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Makinde expresses readiness to partner with agribusiness investors

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Governor Seyi Makinde of Oyo State on Tuesday declared his administration’s  readiness  to partner with and encourage investors in the agriculture sector in order to expand the economy of the state as well as surmount challenges facing their operations.

The governor made this known during a visit to inspect the abandoned 10,000 metric-tons silo project embarked upon by the immediate past administration and the Ajila Value Adding Ventures Limited in Aawe, in Oyo town.

In the governor’s entourage were the Chief of Staff, Chief Bisi Ilaka; the Head of Service, Alhaja Amidat Agboola; and the Executive Adviser to the Governor on Agribusiness, Dr. Debo Akande, among others.

Contained in a statement signed by the Governor’s Chief Press Secretary, Mr. Taiwo Adisa,  Makinde while speaking at the Ajila Value Adding Farms, Aawe, where he was conducted round the poultry, hatchery, egg powder processing plant and palm trees plantation of the farms, described the facility as world-class.

The Governor, who was received by the Alaawe of Aawe, Oba  Cornelius Abiola Taiwo; Chairman of Ajila Farms, Mr Philip Olutayo; Managing Director of the farm, Mr Dotun Odekeye; president of Bond Group of Companies, Chief Debo Omotoso, and a foremost poultry farmer, Chief Lai Amoje, expressed his joy at the developments he witnessed at the Ajila Farms.

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Governor Makinde  maintained that it was the intention of his government to encourage Ajila Farms and other investors in the agriculture sector by addressing their challenges and, where necessary, providing incentives to help them expand their operations so that they could provide employment for the teeming youths of the state.

“Just as we have said in our manifesto, we want to drive our economy through agriculture and agriculture value chain. Most of the things I have seen and heard here are music to my ears: they want to process eggshells into egg powder and export it; they want to generate foreign exchange for the state and that is consistent with our idea of expanding the economy.

“We will encourage them. Some of them may have challenges; security challenges, some of them may have challenges with access to the market. We will look at their challenges and make sure that we solve them. And we may even give incentives to some of them to expand their operations and employ our youths,” he  said.

The governor, while speaking at the site of the abandoned silo project, expressed displeasure at the pace of work, which he noted should have been completed within 10 months, making it clear that his government was ready to explore all options to make sure the project is delivered so that farmers and the state could derive value from it.

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“We have had court cases over the project, so we intend to solve all these challenges because the state has expended so much money on that project and we have not been able to get any value from it. So, if we will need to spend a little more to make sure that we derive value from it, we will do it.

“The case is in arbitration right now, but I will encourage the contractor to come to sit down with us so that we can explore options of out of court settlement. We are not arrogant about this thing. This is a project that should bring value to our farmers and to the economy of the state and that is what we set out to achieve”, he stressed.

Earlier, Phillips, chairman of the company, stated that the farm was focused on agriculture value chain and backward integration to provide direct and indirect employment for youths and other business concerns.

He maintained that the company was ready to partner with the Oyo State Government to boost agricultural development in the state, explaining that “our business is focused on agricultural value chain and backward integration, providing direct and indirect employment for youths, growing numerous other business concerns as the hub to ensure sustainable development and other indirect employment for our youths, vendors, suppliers, and contractors”.

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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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