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Saturday, October 28, 2023

Ekiti State Government set to partner private sector on mineral resources.

Ekiti State Government set to partner private sector on mineral resources

The Ekiti State Goverment will create an enabling environment that will stimulate exploration of abundant mineral resources and provide employment for it's treeming youth population. 

Hon. Commissioner for the Ministry of Wealth Creation and Employment, Ekiti State, Otunba Kayode Fasae in his recent engagement of stakeholders in the private sector on the importance of private public partnership in facilitating wealth creation and employment, made this statement in Lagos.

Discussing with the Chief Executive Officer of Multiverse Mining and Exploration PLC, the honorable commissioner conveyed the desire of the administration led by his excellency, the Executive Governor of Ekiti State, Governor Biodun Abayomi Oyebanji, to explore mineral exploration as a path to wealth creation in the state. 

The CEO, Mr. Ayo Oluwasusi explained that his organization would be willing to engage the government in a partnership. He revealed that his organization was willing to confirm the availability of certain resources in commercial quantity, and upon confirmation, was willing to work with the state government to set up the necessary facilities for mining and production. 

At the end of the meeting, it was agreed that such a partnership required the input of other important stakeholders within the government and the private sector. If concluded, the job opportunities to emanate from the partnership was estimated to be around 500 jobs. The commissioner further explained that the provision of jobs would not be an end in itself, but simply a pebble intended to set off a ripple effect of wealth creation for the state.

President Tinubu Celebrates Revered Traditional Ruler, Oba Rilwan Akiolu of Lagos, At 80.

President Tinubu Celebrates Revered Traditional Ruler, Oba Rilwan Akiolu of Lagos, At 80.
President Bola Tinubu celebrates his long-time ally, friend, and confidant, His Majesty, Oba Rilwan Akiolu of Lagos State, on his 80th birthday.

President Tinubu describes the revered monarch as a fountain of wisdom, knowledge, and a staunch custodian of the rich culture and traditions of Lagos.

"Oba Akiolu and I have come a long way. He is my confidant. He is a dear friend I hold in high esteem for his integrity, honour, and forthrightness. He is always generous with his wise counsel and always willing to offer his fatherly guidance.

"Baba is a defender of the truth and his people. My achievements as Lagos State Governor are partly due to his support and counsel. His Majesty's reign has brought peace, progress, and development to the good people of Lagos," the President says.

The President thanks the Eleko of Eko for his unceasing prayers and support, recalling his interventions over the years, even in trying times. 

"Today, I celebrate an extraordinary monarch whose wit and foresight are peerless. May His Majesty live long, and may his reign on the throne of his fathers continue to be prosperous," President Tinubu prays.

The Oba of Lagos is a monarch of many achievements. He rose to the pinnacle of his professional career, retiring as an Assistant Inspector-General of Police. The Oba is a fellow of the Nigerian Law School. 

Oyebanji Names Seven-Member Board For Fountain Holdings Limited.

Oyebanji Names Seven-Member Board For Fountain Holdings Limited.
 
Determined to boost the state’s investment drive, Ekiti State Governor, Mr Biodun Oyebanji has named a seven-member board to drive the state-owned Fountain Holdings Limited.

The members are:
1​. Mr. Jide Ogundare​-Chairman
2​. Ms Folakemi Fatogbe-Member
3​. Mr Akintunde Oyebode-Ex-Officio
4​. Mrs Tayo Adeola-​Ex-Officio
5​. Mrs Adenike-Yomi Faseun-Member
6​. Mr. Ayo Fakolade-​ Member
7​. Mr. Kunle Gidado​- Member
 
*Jide Ogundare: 
Mr Jide Ogundare, who is being re-appointed as Chairman of the Board of Fountain Holdings Limited, is CEO MBO Capital Management Limited, an equity firm that invests in small to medium sized companies in Nigeria and the rest of Anglophone West Africa.
Ogundare holds a first degree in Law from the School of Oriental and African Studies (SOAS), University of London, and called to the Nigerian Bar in 1987. He also holds an MBA from Cardiff Business School, UK.
His areas of expertise include client and investor relations, transaction structuring, policy and procedure development, and performance improvement.
 
 
Folakemi Fatogbe: 
Folakemi Fatogbe, a banker and risk management expert was a former Director, Risk Management at the Central Bank of Nigeria (CBN). She is the Chief Executive Officer/Founder, De-Risking Lab, and the Creative Director/ Founder of Oyaato.
Fatogbe studied Communication Arts at the University of Ibadan and started her banking career at the Public Relations Department, Owena Bank. She later bagged an MBA in Finance and International Business at the Cardiff Business School, UK. From there, she went into UK banking sector and started in financial control and corporate strategy at the NatWest Banking Group, Head Office in the City of London.
She later worked for the Bank of England as a Senior Risk Analyst covering Emerging Markets, (African and Gulf banks). She also worked as Programme Director for Banking at NCR and from there to Lloyds Financial Markets, the Royal Bank of Scotland, and Chase Cooper Consulting as a Risk Consultant. She joined the CBN upon her return to Nigeria In the heat of the 2008/2009 global financial crises and served as Special Adviser to the CBN Governor on Banking Reforms and Risk Management as well as Director of Risk Management of the apex bank.
 
 
Adenike Yomi-Faseun:
Adenike Yomi-Faseun is a multi-skilled professional with over 26 years experience in migration management, business services support, global mobility, immigration advisory and compliance services, and tax compliance management.
She is a Supervising Partner in KPMG for Country Briefing engagements, where she has assisted various clients in educating their expatriate employees and dependants on the challenges of living and working in Nigeria. She leads corporate social responsibility (CSR) Team at KPMG Nigeria and supervises the implementation of impactful activities in the communities.
Adenike holds a Master of Business Administration (MBA) from Lagos State University, Ojoo, Lagos; and a Bachelor of Science degree in Sociology from the Obafemi Awolowo University (OAU), Ile-Ife.
 

Ayo Fakolade: 
Ayo Fakolade, Founder of Compleo Legal, has significant and diverse expertise in commercial Law. He has advised several indigenous and foreign companies, development finance institutions, non-profit organisations and individuals on diverse issues.
Prior to founding Compleo Legal, Ay has had stints with Aluko & Oyebode, Nigeria’s leading Commercial law firm. He also worked at a holding company with subsidiaries in the financial, real estate and telecommunication sectors.
Ayo Fakolade holds a law degree from the University of Ibadan and a master’s degree in law from Northwestern Pritzker School of Law, Chicago, Illinois, USA. He also holds a Certificate in Private Equity, Londo Business School, UK.
 
Olakunle Gidado: 
Gidado has an extensive experience in the oil and Gas sector and currently heads Nigeria- Lukoil International Trading and Supply Company. He had previously served as Managing Director and Regional Lead, BP Global West Africa, where he provided leadership for the delivery of BP supply and trading West Africa strategy including: access to refined product markets, biofuel and crude lifting opportunities and asset/infrastructure investments. He had previously worked in the United Kingdom and United States of America.
Gidado holds a bachelor’ degree in Accounting and a Master of Science degree in Finance from University of Houston, C.T. Bauer College of Business. He also holds an MBA from the Houston Christian University, Archie W. Dunham College of Business, USA.
 
Akintunde Oyebode:
Currently Ekiti State Commissioner for Finance, a position he is manning for a second consecutive term. He had previously served as Special Adviser to the Governor on Investment, Trade and Innovation.
Oyebode is a trained Economist who is passionate about sustainable development, investment and youth employment. He started his career as a Research Assistant at the Lagos Business School, before going into the banking industry where he spent over a decade in various roles with First City Monument Bank (FCMB) and Stanbic IBTC Bank, where he was Head of SME Banking. The 2002 Economics graduate of University of Lagos, Akoka, was the pioneer Executive Secretary of the Lagos State Employment Trust Fund (LSETF), established to provide financial support to residents of Lagos State, for job and wealth creation and to tackle unemployment.
 
Tayo Adeola:
Currently the Commissioner for Investment, Trade and Industry in Ekiti State, Mrs Adeola came into public service as a Special Adviser to the Governor on Investment, Trade and Industry.
Adeola is an investment banker with over 31 years cognate experience. She began her career with the ICON Limited (Merchant bankers) in 1991 and join Consolidated Discounts Limited in 1996 as a pioneer security dealer and managed assets in excess of $1,2billion. She later served as Managing Director of Capital Express Assets and Trust Limited and was Vice President, bank of America Merrill Lynch International where she managed assets in excess of $50 billion.
 
The date for the inauguration of the board would be announced later.

The Biodun Oyebanji administration is committed to working with individuals, corporate organisations and institutions in the bid to ensure growth and development in line with the shared prosperity mantra of the administration.

Friday, October 27, 2023

Crisis hits Ondo Assembly over Deputy Gov’s impeachment.

Crisis hits Ondo Assembly over Deputy Gov’s impeachment.
Crisis has hit the Ondo State House of Assembly over move by the lawmakers to continue impeachment process against the Deputy Governor, Lucky Aiyedatiwa, despite the political solution proffered by the national leadership of the All Progressives Congress (APC).

Speaker of the Assembly, Oladiji Olamide, had written to the Chief Judge, Justice Olusegun Odusola, to constitute a seven-man panel to investigate allegations of gross misconduct leveled against Aiyedatiwa.

The Speaker had said the restraining order by a Federal High Court in Abuja had elapsed.

But 12 lawmakers led by spokesman of the Assembly, Oshati Olatunji, in a letter addressed to Justice Odusola, urged him to disregard the recent letter by Speaker Oladiji.

The 12 lawmakers, in the letter, said the Speaker’s letter did not emanate from any of the sittings of members of Ondo State House of Assembly.

They said the order of interim injunction of the Abuja Division of the Federal High Court still subsists, saying it was neither vacated nor set aside.

The lawmakers said it would be contemptuous for them to act in contravention of the subsisting order of Court.

The letter stated: “The decision to transmit the purported letter of Ondo State House of Assembly dated 23rd October, 2023, signed by Rt. Hon Oladiji Olamide Adesanmi, was taken without a formal sitting of the House and our knowledge as members of the 10th Assembly.

“It is our considered view that we should be honourable indeed by standing with our acceptance at the Abuja meeting to suspend the impeachment process and allow for amicable and political solution to the issue for the benefits of governance and peace of Ondo State.

“In the light of the foregoing, we the undersigned members of Ondo State House of Assembly wish to dissociate ourselves from the letter titled: Request to Constitute a Seven-man Panel to Investigate the Allegation of Gross Misconduct Against the Deputy Governor of Ondo State.”

Those that signed the letter were Hon. Japheth Oluwatoyin, Hon. Jide Oguntodu, Hon. Tiamiyu Fatai Atere, Hon. Gbegudu Ololade, Hon Allen Oluwatoyin, Hon. Abitogun Stephen, Hon. Tope Komolafe, Hon. (Barr) Afe Felix, Hon. Oladapo Biola and Hon. Fayemi Olawumi.

Hon. Oshati Olatunji, who confirmed the contents of the letter, said they were not properly consulted.

He said: “The letter is true. It actually emanated from us. If you look at the content of the letter, it addressed a particular point—the last letter sent to the Chief Judge of Ondo State by the Speaker.

“The Speaker did not consult well. It has to be a collective responsibility because we have lawyers among us who normally advise us on the implications of some of the things we do when it comes to legal issues.

“That is why they hammered on the last letter being contentious as long as the vacation on the injunction has not been removed.

“It is just an inter-house conflict, but unfortunately, people coloured it and gave it so many meanings. But the content of that letter said it all.

“We are after due process as we promised the people of Ondo State. And since the national body of our party (APC) has intervened, we believe in exploring the reconciliatory move because the two gladiators are our fathers; they are the leaders.”

Kogi, Imo, Bayelsa polls: NSA, CDS, IGP warn troublemakers.

Kogi, Imo, Bayelsa polls: NSA, CDS, IGP warn troublemakers.
The Inspector General of Police, Kayode Egbetokun and the Chief of Defence Staff, Lt. Gen. Chris Musa, yesterday warned those poised to forment trouble during the forthcoming governorship elections in Kogi, Imo and Bayelsa states to steer clear of the states  as they will be met with the full weight of the law.

The two security chiefs spoke just as the National Security Adviser, Mallam Nuhu Ribadu said President Bola Ahmed Tinubu had ordered that everything possible should be done to ensure that the elections in the three states are free, fair and credible, without any form of interference.

While Egbetokun said police and other security agencies are monitoring activities of those planning to forment trouble in the three states, Gen Musa said a general court martial had been placed on standby for security personnel who may compromise their position during the elections.

Addressing newsmen after a meeting of the Inter-Agency Consultative Committee on Election Security (ICCES) comprising the Independent National Electoral Commission (INEC) and the security chief, Egbetokun said the police was aware that supporters of some candidates in the election were already mobilising to torment trouble during the elections.

The INEC Chairman  had at the meeting,  expressed concern about violent activities of party supporters in the three states.

The IGP said “We have just concluded the ICCES meeting with INEC.  This election is an off season election and we are committed to making it a free and fair election.  The security agencies are ready for this election.  We have received all necessary information from INEC which has informed us where to deploy to during this election.

“We have carried out our threat assessment and that has informed us where to allocate our resources and the deployment of our men. All the security agencies are collaborating seriously to ensure that this election is violence free.

‘My appeal to people who want to come out and make trouble during this election is for them to stay away from the election because there will be no place for them to operate.

“We are aware of mobilisation by supporters of some candidates. We are already monitoring them and we are ready for them during this election. I appeal to those who just want to come out and disrupt this election to stay away.

“I appeal to the electorate to come out en masse to cast their vote during this election.  We are committed to a peaceful election and there is no going back on that.”

Also speaking, the Chief of Defence Staff said other security agencies will fully be on ground to assist the Police to deliver a credible election, saying “we are here fully to show collaboration, cooperation and support for the Police who are the lead agency in election security.

“The armed forces are going to provide full comprehensive support to ensure that the police is able to do its job without any interference.

“We want to show the people in those three states that there is no need to entertain any fear as the armed forces, the police and other security agents will be fully on ground.”

“All Nigerians are tired of election violence and we intend to do things differently so that at the end of the day, every Nigerian will be proud to be a Nigerian and come to the realisation that election is now free and fair and everybody that wins an election should be proud that he won a free and fair election.

“We have fully deployed and are on ground both covertly and overtly. Anybody who attempts to disrupt any of the elections will have himself to blame.”

General Musa warned security agents involved in the elections not to compromise their position, but abide by the code of conduct given to them

He said “the security men know the code of conduct and what they are supposed to do and we have explained to them.

“We have sent warnings and have court martial on standby and any member of the armed forces who misbehaves will have himself to blame. The court martial is operational already and we want to ensure that we act professionally in everything that we do.”

On his part, the National Security Adviser who is the co-Chairman of ICCES, Mallam Nuhu Ribadu assured that the election will be conducted without any form of interference as directed by the President.

Ribadu said “We are prepared and will be with you 100 percent and will work to meet the standard that you want us to meet.  There is nothing as important as a free and fair election in a democracy.

“This government is interested in that and Mr. President has directed that he wants to see a free, fair and credible election.  This is the first election that is going to be held under his watch.

“He said everything possible should be done to ensure that Nigerians witness a free and fair election.  I want to assure Nigerians that this election will be better than the previous ones.  This election is going to be without violence and a litmus test for us.”

Speaking earlier, INEC Chairman, Prof. Mahmood Yakubu said elections will be conducted in about 10,510 polling units across the three states with about 5.1 million registered voters who have collected their PVC eligible to vote.

He said further that eligible voters in the three states will vote in all the 10,510 polling units, with the exception of two  polling units in Bayelsa State and 38 in Imo State without registered voters.

While saying that the list of these polling units is available on the commission’s website, he disclosed that election results will be collated in 649 Registration Areas/Wards, 56 Local Government Areas and three state collation centres.

He said “this gives us a cumulative figure of 11,178 voting and collation locations to deploy security personnel in the three states. This is in addition to ensuring a secure environment for the ongoing campaigns and rallies by political parties and candidates, security of voters, the escort of personnel and materials, protection of assets and general security for all persons with legitimate reason to participate in the election and electoral activities”.

He stressed that “the three states of Bayelsa, Imo and Kogi are not the easiest states in Nigeria to conduct elections. The difficult geographical terrain and prevailing insecurity are compounded by negative mobilisation by political actors, especially since the commencement of campaign in public on 14th July 2023.

“Our message to politicians is that they should call their candidates and supporters to order. Violence and other undemocratic activities such as vote buying, attacks on election officials and disruption of the electoral process must stop.”

Meanwhile, the Bayelsa State governor, Senator Douye Diri, has said that the candidate of the All Progressives Congress (APC) in the November 11 governorship election remained disqualified based on the first amended list of the Independent National Electoral Commission (INEC) and urged the Bayelsa electorate not to waste their votes on a party that is not on the ballot.

Diri, who noted he was not in Igbedi to campaign, said the projects of his administration in the community were evident.

The governor assured the people that during his second tenure he would construct a road linking Igbedi to Kaiama, which will create a better access to and from the Bayelsa International Airport from the East-West road and the Delta State axis.

He said: “Those whose names have been delisted by amendment number one of INEC can no longer sleep. They will continue to have sleepless nights.

“In our second tenure, the other road that will be important to Bayelsa and even the people of Delta State and for the use of our airport will be to connect Igbedi to Kaiama. That will be the next project we will embark upon in our next tenure.”

Also speaking, wife of the governor, Dr. Gloria Diri, who is a native of Igbedi, thanked people of the community for the rousing welcome accorded her husband and the support given him over the years and urged them not to relent.

The governor inaugurated an internal road in the community and also observed a minute’s silence in honour of Mr. Peremobowei Tukuwei, who died in a tragic boat mishap on Wednesday while the APC campaigned in Nembe Local Government Area.

The Labour Party (LP) candidate in the state,  Udengs Eradiri, said , with the growing grassroots support to his campaigns,  he will demystify money politics in the November 11 poll.

Eradiri spoke during his campaign tour with stakeholders and supporters of the LP to Nembe City, Opu Nembe and Otakeme community in Nembe and Ogbia local government areas.

Eradiri, who was overwhelmed by the crowd that voluntarily trooped out to receive him, said he was aspiring to become a people-oriented leader that would provide mentorship to young people and reposition the state for greatness.

Eradiri lamented the crisis that had befallen Nembe, sympathised with them and assured them that if elected his administration would focus on the development of the area and stop all forms of politically-induced unrest.

He noted that  he was in the race to rescue Bayelsa, develop all communities insisting that the state was suffering from bad leadership and clueless government.

Eradiri said:  “We are the second poorest state, and the highest school drop out in the whole of the country, which is very sad. I am moving across all the communities of our state selling my manifestoes.

“I will change the old order of doing things. I will not clap hands for myself for building roads, infrastructural development and other social amenities which ordinarily are the rights of the people. Together we will make Bayelsa work again.”

EFCC grills Emefiele over alleged $15b foreign debts, new currency.

EFCC grills Emefiele over alleged $15b foreign debts, new currency.
The Economic and Financial Crimes Commission (EFCC) yesterday began a full-scale probe of the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, with alleged $15 billion foreign debts topping the investigation.
Emefiele will also account for how the apex bank spent N74.84 billion to produce and roll out currencies, including new naira notes.

The allegations are in addition to alleged fraud uncovered by the Special Investigator, Jim Obazee, who is looking into the activities of the CBN.

Obazee, whose committee is collaborating with the Federal Bureau of Investigation of the Nigeria Police, has also submitted an interim report on the CBN to President Bola Ahmed Tinubu.

It was learnt yesterday that the ex-CBN governor was transferred from the Department of State Services (DSS) to the EFCC because the fresh investigation is not covered by the mandate of the security agency.

The DSS does not have the core competence to investigate the weighty allegations of financial crimes against Emefiele, a highly placed source said yesterday.

There were fears that if the DSS continues with the investigation, the ex-CBN governor might win in court on technical grounds.

The source said only the EFCC can put Emefiele on trial, not the DSS, based on the findings made so far.

Emefiele was transferred (technically released) to EFCC on Thursday afternoon to allow for in-depth investigation and trial.

The swap was kept under wraps in order to avoid what the source described as a “distraction.”

Having appraised the allegations against Emefiele and the interim report on the ongoing probe of the CBN, the Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi (SAN) sent an advisory to the President that the EFCC is the right agency to probe Emefiele, it was learnt.

“As a man of due process, the President approved the advisory of the AGF. It was on this basis that the DSS handed over Emefiele to the EFCC on Thursday,” The Nation learnt yesterday.

About two to three weeks ago, the Special Investigator on CBN activities, Jim Obazee, submitted an interim report to the President with a lot of findings requiring in-depth investigation. This was another reason the AGF was very strong in his opinion that the EFCC should manage the ongoing probe.

“The truth is that such an investigation is not within the mandate of the DSS. Or else, if Emefiele is put on trial by the DSS, he will win on technical grounds,” the highly placed source said.

At press time, it was confirmed that a panel of EFCC operatives had started grilling Emefiele on the allegations against him, including the following:
•Alleged foreign debts of $15 billion

•Spending of N74. 84 billion on Naira redesign, production and roll out of currencies

•Alleged fraud in Anchor Borrowers Scheme

•Suspicious audit of CBN accounts

•Acquisition of bank, Fintech licences by some top officials of CBN

•Award of suspicious billions of Naira contracts

Another source in EFCC added: “Emefiele is in our custody and he is already responding to issues or allegations raised for him from a team under the supervision of the Director of Operation, Abdulkarim Chukkol.

“As a commission, we won’t talk on his case in order not to compromise ongoing investigation.”

The Head of Media and Publicity of EFCC, Mr. Dele Oyewale, was yet to pick his call at press time.

AfDB, Partners Pledge Additional $1 Billion to Fund Nigeria's SAPZs in 24 States at World Food Prize Dialogue.

AfDB, Partners Pledge Additional $1 Billion to Fund Nigeria's SAPZs in 24 States at World Food Prize Dialogue.
It was yet another bountiful harvest for the President Bola Ahmed Tinubu administration in its investment drive, as the African Development Bank (AfDB), Islamic Development Bank (IDB) and the International Fund for Agricultural Development hinted on Thursday that they have voted $1 billion to further deliver special agro-industrial processing zones in 24 States of Nigeria. 

This is in addition to an initial $520 million voted by the development partners for the development of eight special agro-industrial processing zones in Nigeria. 

President of African Development Bank Group, Dr. Akinwumi A. Adesina, disclosed this at the Norman Borlaug International Dialogue, World Food Prize 2023, in Des Moines, Iowa, United States of America. 

Vice President Kashim Shettima, who is attending the event in pursuance of the food security and diversification policy of the Tinubu administration, had on Wednesday delivered his keynote address at the ongoing Dialogue. 

Delivering his own speech titled, “From Dakar to Des Moines,” Dr. Adesina noted that the decision to pump such huge funds into Nigeria’s agribusiness was part of the resolve to develop Special Agro-Industrial Processing Zones (SAPZs) in 13 countries. 

Explaining that it was the core of the food and agriculture delivery compacts from the Dakar 2 Summit held earlier this year in Dakar, Senegal, the AfDB President said, “We are investing heavily in the development of  SAPZs to support the development of agricultural value chains, food processing and value addition, enabling infrastructure and logistics to promote local, regional, and international trade in food. 

“The African Development Bank Group is investing $853 million in the development of the Special Agro-Industrial Processing Zones, and it has mobilized additional co-financing of $661 million, for a total commitment of $1.5 billion. We are deploying effective partnerships at scale. We are currently implementing 25 Special Agro-industrial Processing Zones in 13 countries. 

“For example, the African Development Bank, Islamic Development Bank, and the International Fund for Agricultural Development provided $520 million for the development of 8 special agro-industrial processing zones in Nigeria. The second phase of the program aims to mobilize an additional $1 billion to deliver special agro-industrial processing zones in 24 States of Nigeria”. 

Dr. Adesina regretted that while much progress had “been made in African agriculture, 283 million people still go to bed hungry in Africa, about a third of the 828 million people that suffer hunger globally.” 

He however described the  Norman Borlaug International Dialogue World Food Prize 2023, as a “journey and narrative  of how we are combining the power of science, technology,  policies, and politics to ensure that Africa fully unlocks its agricultural potential, and feeds itself, with pride.” 

The AfDB President thanked Vice President Kashim Shettima, and the President of Ethiopia, Sahle-Work Zewde, for participating in the global event, saying their presence is an indication “that Africa has the political will and is fully ready to tackle food insecurity and make hunger history” on the continent. 

Also speaking during the fire-side chat with the AfDB President, Dr Akinwunmi Adesina, Vice President Kashim Shettima who spoke on the Tinubu administration’s initiatives for food security said the quality of present leadership in Nigeria and the rest of Africa will drive transformation in agriculture and other sectors. 

According to him, “a nation falls or rises fundamentally due to the quality of its leadership. Right now Africa is blessed with quite a handful of quality leaders that have the drive, passion and skills set to redefine the meaning and concept of modern leadership. 

“Bola Ahmed Tinubu, my boss, is a good example, Macky Sall of Senegal and of course, Abdel Fattah El-Sisi of Egypt are doing wonderfully well,  just to mention a few of the African leaders that are distinguishing themselves in leadership. 

“I want to assure this gathering of investors and stakeholders in the agricultural sector that my boss, President Bola Ahmed Tinubu is a quintessential 21st century modern African leader who is determined to redefine the meaning and concept of modern leadership. 

“Be rest assured that there will be a sea change in the fortunes of the Nigerian nation and by extention the African continent in the next couple of years because Nigeria is an anchor nation,” the VP added. 

On wheat production, Sen. Shettima said “our target towards wheat production in Nigeria is to achieve 50% self sufficiency in the next 3 cycles. It is inconceivable that we are the second largest wheat importer in the world. 

“Luckily, we have already procured the heat tolerant variety of wheat seeds and we are going to drive that process by supporting the farmers with the heat tolerant variety, agricultural extention services, fertilizer and also hope to increase the irrigation areas to 1 million hectares in the next cropping cycle. 

“We need to produce about 2.4 million tonnes of wheat grains in Nigeria. We are going to reach out to our farmers through small irrigation schemes and through digitalisation. All the actors in the value chain will be sufficiently taken care of through innovative finance, partial credit guarantees and crop insurance,” the VP emphasized. 

For rice production, the VP said the major challenge for Nigeria is the insufficiency of paddy rice. He noted that Nigeria has adequate milling capacity but “we need to produce 3 to 4 million tonnes of paddy rice to meet our requirement of about 2.5 million tonnes per annum. We have 75 million hectares of arable land and most of it suited for rice cultivation.” 

He added that “we will provide our farmers with certified seeds, fertilzer, extension services, the digitlization of services, inputs, finance and market information. Our target is to achieve self sufficiency in rice latest by 2027.” 

The VP also spoke about the Special Agro-Industrial Processing Zones (SAPZs), reiterating the Tinubu administration’s commitment to providing an enabling environment for investors in the zones. 

He said government would create an SAPZ development authority that will operate like a one-stop shop where regulatory and associated issues will be addressed.