Programme (VCDP-AF) has distributed tricycles worth millions of naira to rural farmers in Kogi to enhance their livelihoods and ensure food sufficiency in the state.

The state Commissioner for Agriculture and Food Security, Mr Timothy Ojomah, at the flag-off on Wednesday in Lokoja, said the gesture was part of government’s efforts toward empowering its citizens, especially rural farmers.

Ojomah expressed confidence in the Gov. Ahmed Ododo-led administration to continue to assist the rural farmers through the VCDP activities for maximum agricultural production in the state.

Ojomah, represented by the ministry’s Permanent Secretary, Abdulsalam Segir, said that government would not rest on its oars to provide farmers with inputs to boost their production.

According to him, the farmers will consistently be provided with farm equipment, fertilisers, chemicals and other machines that will assist them in their farming activities.

The commissioner, who reaffirmed government’s commitment to enhancing the well-being of the people of the state, advised the beneficiaries to be meticulous in handling the tricycles to serve them better.

He commended the achievements of Kogi VCDP, under the leadership of Dr Stella Adejoh, assuring that government would continue to give necessary support to the programme.

Earlier, Adejoh, the State Programme Coordinator (SPC) of IFAD-VCDP, said that the initiative was to boost the general wellbeing of farmers as well as ensuring beneficiaries’ full commitment along the production, processing and marketing value chain.

Adejoh expressed optimism that Kogi government would continue to take proactive measures to support and create enabling environment for the programme to thrive in the state.

The state programme coordinator urged the beneficiaries to make proper use of the tricycles to improve their well-being, stating that the gesture was targeted toward their good and that of their families.

“No one should think of selling his/her tricycle because the programme has put in place monitoring mechanism to forestall such,” she said.

Speaking on behalf of the beneficiaries, the Chairman, Gaskiya Cluster, Mr Bala Musa, appreciated IFAD/ VCDP, Kogi government as well as Federal Government for always supporting farmers in the state.

Musa promised that the beneficiaries would use the tricycles for intended purposes, adding that they would not take the opportunity for granted.

“We assure you that all our efforts will be channelled into the proper maintenance of the machines for our own benefits,” he said.

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Agriculture

Minister pledges sustained investment in agricultural production in FCT

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Minister pledges sustained investment in agricultural production in FCT

Minister pledges sustained investment in agricultural production in FCT

Dr Mariya Mahmoud,  Minister of State for the Federal Capital Territory (FCT), has pledged the FCT administration’s commitment to sustaining investment in agricultural production in the territory.

Mahamoud said this at the inauguration of the disbursement of grants to beneficiaries of the 4th batch of the FCT Fadama Covid-19 Action Recovery and Economic Stimulus (CARES) Programme, on Thursday in Gwagwalada.

She said the initiative is aimed at reducing poverty and improving livelihoods for the poor and vulnerable agricultural households in the territory.

The minister said the FCT Fadama CARES Programme would increase food security and the safe functioning of the food supply chain in the FCT.

She said the programme was designed to support the recovery of livelihood activities of the poor and vulnerable persons engaged in the agricultural value chain, with consideration to women and youths.

According to her, it is gratifying to note that within the first year of the current administration in the FCT, the Fadama CARES programme has disbursed grants to 3,150 beneficiaries under the third batch.

Mahmoud said the programme would provide grants to an additional 6,020 new beneficiaries under the fourth batch.

She said that 9,170 beneficiaries would benefit from the programme during the first year of the current FCT administration.

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Agriculture

I earn N7m annually from growing tomatoes, pepper — Gombe farmer

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I earn N7m annually from growing tomatoes, pepper — Gombe farmer

Mr Saleh Maikudi, a 35-year-old farmer from the Bula community in Akko Local Government Area of Gombe State, says he earns over N7 million annually from growing tomatoes and pepper.

Maikudi, in an interview with the News Agency of Nigeria (NAN) on Monday in the Bula community, said he became a millionaire from growing vegetables.

He said that investing in tomato and pepper farming yielded good returns.

Maikudi said he spent over N1.5 million on 30 hectares of farmland which he cultivated in 2023.

“In 2023, I made N7 million from cultivating tomatoes and pepper.

“I only spent N1.5 million as the total cost of preparing and planting the vegetables.

“I cultivated tomato, bell pepper (Tatashe), chilli pepper, Cayenne pepper (shombo) and Scotch bonnet (hot pepper) on my farmland.”

Maikudi, who is also the chairman of Vegetables Farmers’ Association in the community, said he cultivated 30 hectares of the vegetables annually.

He said that it took 10 weeks after cultivating the vegetables to start harvesting the commodities for another period of 10 weeks.

The farmer said that in the present wet season, farmers had started harvesting and off-takers had been coming to their community to buy the commodities for supply to various states of the country.

He said that the year’s rainfall, which he described as moderate, was good enough for his vegetables to grow and that his tomato and pepper did well.

“If the market is good this year, I am expecting nothing less than N10 million because my vegetables really did well.’’

Maikudi advised the government to build a modern market in the community.

According to him, the facility will help standardise the marketing of vegetables and other agricultural produce as well as provide farmers with the platform to centralise the selling of the commodity.

“Also, the government can establish mini-processing factories to help farmers cut post-harvest losses, boost food security and provide more jobs for youths in the state,” he said.

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