Mohammed Shosanya

Governor Biodun Oyebanji of Ekiti State,says his administration will soon establish a state-of-the-art cassava farm spanning 100,000 hectares within the state.

The governor signed a Memorandum of Understanding (MOU) with a leading Nigerian investment company – Cavista Holdings (owners of Agbeyewa Farms Limited)

The MOU,which is worth billions of naira was signed by Governor Oyebanji and the Chairman of Cavista Holdings, Niyi John Olajide on the sidelines of the 2024 US-Africa Business Summit currently ongoing in Dallas, USA.

Present at the signing ceremony were the Speaker, Ekiti State House of Assembly, Rt. Hon Adeoye Aribasoye; Commissioner for Agriculture and Food Security, Mr Ebenezer Boluwade; Commissioner for Industry, Trade and Investment, Mrs Tayo Adeola; Commissioner for Finance, Mr Akin Oyebode; and Commissioner for Budget, Planning and Performance Management, Mr Niyi Adebayo.

On the Cavista Team were the company’s Managing Director, Mr. Dele Odufuye, Chief Financial Officer, Mr Niran Olajide, Dr. Niyi Arije (Legal Director) Mr. Cyril Akika (Member of the Board of Directors) and senior management staff of the company.

Also present were Chief Dele Kelvin Oye, President of the Nigeria Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), who is also the Vice Chairman, Ekiti State Development and Investment Promotion Agency (EKDIPA); Chairman, Odu’a Investment Company, Otunba Bimbo Ashiru as well as other key stakeholders from the public and private sectors.

Governor Oyebanji articulated the government’s vision for agricultural advancement, emphasizing the importance of strategic partnerships in driving progress. He underscored Ekiti State’s commitment to creating an enabling environment for investment and urged other investors to explore the vast opportunities available in the state, particularly in sectors such as tourism, mining, and the burgeoning Ekiti Knowledge Zone and Special Agriculture Processing Zone.

He described the MOU as a testament of his administration’s commitment to the continuity of programmes of the immediate past administration of Dr Kayode Fayemi as enunciated in the State’s 30- year development plan. “This also speaks to alignment of vision. John ( Olajide) wants to create jobs. We want our people to prosper by creating opportunities for them. So, we found a good partner in John and the CAVISTA group”,he said.

He expressed gratitude to Cavista for its unwavering commitment to Ekiti State, which has led to several success stories in the Tourism and the Agriculture sectors, bringing about jobs opportunities and income to the state.

“The private sector is very critical to developing our economy, and as a government we must ensure that the process of doing business is easy, seamless and top-notch. I am very proud that Cavista has continued to demonstrate confidence in our state, and all their investments are now success stories. So I look forward to the successful implementation of this MOU to the benefit of Ekiti State and Nigeria”.

Chairman of Cavista Holdings,Niyi John Olajide stated that the company had no regrets investing in Ekiti, adding that its commitment is driven by his desire to create thousands of jobs for the people of the state.

“The success of our investment in Ikogosi Warm Springs Resort and our previous agricultural investment in the state, is what encouraged us to embark on this new cassava revolution initiative, to be driven by our subsidiary – Agbeyewa Farms. We are very proud of our partnership with the state and driven by my personal goal to create thousands of jobs in the state, we look forward to another successful partnership with the Ekiti State government under the distinguished leadership of Governor Abiodun Oyebanji”. He said.

Mohammed Shosanya

The Central Bank of Nigeria (CBN) says its fertilisers donation to the Federal Ministry of Agriculture and Food Security,last week,does not represent a resumption direct interventions in the real sectors of the economy.

The apex bank donated 2. 15 million tonnes of assorted fertilisers, worth over N 100 billion to the ministry last week.

The CBN explained that the donated fertilisers were the remnants of its stock, which were blended under its previous interventions in the agricultural sector.

According to the bank,the decision was aimed at supporting domestic agricultural production rather than allowing the fertilizers to remain unused and go to waste.

The bank added that the fertilisers were released to the ministry which deals directly with farmers because as the Governor has said at many fora, “CBN is realigning its focus towards its core mandate of ensuring monetary and price stability,thus stopping its direct involvement in development finance interventions.”

The CBN has, however, promised to support relevant organisations that possess the expertise and capacity to intervene directly.

The CBN made the decision to donate the fertilisers to Nigerian farmers through the ministry which possesses the institutional knowledge and infrastructure to effectively distribute the fertilizers to the last mile.

“This partnership is aimed at supporting the Federal Ministry of Agriculture and Food Security’s efforts to enhance food productivity and security, ultimately curbing food inflation and reinforcing the CBN’s pursuit of price stability,” the bank said.

The bank has recommended that the ministry which possesses the requisite expertise and capacity in these matters be responsible for ensuring the fertilisers reach the farmers in the most efficient and effective manner.

Mohammed Shosanya

Mr. Olayemi Cardoso,Governor of the Central Bank of Nigeria (CBN),has given 2.15million bags of fertilizer worth over N100billion to the Federal Ministry of Agriculture and Food Security(FMAFS) for distribution to Nigerian farmers in a bid to boost food production and reduce the high cost of food items in the markets.

Cardoso,who disclosed this on Wednesday at the headquarters of the Federal Ministry of Agriculture and Food Security in Abuja, said the gesture was aimed at amplifying food production and fostering price stabilisation within the agricultural sector.

According to him,food prices are a crucial component of inflation, especially considering that a substantial portion of household expenditure in Nigeria is allocated towards food and non-alcoholic beverages.

He said: “It is with great honour and enthusiasm that I stand before you today to address a matter of paramount importance that not only aligns with the core objectives of the Central Bank of Nigeria and the Ministry of
Agriculture and Food Security but also resonates deeply with the livelihoods of all Nigerians – the escalating cost of food.

“As we are all well aware, Hon. Minister, the Central Bank of Nigeria significantly emphasises maintaining price stability as one of its primary mandates.

“Food prices are a crucial component of inflation, especially considering that a substantial portion of household expenditure in Nigeria is allocated towards food and non-alcoholic beverages.

“This reinforces the critical need to address food inflation as a pivotal aspect of managing overall headline inflation rates.

“While the CBN has been implementing comprehensive measures to curb inflation, it is evident that in the short term, inflationary pressures may persist, predominantly driven by escalating food prices.

“This is precisely why we convene today – to strengthen our collaboration with the Ministry of Agriculture to mitigate the surge in food prices.

“In alignment with our strategic shift towards focusing on our fundamental mandate, the CBN has veered away from direct quasi-fiscal interventions and transitioned towards leveraging conventional monetary policy tools for executing monetary policies effectively.

“In this light,we aim to extend our support and foster closer ties with Ministries, Departments, and Agencies (MDAs) with the mandate and expertise to undertake these critical initiatives.

“Consequently, we aim to enhance our partnership with the Ministry of Agriculture, bolstering your endeavours to enhance food productivity and security, ultimately curbing food inflation and fortifying our pursuit of price stability.

“In pursuit of these shared goals, we are delighted to announce the allocation of 2.15 million bags of fertiliser, valued at over 100 billion naira, which we humbly hand over to the Ministry of Agriculture and Food Security.

“This contribution from the Central Bank aims to amplify food production capabilities and foster price stabilization within the agricultural sector.

“My team and I reiterate our unwavering commitment to prioritising price stability and instilling confidence in the Nigerian economy by upholding consumer price stability and ensuring a balanced foreign exchange market.

Senator Abubakar Kyari, Minister of Agriculture and Food Security, thanked the governor of CBN for the provision of 2.15million assorted fertiliser.

He assured that the fertilizer would be judiciously distributed and used for the cultivation of food items in the country.

He expressed optimism that the gesture from the CBN would arrest galloping food inflation, adding that Nigeria has had very challenging period in the last eight months.

Kyari emphasized the need for all -year- round farming, adding that the Federal Government provides 50 percent subsidy on fertiliser to farmers.

He explained that through the Presidential directive, that farmers are further supported with 75percent subsidy on fertiliser, noting that seeds, herbicides and insecticides are given to farmers free of charge.

The minister,who expressed optimism that the gesture from the CBN would go a long way during the dry and wet season farming in the country,disclosed that dry season wheat farming which was flagged-off in Jigawa State by the Federal Government in collaboration with the State in November 2023, would be harvested soon.

He further revealed that wheat farming would be scaled up from the present 120,000 hectares to 250,000 hectares by next year, with the support from the African Development Bank(AfDB).

In his remarks, Senator Abubakar Bagudu, Minister of Budget and Economic Planning, said the provision of the fertiliser would go a long way to reduce the prices of food items in the markets.

Mohammed Shosanya

The Oyo state government has said it will commence disbursement of N 340. 270 million to eligible crop farmers across the seven zones of the state as from Friday, February 9, 2024.

This is in addition to a sum of N416.850m recently disbursed to 1,407 farmers across the state in the third batch of the programme.

The state government had provided a sum of N1billion under the
Sustainable Action for Economic Recovery ( SAfER) initiative of the state government to support farmers in the state to cushion the effects of subsidy removal by the federal government.

Addressing newsmen on the progress of the SAfER programme at the Press Centre of the Governor’s Office on Thursday, the Chairman, Agric Credit Corporation of Oyo State,(ACCOS), Sheikh Taofeek Akeugbagold, explained that project has been non-partisan as it is available for the generality of legitimate farmers and would-be farmers of the state including the youths that were trained by the State Government under the YEAP programme.

He said, in view of the present economic hardship being experienced by the citizenry of the state, the Corporation has been given a marching order to better the lots of the peasants most importantly in the area of agriculture.

He gave a breakdown of the how funds were disbursed with reference to the categorization of the state into seven(7) major zones.

According to him, in Ibadan Zone I which is supervised by the Bank of Agriculture, Ibadan, a total number 547 beneficiaries have been disbursed with a sum of N156.75Om, while Ibadan Zone II undertaken by Onibuore Microfinance Bank has disbursed the sum of N118.950m to 401 beneficiaries.

“However, in Oyo Zone undertaken by the Bank of Agriculture, Oyo, a total number of 171 beneficiaries have collected the sum of N50,700m while Ogbomoso Zone handled by Randalpha Microfinance Bank disbursed the sum of N29.250m to 84 beneficiaries.

“Also Oke Ogun Zone 1 handled by Ifedapo Microfinance Bank, Saki, disbursed a total sum of N26.230m to 79 beneficiaries while Oke Ogun Zone 2 supervised by Bank of Agriculture Iseyin disbursed the sum of N30.800m to 110 beneficiaries and Ibarapa Zone undertaken by Igboora Microfinance Bank disbursed the sum of N4.050m to 15 beneficiaries.”

“This makes the total sum of N416.85Om disbursed to 1,407 farmers,” he said.

Besides, Akeugbagold also gave the breakdown of how funds for the 4th batch will be disbursed across the various zones as from tomorrow Friday 9th February, 2024 as follows:

“Ibadan I :To be undertaken by Bank of Agriculture, Ibadan.75.950m for 269 beneficiaries.Ibadan II: Represented by Onibuore
Microfinance Bank ,N132.250m for 474 beneficiaries.”

“Oyo: Bank of Agriculture, Oyo N24.50m for 87 beneficiaries.Oke-Ogun I:Ifedapo beneficiaries
Microfinance ,N 26.270 m for 93 beneficiaries.

“Oke-Ogun II:Bank of Agriculture, Iseyin. N13.450m for 53 beneficiaries.Ogbomoso: Randalpha Microfinance Bank N44.200m for 159 beneficiaries.Ibarapa: lgboora Microfinance Bank N23.650m for 92 beneficiaries.”

Assuring that real farmers that missed out from all the batches that have been previously considered will be taken care of once the payment is coming forth, he also implored fresh graduates who are interested in agricultural practices to approach the corporation to access fund.

He admonished all the beneficiaries to complement the effort of the government by being faithful with the funds they obtained and to reciprocate the kind gesture of the government by paying back the fund by the due date such that others could benefit from it as a revolving fund.

Mohammed Shosanya

The Federal Government,has approved the commercial release of transgenic insect resistant and drought tolerant maize varieties, known as TELA maize.

The approval was granted by the National Committee on Naming, Registration and Release of Crop Varieties, Livestock breeds/Fisheries (NCNRRCVLF) headed by Prof Olusoji Olufajo at its 37th meeting at the National Centre for Genetic Resources and Biotechnology (NACGRAB), Ibadan on Thursday.

A statement on Friday explained that the four varieties approved by the NVRC are, SAMMAZ 72T, SAMMAZ 73T, SAMMAZ 74T, and SAMMAZ 75T.

The new maize varieties are drought tolerant and are resistant to stem-borer and fall armyworm resulting in yield advantage of up to 10 tonnes per hectare under good agronomic practices.

The national average for similar hybrids is 6 tonnes per hectare. The varieties are suitable for Rain Forest, Guinea, and Sudan Savannas.

Stem-borer reduces maize production in several countries in Africa, while fall armyworm can destroy up to 20 million metric tons of maize in Africa each year, enough to feed 100 million people.

The release and registration of the four varieties followed environmental release approval in October 2021 granted by the National Biosafety Management Agency (NBMA).

Development of the improved varieties was led by the Institute for Agricultural
Research (IAR) Samaru, Ahmadu Bello University Zaria through the TELA Maize Public-Private Partnership coordinated by AATF.

The TELA Maize Project is currently being implemented in 5 countries – Ethiopia, Kenya, Mozambique, Nigeria, and South Africa.

Prof Ado Yusuf, Executive Director, IAR expressed satisfaction with the release of the new four maize varieties saying, “IAR is very proud of our scientists who are addressing the maize productivity challenges in the country and beyond.

“These varieties have undergone thorough research and have been developed using the tools of biotechnology over several years of continuous testing and revalidation.”

Dr Canisius Kanangire,Executive Director of African Agricultural Technology Foundation(AATF) said, “the release of TELA Maize in Nigeria will contribute to food and nutrition security in line with the Federal Government’s Agricultural Transformation agenda.

“AATF reaffirms unwavering commitment to addressing challenges faced by farmers across the continent.”

Professor Garba Sharubutu, the Executive Secretary, Agricultural Research Council of Nigeria (ARCN), said the approval of the TELA Maize variety in Nigeria is a critical milestone that confirms the potential of biotechnology in ensuring food and nutrition security, and improved livelihood of farming households in Africa.

Prof. Mustapha Abdullahi, Director-General, National Biotechnology Development Agency (NABDA) celebrated the release saying that, with the advent of TELA Maize, farmers will reduce the use of pesticides on maize to the bare minimum which is beneficial to humans, livestock, and environment.

Dr Sylvester Oikeh, the TELA Maize Project Manager celebrated the decision by Nigeria by calling on other countries in Africa to act for farmers.

“I am encouraged by this decision by the Federal Government of Nigeria that reflects their commitment to the needs of farmers.

“I congratulate the scientists for their hard work and dedication that has seen the product getting closer to farmers and look forward to other countries making similar decisions for the good of the farmer,” he said.

Mohammed Shosanya

The Oyo State Government has provided N1billion loan facility to the Oyo State Agricultural Credit corporation for farmers across the state.

The single digit interest loan facility would ensure more access at reasonable interest rates for farmers to expand their business and attract potential investors into the farming value chain.

Speaking during a media briefing recently, the Executive Chairman, Oyo State Agricultural Credit corporation, Alh. Taofeek Akeugbagold said that the present administration was committed to reforming the farming sector with notable programmes like the Sustainable Action for Economic Recovery (SAfER), among others.

He said this will ensure food security and cushion the effect of removal of fuel subsidy, by the federal government.

He said the loan facility will focus on the smally holder farmers, who bear the burden of feeding the teeming population.

“His Excellency, the Governor of Oyo State, Engr. Seyi Makinde has graciously approved the release of One (1) Billion Naira under the Sustainable Actions for Economic Recovery (SAFER) Programme which is to be disbursed to the Farmers in all the Thirty-three (33) Local Government Areas of the State so as to improve food security in the State”, he said.

“They account for about Ninety Per cent (90%) of the Farmers population and this responsible for about Ninety-Five Per cent (95%) of the aggregate food and fibre production in the State”, he said.

He said:”They are mostly residents of the State’s rural areas who are poorly served by basic public amenities.”

Akeugbagold said to access the loan, which will be disbursed and recouped by microfinance banks across the seven geopolitical zones in the state, each benefitting farmer must bring a guarantor, who is a civil servant on Grade level 7 and above.

He noted that the scheme would bring more stability to develop the agricultural sector and provide an enabling environment for the development of Oyo State farms and Agricultural Business.

Alh. Taofeek Akeugbagold said the loan process, which is apolitical, will be disbursed to farmers who are duly registered with the state Ministry of Agriculture.

In his remarks, the General Manager, Agric credit corporation, Mr. Emmanuel Ogundiran explained that, “The Oyo State government has recapitalized the corporation, we have received some funds and one of the mandates of the corporation is financing the agric value chain completely’’.

Ogundiran said;“The modality in giving out the loan is going to be exactly as enshrined in loan conditions of the Corporation. We have set rules for giving out loans and for this programme, we are making use of Microfinance Banks which are governed by the Central Bank of Nigeria, CBN, regulations and also regulated by the bank and financial institutions body’’.

He added, “The Corporation is funded by a system of revolving accounts which were built up over the years. Moreover, considering the realities of the present time accentuated by the removal of fuel subsidy, which has severally impoverished the peasantry, the loan support programme cannot have come at a better time.

He stated, “For ease of Administration, The Corporation has divided the entire State into Seven (7) Zones and intends to commence a sensitization campaign in all the aforementioned Zones very soon. The procedure for disbursement shall be unveiled at the subsequent Town-Hall meetings with the Farmers which will take place across the Seven (7) Zones which the State has been divided. ”

Mohammed Shosanya

Oyo state governor,Seyi Makinde,has expressed intent of his administration to collaborate with the International Institute of Tropical Agriculture (IITA) to ensure food security in the state.

He disclosed while receiving the Director-General of the IITA and CGIAR Regional Director, Continental Africa, Dr. Simeon Ehui and his team at the Courtesy Room of the Governor’s Office.

Appreciating the Institute for its collaborative efforts with the state since he took office in 2019, Makinde said he would partner with the Institute to address the challenges of food insecurity and that by so doing, the state would have solved the poverty problem by a half.

He maintained that his government is determined to tackle the challenge of food insecurity, saying: “As a country, we are going through challenges right now, in the economy, they have removed the lid on the exchange rates, and also PMS subsidy has been removed, so these have brought in quite a bit of hardship on the people.

“If you also look into the needs of the people, they say that if you take care of hunger then, poverty has been solved, so you cannot toy with the issue of food security. This means that leaders at this particular time in this country have to work three times as hard for anyone to even notice that they are doing something.

“With the IITA, if we focus on taking care of hunger through food security in our state, then we would have been able to solve half of the challenges ahead of us.

“So, I want to pledge that, even though it is a new DG, as a state we will continue to work together to tackle food security within our state and within the country and the continent. So, we will continue to partner with you,” the governor said.

He said he was looking forward to further profitable partnerships with the Institute, even as he added that the government would continue with the Start Them Early Programme (STEP), which trains secondary school students in Oyo state on agribusiness practices.

He said: “On behalf of the people of Oyo State, I welcome you back to your home and to your state. I like the idea that you have been here at IITA as a young researcher and now you are back as the DG after going around the world.

“What that means to us is that you have brought back all the knowledge you must have acquired and also you have the opportunity to do those things that, as a young researcher you had thought if I have this opportunity I can do this. Now, the opportunity is here so you have to file those things out.

“Personally also, let me use this opportunity to say thank you to the team at IITA.

“When we came in about four years ago, we sat down, of course I asked Dr Debo Akande, we have around Ibadan here almost six or seven research institutes, we have IITA, we have Forestry Research Institute, we have National Cereals Institute, Cocoa Research Institute, NIHORT, so I said what are we getting as a state from these research institutes? How have they benefitted us as a state?

“That interaction actually gave birth to STEP programme and it has been very successful and I am glad that the state government collaborated with IITA to focus on those youngsters.

“I would like to say that the programme will continue and now, we plan to extend it to other parts of the state. So, we will continue the programme.”

In his remarks,the IITA boss and CGIAR Regional Director, Continental Africa, Dr. Ehui, said the Institute is ready to work with the state government to improve the food security system in the state.

He said the food system in Africa is being challenged due to climate change,and assured the state of more support from the Institute, as it partners with it to deliver on their mandates.