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Agric minister presents implements to cocoa farmers in Ondo

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Cocoa Farm
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Alhaji Muhammad Nanono, the Minister of Agriculture and Rural Development on Monday in Akure  presented implements to cocoa farmers in the state.

The implements include: 5,411 sachets of fungicide Ultimax Plus, 500 litres of Insecticide Avesthrin and 100 knapsack sprayers as support to the cocoa farmers.

Nanono , who made the presentation at the official opening of the National Secretariat Complex of the Cocoa Farmers Association of Nigeria ( CFAN), noted that the gesture was to encourage cocoa production.

He recalled that the ministry in 2020 inaugurated distribution of agricultural inputs free of charge to farmers including cocoa farmers to alleviate the impact of COVID-19.

“The ministry has so far distributed over 300,000 improved hybrid cocoa seedlings in the South-West, South-South, North Central and South-East of the country, and about 350 cartons of Ultimax-plus were distributed last year in South-South and South-East roll-out.

“The grand-finale was held in Abuja where 500 units of solo pumps were distributed to Cocoa Farmers aimed at increasing cocoa production from the present 250,000 metric tonnes to 350,000 metric tonnes.

“The ministry also recently procured Growth Enhancers, Fungicides (Ultimax plus) and Insecticides (Avesthrin) which is being distributed to cocoa farmers at subsidised rates to enhance production alongside the support of Solar Cocoa collapsible driers to Cocoa Commodity Associations,” he said.

The minister added that in 2020, the ministry in collaboration with Cocoa Research Institute of Nigeria (CRIN), Ibadan carried out skill acquisition on intensive nursery management of improved Hybrid cocoa seedlings (CRIN TC1-8).

According to him, the hybrid seedling had the capacity of fruiting in 21/22 years as against 5 to 7 years.

“The training included the farmer field school on Integrated Pest Management (IPM) and capacity building on use of cocoa collapsible driers,” he stated.

Nanono explained that there was on-going collaboration between the ministry and German International Cooperation (GIZ) on the establishment of Cocoa community seed/budwood garden in the country.

He urged the association to contribute meaningfully to increase productivity in spite of daunting challenges of taking  cocoa production to a desirable level.

In his remarks, the State Governor, Oluwarotimi Akeredolu, noted that there was no gainsaying that cocoa could generate million of jobs in the country.

Akeredolu, who was represented by his deputy, Mr Lucky Aiyedatiwa, asked the Federal Government to provide special funds for cocoa development through the Central Bank of Nigeria ( CBN).

He said that all hands must be  on desk to revamp cocoa for economic benefits of the country.

According to him, chocolate should be incorporated into the National Feeding Programme for its health benefits of enhancing brain development of pupils.

The governor also advised the Federal Government to make cocoa farming attractive for youths by providing credit facilities, internet and infrastructure.

Appreciating the presence of the minister, Mr Adeola Adegoke, the National President of CFAN, acknowledged that the association benefited from the CBN Anchor Borrower Programme where it got over N700 million in 2020.

Adegoke noted that the impacts of the funds could not be over-emphasised, saying that those who benefitted had started paying back.

He also commended the FG through the federal ministry of Agriculture for  its various programmes to 10 cocoa producing states on rehabilitation and regeneration of cocoa plantations.

He enjoined government at all levels to show more support for cocoa in order to strengthen its productivity beyond average of 250,000 metric tonnes, unlike Ghana and Ivory Coast that produced one million metric tonnes and  and 2.5 million metric tonnes respectively.

Adegoke said that the CFAN House was built to further strengthen the administrative capacity of the association to serve cocoa farmers better. (NAN)

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Business & Economy

Tinubu Welcomes Nigeria’s Removal from FATF Grey List, Pledges Continued Financial Reforms

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President Bola Ahmed Tinubu
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President Bola Ahmed Tinubu has welcomed the removal of Nigeria from the Financial Action Task Force (FATF) grey list, describing it as a major milestone in the nation’s economic reform and global credibility drive.

The FATF, the world’s foremost body for combating money laundering, terrorist financing, and proliferation financing, announced Nigeria’s delisting on Friday at its plenary session in Paris, France.

The decision formally removes Nigeria from the list of countries under increased monitoring, following the nation’s successful completion of its FATF Action Plan after over two years of sustained reforms and inter-agency coordination.

In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu said the development reflects Nigeria’s progress in strengthening its Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.

“Rather than treat our placement on the grey list in 2023 as a setback, we saw it as a call to action,” the President said. “This delisting is a strategic victory for our economy and a renewed vote of confidence in Nigeria’s financial governance.”

The President credited the achievement to far-reaching legal, institutional, and operational reforms implemented under his administration through the Nigerian Financial Intelligence Unit (NFIU), in collaboration with the Attorney-General of the Federation, the Minister of Finance and Coordinating Minister of the Economy, and other key ministries.

Tinubu commended the Director/CEO of the NFIU, Ms. Hafsat Abubakar Bakari, and her team for their diligence and professionalism, as well as the contributions of several ministries, agencies, and private sector representatives who participated in the National Task Force on AML/CFT.

He also acknowledged the support of international partners including France, Germany, the United Kingdom, the United States, the United Nations, and the European Commission, for their technical assistance throughout Nigeria’s reform process.

President Tinubu assured that his administration will sustain and deepen the reforms that led to the country’s delisting.

“This is not just a technical accomplishment,” he said. “It marks the beginning of a new chapter in our financial reform agenda as we continue building a system Nigerians and the world can trust.”

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Lagos Tops 2024 State Revenue Ranking with ₦1.26 Trillion — NBS Report

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Lagos State has retained its position as Nigeria’s highest internally generated revenue (IGR) state in 2024, according to a new report released by the National Bureau of Statistics (NBS).

The report, published on Monday via the NBS X handle, revealed that the 36 states and the Federal Capital Territory (FCT) collectively generated ₦3.6 trillion in 2024, marking a 49.7 per cent increase from ₦2.43 trillion recorded in 2023.

Lagos led the chart with ₦1.26 trillion, followed by Rivers with ₦317.3 billion, and the FCT with ₦282.36 billion. Ogun and Enugu States completed the top five with ₦194.93 billion and ₦180.5 billion, respectively.

The bottom five states on the list were Adamawa (₦20.29 billion), Taraba (₦17.46 billion), Kebbi (₦16.97 billion), Ebonyi (₦13.18 billion), and Yobe (₦11.08 billion).

Other states that made the top 10 include Delta (₦157.79 billion), Edo (₦91.15 billion), Akwa Ibom (₦75.77 billion), Kano (₦74.77 billion), and Kaduna (₦71.57 billion).

The NBS noted that the sharp increase in overall IGR reflects growing fiscal efforts by states to boost their internal revenue base amid declining federal allocations.

 

 

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FG Launches Free Financial Education Programme for 100,000 Youths 

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The Federal Ministry of Youth Development, in partnership with Investonaire Academy, has commenced registration for a nationwide financial education programme designed to train 100,000 Nigerian youths annually in financial literacy, entrepreneurship, global trade, and investment.

In a statement signed by Omolara Esan, Director of Information & Public Relations, the Ministry said the initiative reflects its commitment to equipping young Nigerians with the skills to navigate today’s complex financial landscape, enhance employability, and foster sustainable wealth creation.

The programme will provide participants with exposure to global asset classes, including commodities, gold, equities, and foreign exchange, as well as training in risk management, portfolio development, and wealth-building strategies.

Successful candidates will receive industry-recognised certificates to support career advancement and entrepreneurial opportunities. Training will be delivered via an interactive Learning Management System (LMS), incorporating gamified learning, simulations, quizzes, and real-life trading scenarios. Physical sessions will begin in Abuja before expanding nationwide.

The programme is open to students, NYSC members, entrepreneurs, job seekers, and young professionals across Nigeria’s 36 states and the FCT.

Registration is free and currently ongoing via www.investonaire.org.

 

 

 

 

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