News
Agric Credit Fund: CBN Releases N130bn To Farmers Yearly

The Central Bank of Nigeria (CBN) has said that it has made a yearly release of over N130billion as interest drawback to farmers under the Agricultural Credit Guarantee Scheme Fund (ACGSF) since 1979.
Head, Development Finance Office (DFO), Mr. Oruyeigha Stanley, disclosed this in Port Harcourt, yesterday, at the 2021 ACGSF Best Farmers of the Year and Participate Financial Institution (PFI) annual award in Port Harcourt.
He said the scheme was initiated by the bank to encourage farmers across the country.
“What we have released or given yearly from 1979, what we have given as interest drawback paid to farmers that were part of the scheme from 1978.
“The cumulative figure each year we do and we add to it that figure. That is the one that I told you is about N130billion under the ACGSF cumulatively. So, next year will be added to this one”, he said.
Stanley also said that over one million farmers had benefitted from the scheme, adding that the programme is not only in Rivers State but across the nation.
He said the event was to honour farmers who meet up the expectation in the period under review.
He commended Lapo Microfinance Bank for its partnership with the CBN in the implementation of the scheme.
According to him, the target of the CBN is to see that 1,000 farmers or more benefit from the scheme in Rivers State.
The DFO Head also urged the management of the Rivers Micro Finance Agency (RIMA) to get involved in the programme with a view to implementing the poverty alleviation programme of the state government.
Also speaking, Permanent Secretary, Rivers State Ministry of Agriculture, Mr. Maurice Ogolo, promised that the state would key into the programme next year, adding that Rivers State is doing well as far as agriculture was concerned.
Dignitaries at the event include the Port Harcourt branch controller of the CBN, Oke Chuks Godfrey, represented by Head, Branch Support Office, CBN, George Tom George.
Awardees at the event were, Mr. Alia Abazua Ijajico, who emerged as the Best Farmer of the Year 2021; Mrs. Nwator Ngozi, first runner-up; while Okoro Samuel emerged second runner-up.
The participating financial institution award went to Lapo Microfinance Bank.
By: John Bibor & Oribim Ibama
News
CAS lauds troops for courage, sacrifices against terrorists

Chief of the Air Staff (CAS), Air Marshal Hasan Abubakar, had lauded the courage and commitment of troops of the Nigerian Air Force (NAF) to the ongoing counter-insurgency operations in North East Nigeria.
Abubakar gave the commendation during a morale-boosting visit to the Air Component of Operation HADIN KAI in Maiduguri, Borno.
This is contained in a statement by the Director, Public Relations and Information, NAF, Air Commodore Ehimen Ejodame, yesterday, in Abuja.
The CAS said their sacrifices were etched in the history of the nation, and in the hearts of millions of Nigerians who sleep safer because of the troops’ vigilance.
He emphasised that their bravery and resilience in the face of adversity have not gone unnoticed, saying his visit underscored the vital role airpower plays in neutralising threats and protecting communities.
Abubakar pledged continued investment in cutting-edge technology to empower frontline units.
According to him, the NAF remains steadfast in its mission, guided by leadership, strengthened by unity, and driven by the selfless service of its personnel.
The visit comes at a critical moment, reinforcing the importance of public support for military operations and spotlighting the human element at the heart of national defence.
News
Nigeria Ranks Top In Africa’s Soft Drinks Market

Nigeria’s soft drinks and beverage market continues to show strong growth potential, making it the leading consumer of soft drinks in Sub-Saharan Africa, according to the German Mechanical Engineering Industry Association.
A statement by the VDMA disclosed during a press conference held in Lagos ahead of drinktec 2025, that Nigeria consumed over 53 billion litres of soft drinks in 2024, placing it well ahead of other African countries such as Ghana and South Africa.
Despite challenges such as inflation and a weakening naira, Nigeria’s growing population, rising urbanisation, and expanding middle class are key factors driving demand in the beverage sector.
Bottled water led the segment with 48.7 billion litres sold in 2024, a figure projected to rise by 27% to 62 billion litres by 2028.
Carbonated soft drinks followed with 3.4 billion litres, expected to reach 4.4 billion litres by 2028, while energy drinks are forecasted to grow by 30% over the same period. Juices, though relatively small, are also on an upward trajectory.
“The Nigerian beverage market is expanding quickly due to increasing accessibility and affordability,” VDMA stated, citing data from Euromonitor International.
Set to take place in Munich from 15 to 19 September 2025, drinktec is the world’s leading trade fair for the beverage and liquid food industry.
VDMA, a key exhibitor and technical partner for the event, revealed that Nigerian participation is expected to be strong, especially as the country anticipates economic recovery.
News
Soyinka Slams NBC Over Ban On Eedris Abdulkareem’s Protest Song

Nobel Laureate, Prof. Wole Soyinka, has condemned the recent ban placed on a song by Nigerian musician, Eedris Abdulkareem, describing the development as a return to the culture of censorship and a threat to the right to free expression.
Abdulkareem had waxed a song titled “Tell Your Papa” which criticized President Bola Tinubu’s administration.
In a statement issued from New York University, Abu Dhabi, yesterday, Soyinka criticised the action and its wider implications, saying it echoed past attempts to stifle artistic and socio-political commentary in Nigeria.
“Courtesy of an artist operating in a different genre – the cartoon – who sent me his recent graphic comment on the event, I learnt recently of a return to the culture of censorship with the banning of the product of a music artist, Eedris Abdulkareem,” Soyinka said in the piece posted on PM news.
He expressed irony in suggesting that the ban did not go far enough, stating, “It is not only the allegedly offensive record that should be banned – the musician himself should be proscribed. Next, PMAN, or whatever musical association of which Abdulkareem is member, should also go under the hammer.”
Soyinka noted that he had not listened to the banned song but stressed that the issue transcends content and concerns a fundamental democratic principle.
“It cannot be flouted. That, surely is basic. This is why I feel that we should look on the bright side of any picture and thus recommend the Aleshinloye cartoon – and others in allied vein – as an easy-to-apprehend, easy-to-digest summation of the wisdom of attempting to stifle unpalatable works of art or socio-political commentary,” he said.
He also pointed out the irony that censorship often benefits the targeted artist.
The ban is a boost to the artist’s nest egg, thanks to free governmental promotion. Mr. Abdulkareem must be currently warbling his merry way all the way to the bank. I envy him,” he added.
The literary icon warned that such censorship was not only counterproductive but also dangerous to democratic development.
“We have been through this before, over and over again, ad nauseum. We know where it all ends. It is boring, time-wasting, diversionary but most essential of all, subversive of all seizures of the fundamental right of free expression,” Soyinka said.
He warned that the ban creates “a permissive atmosphere of trickle-down power,” where state authorities feel emboldened to clamp down on dissent.
Soyinka’s statement also touched on broader issues of impunity and mob violence in Nigeria, lamenting the recent lynching of 19 youths in Edo State.
“My heart goes out to friends, colleagues and families of victims and traumatised survivors of this senseless slaughter. Our thirst for justice must remain unslaked,” he said.
Referencing the 2022 killing of Deborah Samuel in Sokoto, Soyinka criticised the culture of impunity, saying, “Identified killers were set free to gloat, and paste their photos on the Social Media… in full daylight glare, in the presence of both citizen voyeurs and security forces.”
He called for accountability, warning that “as long as the culture of impunity is given the sheerest strain of legitimacy in any given cause, such gruesome assaults on our common humanity will continue to prevail.”
Soyinka concluded by urging the relevant regulatory body to reverse what he described as a “petulant irrationality,” warning that any government that only tolerates praise-singers “has already commenced a downhill slide into the abyss.”
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