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Sally Mbanefo Canvasses Agriculture Based Economic Revolution For Nigeria

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FOUNDER, Sally Mbanefo Foundation and former Director-General of the Nigerian Tourism Development Corporation (NTDC), Mrs. Sally Uwechue-Mbanefo, has emphasized the need for Nigeria to go back into agriculture, saying, “we need a green revolution for Nigeria to move forward.”
Mbanefo, who described Agriculture as “going back to basics” said this in her remarks and unveiling of the Agrillonaire – Youth-Oriented Agricbusiness quarterly, at the opening ceremony of the sixth edition of Agrikexpo and NABG Conference 2017, on Monday, at the International Conference Centre, Abuja.
She recalled that before the oil boom, through agriculture, Nigeria was the fourth largest economy in the developing world and major exporters of cash crops, cocoa, palm oil and groundnuts, among others.
Her words: “Our soil has been raped and oil is a curse to our dear nation! We extract oil from the s-oil; but do we add value to the soil by cultivating and reviving its dignity? Our decline began with oil boom.
“Over two third of the Nigeria’s population are youth. Nigeria is known as Africa’s giant, economically and demographically with the highest population – over 170 million people. But this giant is hungry.
“We complain about devaluation and crash in oil; yet every devaluation brings opportunities. Opportunities are abound in Nigeria. Please, dear youth, do not waste these opportunities. Take responsibility for Nigeria’s greatness. Start by helping to feed the nation. Be the generation that ends poverty in the country.”
Mbanefo enjoined the government to encourage the youth, saying “48% of the labour force in Nigeria are youth (between the ages of 15 and 30); 17.53% of the Nigerian youth are not educated, while female youth are the least educated, yet the quality of the education is in question; 79% of the youth are not computer literate; while 4.3% of the youth studied Agriculture.”
While calling on the government and the private sector to create more jobs for the youth, Mbanefo noted that “Unemployment affects the country – economically, socially and politically. Job creation is key to reducing unemployment because youth suffer the most.
“Youth employment programmes need to be sustainable and have a long term action plans, taking into account, talent and vocation to build passion.”
While saying that many youth are discouraged to explore agriculture due to lack of access to land, and only a very few of them inherited land; poor mobility and proximity of the lands to the market; lack of access to technology and finance, and slow mechanization.
Mbanefo, while noting referencing a recent survey, which showed that agriculture is the largest employer of labour in Nigeria, described good access to agriculture market as key to encouraging more people, especially the youth, into farming, while encouraging farmers to diversify, saying, “seasonal crop production discourage many farmers, especially the youth. During the low season for crops, try livestock, poultry and fish farming.”
She disclosed that her NGO, Sally Mbanefo Foundation is partnering with the Nigeria Agribusiness Group (NABG) while calling for investment in human capital. She noted that “My foundation has been working with the youth since 2007 and is ready to partner with organisations to further encourage the youth and empower them.”
Discussing the ways to encourage more participation in agriculture, especially the youth, Mbanefo said technology becomes key here, “to drive storage, processing and packaging.
While saying the growing hospitality industry, in Nigeria and other part of the world, created increased demand in agriculture, Mbanefo suggested the movement of agriculture to rural cities, and enjoined the government and the financial institutions in the country to give farmers access to micro credits with affordable interest rate.
She then encouraged the Nigerian youth to have passion, integrity, imbibe a culture of discipline, hard work, determination, perseverance and delayed gratification, to enable them succeed in life, giving the Group Chief Executive Officer of Dangote as an example.
However, the President, Nigeria Agribusiness Group (NABG), Alhaji Sani Dangote, earlier in his opening address described the conference as an opportunity for farmers and stakeholders in the Nigerian Agricultural industry to compare note, to propel agriculture growth in Nigeria and Africa, by encourage youth and women to get more actively involved in Agriculture.
Dangote, who described agriculture as wealth sustainable sector commended the participation of youths and private organisations in Agriculture in Nigeria.

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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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