News
Agriculture is the way to become wealthy but it can’t happen the way our parents practiced, IITA says.
DEVELOPING creative messages/methods that would attract young people to agriculture could help Africa to attract youth to agriculture and end the rising unemployment in the continent, says the Deputy Director General Partnership for Delivery, International Institute of Tropical Agriculture (IITA), Dr Kenton Dashiell.
In a message to journalists to mark the 2017 Media Day— part of activities to mark the 50th anniversary of IITA on 24 July 2017, Dr Dashiell said addressing the food insecurity question in Africa required collective efforts from the different institutions operating in Africa, stressing that “IITA cannot succeed in isolation.”
He underpinned the importance of creativity in packaging and dissemination of information on agricultural innovation in a way and manner that would attract youth into agriculture, and clear illusions about the sector.
Dashiell explained that for IITA, “our message is this—agriculture is the way to become wealthy. But this cannot happen if it is practiced the way our parents did. Fortunately, IITA has advanced technologies that if used could make farming very profitable and fun for farmers.”
The Media Day was a time for IITA to appreciate the invaluable contribution of the press to the Institute in the past 50 years. It was the first time the Institute would engage members of the press for a full day, showcasing to them its facilities, projects, and the Institute’s direction for the next 50 years.
As journalists toured the campus, stories of IITA research breakthroughs reverberated— from the fields where IITA defeated the Black Sigatoka disease on banana, cassava mealybug, and maize streak virus; to the labs where breakthroughs such as the use of Aflasafe is making maize and groundnuts safer to innovations where researchers are growing yam in the air and new technologies are being developed to control weeds in cassava.
Journalists were taken around the facilities to see research on maize, yam, cassava, cowpea, banana and plantain. IITA is also piloting the first ever Africa-wide youth in agribusiness initiative (IITA Youth Agripreneurs), which has received strong support from the African Development Bank and about 11 heads of African States.
Dr Kwesi Atta-Krah, Chair, IITA50 Organizing Committee and Director, Systems and Site Integration said that in the last 50 years, IITA had stood with the people by providing agricultural solutions that address the constraints to Africa’s agricultural development.
“And because we are truly people-centric, our goal in the last 50 years has always been to make living more fulfilling for even the poorest of the poor farming households. Even now, IITA will not stop. The Institute will continue to join hands with relevant stakeholders to do its best to transform agricultural practices to be able to transform Africa,” Dr Atta-Krah explained.
The Chair of the IITA50 Organizing Committee also announced that on 30 June 2017, a press conference will be held at IITA’s facilities in Lagos, after which IITA’s senior management team will proceed to ring the closing bell at the Nigerian Stock Exchange, officially announcing the Institute 50th anniversary to the public.
Established 1967, IITA is a leader in agricultural research in sub-Saharan Africa. Innovations from the Institute have translated to better nourishment, food security, and livelihood-generating activities for millions of Africans.
The IITA50 celebration received financial support from IITA staff and the Board of Trustees, Dangote Group, Bovas, and Inqaba. Other supporters include Punch and the Guardian Newspapers.
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.
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.
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.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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