Agriculture
Experts List Measures To Check Inflation
Some financial experts yesterday advised the Central Bank of Nigeria (CBN) to introduce more measures to check the rising rate of inflation in the country.
Speaking to The Tide source in separate interviews in Lagos, the experts said that the current high inflation rate could retard the growth of the economy.
The Tide reports that the inflation rate, which stood at 9.4 per cent in August, has risen to 10.3 per cent.
Funds Manager at Regency Assets Management Ltd., Mr Akin Alabi, blamed the rising inflation rate on high public expenditure on capital projects. .
He said that all manners of costly goods were being imported into the country, “which means a direct importation of higher prices into Nigeria”.
Alabi suggested that a ban should be placed on the importation of certain goods to check inflation.
“A combination of reduction in government expenditure and ban on importation of certain goods may prove effective measure for the economy,” he said.
Alabi also suggested that price control measures on certain commodities should be adopted.
Dr. Kazeem Bello, a Lecturer in the Department of Economics at University of Ibadan, attributed the rise in inflation rate to shortage of some essential goods and services, especially agricultural products.
Bello said that government had left the development of the agricultural sector to rural dwellers who practised subsistence farming.
“The shortage of commodities has been one of the most fundamental causes of inflation in Nigeria,” he said
Bello advised government to address the shortage of these products, saying that increase in the production of these goods and services would be the most effective means of reducing inflation.
“Increase in the supply of these products will naturally force prices down,” he said.
Bello said that another measure would be the over-hauling of the entire distribution network and suggested that any one found hoarding goods or profiteering should be prosecuted to serve as deterrent to others.
The General Manager of True Bone Microfinance Bank, Mr Wole Olowu said that the persistent exchange rate depreciation had also aggravated the inflationary situation because of the volume of imports.
He said that domestic industries depended primarily on imported inputs whose prices had risen overtime.
Olowu said that the diversification of the economic base through investment into non-oil sector would curb inflation and ensure
Agriculture
FG, Ogun Distribute Inputs To 2,400 Farmers
Federal Government and the Ogun State Government, on Wednesday, distributed farm inputs to farmers as part of effort to address food security challenge.
The State Director, Federal Ministry of Agriculture and Food Security, Dr. Toyin Ayo-Ajayi, during the flag-off ceremony of Inputs Redemption Under The National Agricultural Growth Scheme-Agro Pocket (NAGS-AP), in Ogun State, disclosed that beneficiaries of the gesture were primarily rice, maize and cassava farmers across the State.
Ayo-Ajayi commended the Ogun State Government for partnering with the government at the centre for the effort in supporting farmers with inputs that would bring about yieldings for local consumption and likely exportation.
She noted that government is supporting rice, cassava and maize farmers with inputs worth N212,000; N189,000 and N186,000 respectively.
The Permanent Secretary in the State Ministry of Agriculture, Mrs Kehinde Jokotoye, who represented the Commissioner in the Ministry, Bolu Owotomo, stated that traditional farmers are critical in food production, hence the need to encourage and support them with inputs that would bring about desired results during harvesting.
Owotomo said: “Let us make good use of this opportunity, so that the success of this phase will make farmers benefit more from the state and federal governments of Nigeria.”
Earlier, State Coordinator, Federal Ministry of Agriculture and Food Security, Dr. Oluwatoyin Ayo-Ajayi, appreciated the present administration for partnering with the federal government for the initiative, adding that the programme is designed to support farmers at the grassroots level in cassava, rice and maize with inputs such as, seeds, pesticides, herbicides and fertilizers, to boost their production and enhance their livelihood.
Agriculture
Niger Allocates 10,000 Hectares For Smallholder Farmers
The Niger State Government has mapped out 10,000 hectares of farmland in Gbapo Community of Katcha Local Government Area of the State for smallholder farmers to benefit from the state government’s agricultural intervention programme.
Two thousand out of the 10,000 holders of the farmlands have already received inputs.
At a flag-off ceremony in Yinti Village, the facilitator of the programme, Shinkafan Nupe, Malam Idris Usman Makanta, assured the farmers of increased distributions to the mapped-out ten thousand (10,000) farmlands if farmers respond positively.
He explained that the commencement of the two thousand is to measure the positive response of farmers before obtaining full-scale support.
Malam Makanta stated that this initiative aligns with the farmers’ initial commitment through Niger Foods, whose mission is primarily geared towards establishing efficient and profitable agricultural businesses to support the present administration of Governor Mohammed Umaru Bago’s quest to boost agricultural productivity in the state.
He also commended Niger Foods for their steadfastness and resilience in the effective implementation of the input financing scheme.
Makanta reiterated the commitment of the State Governor in making judicious use of the arable land in the state.
Shinkafan Nupe, therefore, urged the farmers to support the Governor by using the inputs wisely so that the dream can be actualised.
Agriculture
GO-CARES: Gombe Empowers 573,429 Farmers, Entrepreneurs
The Gombe State Government has empowered a total of 573,429 farmers and entrepreneurs under the 4th phase of the GO-CARES programme.
The programme was officially flagged off by Governor Inuwa Yahaya in another major step towards alleviating poverty and supporting the state’s vulnerable populations.
The Governor, while inaugurating the disbursement in Akko Community of Akko Local Government Area, restated his administration’s commitment to the welfare of vulnerable citizens in the state.
He was represented by the Commissioner for Budget and Economic Planning, Salihu Baba Alkali, who is also the Chairman of the Steering Committee on GO- CARES implementation.
“The 4th phase of GO-CARES will directly and indirectly impact a total of 573,429 citizens across the state. Of these, 152,429 individuals will benefit directly through cash transfers, livelihood grants, agricultural inputs, and operational grants to small businesses”, he stated.
The Governor added that, “421,000 people will be indirect beneficiaries through infrastructural projects such as classroom blocks, healthcare facilities, WASH services, and rural infrastructure projects like culverts and drainages”.
Yahaya, reaffirmed his commitment to ensuring that the state’s most vulnerable citizens are not left behind in the state’s development.
According to him, “Earlier this year, on June 25, 2024, we flagged off the distribution of improved seedlings, fertilizers, and herbicides to less privileged farmers in Malam Sidi, Kwami Local Government Area, signaling the commencement of the 4th phase implementation of GO-CARES under Result Area 2”.
The Governor reiterated that these initiatives have had a significant impact on the livelihoods of beneficiaries and the overall agricultural sector.
He explained that, “Today’s ceremony marked the simultaneous launch of activities under all three GO-CARES Result Areas for the 4th phase. These areas include: State Cash Transfer Grants: 2,500 direct beneficiaries; Labour Intensive Public Works: 2,700 direct beneficiaries; Livelihood Grants: 10,000 direct beneficiaries; and Basic Services: 405,000 indirect beneficiaries”.
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