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A double-digit investment in the agricultural sector is needed to transform agriculture, says IITA’s Sanginga

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A double-digit investment in the agricultural sector backed by a vibrant rural infrastructural network will help states in Nigeria to accelerate the transformation of agriculture, says Dr Nteranya Sanginga, Director General of the International Institute of Tropical Agriculture (IITA).

“No matter our good intentions, we will not see a transformation in agriculture if we continue to invest less than 10 percent of our budget on agriculture,” Dr Sanginga said during a courtesy visit to the Governor of Oyo State, Engr. Seyi Makinde, in Ibadan.

In 2003, African heads of state in Maputo made a commitment to invest at least 10 percent of their annual budgets in agriculture. Sixteen years after the declaration, only a few countries have implemented that declaration.

“One of the countries that has fulfilled the commitment is Ethiopia…Ethiopia is today investing more than 10 percent and that country is witnessing a rapid transformation in agriculture,” Dr Sanginga explained.

Making reference to the Oyo State Agricultural Policy framework, the IITA boss said that Oyo state’s investment in agriculture had nosedived from about 7 percent to 2 percent from 1995 to 2017, adding that the new administration needs to reverse the trend.

On rural infrastructure, Dr Sanginga said the government should pay close attention to rehabilitation of rural roads (feeder roads) to help the transportation of agricultural products from the farm to the markets.

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He decried the deterioration of infrastructure in several farm settlements in Oyo state and urged the government to tackle the trend.

Dr Sanginga also called on the government to seek ways to involve the youths in agriculture, stressing that inclusiveness was imperative for sustainability in the agricultural development agenda of the state.

In his response, Governor Makinde commended the IITA DG for the courtesy visit and pledged the commitment of the state to work with IITA to achieve agricultural transformation.

The governor noted that his administration had identified four pillars: education, rural infrastructure, economic development (agriculture), and security to help bring the dividends of democracy to the people of Oyo state.

He noted that for the state to attain economic development, agriculture must be transformed.

“This is because most of our people depend on agriculture for their livelihoods. Besides, through agricultural transformation, we will be able to provide the needed jobs for our youths…the jobs we promised during the election campaigns,” he added.

On infrastructure, the governor said work on one of the major agricultural roads (Moniya to Iseyin) would commence soon. On completion, the road would ease the movement of farm produce to the market. He also said that discussions were in top gear with the federal government to rehabilitate the Oyo town-Iseyin road.

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On the courtesy visit to the Governor were Drs Kenton Dashiell, IITA Deputy Director General (Partnerships for Delivery); Alfred Dixon, Director for Development & Delivery; Tahirou Abdoulaye, Impact Economist; Godwin Atser, Digital Extension & Advisory Services Specialist; Toyin Oke, Manager, Resource Mobilization, Protocol and External Liaison; Oludamilare Odusanya and Adetola Adenmosun, IITA Youth Agripreneurs.

The meeting with the Governor was facilitated by Debo Akande, Executive Adviser to the Governor onAgribusiness.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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