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10,000 farmers to benefit from Oyo/Dangote N9bn partnership.

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THE Oyo State Governor, Senator Abiola Ajimobi on Thursday disclosed that over 10,000 farmers will benefit from Oyo State Government/Dangote Group N9bn rice production partnership.

The governor disclosed this at the official launch of WAMCO Milk Collection Centre, Saki, stressing that the milk collection Centre is the fifth of its kind and has a total milk collection capacity of about 40,000 liters per day, with an average daily raw milk intake of approximately 6,000 liters and a peak of more than 20,000 liters.

Ajimobi further explained that a strong delegation from the state  comprising of the Commissioners of Agriculture, Lands, Special Adviser, Projects and other senior government officials had a fruitful meeting with the Dangote Group with the Chairman of the Group, Alhaji Aliko Dangote in attendance at Dangote Corporate Headquarters, Lagos on Thursday 1st June, 2017.

According to Governor Ajimobi, “A huge outcome of the meeting is Dangote Group’s decision to invest over N9billion to establish Nigeria’s biggest rice processing facility in Oyo  State. This will be a very viable project because of the rich Rice belt in the Oke Ogun area of the state.

“Dangote’s 16ton/hr Integrated Rice Mill will require paddy from a minimum of  20,000 Ha cultivated land. Dangote Rice Outgrowership Scheme under the Oyo State Agric Initiative  will empower thousands of smallholder rice farmers and consequently bring Oyo State to the frontier of rice production in Nigeria.

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“There is an added advantage of the plant other than rice processing. The plant will also utilize the waste from rice husk to generate power which will ultimately provide power to the national grid. To commence the activities to bring this laudable project to fruition according to the agreed timeline, a team from Dangote Rice Limited will be visiting the state in the coming week,” he stressed.

Ajimobi also noted that at least a minimum of 10,000 farmers will benefit from this Oyo/Dangote partnership, within the first 18 months of the project, adding that there would also be an increase in current market share of locally produced milk as well as creation of employable labor and expansion of investment opportunities in the state.

In his goodwill message at the occasion, the Minister of Agriculture and Rural Development, Chief Audu Ogbe said that the Dairy Development Programmes (DDP) under the memorandum of understanding signed between the Federal Government and WAMCO in 2011 and renewed in 2016 has encouraged Sedentarization of the Nomadic pastoralists thus reducing conflicts between farmers and the Fulani herdsmen in Oyo State.

Chief Ogbe, who was represented by Dr John Taiwo, stressed that the DDP has facilitated milk processing in Iseyin, Alaga, Fasola, Maya and the inaugurated Saki in Centre, saying that this also guaranteed farm gate price for raw milk in the areas.

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In his address, the Chairman, WAMCO Nigeria Plc, Chief Moyo Ajekigbe reiterated that a key aspect of its long term strategy of providing affordable nutrition is the DDP set up in Oyo State, explaining that the company works with local dairy farmers (including over 900 women) to grow local dairy.

Chief Ajekigbe expressed the readiness of WAMCO to share its technological know-how towards creating direct and indirect jobs for the people of the state, charging that farmers should organize themselves in clusters in order to become economic influencers through accessing loans and other financial benefits.

In a like manner, while speaking at the occasion, the Managing Director of WAMCO stated that the DPP program had created a model which can be easily be replicated nationwide.

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Ex-NCC Chair, Akande extols Senator Sarafadeen Ali on his 61st birthday

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Former Chairman of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande, has extended warm felicitations to Barrister Sarafadeen Ali, the Senator representing Oyo South Senatorial district, on the occasion of his 61st birthday.

In a statement released on Saturday in Ibadan, the Oyo state capital, on Saturday, Akande lauded the lawmaker, describing him as a luminary whose life has been marked by distinguished service to the nation.

“Today, I join the world in celebrating you on your special day, as you mark 61 years of God’s abundant love and glorious impact on humanity,” the former NCC gaffer expressed.

He added, “I wish you many more years of God’s grace in your life.”

 

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Labour union protests Heritage Bank’s dismissal of 1,000 workers

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The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.

The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.

Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.

He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.

“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.

 

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Nigeria not using foreign reserves to defend naira, says CBN governor

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CBN governor

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.

Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.

While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.

Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.

He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”

Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.

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He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”

 

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