Connect with us

General

Stanbic IBTC Re-echoes Support for Nigeria’s Agricultural Sector

Published

on

support agricultural sector

Stanbic IBTC Holdings PLC, a subsidiary of Standard Bank Group, has pledged to continue to provide support for key players and investors in Nigeria’s agricultural sector; especially in the area of funding.

Stanbic IBTC sponsored the Agric-tech youth empowerment Masterclass at this year’s edition of Social Media Week Lagos. The Masterclass held on Wednesday, February 26 at the Landmark Centre, Lagos.

Mr Wole Oshin, Acting Head, AgricBusiness, Stanbic IBTC Bank PLC, revealed that the financial institution is providing support for the agricultural sector through various intervention funds such as the Central Bank of Nigeria’s Anchor Borrowers Programme.

According to him, such interventionist projects are geared towards helping small scale farmers boost production of their agricultural commodities. He also noted that the initiative would aid small farmers to grow from subsistence production to commercial production level.

He said: “Stanbic IBTC Bank PLC is working closely with a lot of the fintech companies to also provide some of our financial solutions through the agricultural value chain”; adding that youths that are interested in making a livelihood out of agriculture should take advantage of such strategic partnerships.

Mr Oshin further reiterated the need to further deploy technology into agriculture to boost productivity with minimal human efforts. Illustrating his point, he said: “The maximum production of maize in Nigeria annually is less than five million metric tons, we can achieve more by deploying technology to support agricultural production.”

Other panellists at the masterclass were Segun Oworu, Digital Farming Project Lead, Bayer Middle Africa Ltd and Angel Adelaja-Kuye, Consultant to the Governor of Ogun State on Agriculture. The session was anchored by Aliu Iyanuoluwa, CEO/Co-founder, Myfarmbase Africa.

During the session, Dr. Angel Adelaja-Kuye stressed the need for participants to actively get involved in agriculture, noting that people can make money not only as producers of agricultural products but also by tapping into the vast opportunities that are available through the agricultural value chain.

Similarly, Segun Oworu told the participants to embrace technology, being an enabler, in agricultural production in order to spend less and make more profit.

The SMW Lagos is a week-long conference where experts from various sectors share insights, trends, and ideas to participants. This year’s edition kicked off on Monday, February 24, through Friday, February 28, 2020. It aimed at creating opportunities for Africa’s most innovative minds.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General

Easter Travel: FG Announces Partial Opening of Enugu–Onitsha Highway

Published

on

Enugu–Onitsha Highway

By Adedapo Adesanya

The Minister of Works, Mr David Umahi, has announced that motorists would begin using a crucial 15-kilometre section of the Enugu–Onitsha highway during the Easter period, describing it as a special intervention to ease travel.

Mr Umahi made the disclosure while inspecting the project in Enugu, expressing satisfaction with the quality of work and reaffirming the government’s commitment to delivering immediate relief to road users.

According to him, the section will be opened for use by the end of March, even if final touches such as road markings and median curbs are yet to be completed.

“We have directed the contractor to ensure that this stretch is accessible within the stipulated timeframe as part of efforts to reduce the burden on commuters,” he said.

The Minister emphasised that beyond short-term relief, the project is designed to ensure long-term durability, noting that the highway remains one of the most strategic transport corridors in Nigeria’s South-East.

He observed that roads in the region have long suffered from heavy congestion, frequent accidents, and poor pavement conditions, expressing optimism that ongoing reconstruction will permanently address these challenges.

Umahi linked the renewed infrastructure push to the commitment of President Bola Tinubu to the development of the South-East, while also highlighting the scale of inherited challenges in the sector.

He revealed that the federal government met outstanding road liabilities estimated at over N13 trillion across more than 2,000 projects as of May 2023, a situation he said has strained project delivery nationwide.

While acknowledging that delayed payments have slowed contractors’ pace of work, Umahi expressed confidence that progress would improve once funding issues are resolved.

“You cannot expect optimal performance when contractors are unpaid, but we appreciate their continued cooperation and trust in government,” he added.

The minister also commended Enugu State governor, Peter Mbah, for supporting the project, particularly in handling compensation for affected residents around the Abakpa flyover axis of the Enugu–Abakaliki highway.

He noted that the state government also facilitated the relocation of key infrastructure, including high-tension power lines and water pipelines, to ensure smooth execution of the project.

On his part, the resident engineer for the Enugu–Onitsha highway project, Mr Lawrence Ubi, confirmed that the 15-kilometre stretch is about 95 per cent complete.

He assured that the work meets required engineering standards and will be ready for public use within the agreed timeline, while appreciating the federal government’s continued support.

Continue Reading

General

3,200 African Entrepreneurs for 2026 TEF Entrepreneurship Programme

Published

on

2026 TEF Entrepreneurship Programme

By Modupe Gbadeyanka

A total of 3,200 African entrepreneurs across 54 countries will participate in the 2026 Tony Elumelu Foundation (TEF) Entrepreneurship Programme.

The beneficiaries were unveiled at the weekend, when the founder of the organisation, Mr Tony Elumelu, celebrated his 63rd birthday in Abuja.

Analysis showed that women accounted for 51 per cent of the cohort, which Mr Elumelu was proud of, saying it reflects merit-based selection and highlights the increasing leadership of African women in entrepreneurship.

“When opportunity is accessible, African women do not simply participate, they lead,” the philanthropist and chairman of Heirs Holdings, Transcorp Plc and UBA Group said.

The chosen business owners will each receive $5,000 in non-refundable seed capital, alongside access to mentorship, business training, and TEF’s proprietary digital platform, TEFConnect.

In his annual letter, Mr Elumelu emphasised that opportunity and prosperity can be intentionally created and scaled, saying, “Hope is not just a feeling, it is a system we can build”.

This underscores his long-standing belief in Africapitalism, the philosophy that Africa’s private sector must drive economic and social development.

Highlighting the programme’s growing impact, the Delta State-born businessman noted that the foundation has now disbursed over $100 million in funding to more than 24,000 African entrepreneurs since its inception. The programme continues to demonstrate strong outcomes, with 80 per cent of supported businesses scaling beyond the early stage, significantly outperforming global averages.

Collectively, TEF-supported entrepreneurs have generated over $4.2 billion in revenue, created 1.5 million jobs, and lifted more than 2.1 million Africans out of poverty, impacting over four million households across the continent.

Reflecting on the organisation’s journey since its launch in 2010, Mr Elumelu reiterated the vision to democratise opportunity and scale impact across Africa by investing in its most valuable resource, which is its people. He also expressed gratitude to partners, mentors, and stakeholders who continue to support the foundation’s mission of building a self-sustaining Africa.

Continue Reading

General

Kaduna Court Adjourns El-Rufai’s Corruption Case to March 31

Published

on

nasir el-rufai icpc

By Adedapo Adesanya

A Federal High Court sitting in Kaduna State has adjourned proceedings on the bail application of former Governor, Mr Nasir El-Rufai, to March 31, 2026.

The decision was made after Tuesday’s hearing, during which legal arguments were presented by both the prosecution and the defence.

At the court session, counsel to the defendant, Mr Ukpon Akpan, urged the court to grant his client bail, citing constitutional rights and the need to allow the former governor adequate time to prepare his defence.

However, the prosecution opposed the application, arguing that the charges against Mr El-Rufai are serious and that granting bail could interfere with ongoing investigations.

The former Kaduna State governor was arraigned by the ICPC over charges related to alleged corruption and abuse of office when he administered the North-Western state from 2015 to 2023.

Ahead of El-Rufai’s arraignment on Tuesday, security presence in the Kaduna State capital and around the court has been significantly heightened, with armed personnel stationed at key entry points to forestall any breakdown of law and order, as supporters and observers gathered outside the premises.

It was widely reported that coverage was restricted, with journalists barred from entering the courtroom to witness the proceedings.

The former governor was arraigned by the ICPC alongside Mr Joel Adoga before the Kaduna Federal High Court.

According to a statement issued on Monday by the commission’s Head of Media and Public Communications, Mr John Okor Odey, the arraignment follows charges filed under suit number FHC/KD/73/2026. The charges include alleged conversion and possession of public property, as well as money laundering.

In a related development, the ICPC has also filed a separate case against Mr El-Rufai and Mr Amadu Sule before the Kaduna State High Court in the Kaduna Judicial Division. The case, marked KDH/KAD/ICPC/01/26, contains allegations ranging from abuse of office and fraud to intent to commit fraud and conferring undue advantage.

The commission disclosed that both charges were instituted on March 18, 2026, as part of its ongoing efforts to enforce accountability and combat corruption.

While the arraignment at the Federal High Court is scheduled for Tuesday, the date for the hearing at the State High Court is yet to be announced and will be communicated in due course.

The ICPC further confirmed that the former governor has been duly served with the charges.

Continue Reading

Trending