News
Ododo disburses N370m community revolving loan to farmers in Kogi
Gov. Ahmed Ododo of Kogi on Wednesday disbursed N370 million Community Revolving Fund (CRF), to farmers to boost food production in the North-Central State
The News Agency of Nigeria (NAN), reports that the CRF loan disbursement is in partnership with the World Bank under the ACReSAL project.
A total of 208 farmers spread across 10 clusters in two catchment areas benefited from the CRF loan in the Pilot Phase I.
Each cluster got 25,000 USD (N37m), out of the 250,000 USD (N370m) shared.
The 208 beneficiaries, 70 per cent of whom are women, got N1.77m each.
Ododo, who inaugurated the disbursement at the Government House, Lokoja, said the scheme was a proactive initiative aimed at addressing the challenges of climate change.
It is also to support community agricultural efforts, he added.
The governor disclosed that the second phase of the CRF loan disbursement would come up in August.
He appreciated all stakeholders involved in the project and emphasised his administration’s commitment to agricultural development.
According to him, within his five months in office, his administration had implemented various initiatives to enhance agricultural productivity.
The initiatives, he said, included the provision of agricultural machineries for mechanisation, agricultural inputs, training and capacity building for farmers, among others.
The governor urged the CRF beneficiaries to utilise the loan judiciously, stressing that it was designed to support their agricultural endeavours and improve their livelihoods.
Ododo expressed confidence that the loan would boost agricultural practices in the catchment areas, leading to increased food production and security.
“It is expected that the funds would be utilised for activities under climate smart agriculture and related agricultural value chain, just as you have been trained.
“I implore you to pay back the loans as at when due, to enable others benefit from the fund because it is a revolving loan.
“I assure you all that our administration will continue to collaborate with global partners to provide resources and support that could cushion the attendant effect of climate change and tackle poverty.
“We are not oblivious of the fact that our farmers need security in order to farm effectively. To this end, we have mapped out our security plan to protect our farmers and their farmlands.
“Our administration has developed a template for farmlands security by employing local hunters and vigilante men and women to provide adequate security at all times.
“We have also activated our security rapid response capacity to distress calls from farmers and others
“Adequate security gadgets and patrol vehicles have been provided across the 21 Local Government Areas(LGAs) of the state.
“We have strengthened the capacity of LGAs to ensure community policing. We won’t complain and run to Abuja, we are providing solutions here in Kogi.
“Local Government Chairmen, community leaders, security agencies are all our critical partners in ensuring the success of this all important, poverty-defeating scheme.
“There are pointers to the fact that our efforts in the area of community policing is already yielding fruits,” Ododo said.
Earlier, the Speaker, Kogi House of Assembly, Mr Umar Yusuf, had emphasised the importance of partnership for progress as highlighted in the 17 thematic areas of the SDGs.
The speaker commended the governor for his leadership and commitment to the development of the state.
Also, State Project Coordinator of ACReSAL, Ladi Jatto, commended the governor for his commitment to the success of the project in the state.
Jatto stressed that the governor had made it easy for the people of Kogi to take advantage of the project.
In their remarks, Messrs Asiwaju Idris and Olusegun Joseph, finance and environment commissioners respectively, thanked the governor for paying due attention to the plight of the rural poor.
The Obaro of Kabba, Oba Solomon Owoniyi, and the Ohinoyi of Ebiraland, Alhaji Ahmed Tijani-Anaje, commended the governor for his efforts at supporting the agricultural sector.
They urged the beneficiaries to ensure timely repayment of the loan to ensure the sustainability of the project. (NAN
The Nigerian electricity sector slowed in the fourth quarter of 2024 (Q4 2024), with the electricity production index declining by 1.64% year-on-year (y-o-y).
Data from the Central Bank of Nigeria (CBN) says this marks a reversal from the 5.55% growth recorded in the third quarter of 2024 (Q3 2024).
Average estimated electricity generation rose by 2.34% to 4,206.50 megawatts per hour (MW/h) from 4,110.47 MW/h in Q3 2024.
Similarly, electricity consumption saw a modest increase of 2.63%, reaching 4,105.66 MW/h from 4,000.24 MW/h in the preceding quarter.
This is as the Nigerian economy witnessed widespread expansion in the fourth quarter of 2024 (Q4 2024), with 21 out of 22 subsectors recording positive growth.
On a quarter-on-quarter (q-o-q) basis, however, the subsector showed signs of recovery, as the index rose by 22.50% compared to a significant decline of 49.46% in the previous quarter.
The broad-based economic expansion in Q4 2024 can be attributed to several factors, including improved business confidence, increased consumer spending, and enhanced performance in key sectors such as agriculture, manufacturing, and telecommunications.
The government’s fiscal and monetary policies, aimed at stabilising inflation and boosting investment, also contributed to the positive momentum.
According to the CBN, the improvement was largely attributed to enhanced gas supply to thermal power stations and the continued implementation of the Siemens Power Project, which has positively impacted power generation, transmission, and distribution networks.
Notably, the oil and gas sector benefited from relatively stable crude oil prices and improved domestic production, which provided a boost to overall economic output.
The data also stated that the non-oil sector, particularly fintech and digital services, also played a significant role in driving economic activities.
Governor Siminalayi Fubara speaking when he received Muslim leaders from 20 Islamic-based groups in Port Harcourt.
Suspended Governor of Rivers State, Siminalayi Fubara, has assured residents that the ongoing political crisis in the state will ultimately strengthen the people rather than weaken them.
Fubara made this statement when he received Muslim leaders from 20 Islamic-based groups, including the Supreme Council for Islamic Affairs, at his private residence in Port Harcourt during an Eid-El-Fitr Sallah visit.
Addressing the delegation, Governor Fubara urged them and his supporters to trust in God’s process, saying: “This season is one of love, sharing, and sacrifice. You have come to share in our pain and have made a great sacrifice through your prayers. As Christians, we believe that everything happens for a purpose, and I strongly believe that this situation is leading us toward a greater purpose.”
He acknowledged that the current political tension might leave many feeling depressed but emphasised that supernatural forces may be at play beyond human understanding.
“No matter what we see, we must remain steadfast. In all things, we give glory to Almighty God. I believe that in the end, we will emerge stronger,” he added.
He reaffirmed his commitment to justice and equality, stressing that his administration envisions a society where no one is oppressed.
“We believe in egalitarianism, and if our beliefs bring us some pain, so be it. The most important thing is that we stand on the side of truth and righteousness,” he stated.
He regretted that he was unable to formally reach out to the Muslim community during their celebrations but promised that the relationship between religious groups and the government would be strengthened once the current uncertainties are resolved.
He also assured the leaders that their pending requests would be addressed after the crisis subsides.
Urging patience and perseverance, Governor Fubara drew an analogy from religious history, saying, “If God could be patient with Noah to allow even the snail to enter the Ark, then patience remains an essential virtue in our struggle.”
He also cautioned against falling prey to those who want engineer violence by fanning provocative acts, warning his supporters and Rivers people to avoid certain elements who sought to destabilize the state.
“Their goal is to create problems and deny people their means of livelihood. We will not allow that. We will continue to operate peacefully and respect constitutional authority to ensure that our state remains a model for others in Nigeria,” he concluded.
Speaking earlier on behalf of the Muslim community, Alhaji Nasir Awhelebe Uhor, declared their solidarity with Governor Siminalayi Fubara, assuring him of their prayers and support as he navigates the state’s current political challenges.
Alhaji Uhor stated that the majority of Muslims in Rivers State stand with Governor Fubara due to his inclusive approach to governance and his recognition of the Islamic faith.
He noted that unlike the previous administration that declared Rivers a 100% Christian state, Governor Fubara, upon assuming office, acknowledged the state as Christian majority while allowing room for inclusiveness.
Encouraging the governor to remain steadfast, Uhor reminded him of the Islamic belief that Allah rewards patience.
He said the present challenges align with the teachings of Islam, where the Creator tests His people through wealth, power, and authority.
He further called on President Bola Tinubu to review the emergency rule in Rivers State and restore Governor Fubara’s full authority, emphasizing that the governor has been performing effectively despite the crisis.
During the visit, prayers were offered for suspended Governor Fubara, his family, Rivers State, and Nigeria as a whole.
The Alliance of Sahel States (AES) comprising junta-led Mali, Niger Republic, and Burkina Faso have imposed a 0.5 percent import duty on goods from the Economic Community of West African States (ECOWAS) member nations.
The move further strains relations between the three junta-led nations and the ECOWAS, which they withdrew from earlier this year following a series of military coups and economic sanctions.
The AES, which began as a security pact between the military rulers of the three countries in 2023, has now metamorphosed into an aspiring economic union with plans for biometric passports and closer economic and military ties.
In a joint statement last week, the AES said the levy aims to generate revenue to fund the alliance’s activities.
The tax, which came into effect on Friday, applies to all imports from ECOWAS countries, except humanitarian aid.
The taxes also disrupt the free trade once enjoyed by all countries in the West African region.
The economic implications could be severe, leading to higher consumer prices, supply chain disruptions, and strained regional economic stability.
While it may provide short-term revenue for the junta-led governments, it risks other long-term consequences, including weakened regional integration.
ECOWAS has maintained that it will keep diplomatic channels open with the junta-led states until July, despite announcing their permanent expulsion from the bloc earlier this year.