Economy
Africa Urged To Prioritize Mechanized Farming
By Modupe Gbadeyanka
Limited use of improved technology is a major reason for low agricultural productivity across Africa, the African Development Bank (AfDB) has said at the ongoing African Green Revolution Forum (AGRF) in Nairobi.
“Low use of technology is partly why Africa continues to be a net importer of food ,” Chiji Ojukwu, the AfDB Director for Agriculture and Agro-Industry stated Tuesday, adding that over 60 percent of the continent’s land has irrigation potential, yet only five percent of it is under irrigation.
Speaking at a session on “Agriculture Infrastructure, Technology and Mechanization,” Ojukwu said it was impossible for Africa to be competitive while its farmers were still spending too much time tilling acres of land manually. “We cannot feed Africa with this kind of agriculture. We must mechanize. Mechanization of agriculture is imperative. Let us do what we can to push this agenda,” he stressed.
Statistics from the AfDB indicate that African farmers have 10 times fewer mechanized implements per farm area than farmers in other developing regions and access has not grown as quickly as in other regions.
Nigeria has embarked on a pilot project to provide tractors and fertilizer to farmers with the aim of boosting agricultural production. Abdullahi Abubakar, the Deputy Director for Engineering and Mechanization in the Federal Ministry of Agriculture and Rural Development, said his department has partnered with Agricultural Equipment Hiring Enterprises (AEHEs), and is currently working with 110 centres to provide services to smallholder farmers. “Mechanization makes the farmer more efficient, displacing unskilled labour and allowing the farmer to till a large parcel of land over a short time,” he said.
The African Green Revolution Forum saw the AfDB reiterate its commitment to supporting its regional member countries to create AEHEs, as well as providing concessional debts to be on-lent for equipment hiring and purchasing through commercial banks.
But most important, as with mechanization, is solving Africa’s water problem. Experts say the continent is facing diminishing water supplies, thus making irrigation a challenge. According to the World Bank, water scarcity can translate into growth-rates decline as much as 6 percent of GDP by 2050 as a result of water-related losses in agriculture, among others.
“Mechanization starts with water management,” said Patrick Nduati Mwangi, Principal Secretary in Kenya’s Ministry of Water and Irrigation. He cited the Government’s efforts to irrigate a 10,000-acre model farm in the arid coastal region in order to boost food security.
The use of Information and communications technology (ICT) was mentioned as pertinent to Africa’s agricultural transformation, and is seen as a tool to woo the youth into entrepreneurship in agriculture (‘agri-preneurship’).
“The youth are not finding agriculture interesting because there is a gap which needs to be filled by information. The youth can bridge this gap by utilizing applications that provide information on farming methods, disease control, soil improvement technologies and market opportunities,” Gift Mafuleke, a youth farmer from South Africa, told delegates.
Already the AfDB is rolling out its ENABLE (Empowering Novel Agri-Business Led Employment) Youth initiative, in partnership with the International Institute of Tropical Agriculture.
The program seeks to bolster youth entrepreneurship in agriculture and agri-business. The initiative will see the Bank train the next generation of agriculture entrepreneurs, also referred to as ‘agri-preneurs’, in several countries, and provide them with seed money through banks to finance their bankable business plans.
ENABLE Youth is also seen as an innovative initiative to address youth unemployment through agriculture. The initiative, under Feed Africa, the Bank’s Strategy for African Agricultural Transformation during the period 2016-2025, will embark on a number of approaches aimed at responding to the challenges of technology and mechanization.
These include: increasing investment to disseminate proven technologies for agricultural productivity improvement through the Technologies for African Agricultural Transformation initiative (TAAT); establishing a facility for on-farm mechanization leasing; investing in infrastructure and training to reduce on-farm and post-harvest losses; scaling-up and replicating innovative models to organize and aggregate farmers; accelerating and coordinating development of enabling hard infrastructure (energy, water, and logistics); building market centres and associated service infrastructure; and launching large scale farmer e-registration systems.
By Adedapo Adesanya
The federal government has imposed an immediate nationwide ban on the export of wood and allied products, revoking all previously issued licenses and permits to exporters.
The announcement was made on Wednesday by the Minister of Environment, Mr Balarabe Lawal, during the 18th meeting of the National Council on Environment in Katsina State.
Mr Lawal said the directive, outlined in the Presidential Executive Order titled Presidential Executive Order on the Prohibition of Exportation of Wood and Allied Products, 2025, became necessary to curb illegal logging and deforestation across the country.
“Nigeria’s forests are central to environmental sustainability, providing clean air and water, supporting livelihoods, conserving biodiversity, and mitigating the effects of climate change,” the Minister said, warning that the continued exportation of wood threatens these benefits and the long-term health of the environment.
The order, published in the Extraordinary Federal Republic of Nigeria Official Gazette No. 180, Vol. 112 of 16 October 2025, relies on Sections 17(2) and 20 of the 1999 Constitution (as amended), which empower the state to protect the environment, forests, and wildlife and prevent the exploitation of natural resources for private gain.
Under the new policy, security agencies and relevant ministries are expected to enforce a total clampdown on illegal logging activities nationwide.
On his part, the Katsina State Deputy Governor, Mr Faruk Lawal Jobe highlighted the state’s history of pioneering socio-economic policies that have influenced national policy. He emphasized the importance of collaboration in addressing environmental challenges across the country.
“Environmental sustainability is critical to achieving growth and improving the quality of life of our people,” he said. “Our administration has prioritised initiatives aimed at combating desertification and promoting afforestation.”
The ban reflects the government’s commitment to safeguarding Nigeria’s shrinking forest cover and addressing climate change, while ensuring sustainable use of natural resources for future generations.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.24 per cent on Wednesday, December 17, pulling the Unlisted Security Index (NSI) up by 8.62 points to 3,614.64 points from 3,606.02 points.
In the same vein, the market capitalisation added N4.72 billion to close at N2.164 billion compared with the N2.160 trillion it ended on Tuesday.
The growth was inspired by four securities, which finished on the gainers’ log, neutralising the losses printed by two other securities on the trading platform.
MRS Oil Plc gained N17.90 on Wednesday to end at N196.90 per unit versus N179.00 per unit, NASD Plc appreciated by 59 Kobo to N58.50 per share from N57.91 per share, FrieslandCampina Wamco Nigeria Plc added 15 Kobo to sell at N60.19 per unit versus N60.04 per unit, and Industrial and General Insurance (IGI) Plc rose by 6 Kobo to 64 Kobo per share from 58 Kobo per share.
On the flip side, Golden Capital Plc extended its loss by 76 Kobo to end at N7.75 per unit versus N8.51 per unit, and Central Securities Clearing System (CSCS) Plc slipped by 35 Kobo to N39.65 per share from N40.00 per share.
Yesterday, the volume of transactions increased by 737.3 per cent to 20.4 million units from 2.4 million units, but the value of trades fell by 33.8 per cent to N72.2 million from N109.1 million, and the number of deals slid by 62.5 per cent to 21 deals from 56 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc remained the most traded stock by value on a year-to-date basis with 5.8 billion units sold for N16.4 billion, the second position was occupied by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and the third place was taken by MRS Oil Plc with 36.1 million units worth N4.9 billion.
InfraCredit Plc was also the most traded stock by volume on a year-to-date basis with 5.8 billion units traded for N16.4 billion, followed by IGI Plc with 1.2 billion units valued at N420.7 million, and Impresit Bakolori Plc with 536.9 million units worth N524.9 million.
By Dipo Olowookere
A 0.26 per cent growth was achieved by the Nigerian Exchange (NGX) Limited on Wednesday on the back of sustained bargain-hunting by investors.
This happened despite a pocket of profit-taking, with industrial goods losing 0.63 per cent and the energy index shedding 0.05 per cent.
But the insurance space increased by 2.02 per cent, the banking counter appreciated by 1.48 per cent, the commodity sector improved by 0.48 per cent, and the consumer goods segment rose by 0.03 per cent.
Consequently, the All-Share Index (ASI) went up by 383.71 points to 149,842.82 points from 149,459.11 points and the market capitalisation jumped by N244 billion to N95.525 trillion from N95.281 trillion.
The market breadth index remained positive after the bourse finished with 38 price gainers and 23 price losers, indicating a strong investor sentiment.
The quartet of First Holdco, Lasaco Assurance, Veritas Kapital, and Prestige Assurance gained 10.00 per cent to quote at N39.60, N2.75, N1.76, and N1.65, respectively, while Mecure Industries grew by 9.92 per cent to N50.40.
Conversely, Living Trust Mortgage Bank lost 10.00 per cent to close at N3.15, International Energy Insurance dropped 9.92 per cent to trade at N2.27, McNichols shrank by 6.90 per cent to N2.97, Omatek decreased by 6.84 per cent to N1.09, and Chams dipped by 6.41 per cent to N2.92.
The activity level witnessed a significant surge at midweek, with Ecobank trading 5.3 billion units for N168.7 billion.
Further, First Holdco sold 108.2 million units worth N4.2 billion, Sterling Holdings exchanged 87.3 million units valued at N606.2 million, FCMB transacted 74.3 million units worth N783.6 million, and Access Holdings sold 41.5 million units for N841.4 million.
At the close of trades, market participants traded 5.9 billion units valued at N216.2 billion in 25,205 deals compared with the 1.0 billion units worth N21.8 billion traded in 23,701 deals a day earlier, showing a rise in the trading volume, value, and number of deals by 490.00 per cent, 891.74 per cent, and 6.35 per cent, respectively.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn