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Heritage Bank, GEZAWA set to transform Nigeria’s agric sector to huge commercial hub

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5 years ago

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…Emerges Lead Settlement Bank, Transaction Adviser

The Nigerian agricultural sector is set to witness a huge growth, as Heritage Bank Plc the lead settlement bank for Gezawa Commodity Market (GCMX) has collaborated with key stakeholders to revolutionise agricultural value-chain, aimed at providing fully integrated ecosystem for commodity Exchange.

Heritage Bank was appointed as the Lead Settlement Bank and Transaction Adviser to the Gezawa Commodity Market and Exchange Ltd and Memorandum of Understanding (MoU) was signed between the two firms, whilst over 10, 000 farmers in 3000 cooperatives in the 44 local governments of Kano States were hosted.

The partnership between Heritage Bank and the Exchange would facilitate the ease of agro commodity trading in a more structured way, especially with the closeness to the Dawanu, the largest grain market in Africa.

The MD/CEO of Heritage Bank Plc, Ifie Sekibo, who was a panelist at the 2nd GCMX Farmers’ Cooperative Forum in Kano at the weekend, stated that the partnership is targeted to de-risk the sector that would bring about structured and enhanced agro-business and attain food security that leads to economic development.

Sekibo, who was represented by the Executive Director, Jude Monye explained that the partnership which would help bridge the huge gap associated to risk, will fast track effective price discovery mechanism and traceability and enhanced trade settlement services.

Specifically, the bank’s helmsman stated that under the Central Bank of Nigeria’s Anchor Borrowers Programme (ABP) and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Heritage Bank would provide on-lending funding to aggregated farmers in the 2020 farming season to grow various products that will serve as raw materials to the processors, thereby ensuring market linkages and access to the market as well as reduce importation and conserve Nigeria’s external reserves.

According to him, with its assigned position  Heritage Bank would play a pivotal role in ensuring that there would be an effective and readily available platform for market linkages among players in the agribusiness value chain, involving FMCGs, warehouse operators, collateral managers, processors, farmers’ cooperatives to transact in a seamless way that guarantee quality, quantity, payment and delivery.

Speaking the event, the ED/CEO of Nigerian Export Promotion Council (NEPC), Segun Awolowo affirmed that the initiative would help foster diversification of non-oil export trade.

He, however, stated that NEPC would ensure that the primary for the signing of the MoU would be achieve, whilst calling for the need to ensure adequate and seamless supply of agricultural commodities for the business to be sustainable.

The Gezawa Project Consultant, Binchang Binfa, Managing Director of Makarios Global Resource, disclosed, “the ultimate goal was to unlock the vast potential of agricultural value chain via partnerships and synergy with likeminded enterprises, organisations and institutions that will mutually create wealth, generate local employment and contribute significantly to the economic growth and GDP the nation.”

He stated that the Exchange would provide services on price discovery and transparency, increase foreign exchange earning capacity, commodity storage and warehouse receipt system, employment generation of 15, 000 direct and indirect jobs, investment opportunities, increase in non-oil export, ease of doing business, weather report, soil test report, as well as 24/7 online trading of commodities on alive trading platform. 

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Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Director General NSC, Bar. Bukola Olopade Extends Christmas Greetings to Christians in Abeokuta South and Across Nigeria

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10 hours ago

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December 21, 2024

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Director General NSC, Bar. Bukola Olopade Extends Christmas Greetings to Christians in Abeokuta South and Across Nigeria

Director General NSC, Bar. Bukola Olopade Extends Christmas Greetings to Christians in Abeokuta South and Across Nigeria

 

 

By Solanke Ayomideji Taiwo

 

 

In a heartfelt message, The Director General of the National Sports Commission (NSC), Honourable Bukola Olopade, has extended warm festive greetings to Christians in Abeokuta South, Ogun State, and across Nigeria as the nation embarks on the joyous celebration of Christmas.

 

Director General NSC, Bar. Bukola Olopade Extends Christmas Greetings to Christians in Abeokuta South and Across Nigeria

 

Recognizing the significance of this time of year, Olopade emphasized the essence of unity, love, and gratitude that the Christmas season embodies. He urged citizens to reflect on the virtues of compassion and generosity, which are particularly vital in fostering peace and harmony in communities.

 

 

 

“Christmas is a time for joy, reflection, and togetherness. It reminds us of the values of love and kindness, which are fundamental to our social fabric,” said Olopade. “As we celebrate this festive season, let us remember those in need and extend a hand of support to one another.”

 

 

The Director General of the National Sports Commission (NSC), Honourable Bukola Olopade, acknowledged the challenges that many have faced over the past year, including economic hardships and social unrest, yet he expressed optimism for the future. “In the spirit of Christmas, let us embrace hope and look forward to a brighter tomorrow. Our unity and resilience can overcome any challenges we face.”

 

 

 

Olopade also highlighted the importance of sports in promoting peace and national unity, noting that the NSC is committed to fostering an inclusive environment where all Nigerians can participate in sports and recreational activities. He encouraged communities to engage in sports events during the festive period as a means to strengthen bonds and celebrate togetherness.

 

 

 

As part of his Christmas message, Olopade called on everyone to prioritize the welfare of others, particularly the less fortunate. He urged individuals and organizations to consider charitable acts that can uplift those in need during this season of giving.

 

 

 

In closing, Bar. Bukola Olopade wished all Nigerians a Merry Christmas filled with love, peace, and joy. He expressed hope that the spirit of the season would inspire a renewed commitment to community service and cooperation among citizens.

 

 

 

As the festivities continue, the Chairman’s message resonates with the values of compassion, unity, and hope, encouraging all to celebrate the true meaning of Christmas.

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OGSTEP Empowers Over 15,000 Artisans and Traders with Skills Development

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15 hours ago

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December 21, 2024

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OGSTEP Empowers Over 15,000 Artisans and Traders with Skills Development

The Ogun State Economic Transformation Project (OGSTEP) has successfully trained over 15,000 artisans and traders as part of its ongoing skills development initiative under the Ogun State Skills Fund (OSF).
This was disclosed by the Skills Development Specialist, Engr. Adesegun Fatoki, during a stakeholders’ meeting held at the Obas’ Complex, Oke-Mosan, Abeokuta. He revealed that the training program recorded 6,605 participants in Vocational/ICT skills, 4,989 in Entrepreneurship, and 5,288 in Functional Literacy Training.
Engr. Fatoki explained that the OSF training is designed to equip participants with the knowledge and skills to effectively manage their income and businesses. “So far, over 4,000 beneficiaries have completed their training in the first batch, while the second batch is currently underway across various trades. The third phase will target market women, artisans, and traders, bringing the initiative closer to grassroots communities,” he stated.
He encouraged artisans, market women, and traders to register for the ongoing third batch of the training by visiting www.osf.ogunstate.gov.ng. He assured that the program focuses on demand-driven skills and operates at various training centers across the state.
Emphasizing the government’s commitment to the program’s success, Engr. Fatoki reassured stakeholders that the initiative is non-partisan and designed solely for the benefit of market women, artisans, and traders.
In response, representatives of various groups expressed gratitude to the state government for the initiative and pledged to mobilize their members to take part in the training.
Speaking earlier, the Project Gender Specialist, Mrs. Ewajesu, highlighted the program’s goal of empowering artisans and traders with critical skills to thrive in today’s competitive economic landscape. She explained that the training also improves participants’ literacy and business management capabilities, enhancing productivity and strengthening the state’s economy.
Mrs. Ewajesu urged participants to make the most of the opportunity, noting that the skills acquired would position them for greater success in their respective trades.
The meeting was attended by representatives from the Remo, Ijebu, Yewa, and Egba Traders’ Associations, who expressed optimism about the program’s positive impact on their communities.

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Ibadan Funfair Tragedy: Ooni’s Ex-Queen Hospitalised as IG Leads Probe into Stampede

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22 hours ago

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December 21, 2024

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Ibadan Funfair Tragedy: Ooni’s Ex-Queen Hospitalised as IG Leads Probe into Stampede

Ibadan Funfair Tragedy: Ooni’s Ex-Queen Hospitalised as IG Leads Probe into Stampede

 

The Inspector General of Police, Kayode Egbetokun, has taken over investigations into the tragic stampede at a children’s funfair in Ibadan, Oyo State, which claimed the lives of 35 children and left six others injured. The incident occurred when over 7,500 participants, far exceeding the expected 5,000, rushed to gain entry to the event.

The funfair was reportedly organised by Prophetess Naomi Silekunola, the former queen of the Ooni of Ife, in collaboration with Ibadan-based broadcaster Oriyomi Hamzat.

Naomi, who was arrested alongside Hamzat, reportedly collapsed on Friday and was rushed to the Police Hospital at Eleyele for medical attention. A senior hospital staff member confirmed the development, stating, “Both of them are currently at the hospital. The police have secured the premises, and no further details can be disclosed.”

Eight individuals have been arrested in connection with the incident, according to Oyo State Police Command spokesperson Adewale Osifeso. A police source revealed that the Inspector General of Police has now taken charge of the case, stating, “For further details, you’ll need to contact Abuja.”

Victims and Medical Response

The Chairman of the Medical Advisory Council at Adeoyo State Specialist Hospital, Dr. Adeoye Allen-Taylor, confirmed that four children remain on admission. He added that some casualties were brought in dead and that the Oyo State Government is covering all medical expenses.

At the University College Hospital (UCH), Ibadan, five fatalities were reported, though none of the bodies were taken to the hospital’s mortuary. The Public Relations Officer of UCH, Funmi Adetuyibi, confirmed the death toll.

Government and Public Reactions

In response, the Oyo State Government mandated strict safety measures for all public events, especially those involving children and the elderly. Commissioner for Information and Culture, Prince Dotun Oyelade, warned event organisers of severe penalties for compromising public safety.

Governor Seyi Makinde, describing the tragedy as “painful and preventable,” announced the cancellation of his December 25th birthday celebrations to honor the victims. “There will be no birthday celebration this year. I will remain indoors to reflect,” the governor stated while receiving a condolence delegation from the South-East PDP, led by Senator Adolphus Wabara.

Condolences from PDP and Fayemi

The South-West chapter of the Peoples Democratic Party (PDP) expressed its condolences to the Oyo State Government and families of the victims. PDP Publicity Secretary Chief Sanya Atofarati attributed the tragedy to economic hardships, which he said pushed families to seek free entertainment for their children.

Former Ekiti State Governor, Dr. Kayode Fayemi, also extended his sympathies, urging authorities to prevent similar incidents in the future.

The investigation continues, as authorities work to uncover the causes of the tragedy and ensure accountability.

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