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NASRDA Harps On Space Technology For Precision Agriculture
The National Space Research and Development Agency (NASRDA) says it is engaging space science technology to boost agricultural products for food security in the country.
Dr Rakiya Babamaaji, the Head, Natural Resources Management Division of NASRDA, disclosed this on Monday in Abuja during an interview with newsmen.
Babamaaji explained that space science technology could be deployed into agriculture through the application of Geospatial technology that involved Remote Sensing and Geographic Information System application.
She said that geospatial technology could be used to map and monitor the location of natural resources, take inventory of vegetation and for smart agriculture and water resources management among others.
She further said the Agency had in May, commenced a Space-Based Smart Agriculture for Food Security in Nigeria.
Babamaaji said that the programme was in line with government’s mandate to ensure food security and enable the country achieve Sustainable Development Goal Two, aimed at ending hunger and increasing availability of food.
“We are trying to use space technology in agriculture and we have a programme called Space Base Smart Agriculture for Food Security in Nigeria which will address food availability.
“Under the programme, there is the Crop Watch project, a platform used to monitor agricultural activities across the country using geospatial technology.
“Under this project, we are going to gather all the spatial data available with restrictions to agriculture, so that farmers can know what is happening in their farms, from the cropping to monitoring the farmland.
“The project will provide the farmers with the climate data, letting them know when to plant, when to apply fertilizer, different soil type in terms of fertility,’’ she said.
“We want to achieve this by engaging farmers on their phones, use of jingles in the radio which could possibly be transmitted in the three major languages and English to reach rural farmers.”
The official said they were working with relevant stakeholders in the country, including the China Academy of Science and China Remote Sensing Centre as technical partners towards achieving the Crop Watch project.
Babamaaji also said the programme would be addressing the Value Supply Chain, whereby challenges faced by farmers from the beginning of the farming season to harvest time would be reviewed.
“We are trying to look at the challenges that prevent them from achieving maximum production in their farming activities and we have chosen a farm in Kuje and in Nasarawa to start this assessment.’’
Babamaaji, however, decried the dearth of data, funding to support the project and lack of awareness among farmers on the importance of space technology to farming.
She recalled that the management of the agency has been advocating for new and advanced satellites that would aid provision of data and help to plan better towards enhanced precision agriculture.
“Most of the farmers don’t know the importance of using satellite or geospatial technology in agriculture, so there is need for us to create more awareness on that.’’
She said that the agency was taking seriously the deployment of space science technology in other sectors to advance good governance and the socio-economic development of the nation.
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter