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N7.6bn CBN Loan: Makinde Set to Begin Work On Akufo, Eruwa Farm Estate Projects

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Oyo State governor, Engr. Seyi Makinde on Wednesday said with the signing into law of the Oyo State Agribusiness Development Agency bill, ( OYSADA) work would soon begin on the Farm Estates at Eruwa and Akufo respectively.

The governor disclosed this during the signing ceremony  of  OYSADA bill  which took place at the Government House, Agodi, Ibadan, the state capital.

He emphasized that the signing of the Agency bill into law would allow the Agency, which is based in Saki, to start work fully and to kickstart the operation of the Farm Estates’ projects in Eruwa in Ibarapa axis and Akufo, Ibadan.

The Oyo State House of Assembly had earlier approved the request of Governor Seyi Makinde to access N7.6 billion agricultural loan from the Central Bank of Nigeria (CBN.) around October 2019.

Meanwhile, the governor had requested to access the loan to develop Akufo and Eruwa farm settlements into farm estates in the state.

Speaking further at the event, Governor Makinde said: “I have just signed the law to make provision for the establishment, composition and powers of the Oyo State Agribusiness Agency and every other matters connected therewith.

“Agribusiness is one of the cardinal programmes of this administration and what we have done today is to give a legal backing to Oyo State Agribusiness Development Agency.

“With the signing into law of the Agency bill, they are now free to start business as OYSADA. They will be based in Saki and they will be starting the first two projects as soon as possible. The first is the Farm Estate at Eruwa and the second is the farm estate at Akufo. So, I thank you for coming to witness this signing ceremony”.

In a statement signed by the governor’s media aide, Taiwo Adisa,  Makinde  informed that the state government decided to sign off on the bill at this critical time in readiness for the expected boom in its economy through the derivable benefits from agribusiness initiatives.

Giving further insights into the advantages the state stands to gain from the Agency, the governor said: “The agency aims to develop the strategy, coordinate, and implement Agribusiness Investments and projects in the State through public, private and development partnerships.

“It will also enhance the optimisation of agro-food value chain business within Oyo state through an agricultural ecosystem that strengthens productivity, value chain growth and the processing and packaging of agro-based production.

“The Agency will support the State’s economic growth through engagement in domestic trade in agro-food by import substitution and exportation of nutritious processed and package agro-based products.

“Another benefit derivable from the Agency is that it will promote engagement of youth in agriculture through the development of agribusiness enterprises from downstream, midstream to the upstream of the agricultural sector.”

 

 

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Oseni mourns ex-Oyo lawmaker Akeem ‘Able’, says Oyo APC has lost loyal progressive

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The lawmaker representing Ibarapa East/Ido Federal Constituency in the House of Representatives, Engr. Aderemi Oseni, has mourned the death of a chieftain of the All Progressives Congress (APC) in Oyo State and former member of the Oyo State House of Assembly, Hon. Akeem Abimbola Oladipupo, popularly known as Able, describing his demise as a painful loss to the progressive family.

Oladipupo, who represented Ibadan North-West Constituency in the Oyo State House of Assembly, was widely regarded as a grassroots politician and committed party loyalist until his passing.

Oseni, who is also the Chairman, House Committee on Federal Roads Maintenance Agency and the APC candidate for Oyo South Senatorial District, said the late politician’s death had created a vacuum within the party and among those who benefitted from his unwavering commitment to public service.

In a condolence statement issued on Monday by his Media Aide, Idowu Ayodele, and made available to journalists in Ibadan, the Oyo State capital, the federal lawmaker described the late Oladipupo as a dependable progressive, humble political actor and loyal party stalwart whose impact would remain indelible.

He said the deceased dedicated his life to serving humanity, strengthening the progressive movement and supporting the aspirations of many at the grassroots.

Oseni said, “The death of Hon. Akeem Abimbola Oladipupo (Able) came to me as a rude shock. Oyo State and the progressive family have indeed lost a committed, loyal and selfless leader whose passion for service, humility and dedication to the people stood him out.

“He was not just a politician but a bridge-builder, a dependable ally and a grassroots mobiliser who believed strongly in the ideals of our great party. His contributions to the growth of the APC in Oyo State and his service to humanity will remain unforgettable.”

The APC senatorial candidate noted that the late former lawmaker remained steadfast in promoting peace, unity and political development, adding that his simplicity and accessibility endeared him to many across political divides.

According to Oseni, the late politician’s legacy of service and sacrifice would continue to inspire younger politicians and party faithful.

He, however, urged members of the APC, associates and family members of the deceased to take solace in the remarkable life he lived and the positive impact he made during his lifetime.

Oseni also prayed for the repose of the deceased’s soul and for God to grant his family the fortitude to bear the painful loss.

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Governors Push N100,000 Minimum Wage to Ease Workers’ Economic Burden

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State governors have proposed a new national minimum wage of N100,000 for Nigerian workers as part of efforts to cushion them from the biting effects of inflation and the rising cost of living.

Governor AbdulRahman AbdulRazaq of Kwara State, who is also the Chairman of the Nigeria Governors’ Forum (NGF), disclosed the proposal on Saturday in a post by the state government’s official Facebook page. He said the move aims to improve workers’ welfare while ensuring that government finances remain sustainable.

“State governments recognise the urgent need to improve workers’ welfare in response to the current economic realities facing Nigerians,” AbdulRazaq said.

“We are actively engaging with the Federal Government and organised labour to arrive at a wage structure that is fair to workers and sustainable for government finances.”

The NGF chairman explained that ongoing discussions are focused on balancing the need to boost workers’ purchasing power with the capacity of governments to deliver essential public services and development projects.

“The goal is to improve the living conditions of workers while ensuring that states can continue to meet their obligations and sustain projects that directly impact citizens,” he added.

The proposed N100,000 minimum wage is expected to intensify national debates on salaries, inflation, and broader economic reforms as Nigerians continue to contend with rising food prices, transportation costs, and other living expenses.

Currently, Nigeria’s statutory minimum wage stands at N70,000 per month. Some states, including Lagos, Rivers, and Imo, are already paying above the national benchmark to support workers amid the country’s economic challenges.

Meanwhile, the Nigeria Labour Congress (NLC) has continued to call for a comprehensive review of salaries, insisting that workers deserve a living wage that reflects present-day economic realities rather than merely guaranteeing survival.

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Petrol hits N1,533/litre as cooking gas prices jump nationwide

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The average retail price paid by consumers for Premium Motor Spirit, popularly known as petrol, rose to N1,532.93 per litre in April 2026, representing a 23.69 per cent increase compared to the N1,239.33 recorded in the corresponding period of 2025, findings by the National Bureau of Statistics (NBS) have shown.

The sharp rise in petrol prices came amid mounting inflationary pressure and worsening living costs, with Nigerians grappling with soaring transportation and food expenses that have continued to shrink household purchasing power.

The NBS disclosed this in its Premium Motor Spirit (Petrol) Price Watch for April 2026, released on Friday.

The report further showed that on a month-on-month basis, petrol prices rose by 18.97 per cent from N1,288.54 recorded in March 2026, underscoring persistent volatility in the downstream petroleum market.

A breakdown of prices across states revealed that Yobe recorded the highest average retail price for petrol at N1,599.05 per litre during the review period.

Edo and Bauchi followed closely with average prices of N1,595.74 and N1,589.07, respectively.

However, Niger residents paid the least for petrol at an average of N1,403.89 per litre, while Sokoto and Katsina recorded N1,404.16 and N1,406.28 respectively.

At the zonal level, the South-South recorded the highest average retail price at N1,566.76 per litre, while the North-West posted the lowest at N1,508.81.

The latest petrol price increase comes as millions of Nigerians continue to battle the ripple effects of rising inflation, with higher energy costs worsening transportation fares and the prices of essential commodities.

Similarly, the NBS said the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas, also known as cooking gas, rose by 13.73 per cent month-on-month to N8,706.93 in April 2026 from N7,655.73 recorded in March.
On a year-on-year basis, the price increased by 10.42 per cent from N7,885.60 recorded in April 2025.

Lagos recorded the highest average price for refilling a 5kg cylinder at N9,745.10, followed by Nasarawa at N9,451.70 and Bayelsa at N9,422.74.

In contrast, Anambra recorded the lowest average price at N7,204.76, while Ondo and Ogun followed with N7,239.49 and N7,825.75, respectively.

At the regional level, the North-West recorded the highest average retail price for refilling a 5kg cylinder at N9,025.07, followed by the North-East at N8,847.16, while the South-East posted the lowest average price at N8,224.37.

Also, the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 13.89 per cent month-on-month to N22,382.20 in April 2026 from N19,652.83 in March.

Compared to April 2025, the price rose by 10.43 per cent from N20,268.06.

According to the NBS LPG Price Watch for April, Katsina recorded the highest average retail price for refilling a 12.5kg cylinder at N25,596.71, followed by Kogi at N24,558.25 and Gombe at N24,438.97.

Ogun recorded the lowest average price at N19,564.36, while Bauchi and Anambra followed at N20,178.87 and N20,511.90 respectively.

The North-West recorded the highest zonal average retail price for refilling a 12.5kg cylinder at N23,276.95, followed by the North-Central at N22,865.29, while the South-East posted the lowest average at N21,060.92.

The latest figures signal growing pressure on household energy costs, raising concerns over the implications for inflation and the cost of living in the coming months.

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