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FG promises to make rice cheaper, sufficient before Christmas

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The National Food Security Council (NFSC), chaired by President Muhammadu Buhari, has assured that it will make rice available before the Christmas festivity.

Its Deputy Chairman, Governor Atiku Bagudu of Kebbi gave  this hint  in Makkah, Saudi Arabia.

He stated that the Council was aware of the current high prices of rice, assuring Nigerians that rice would be made available at a cheaper rate.

According to the governor, the government is also aware of the activities of some individuals and groups bent on frustrating the new rice policy.

“The good news is that there is a lot of production in the country. All the Millers in Nigeria have enough paddy and farmers are producing and the harvest is coming in strong.

“We believe in addition to market forces, there are some people bent on manipulating the situation in order to exploit bigger revenue, bigger profits and some may even be doing so for the wrong reason.

”They want to truncate policy which is helping the Nigerian economy; which is helping Nigerian millers; which is helping the Nigerian farmers and the Nigerian population.

“We are taking steps to ensure that more rice is taken to markets where shortages can easily be created.

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“There is enough production in the country and the National Food Security Council is focused on how to ensure that availability is restored all across the country so that prices will come down reflective of the cost of production,’’ he said.

Reacting to  reported loss of about N1 billion by Onion farmers in Kebbi State, Bagudu said the government would always respond to farmers’ predicaments promptly.

The governor, according to information scooped from NAN,  however, said that the assessment of the total loss by the farmers had not been completed by relevant agencies.

He disclosed that the federal government had approved N23billion for distribution to States affected by flood disaster this year.

“We have always responded to farmers’ issues or any trade group that has a misfortune, both the State and the Federal Government has been very active in helping.

“You may recall that recently, Mr President approved about N23 billion for states affected by flood which Kebbi is one of them, and this is in addition to our own resources that we mobilise to support our farmers.

“This year’s rainy season is unusual, as of last week there was rain and it’s unusual.

”For the onion farmers they have calculated that the rain will stop by September because when onion is growing there is a point at which it does not desire rainfall, now we have rainfall.

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“I’m not sure of the N1 billion lost in terms of quantum because we have not done the assessment but we are always willing and ready to support all our producers especially when they are faced with unforeseen circumstances like this,’’ he said.

 

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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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