Economy
FG Vows to Safeguard Livelihoods of Farmers
By Modupe Gbadeyanka
Minister of Agriculture and Rural Development, Mr Audu Ogbeh, has disclosed that the Federal Government was committed to safeguarding the livelihoods of farmers across the country.
Mr Ogbeh made this disclosure in his keynote address at the 2017 Farmers’ Field Day and Seed Fair organised by the National Agricultural Seeds Council (NASC) in conjunction with SEEDAN and IITA.
The Minister said the event was aimed at enlightening farmers, students and other stakeholders on the benefits of using improved seeds as against the farmers “saved seeds” which is currently the prevalent practice in the rural farming communities.
According to him, “I understand that elite varieties from both the public and private sector are included in the entries being demonstrated. This is a good indication that the private sector has tapped into the favourable environment created by government in order to contribute its quota to increase agricultural productivity and food security.”
Mr Ogbeh further said, “This administration is committed to safeguarding the livelihoods of our farmers. As part of the measures taken to curb the menace of the unscrupulous seed merchants, I am delighted to note that the Seed Council, which has the statutory responsibility of enforcing the provisions of the seed law, has embarked on public enlightenment and sensitization programmes in collaboration with the Nigeria Security and Civil Defense Corps (NSCDC).
“Also seed law enforcement surveillance is mounted in all states of the federation, to ensure the availability of quality seeds to our farmers.
“These has led to confiscation of some poor quality seeds being sold in our markets and agro-shops which will be symbolically burnt today to send signals to the culprits that it is no longer business as usual.”
He described the Seed Fair and Farmers’ Field Day as unique, pointing out that it will enhance the production of maize, sorghum, soya beans, and other crops in this immediate environment of FCT and Nigeria at large.
The Minister charged participants to “take advantage of the lessons and benefits offered by this field day to adopt the use of improved quality seeds.”
Mr Ogbeh revealed that, “In the coming years, and budgets, we shall ensure that adequate provision is made for seed improvement for the benefit of our farmers and other stakeholders in the agricultural sector.
“Undoubtedly, as aforesaid, agricultural production/productivity begins with quality seeds and seedlings.
“In the same vein, poor seeds lead to poor harvest and poor harvest accentuates poverty, human misery and the unattractiveness of agriculture to our teeming youth.
“On the flip side of the coin is that higher yields not only lead to higher incomes but also improved quality of life and greater well-being of the citizenry. With higher yields, farmers can easily pay back their loans thereby improving both the credit administration system and the resilience of the agricultural sector to internal and external shocks.”
The Minister, at the event, noted that government policies have led to bumper harvest this year.
“It is noteworthy that government is boosting our agricultural exports by putting in place measures to facilitate zero reject of our agricultural exports. These include on-going sensitization tours to sensitize producers and processors to enable our agro-exports meet the prescribed international standards.
“Government has also embarked on aggressive dissemination of proven Agricultural technologies and training of farmers through massive extension programmes, thus the Federal Department of Agricultural extension is been directed to collaborate with NASC on dissemination of seed related technologies.
“I am happy to share with you that all these efforts. They are yielding positive results as evident in anticipated bumper harvest in this year cropping season. The National Bureau of Statistics has also recently reported that our economy is witnessing positive growth and GDP, attributable mainly to increased Agricultural productivity and exports, as well as other impactful policies of Government.
“Distinguished Ladies and Gentlemen, quality seed is paramount to enhancing agricultural productivity as it contributes more than 50% of increased crop productivity per unit area. It is not only the cheapest input, but it is the critical input in enhancing the efficiency of other agricultural inputs such as fertilizers, agro chemicals, irrigation and capital,” he said.
By Dipo Olowookere
Barbican Capital Limited, a financial services firm established by Honeywell Group, owned by a Nigerian businessman, Mr Oba Otudeko, has sold off its stake in First Holding Company (First HoldCo), formerly FBN Holdings, the parent company of First Bank of Nigeria Limited.
According to information from its website, “Barbican Capital holds a 15.1 per cent stake in Africa’s premier financial services holding company.”
In a notice to the Nigerian Exchange (NGX) Limited on Friday, First HoldCo disclosed that on Wednesday, July 16, 2025, Barbican Capital sold a total of 6,314,116,229 units of its shares at a unit price of N31.00, amounting to about N195.7 billion.
It was reported that the shares were sold to another billionaire businessman, Mr Femi Otedola, but fresh information suggests that they were acquired by the federal government through a trustee.
Mr Otedola and Mr Otudeko had been at loggerheads over the control of the financial institution, which led to a bitter boardroom crisis.
With the latest development, Mr Otudeko has exited the field for his rival, who controls about 15 per cent stake in First HoldCo.
With a long tradition of investing in financial services across Africa, Barbican Capital has played a significant role in the sector through various companies.
It once invested in Ecobank Transnational Incorpotated but still has stakes in pensions and investment banking companies.
On his part, with his background as a banker and one of the earliest qualified “professional bankers” in Nigeria, Mr Otudeko got into First HoldCo in 1994 after seeing value in the firm and its potential for transformation and growth.
That initial investment during the government’s privatisation drive of the early 90s started a journey that saw him grow the investment and subsequently join the board of the banking subsidiary in 1997, before becoming the board chairman in 2010. Two years later, he was the chairman of First HoldCo board and left the position 2021.
Millions of Nigerians who depend on cooperative societies for credit and savings are at growing risk of financial setbacks, as manual dues collection methods remain the norm across the country. A 2024 study from Nnamdi Azikiwe University (source) revealed that over 70% of cooperatives still rely on handwritten ledgers and informal cash contributions—leaving them exposed to defaults, disputes, and operational breakdowns. Even outright theft is not uncommon.
Cooperatives are vital financial safety nets for millions of Nigerians, especially in underbanked communities. But as default rates rise and reconciliation periods become chaotic, a growing number of cooperatives are reevaluating how they operate—and turning to technology for help.
“We use notebooks and WhatsApp to track payments,” says Iyabo Adebayo, treasurer of a 70-member women’s cooperative in Ibadan. “If someone misses their payment, it takes me days to follow up. Sometimes I just give up.”
This challenge isn’t isolated. The same 2024 study documented how manual tracking of dues and loans in staff cooperatives significantly reduced liquidity and increased the rate of defaults. During peak periods like June—when many cooperatives conduct financial audits—the consequences of poor tracking become more severe.
Recognising this pattern, a growing number of cooperatives are now implementing mandate-based systems like PaywithAccount, a direct debit payment tool developed by OnePipe. The platform enables members to authorise automated deductions for recurring dues, removing friction, improving predictability, and reducing administrative overhead.
“The moment we switched to a structured mandate system, collections became smoother,” says Emeka Chukwu, who oversees a transport workers’ cooperative in Enugu. “It gives us peace of mind. No more excuses.”
Speaking on the trend, Ope Adeoye, CEO of OnePipe, said this trend portends a deeper systemic issue. “When treasurers spend more time chasing payments than managing funds, the model begins to collapse. It’s encouraging to see more cooperatives adopting direct debit tools like PaywithAccount. The increase in uptake reflects a real need—people want structure they can trust, especially in these tough economic times.”
Industry experts believe such solutions could help stabilize grassroots finance. “When dues are predictable, planning becomes possible,” says Temi Adedeji, a digital finance consultant. “It means more loans issued, better savings discipline, and less stress for treasurers.”
As Nigeria’s cooperatives approach their mid-year audits and dividend planning cycles, the need for more resilient, automated collection systems is becoming harder to ignore.
Following the success of its debut season, Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings PLC, announces the return of the InvestBeta Game Show, with registration officially open.
The second season of the InvestBeta show builds on the first edition, aimed at equipping young Nigerians with real-world financial skills in a fun, relatable, and competitive format. The show’s first season, which aired in 2024, captured the attention of Gen-Z viewers across the country, blending entertainment with investment education in a way that had never been done before. With positive feedback, it proved that young Nigerians are ready to learn how to grow their money, and all they need is the right platform.
The new season reflects the Group’s broader youth-focused mission through Beyond Dreams, its dynamic community created for Nigerians aged 18–30. The community aims to help young people turn their aspirations into reality through secure, timely and smart investment choices. Since its inception, Beyond Dreams has grown to a network of over 90,000 young members, generated 2,100+ new investment accounts, and continues to position the Group as a trusted partner in the financial futures of Nigeria’s youth.
Busola Jejelowo, Chief Executive, Stanbic IBTC Asset Management noted InvestBeta reflects our deep commitment to financial education. She said, “We understand that today’s young people want more than just advice but practical, hands-on experience. This is why the InvestBeta game show is here to change how young Nigerians see money and what they can do with it.”
Entries are now open to eligible young Nigerians who want to be part of Season 2. Registration is free via the official link: https://bit.ly/StanbicIBTCInvestBeta. Successful applicants will be selected to compete in a series of challenges designed to test their knowledge, strategy, and creativity around real-life financial scenarios.
And for those who missed the first season, full episodes are available to watch on Stanbic IBTC’s official YouTube channel. From quick financial questions to investment tips, Season 1 offered real lessons with real impact, and Season 2 is gearing up to raise the bar.
To stay in the loop, follow @beyonddreamsng across all social media platforms and be part of the countdown to the second season of Nigeria’s most engaging youth-focused investment competition.
If you are 18 to 26, curious about how money works, and ready to build your future, this is your sign.
-
Feature/OPED5 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
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology5 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN