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Mixed Reactions Trail Oyo Speaker’s  ‘Hasty Approval’ Of N7.6b CBN Loan

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Reactions have continued to trail the action of the Oyo State House of Assembly Speaker, Hon Adebo Ogundoyin, as lawmakers expressed dismay against his decision to overrule their submissions and further approve the N7.6b  CBN loan requested by Governor Seyi Makinde to upgrade farm settlements in Akufo and Eruwa areas of the state to farm estates.

The lawmakers  are of the opinion  that there is a need for Governor Makinde to spread the scope and usage of the agricultural loan to other zones in the state and not limit it to Akufo and Eruwa farm settlements alone.

 

The governor, had in a letter sent to the State House of Assembly urged the lawmakers to allow him access Central Bank of Nigeria (CBN) loan to develop Akufo and Eruwa farm settlements into farm estates.

The letter, which was presented on the floor  of the assembly during Thursday’s plenary informed that the proposed farm estates are to serve as pilot projects which will be used to develop other farm settlements across the state.

Other farm settlements in the state, which were not covered in the CBN loan facility as requested by Governor Makinde included; farm settlements in Ipapo in Oke-Ogun geo-politcal zone, Fashola farm settlement in Ilora Afijio local government Area, Iresaadu, Ijaiye, and Lalupon in Lagelu Local government area.

This approval makes it the second loan so far approved for Governor Seyi Makinde by the lawmakers within five months having earlier endorsed a N10 billion infrastructure loan request in July.

It was reliably gathered that the two farm settlements are housed  in Ido/Ibarapa East Federal constituency where the Speaker, Ogundoyin  hailed from.

However, not satisfied with the choice of the two farm settlements to enjoy the loan facility out of the many others in the state, the lawmakers insisted that the loan should be spread across other farm settlements.

In their separate reactions, Hon. Isiaka Tunde representing Oyo East/ Oyo West State Constituency and his counterpart from Iseyin/Itesiwaju, Hon. Dele Adeola expressed their dissatisfaction on concentration on the loan, challenging the rationale for selecting two farm settlements within only one Federal constituency (Ibarapa East/Iddo). They maintained that the loan be spread to other parts of the state.

Also corroborating the lawmakers’ position, the Deputy Speaker, Mr Abiodun Fadeyi and the Minority Leader, Mr Asimiyu Alarape further called for the extension of the loan facility to other farm settlements in the state .

 

The duo, however urged the  executive arm of government  to ensure judicious use of the agricultural loan to enable it achieve the purpose for which it is sought, while other lawmakers, also enjoined Governor Makinde to spread the loan facility to take care of other areas.

 

Despite heated debate by members on the issue, the Speaker, Hon. Ogundoyin finally ruled that the loan would be approved as presented by Governor Makinde.

“Other states have been accessing this agriculture loan facility, especially in the North. But we thank God the state government is ready to work with the federal government and provide counterpart funding to show seriousness in accessing this loan.

“We know that the CBN and federal government are interested in agricultural development and this is a blessing to Oyo state. Moreover, our own goal is to develop the state through agriculture. If we decide to spread the money as requested by some lawmakers, we might end up not achieving anything and have abandoned projects.

“These two projects can be the engine room for the other projects. We are taking the projects one at a time. If we can achieve two projects out of seven then for the remaining five, we do another two next year and thereafter, then we will be able to make progress”, Ogundoyin responded.

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IGP Disu seeks NIPR partnership to boost public trust in police

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NIPR President, Dr Ike Neliaku, in a handshake with the Inspector-General of Police, Olatunji Disu, at the Force Headquarters in Abuja on Tuesday.

The Inspector-General of Police, IGP Olatunji Disu, has called for stronger collaboration between the Nigeria Police Force (NPF) and the Nigerian Institute of Public Relations (NIPR) to enhance public confidence in the police.

The IGP made the call on Tuesday when he received a delegation of the NIPR, led by its President and Chairman of Council, Dr Ike Neliaku, on a courtesy visit to the Force Headquarters, Abuja.

According to a statement issued by the Force Public Relations Officer, CSP Ani Iniedu, the IGP emphasised the importance of effective communication, professionalism, transparency and fairness in strengthening the relationship between the police and members of the public.

Disu noted that every police officer was an image-maker of the Force, adding that the conduct of personnel in their daily interactions with citizens had a direct impact on public perception of the police.

He said the Nigeria Police Force (NPF) remained committed to policing by consent and promoting a service-oriented policing culture built on professionalism, empathy, accountability and respect for human rights.

The IGP also sought the support of the NIPR in providing specialised communication training for police personnel and developing a coherent communication framework that would effectively communicate the sacrifices and contributions of police officers to public safety and national security.

Earlier, Neliaku commended the IGP for his professional accomplishments and briefed him on Nigeria’s hosting of the 2026 World Public Relations Forum and Africa Charter Forum.

The international event is scheduled to hold at the Transcorp Hilton, Abuja, and is expected to attract more than 3,000 delegates from 126 member countries of the Global Alliance for Public Relations.

The NIPR delegation also sought the support of the Nigeria Police Force in security planning and coverage for the event.

Neliaku further invited the IGP to serve as a keynote speaker at the forum and encouraged police officers to register and participate as delegates.

The delegation included the Secretary-General of the African Public Relations Association, Dr Omoniyi Ibietan; Dr Suleiman Haruna; Mrs Maryam Sanusi; Mrs Olubunmi Badejo; Commandant Olusola Odumosu; Chief Uzoma Oyegbadu; Chief Moji Makanjuola; Mr Stanley Ogadigo and other members of the institute.

Iniedu said the meeting reflected the commitment of the  Police Force to building productive partnerships with professional bodies and other stakeholders to strengthen public trust, enhance public safety and promote national security.

 

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Inflation drops marginally to 15.39% — NBS

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Nigeria’s headline inflation rate fell marginally to 15.39 per cent in August 2026 from 15.43 per cent in July, according to the National Bureau of Statistics.

The NBS disclosed this in its Consumer Price Index released on Tuesday, saying the latest figure represented a 0.04 percentage point decline from the previous month.

The statistics agency, however, reported a sharper decline in the month-on-month inflation rate, which dropped to 0.71 per cent in August from 1.57 per cent in July.

The month-on-month rate, according to the bureau, declined by 0.86 percentage points compared with the July figure.

The NBS explained that the development indicated that the rate at which the average price level increased in August was slower than that recorded in July.

The latest data also showed a significant moderation in food inflation, which stood at 19.57 per cent year-on-year in August.

The figure was substantially lower than the 25.30 per cent recorded in August 2025.

On a month-on-month basis, food inflation fell to 1.02 per cent in August from 5.56 per cent in July, representing a decline of 4.55 percentage points.

The NBS said the development showed that food prices were still rising, but at a slower rate during the month under review.

It attributed the decline largely to changes in the average prices of a number of food items, including palm oil, carrots, pepper, onions, cassava flour, beef, yam flour, water yam, melon (egusi), fresh ginger, fresh fish, Irish potatoes, wheat grain, frozen chicken and turkey meat.

At the state level, Adamawa recorded the highest year-on-year food inflation rate in August at 38.85 per cent.

It was followed by Zamfara with 37.96 per cent and Bayelsa with 36.20 per cent.

On the other hand, Borno recorded the lowest year-on-year food inflation rate at -4.04 per cent, followed by Jigawa at -0.23 per cent and Kebbi at 3.47 per cent.

The month-on-month figures presented a different picture, with Katsina recording the highest food inflation rate at 9.48 per cent.

Rivers and Osun followed with 8.86 per cent and 8.32 per cent respectively.

Taraba recorded the lowest month-on-month food inflation rate at -12.42 per cent, followed by Borno at -12.15 per cent and Bauchi at -8.88 per cent.

The latest figures indicate a moderation in the pace of price increases, particularly in the food sector, although the NBS data show that consumers continue to face varying price pressures across the states.

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Nigeria’s Oil Output Rises to 1.68m Barrels Per Day

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Nigeria’s crude oil and condensate production rose to 1.68 million barrels per day in August 2026, representing a 0.4 per cent increase from the 1.67 million barrels per day recorded in July.

The Nigerian Upstream Petroleum Regulatory Commission disclosed this in its latest production report released on Sunday.

Excluding condensate, the country produced an average of 1,500,190 barrels of crude oil per day in August, allowing Nigeria to meet its Organisation of Petroleum Exporting Countries quota for the fourth consecutive month.

Daily combined crude oil and condensate production ranged between 1.64 million barrels and 1.71 million barrels during the month under review.

A breakdown of production by terminals showed that Bonny Terminal recorded the highest output at 320.04 thousand barrels per day, followed by Forcados Terminal with 317.40 thousand barrels per day.

Qua Iboe Terminal recorded an average production of 171.72 thousand barrels per day, while Escravos Oil Terminal posted 131.71 thousand barrels per day.

Bonga ranked fifth among the highest-producing terminals, with an average output of 92.50 thousand barrels per day.

The NUPRC attributed the modest improvement in August production largely to the resolution of operational challenges involving the Single Buoy Mooring at the Erha field.

The commission said the challenges had adversely affected production in the preceding month.

“The restoration of normal evacuation and production operations at the asset contributed positively to overall production volumes during the period under review,” the commission’s spokesperson, Eniola Akinkuotu, said in a statement on Sunday.

The regulator added that production activities across most other producing assets remained relatively stable during the month.

“Production activities across most other producing assets remained relatively stable, with operators sustaining implementation measures aimed at optimising production efficiency, maintaining asset integrity, and minimising operational disruptions,” the statement said.

The latest figures indicate a continued improvement in Nigeria’s oil production, with the country maintaining its OPEC quota compliance for the fourth consecutive month.

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