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Economy

AfDb Injects $134m Into Rice, Maize, Cassava, Soybean Production in Nigeria

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Soybean Production in Nigeria

By Adedapo Adesanya

The African Development Bank (AfDB) is supporting Nigeria in the cultivation of rice, maize, cassava and soybean to boost food production with the provision of $134 million to achieve this.

The president of the multilateral lender, Mr Akinwunmi Adesina, said on Saturday after visiting the Centre for Dryland Agriculture (CDA) at Bayero University, Kano, that the bank would support Nigeria to cultivate 300,000 hectares each of rice and maize, 150,000 hectares of cassava and 50,000 hectares of soybeans during the 2024 planting season.

The CDA is a World Bank-supported centre established to serve as a regional training hub for the West and Central Africa sub-regions. The university’s centre was established in 2012.

“This March, the AfDB is supporting Nigeria to cultivate 118,000 hectares of heat-tolerant varieties of wheat and another 150,000 hectares of maize.

“We live in an era of climate change and yet only three per cent of African agriculture is under irrigation. We have to make sure we help our farmers with information that is timely and appropriate.

“We have no alternative but to adapt to climate change; adopt better ways of using water, particularly in the cultivation of dry land crops that are more resilient and tolerant,’’ Mr Adesina said.

He added that AfDB would provide grants for the CDA and collaborate with it to become a centre used for the prediction of weather patterns and the gathering of information that would make farmers plan better.

“We will work with the centre to become one of the centres of excellence in technology.

“We will also support youths to develop their business ideas into reality with our $20,000 grant on Agri-Pitch and Agri-Hacking,’’ he said.

Mr Adesina commended the Vice-Chancellor of Bayero University, Kano, Professor Sagir Adamu-Abbas, and the Director, CDA, for assisting farmers with access to technology in the face of climate change.

In his remarks, the Director of CDA, Professor Jibrin Mohammed-Jibrin, said the CDA is renowned for its research and teaching in development initiatives, focusing on dry land agriculture.

“The centre is dedicated to improving livelihoods, resilience and sustainable use of natural resources in African dry lands through training and demand-driven research,’’ he said.

He added that the CDA had received several World Bank grants for research and had so far enrolled about 1,153 Doctorate and Master’s degree students and trained farmers in agro-ecological practices.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Economy

Dangote Empowers Farmers With Tools to Improve Productivity, Livelihoods

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dangote Farmers improve productivity

By Modupe Gbadeyanka

To boost food security in Nigeria, Dangote Fertiliser Limited, a subsidiary of the Dangote Industries Limited, has empowered farmers in the country with the basic knowledge and tools needed to have bountiful harvests.

The company made this possible through a comprehensive training programme targeted at more than one million farmers across the country.

This is part of the organisation’s commitment to supporting small businesses, agriculture, and job creation in Nigeria.

“This programme, integral to our agricultural extension services, encompasses spot demonstrations, result demonstrations, field demonstrations, and soil sample collections.

“The training is designed to educate farmers on best practices in fertiliser application, aiming to enhance crop yields and promote sustainable farming techniques.

“By providing hands-on demonstrations and soil analysis, we strive to empower farmers with the knowledge and tools necessary to improve their productivity and livelihoods.

“This programme shows our dedication to fostering agricultural development and economic growth in Nigeria,” Ms Fatima Wali-Abdurrahman, the Senior Adviser to the president of Dangote Group, Mr Aliko Dangote, said at the 2025 Nasarawa Trade Fair Exhibition in Lafia recently.

Ms Wali-Abdurrahman, represented by the company’s National Assembly Liaison Lead, Mr Shuaibu Abdullahi, noted that partnership with the Nasarawa state chapter of the Nigeria Association of Small-Scale Industrialists (NASSI) will help create awareness and scale up small businesses.

“I am pleased to inform you that in alignment with theme of this year’s Trade Fair, the Aliko Dangote Foundation and the Bank of Industry (BoI) had entered a Memorandum of Understanding (MoU) and established a N5 billion fund dedicated to supporting micro, small, and medium enterprises (MSMEs) across Nigeria.

“This initiative aimed to create at least one million direct jobs by providing financial support to entrepreneurs engaged in manufacturing, agro-processing, and the merchandising of goods made wholly in Nigeria,” she disclosed.

According to her, the deal has benefitted cassava processors, aluminium artisans, poultry farmers, calabash carving groups, small traders, cattle rearing groups, vegetable sellers, market women and artisan groups, among others.

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Economy

China Plans Duty-Free Access to Nigeria, Others

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chinese goods

By Adedapo Adesanya

The Chinese government has announced plans to grant Nigeria and 52 other African nations full duty-free access to its vast consumer market, as part of its policy shift set to reshape Africa-China trade relations.

The new trade initiative, disclosed by President Xi Jinping in a letter to African foreign ministers, will extend zero-tariff treatment to 100 per cent of tariff lines for all African countries maintaining diplomatic ties with the Asian giant.

The move builds on a previous policy that benefited only 33 least-developed African nations and is part of China’s broader strategy to deepen economic cooperation with the continent amid intensifying trade tensions with the United States.

The results are already being felt as Chinese exports to Africa surged 12.4 per cent in the first five months of the year, reaching a record 963 billion Yuan ($134 billion), according to China’s Foreign Ministry.

The implementation of this policy could allow all Nigerian goods, from agricultural produce and manufactured items to solid minerals, enter the Chinese market without the burden of import duties. It could also help drive Nigeria’s exports higher and drive revenue for the country.

The announcement comes at a critical time, as over 30 African countries, including Nigeria, face the risk of being excluded from the United States’ African Growth and Opportunity Act, a preferential trade agreement that once allowed eligible nations to export goods to the US duty-free.

For Nigeria, the proposed duty-free access could significantly boost non-oil exports, especially in sectors like agriculture, textiles, solid minerals, and manufactured goods, areas where the country has long sought to diversify.

China is also trying to boost its partnership with other regions as it faces increased scrutiny and a tariff war with President Donald Trump of the United States, who has alleged unfair trade practices. This led to hikes in tariffs between both countries until they were paused recently to allow for more negotiations.

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Economy

Sterling Bank Launches N2bn Scholarship for Private University Students

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Sterling Bank

By Aduragbemi Omiyale

An initiative to provide funding support to young Nigerians studying at private universities in Nigeria has been introduced by Sterling Bank.

The financial institution is offering N2 billion under a scheme known as Beyond Education.

Sterling Bank explained that it came up with this programme to build the country’s future leaders by dismantling the barriers that keep millions of Nigerians from accessing quality, future-focused learning.

It reflects the lender’s advocacy for organisations to shift from short-term philanthropy to long-term ecosystem development.

The Sterling Beyond Education programme will fully sponsor 600 students to study high-impact fields such as Technology, Finance, Sales, and Public Health.

It is open to young Nigerians from all 36 states and the FCT, with a merit-based and inclusive admissions process.

Candidates can nominate themselves or be nominated by others, and final selection will be determined through a public voting process open exclusively to Sterling account holders.

The pilot scheme is in partnership with Miva University, founded by renowned tech entrepreneur, Mr Sim Shagaya.

Fully accredited by the National Universities Commission, Miva is redefining higher education in Africa with scalable, affordable, and flexible programs tailored to the demands of the digital economy.

The chief executive of Sterling Bank, Mr Abubakar Suleiman, said, “Progress is not a spectator sport. While others talk about Nigeria’s potential, we are actively investing in it.

“These scholarships are direct investments in the architects of our future. We are funding the education of future leaders who will build the companies, systems, institutions and solutions Nigeria needs to thrive.”

“We’re moving beyond charity. This is about building systems that last and it is much bigger than hundreds of scholarships. It’s about the future those brilliant young minds will build for our country,” he added.

Also commenting, the Growth Executive for Retail and Consumer Banking Directorate at Sterling Bank, Obinna Ukachukwu, said, “This is what inclusive investment looks like.

“This initiative goes beyond access to education, it’s access to a future. Education remains the most valuable asset anyone can have, and we’re proud to stand behind young Nigerians as they claim it.”

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