News

Nigeria Won’t Face Food Crisis, FG Replies IMF

Published

3 years ago

November 22, 2022

Editor

Nigerians should not be afraid of any form of food crisis, the Federal Government said on Monday, as it kicked against the projections of the International Monetary Fund.

It stated that several measures had been put in place to forestall the scarcity of food in Nigeria, stressing that there was no need for panic among citizens across the country.

On Monday, The PUNCH quoted the International Monetary Fund as saying Nigerians should brace up for higher food prices/risks in 2023 due to recent floods and high fertiliser prices.

But the Federal Ministry of Agriculture and Rural Development opposed the position of the global financial institution, as it provided a document detailing what the FMARD had done and was doing to avert such a crisis.

“People shouldn’t be afraid of any food crisis. The minister has explained this and so people should not express fear about their (IMF) projections,” the Director, Information, FMARD, Joel Oruche, told our correspondent.

In the document on the Long/Short Term Measures to Ameliorate the Disruptions of Food Production and Supply in Nigeria, the ministry said it was implementing various interventions to mitigate the anticipated disruptions occasioned by the recent floods.

The FMARD said it had distributed “assorted food commodities from the Federal Government strategic food reserve to the vulnerable and flood victims through the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.”

It added, “Distribution of early maturing seeds (wheat, rice, maize, sorghum, cassava cuttings), fertilisers, agro-chemicals and agro-equipment to affected crop farmers across the country.

“Distribution of subsidised agricultural inputs (fertilisers, certified seeds and agro-chemicals) to affected wheat, rice and maize farmers for dry season farming under Agricultural Transformation Agenda Phase 1 and Public Based Operations across the 36 states and Abuja.”

The ministry said brooded broilers for restocking of affected smallholder poultry farms had also been distributed nationwide, adding that the mass vaccination of animals to prevent incidents of disease outbreaks that usually occurred after flood disasters was currently ongoing.

The FMARD further stated that it was collaborating with the Federal Ministry of Interior to improve security on farms through the deployment of agro-rangers across the country.

It said the government had approved five-year tax break as an incentive to encourage private investments in the agricultural sector and increased food production, processing and marketing.

“Restocking of the strategic food reserve with 200,000 metric tonnes of assorted food commodities,” it stated.

It added, “There is the engagement in land preparation in collaboration with the state and Local Governments to open more land and take advantage of residual moisture for dry season farming,” among others.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

5 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

5 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

7 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.