Headlines
Focused on Robust Monetary Policy, Building Strong Financial System,’ says Central Bank Chief Emefiele

By Derrick Bangura
Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), emphasized on Monday that he is now focused on creating a stable monetary policy and fighting inflation, which he stressed is still a worldwide issue.
On the same day, Emefiele announced that the federal government had disbursed a total of N948 billion to 4,478,381 smallholder farmers to enhance food production in Nigeria via his verified Twitter profile, @GodwinIEmefiele.
Emefiele claimed in the tweet that in an increasingly unpredictable global economy, he was dedicated to building a solid financial system. In the apex bank’s self-sufficiency and import substitution effort, he said he was also focused on strengthening development finance and aiding farmers and industries.
He added that he remained committed to raising N15 trillion for the Infrastructure Company (InfraCo) to boost infrastructure financing in the country.
The CBN governor furthermore stated that he was committed to delivering a world-class International Financial Centre (IFC) in Lagos as well as providing the administration of President Muhammadu Buhari with the needed support to finish strong.
Earlier in February, Emefiele, while reacting to speculations around his purported interest in the 2023 presidential race, had said it was the prerogative of President Muhammadu Buhari to execute his succession plan in line with global best practice, for good governance and continuing peace and progress of the country.
The CBN governor stressed that he was focused on his job, even as he pledged to continue to support the federal government’s economic recovery drive.
Meanwhile, at the Ekiti State University, Ado Ekiti, while presenting a convocation lecture titled, “The Role of Central Bank in Managing Economic Downturns,” to mark the 40th anniversary of the university on Monday, Emefiele revealed that the federal government had disbursed a total of N948 billion to 4,478,381 smallholder farmers to boost food production in the country.
He added that apart from encouraging farming, the programme had generated an aggregate of 12.5 million direct and indirect jobs for the Nigerian youth.
The CBN governor said under the credit facility to help households and businesses that suffered significant losses during the pandemic, the central bank had disbursed N368.79 billion to 778,000 beneficiaries.
Giving the breakdown of how the facility was disbursed, Emefiele revealed that 648,052 households and owners of small and medium scale Enterprises (SMEs) benefited from the federal government-driven policy.
He stated, “As you all know, one of the major challenges facing Nigerian economy is over-reliance on revenues and foreign exchange earnings from the sale of crude oil, even though the petrol represents just 10 per cent of our Gross Domestic Product (GDP).
“More so, the non-oil sector, particularly agricultural and manufacturing sectors, which contributes about 30 and 13 per cent to our GDP, have been confronted with low investments, inadequate credit to real sector and weak infrastructure.
“Furthermore, with an annual population growth rate of 2.8 per cent, it was important that all efforts are made available for Nigerians, particularly in sectors that had the potential to absorb youths.
“We were aware that if necessary support was given to households and business, productivity will rise and investment will flow into our economy.”
Emefiele hinged the current economic downturn and hardship on the economic recession of 2015-2017 and the COVID-19 pandemic that led to revenue drop and reduction in foreign investment portfolio.
Olanipekun said though the university was experiencing some challenges, no effort would be spared to keep the flag flying in its resolve to be a good citadel of learning for Nigerians.
Chairman of the occasion and Catholic Bishop of Ekiti Diocese, Most Reverend Felix Ajakaye, urged the governments to be more pragmatic in the implementation of its policies for them to be impactful on the citizens.
“Our thought and actions must be practical-oriented. We have to go beyond lectures by being practical in dealing with policies that can benefit poor Nigerians,” the Bishop advised
Headlines
NNPC Foundation Trains Over 3,000 Southwest Farmers in Climate-Smart Agriculture

In a bid to promote food security and sustainable agricultural practices, the NNPC Foundation has successfully trained more than 3,000 farmers in the South-West geopolitical zone on climate-smart and modern farming techniques.
The training, which concluded on Friday in Ikorodu, Lagos, marked the end of the Southwest phase of the foundation’s pilot programme aimed at empowering local farmers and boosting agro-productivity.
Speaking at the closing ceremony, Managing Director of the NNPC Foundation, Mrs. Emmanuella Arukwe, described the initiative as a milestone in the lives of thousands of farmers.
“Today marks the formal conclusion of the first phase of a national journey that speaks to resilience, food security, and economic empowerment,” Arukwe said.
“What began as a bold decision to support small holder farmers has translated into tangible action across three geopolitical zones (South-East, South-South, and South-West) in Southern Nigeria.”
She disclosed that a total of 3,860 vulnerable farmers across 10 locations in the three regions were trained in sustainable farming practices that improve productivity and market access.
“This achievement is not just a number, but a milestone in the lives of real people and real communities. We were able to strengthen farmers’ capacity to adapt to climate change,” she added.
“Through the training, we were able to improve access to markets, promote inclusive agriculture and especially gender representation. We also trained them on enhancing food production through sustainable techniques.”
Arukwe noted that the programme would now move to the North-West, North-Central, and North-East zones as part of its next phase, saying the foundation is committed to supporting livelihoods nationwide.
“This is only Phase One. We will now turn our focus to the North-West, North-Central, and North-East zones. What we have achieved in the South will inform and strengthen our next steps,” she said.
“The NNPC Foundation will continue this mission, to support livelihoods, build resilience, and empower the hands that feed our families and beyond.
We have decided that most times you get a lot of requests from people asking us to give them palliatives and all kinds of things to help them.
But we think it is much better to teach people to fish than just give them fish so they can continue,” Arukwe explained.
Chairman of Ikorodu Local Government, Mr. Wasiu Adesina, while commending the initiative, urged the beneficiaries to apply the knowledge gained to boost productivity and profitability.
“As we all know, agriculture is the bedrock of any nation. Without agriculture, there will not be a nation, because there will be no food to eat,” Adesina stated.
“It is the farmers that produce our food, and it is important that we train our farmers with new techniques in agriculture, and that is exactly what the NNPC Foundation is doing.
“To the farmers, you have to take advantage of this training and face the farming squarely. In some great countries like the United States and the United Kingdom, farmers are the most richest people in those countries.
“This is because they make a lot of money from farming. We need to inculcate that habit in Nigeria and develop ideas in farming. Even after my tenure, I am going back to farming, so, maybe I will ask the NNPC Foundation to train me so that I also join you to be a farmer.”
He appealed to the foundation to provide further empowerment for the trained farmers to help them kickstart their agricultural ventures.
“If the farmers have land for farming, I believe the foundation will provide financial aid to keep their farms running,” Adesina added.
Also speaking at the event, the Lagos State Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, represented by the Director of Fisheries, Mrs. Osunkoya Daisi, lauded the Foundation’s efforts in bolstering the state’s food security.
“On behalf of the Lagos State Government, we would like to express our sincere appreciation to NNPC Foundation for training our farmers and for training all the farmers all over the country,” she said.
“Definitely, the training will help improve food production. We can see the impact of climate change effects in agriculture. I am sure farmers have been equipped with climate-smart agriculture techniques to improve production.”
The NNPC Foundation Ltd/Gte is the Corporate Social Responsibility (CSR) arm of the Nigerian National Petroleum Company (NNPC) Limited. It was incorporated in February 2023 to manage the company’s CSR initiatives and enhance Nigeria’s socio-economic development.
Education
NUC grants ESUT full accreditation for Law, 7 other programmes

The National Universities Commission, (NUC), has given full accreditation to the Enugu State University of Science and Technology (ESUT), for her Law programme.
According to the Public Relations Officer of ESUT, Mr Ikechukwu Ani, this is contained in a letter addressed to the institution’s Vice Chancellor, Prof. Aloysius Okolie, on Wednesday in Enugu by the NUC.
Ani said that in the letter, the Executive Secretary of NUC, Prof. Abdullahi Ribadu said the report was contained in the result of the October/November 2024 accreditation of academic programmes in Nigerian universities.
Ani disclosed that other programmes in the institution accredited by the NUC include Master of Science in Business Management; Education Computer Science; Education Physics and Agricultural Engineering.
Other accredited programmes he said were Quantity Surveying; Urban and Regional Planning; and Applied Microbiology.
He said that the letter quoted Section 10 (1) of the Education National Minimum Standard and Establishment of Institutions, Act CAP E3, Laws of the Federation of Nigeria 2004 as empowering the NUC to lay down minimum academic standards for all academic programmes taught in Nigerian universities.
He said the session also empowers the NUC to accredit such programmes.
Crime
Court remands 2 over alleged attempted murder

An Ikeja Magistrates’ Court, Lagos, on Wednesday, remanded two persons, Olaitan Fasasi and Kehinde Tobiloba in a correctional facility over alleged attempted murder.
Fasasi, 40, and Tobiloba, 26, whose addresses were not provided, are being charged with conspiracy, attempted murder and membership of a secret society.
The Magistrate, Mr L.A Owolabi, did not take the plea of the defendants for want of jurisdiction.
Owolabi directed the police to forward the case file to the Director of Public Prosecution for legal advice.
He thereafter adjourned the case until May 31 for mention.
The Prosecutor, Josephine Ikhayere, told the court that the defendants committed the offences at about 5.02p.m on Feb. 15, at Mushin, Lagos.
She said that Fasasi, Tobiloba and others now at large, attempted to commit murder by shooting at a resident, Alfred Ademola.
“They armed themselves with a locally made gun. They belong to Eiye Confraternity, a group proscribed by law,”, she said.
Ikhayere said that the offences contravened Sections 230(1) and 411 of the Criminal Law of Lagos State, 2012.
He said that the actions of the defendants also contravened Section 2(3)(a)(b)(c)(d) of the unlawful societies and Cultism Law of Lagos State Law.
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