Category: Economy

  • FCT Senator Advocates Stronger Partnership Between Nigeria and China in Tea Production

    FCT Senator Advocates Stronger Partnership Between Nigeria and China in Tea Production

    By Michael Onjewu, Abuja

    Senator Ireti Kingibe, representing the Federal Capital Territory (FCT) has called for a stronger partnership between Nigeria and China in tea production.

    Speaking at the 2024 Chinese Tea Ceremony in Abuja on Tuesday, Senator Kingibe emphasized the significance of tea culture in fostering economic growth, cultural diplomacy, and mutual understanding between nations.

    According to Senator Kingibe, Nigeria has untapped potential in tea production, with its fertile lands and diverse resources offering a unique opportunity for investment and cooperation. She noted that the possibilities for investment in tea production, tourism, and cultural exchange could help diversify Nigeria’s economy, empower local communities, and showcase the country on the global stage.

    The Senator also highlighted the importance of tea culture in promoting cross-cultural understanding and people-to-people diplomacy. She emphasized that the Chinese tea ceremony, with its emphasis on harmony, respect, and mindfulness, could serve as a model for fostering greater cooperation and understanding between Nigeria and China.

    Senator Kingibe commended the organizers of the event for their vision and dedication to promoting tea culture and fostering Nigeria-China cooperation. She expressed hope that the event would ignite lasting partnerships, inspire innovative solutions, and pave the way for a brighter future of shared prosperity.

    In his remarks, Yang Jianxing, Cultural Counsellor of the Chinese Embassy in Nigeria said China is the birthplace of the tea tree and the first to cultivate tea as a beverage over 3,000 years ago.

    He explained that the evolution of tea in China has led to the development of six major categories: green, yellow, black, white, oolong, and processed tea.

    Yang described the Chinese tea ceremony as an art form that embodies both preparation techniques and a philosophical spirit that promotes moral cultivation and harmony between humans and nature. He noted that tea culture, which originated in China, has spread globally through the Silk Road, becoming a cherished tradition in many countries.

    Earlier in his remarks, Phil Roberts, President of the Chinese Tourism Promoters and convener of the event said his goal is to use tea ceremonies to promote unity, strengthen bilateral relationships, and help individuals tap into the economic potential of tea.

    The event also featured the unveiling of the China-Africa Tourism Expo, which aims to serve as a platform for trade and collaboration in the tourism sector between China and Africa.

    “We want to create a space where African innovations meet Chinese expertise,” Roberts said.

    Held at the China Cultural Center in Abuja, the event brought together dignitaries, business leaders, and cultural enthusiasts from both countries, providing a platform for networking, collaboration, and mutual understanding.

     

  • Over 100 Companies to Participate in Abuja China-Africa Trade Expo

    Over 100 Companies to Participate in Abuja China-Africa Trade Expo

    By Michael Onjewu, Abuja

    The organizers of the China-Africa Economic and Trade Expo have announced details for the upcoming event, scheduled to take place in Abuja from November 28 to November 30, 2024.

    This trade expo will not only showcase a broad range of products but will also place significant emphasis on Chinese engineering technology.

    According to a statement from the organizers, over 100 companies are expected to participate in the trade exhibition, the second of such in Africa after an earlier one held in Nairobi early this year.

    The organizing committee, which includes more than eight agencies affiliated with Hunan Province in China and the Nigerian Federal Trade Agency, confirmed that the expo will be held at the Abuja Trade & Convention Centre.

    “The theme of this year’s expo is “China and Africa Joining Hands for a Better Future” and will feature a series of activities across multiple sectors, including investment and trade, infrastructure, healthcare, and engineering machinery.

    The Opening Ceremony and the China-Africa Infrastructure Cooperation Forum (Nigeria) will commence at 10:00 AM. This forum will address the opportunities and challenges in China-Africa infrastructure cooperation, facilitating in-depth discussions on critical topics such as infrastructure connectivity, innovative investment and financing models, green and sustainable development, and business transformation. The forum aims to bring together stakeholders for meaningful exchanges and cooperation, promoting the signing and implementation of key projects.”

    Following this, the China-Africa Business & Healthcare Matchmaking Conference will take place from 3:00 PM to 5:30 PM.

    “This event will introduce leading enterprises from Hunan and present the investment and trade environment in various African countries through representatives from African chambers of commerce, investment promotion agencies, and businesses.

    Key focus areas will include healthcare, new energy, manufacturing, construction materials, textiles, fisheries, and infrastructure development, facilitating “one-on-one” discussions between Hunan enterprises and African business associations.”

    On the first day of the expo, there will also be an exhibition showcasing engineering technology from Nigeria and China, which will continue until the final day. The exhibition will feature nine distinct areas, highlighting products in: New energy, Architecture (building hardware), Machinery (construction machinery & agricultural equipment), power transmission and transformation), Home Appliances & Furniture, Manufacturing, Pan-infrastructure, Circular Economy, and Comprehensive Area.

    With robust support and collaboration from various stakeholders in both China and Africa, the China-Africa Economic and Trade Expo has successfully hosted three sessions, establishing a new platform for local economic and trade cooperation. The third session of CAETE, held in Changsha, Hunan, in June 2023, covered 100,000 square meters and resulted in 120 signed projects valued at $10.3 billion. Over 1,700 exhibitors from Chinese and African enterprises, business associations, and financial institutions participated.

    In May 2024, the inaugural China-Africa Economic and Trade Expo in Africa took place in Nairobi, resulting in 43 signed projects worth $1.402 billion.

    Signed:

    Zhang Ji
    Secretary, China General Chamber of Commerce in Nigeria (CGCCN)

  • CSOs Hold Regional Dialogue on Fiscal Resilience for Oil-Producing States

    CSOs Hold Regional Dialogue on Fiscal Resilience for Oil-Producing States

    By Ogenyi Ogenyi, Uyo

    Policy Alert, in partnership with the Natural Resource Governance Institute (NRGI) and BudgIT Foundation, has announced a regional stakeholders’ dialogue aimed at bolstering fiscal resilience in the Niger Delta amid the global energy transition.

    In a statement issued ahead of the event, Tijan Bolton Akpan, Executive Director of Policy Alert, expressed concern over the region’s heavy dependence on federal transfers. Despite being Nigeria’s oil and gas hub, the Niger Delta faces increasing fiscal challenges as the world shifts towards renewable energy.

    Akpan noted:
    “This dialogue aims to address these challenges and foster a resilient future for the region, building on insights from Akwa Ibom State, which has served as the pilot for research on fiscal resilience amid the energy transition. The energy transition places the Niger Delta at a crossroads. States in the region remain overly dependent on federally distributed oil revenues, at a time when the world is beating a retreat from fossil fuels.”

    The event will explore strategies for subnational governments to navigate fiscal risks brought about by the energy transition. It aims to equip stakeholders with actionable recommendations to mitigate fiscal shocks and seize opportunities to build a more sustainable future.

    Tengi George-Ikoli, Senior Officer at NRGI, emphasized the urgency of the matter, stating:
    “The global energy transition is a key moment for fossil fuel-dependent economies like Nigeria, particularly for states in the Niger Delta that heavily rely on oil revenues. As the world steadily moves away from fossil fuels, these states face economic uncertainty and the urgent need to rethink their fiscal strategies.

    “This dialogue is a step toward ensuring that Niger Delta states are not left behind but instead emerge as leaders in harnessing the opportunities of a low-carbon future. We look forward to Akwa Ibom State’s leadership in adopting policies that can serve as a model for other oil-producing states.”

    The event will bring together government officials, civil society organizations, community leaders, and young people to foster collaborative discussions and develop practical solutions to enhance the region’s fiscal resilience.

    The dialogue is expected to set the stage for actionable reforms that will enable oil-producing states to adapt to the energy transition and chart a path towards sustainable development.

  • FG Does Not Interfere in Our Data Reports, says NBS

    FG Does Not Interfere in Our Data Reports, says NBS

    Michael Onjewu, Abuja

    The National Bureau of Statistics (NBS) has stated that the federal government, led by President Bola Tinubu, does not interfere in its data reports.

    The declaration aims to dispel concerns regarding the integrity and impartiality of the statistics released by the bureau.

    The NBS is tasked with providing periodic statistical data on critical aspects of Nigeria’s economy, including inflation rates, poverty levels, corruption indices, Gross Domestic Product (GDP), and unemployment rates.

    Prince Adeyemi Adeniran, the Statistician General of the Federation and CEO of the NBS said the bureau has never been pressured by the government to manipulate national figures for political gains.

    Speaking at a media sensitization workshop on the Nigerian Living Standards Survey (NLSS) 2022/23 and the rebasing of the GDP and Consumer Price Index (CPI), held at the NBS headquarters in Abuja on Thursday, Adeniran stated that the data released are the result of a systematic and ongoing process, independent of any political agenda.

    READ ALSO: We are Rebasing GDP and CPI to Reflect Current Economic Realities – NBS

    “When the results come out, we are often surprised by assertions that they favour the new government. This work began long before anyone even knew who would be running for office,” he said.

    Adeniran addressed the common misconception that statistical reports are politically motivated, citing the multidimensional poverty index released in November 2022, which reported that 133 million Nigerians were multidimensionally poor. He noted that both the current government and opposition parties have used this data to support their narratives, highlighting the challenges faced by the NBS in managing public perception.

    The Statistician General reiterated that the NBS operates as a professional entity, independent of political influences.

    “We are not politicians; we are committed to producing accurate data that reflects reality,” he stated.

    Adeniran expressed hope that continued dialogue between the NBS and the media would foster a better understanding of the data production process, leading to more accurate and objective reporting.

    “We are here to engage and explain our processes, ensuring that you have the information needed to report effectively,” he added.

  • NBS Calls for Media Collaboration in Data Reporting

    NBS Calls for Media Collaboration in Data Reporting

    By Michael Ojewu, Abuja

    The National Bureau of Statistics (NBS) has called on the media to collaborate with the bureau, particularly in the areas of data production and reporting.

    Prince Adeyemi Adeniran, Statistician-General of the Federation and Chief Executive Officer of the NBS made this known during a media sensitization session on the Nigerian Living Standards Survey (NLSS) 2022/23 and the rebasing of the Gross Domestic Product (GDP) and Consumer Prices Index (CPI), held at the NBS headquarters in Abuja on Thursday.

    “As critical partners in the data production process, we want the media to become a strong voice and advocate for the work being done within the Bureau and the broader statistical system in the country. We expect your reporting to be accurate, objective, and sound, which will help build public confidence and trust in our work,” he said.

    The Statistician-General pointed out that the NBS views engagement with the media as an essential aspect of the data production process, aligning with the United Nations fundamental principles of official statistics, particularly accountability and transparency.

    “By fostering this collaboration, we enhance the credibility of the statistical system and build confidence in the NBS. This approach also promotes inclusivity, collaboration, and partnership throughout our data production processes,” he noted.

    “On our part, we are committed to remaining objective, open, transparent, and professional in our work, as these qualities are the foundation of our role as the national statistical agency. Our door will always be open for clarity, input, and valuable suggestions aimed at enriching our work.”

    NBS REBASES GDP, CPI, CONDUCTS NLSS SURVEY

    Addressing the topics of GDP and CPI rebasing, as well as the NLSS, the Statistician-General explained that CPI rebasing involves updating the weight and price reference periods to better reflect current consumption patterns, while GDP rebasing entails replacing an outdated base year with a more recent one, which improves the accuracy of measuring economic growth.

    Daybreak Nigeria reports that the GDP measures the total value of goods and services produced in a country while the CPI measures the average change in the prices paid by consumers for goods and services over a period of time.

    Adeniran noted that periodic rebasing, conducted every five years, helps account for structural changes in the economy over time and offers a more accurate snapshot of its composition.

    The Statistician-General also announced that the NBS conducted the Nigerian Living Standards Survey (NLSS) for 2022/23 to generate a national poverty headline rate and other essential indicators related to household welfare, consumption, and expenditure.

    He noted that the NLSS is conducted every four to five years, with the last round completed in 2018/2019, which reported a poverty rate of 40.1 per cent. He stressed that data collection for the survey spans a year to capture seasonal variations in household consumption and expenditure.

    “Households whose total consumption of both food and non-food falls below a certain threshold are classified as poor,” Adeniran stated.

  • Nigeria, China seal $3.3B Brass Industrial Park deal

    Nigeria, China seal $3.3B Brass Industrial Park deal

    By Lucy Omakpo

    Nigeria and China have signed a $3.3 billion deal to develop the Brass Industrial Park and Methanol Complex in Bayelsa State.

    The Director of Information and Public Relations of the Federal Ministry of Finance, Mr. Mohammed Manga, disclosed in a statement on Friday that the deal was signed on the sidelines of the Africa-China Conference in Beijing.

    He said the “transformative project” was expected to significantly boost Nigeria’s industrial output and generate vital employment opportunities.”

    The director described the deal as a reaffirmation of the two nations’ “commitment to deepening economic cooperation, strengthening bilateral ties, and fostering sustainable development.”

    “The inaugural China-Nigeria Economic Cooperation and Trade Conference, held alongside the 2024 Forum on China-Africa Cooperation (FOCAC), has set the stage for unprecedented collaboration and growth between the two countries,” he added.

    The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, was said to have underscored the significance of South-South cooperation, highlighting its pivotal role in Nigeria’s sustainable development goals.

    Mr. Edun emphasised President Bola Tinubu’s dedication to fostering a business-friendly environment to attract increased investment, particularly in key sectors such as infrastructure, energy, and industry.

    Infrastructure development—a cornerstone of the China-Nigeria partnership—was said to be a major focus of the discussions.

    Both nations reiterated their commitment to joint infrastructure projects, including roads, bridges, and energy systems, aimed at accelerating industrialisation and driving long-term economic growth in Nigeria.

    Financial and security cooperation also took centre stage, with both countries agreeing to enhance intelligence sharing to combat money laundering and financial crimes.

    “This marked a critical step toward ensuring a secure and transparent financial environment, laying the groundwork for continued economic collaboration,” Mr. Manga said.

  • Agema Establishes More Tax Offices For BIRS To Improve Revenue Generation

    Agema Establishes More Tax Offices For BIRS To Improve Revenue Generation

    By Isaac Kertyo, Makurdi

    The Executive Chairman, Benue Internal Revenue Service, BIRS, Mr Emmanuel Agema, has established additional tax offices for the service across the state to improve revenue generation.

    Mr Agema who underscored the importance of having more functional offices, noted that they were necessary for easy accessibility to taxpayers, save cost of transportation, save time and energy of taxpayers among others.

    In a statement by the Media Assistant to the Executive Chairman, BIRS Jacinta Bernard, quoted his Boss as stressing further that the establishment of the new offices will bring more people to the tax net to enhance revenue generation for the state.

    According to the statement, the Chairman understands and feels the concerns of taxpayers, promising to be more committed to ensuring efficient and effective service delivery.

    The newly established tax area offices include; Hugh, Jato Aka, Kyado, Tor Donga, Otukpo EUPI and motor license office in Gboko for registration of vehicles and renewal papers.

  • AfDB’s Institute Moves to Provide Solutions to Africa’s Debt Crisis

    AfDB’s Institute Moves to Provide Solutions to Africa’s Debt Crisis

    By Sam Akanimo

    African Development Bank’s (AfDB) African Development Institute has launched African Debt Managers Initiative Network (ADMIN), a new programme to provide home-grown solutions to the continent’s debt challenges.

    The inauguration and first peer learning event took place in Addis Ababa under the theme: Developing and Deepening Domestic Debt Markets in Africa.

    AfDB’s Director, Coulibaly Abdoulaye, said the network will provide tailored and home-grown solutions to the continent’s debt challenges.

    He said the network will also strengthen the debt management capacity of African countries’ officials and institutions to rapidly resolve the debt challenges faced by these countries, restore macroeconomic stability and support inclusive growth, as well as promoting the exchange of experiences among debt managers in regional member countries.

    The newly appointed African Development Institute Director, Eric Ogunleye, said that the growing financing needs for infrastructure development, poverty reduction, mitigating climate change, and tackling insecurity are driving African countries to increase their borrowing, further increasing debt vulnerability.

    He said rising debt vulnerability and weak debt management capacity in many African countries have continued to worsen macroeconomic outcomes and hamper effective policy responses to shocks, exacerbating debt distress in some countries.

    “There is, therefore, a growing need to strengthen debt management capacity in African countries”, Ogunleye told participants.

    As of 30 April 2024, of the 38 African countries for which debt sustainability assessment data are available, 13 countries are at high risk of debt distress and 6 are already in debt distress, Ogunleye said.

    A larger share of African debt is now owed to external bondholders and creditors outside the Paris Club who deal directly with debtor countries; this high-cost debt imposes a significant burden of debt servicing on African countries averaging 18 percent of total government revenue, he explained.

    The meeting underscored how developing an African domestic debt market has been identified as a way in which the continent can develop cheaper and more stable sources of debt financing for its many development needs.

    Discussions focused on sound debt management frameworks, networking, and peer learning to support the development and deepening of domestic debt markets in Africa to promote debt sustainability.

    Former Director of Debt Management at South Africa’s National Treasury, Johan Krynauw, encouraged African countries to work more closely together to promote knowledge-sharing and support each other on debt management issues.

    “In recent years, there have been many institutional initiatives from outside the continent to help African countries. The question is always why it did not work, and why we still have public finance and debt management problems today”, Krynauw said.

    Africa has reached a stage where it has enough skills, knowledge, and experience to determine what works for its countries.

    “Context matters and we need to find solutions to local problems. That was one of the reasons the initiative was created for public debt managers in Africa to work together. The question has always been where African debt managers can work together”, Krynauw said.

    Jean Yves Naka, Director of Research and Strategy at the Bourse Régionale des Valeurs Mobilières or BRVM, the regional stock exchange of the West African Monetary Union, underlined the importance of domestic markets.

    “Debt vulnerability remains a major challenge for African countries, especially in achieving development goals such as the United Nations Sustainable Development Goals and the African Union’s Agenda 2063(link is external). However, the development of the African domestic debt market is one way to better address the situation”, he said.

    The session was attended by debt managers and heads of debt management offices in Africa, capital market operators, commercial bankers, and regulators, including securities and exchange commissions and central banks. They shared practical ways to develop and deepen domestic debt markets on the continent and offered lessons for countries that have either nascent or no domestic debt markets to consider how to develop or deepen them.

  • Stakeholders set to X-ray Nigeria’s Renewed Digital Economy Agenda

    Stakeholders set to X-ray Nigeria’s Renewed Digital Economy Agenda

    By Joy Osaji

    Key stakeholders in the country’s digital economy sector are set to converge at the forthcoming Policy Implementation Assisted Forum (PIAFo) to dissect and stimulate effective implementation of Nigeria’s renewed agenda for digital economy.

    PIAFo, now in its sixth edition, is slated for Wednesday, July 10 at Radisson Blu Hotels, GRA Ikeja, Lagos, with a thematic focus of: “Accelerating Collective Prosperity through Technical Efficiency”.

    According to the organisers, the strategic plan of the Federal Ministry of Communications, Innovation Digital Economy (FMCIDE) released recently by the federal government is the anchor policy for the forum as the strategic plan embodies Nigeria’s digital aspirations.

    They noted that the current digital economy footprint puts Nigeria on track to attain many targets in years to come; adding that since PIAFo is an initiative designed to drive policies to fruition, the forthcoming conference underscores the need to leverage effective dialogue among relevant stakeholders to achieve the targets.

    As such, the Honourable Minister of FMCIDE, Dr. Bosun Tijani is billed to deliver the keynote address while the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida and the Chief Executive Officer of Galaxy Backbone Limited, Prof. Ibrahim Adeyanju would make paper presentations.

    Various other captains of industry are also prepared to champion dialogue at the forum by speaking to different topics and participating in panel sessions, according to the organisers.

    Speaking on the forthcoming event, the Lead Executive at PIAFo, Mr. Omobayo Azeez, emphasised the need to ensure that the targets spelt out in the various digital economy policy documents do just remain on the pages of the papers.

    According to him: “There are many targets before us and achieving them within the stipulated timelines is central to the aspiration of Nigeria to unleash a digital ecosystem essential for efficient modern economies, enhanced business operations, smart public services, and job creation.

    “This is why we are devoting this year’s edition of PIAFo to this course to create a midpoint dialogue platform for digital economic policymakers, private sector players and relevant local and international bodies to cultivate coordinated efforts towards achieving the targets.”

    Currently, Nigeria has standing targets of 70% broadband penetration rate by 2025; 80% population coverage by 2027; up to 500% increase in broadband investment by 2027; 22% increase in net GDP contribution; 100% surge in telecoms revenue to the coffers of the federal government by 2027; 50% improvement on Quality of Service by 2024 ending; and reduction in unserved population in rural areas to 20% by 2027.

    Other targets include 100% increase in the number of startups that have access to incentives in Nigeria; 100% increase in the number of tech-enabled startups with access to procurement opportunities in Nigeria; ranking among top 50 countries in AI and creating over 50,000 jobs in Nigeria’s AI industry by 2030; attaining 70% digital literacy for youths and adults by 2027 and up to 40% women participation across all training initiatives; among others.

    Powered by Business Metrics Limited, PIAFo has remained a platform that receives massive participation from players within the public and private sectors, international community, interest groups and Civil Society Organisations (CSOs) at every edition dedicated to creating conducive policy environment in Nigeria.

  • Revolutionizing Agriculture for Economic Diversification: Niger State in Focus

    Revolutionizing Agriculture for Economic Diversification: Niger State in Focus

    By Sampson Ikemitang

    Over the years, successive governments to address the dwindling resources accrued from Agriculture, had implemented various policies and programmes; geared towards increasing food production and reviving agriculture for sustainable growth and development of the nation. For instance, the National Accelerated Food Production Programme (NAFPP), an agricultural extension programme was initiated in 1972 during General Yakubu Gowon regime. The programme was intended to bring about a significant increase in the production of maize, cassava, rice and wheat in the Northern States. It was later replicated in other States of the federation.

    Other agricultural development interventions at the time include Operation Feed the Nation (OFN), established by General Olusegun Obasanjo in 1976; the Green Revolution (GR) created by Shehu Shagari in 1980; National Fadama Development Project (NFDP), launched in 1990; the Nigerian Agricultural Land Development Authority (NALDA) established in 1992 and National Special Programme of Food Security (NSPFS), launched in 2002, amongst others.

    It will be recalled that before Nigeria’s independence in 1960, agriculture was the mainstay of the nation’s economy. Available data show that the contribution of agriculture to the country’s Gross Domestic Product (GDP), at independence in 1960 stood at 60 per cent. This is typical of developing agrarian nations.

    However, soon after the discovery of oil in the 1970s and the eventual ‘oil boom’, agriculture assumed a downward trend. Indeed, between 1970 and 1980, agricultural production stagnated at less than one per cent annual growth rate, at a time when the country’s population growth was between 2.5 to 3.0 per cent per annum.

    Suffice it to say that in the recent past, there has been a sharp decline in export crop production while food production increased only marginally, owing to some form of neglect for agriculture. This neglect has been accentuated even in our secondary school curricula where agriculture which was hitherto, mandatory has suddenly become optional for students. The implication therefore is that the domestic food supply had to be augmented through large imports. As such, achieving food security through self-reliance and self-sufficiency for the country, as it were, has remained a pipedream; better still, wishful thinking. This is not good enough for a country that is on the threshold of global competitiveness.
    Determined to reverse this ugly trend, turn around the fortunes of the people, and ostensibly return the State to the path of economic recovery and prosperity, the Niger State Governor, Mohammed Umar Bago has made agriculture one of the major focuses of his administration. He believes that the nation’s agricultural sector has enormous potential not only to ensure food availability for the nation but also to lift millions of people out of poverty, thus improving their living conditions.

    That explains why the Niger State Government under his headship, has recently procured billions of naira worth of agricultural equipment and has also taken delivery of them, to diversify the agricultural value chain and scale up agricultural production, in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu led administration on food security. Among these agricultural equipment received include 500 large capacity tractors, 500 harvesters of varying capacities, 200 power tillers and 1000 different agricultural and irrigation equipment.
    The programme christened ‘Total Agricultural Support Programme’ (TASP) in partnership with Campo Company of Brazil is engaging in a specialized agro support programme with the Niger State Government. The airport city free zone programme which would be the biggest in Africa, according to the governor, would focus on the processing of fresh farm produce such as vegetables, fruits, and dairy products and move them from the State to other States of the federation, as well as exporting to other countries through the zone’s ecosystem.
    The Governor made this disclosure recently at the International Airport Minna while conducting National leadership of the Nigerian Union of Journalists (NUJ), Comrade Chris Isiguzo around the newly acquired agricultural equipment by Niger Foods at the airport which has been completed and awaiting official flag-off by President Bola Ahmed Tinubu.

    He said the project would prevent people from consuming blood meat but frozen meat as well as discourage the transportation of cattle out of the State. Niger State as we may be aware, sells an average of half a million cattle to Nigerians and people outside Nigeria daily. Therefore, the desire to boost the production of livestock will certainly lead to expansion and eventual diversification of the nation’s foreign exchange earnings, through the production and processing of export crops. The Bago-led administration is committed to providing farm inputs like agrochemicals, high-yielding seeds/seedlings, and irrigation systems not only to government establishments but also to individuals at no cost. This is intended to make agriculture attractive to all and sundry.

    According to him, “This is going to be the biggest in Africa. This is an airport-free zone. There is a special agro-processing zone in the airport where you will have fresh vegetables, fruits and foods leaving here for everywhere in Nigeria and abroad”.
    Continuing: Bago said, “We are bringing about 140 kilometres of water irrigation to this place from Shiroro Dam, and these are the people that are doing it. They are from outside the country and they are ready for the work. We are bringing 80 megawatts of power to the airport city project and we are going to attract a lot of investment to Niger State”.

    “There will be a power holiday for industries that want to set up here. We can give them free-zone energy. We are housing 400 hydropower dams. We subsidize 60 per cent of the total energy consumed in Nigeria.
    “So we are asking for 13.5 per cent derivation from the federal government on the power we are generating so that our people can now benefit from what we are doing”, Gov. Bago stated.
    On his part, the National President of the Nigerian Union of Journalists (NUJ), Comrade Chris Isiguzo, commended the governor for this laudable initiative, noting that the project would reduce overdependence on oil revenue.

    According to him, “If you go around the airport, you can see that it can compete with any other airport in Africa, and that shows that the government has invested so much in this airport, which is supposed to be federal, but the State, through this hardworking governor, has taken it upon itself to embark on this massive work.

    His words: “We have looked at the governor’s idea of putting in place an agro-processing zone, a free trade zone if you like, that will operate within the airport, and that is a very great idea, an initiative by the governor. This way, the consumption of red meat and blood meat would have been a thing of the past. This is a very good thing.
    “Before now, we were dependent on oil, there was a need to diversify and that is what the governor has done by focusing on agriculture”, he added.
    Meanwhile, President Bola Ahmed Tinubu while flagging up the airport city processing zone project and commissioning of the remodelled International airport yesterday in Minna, charged other State Governors to convert all ungoverned spaces into mechanized farming. This, he said, would not only ensure food security for the nation but also generate employment for the teeming youths as well as clear banditry.

    Given the foregoing, one can safely conclude without any fear of contradiction that the country will experience a remarkable agricultural revolution, if two-thirds of the States of the federation i.e 24 States with comparative advantage in agriculture, given their expanse of arable land, will dare to venture into mechanized agriculture.

    Unarguably, investing in agriculture is the way to go. It will not only create employment and ensure food security for the country but also feed Africa and the rest of the world. Now that Gov. Bago is blazing the trail in agriculture, let other State Governments borrow a leaf from his laudable initiative, intending to lift people out of poverty, thus taking our dear nation to the imaginary land of promise –Eldorado.

    Sampson Ikemitang writes from Nigeria Integrated Water Resources Management Commission, Abuja