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lHEGl.JAAD1AN, Wednesday; August8.,20I2


'Nigeria to save N40bn forex from cassava inclusion policy' S10ries RnseIIne Okerl

NTERNATIONAl Instirute of Tropical Agrirulnm (UTA) has said that the SUCl"eSSfui impl~ menlation of the 40 per cent cassava !lour inclusion policy of bread production would saYe the country over S252 million (N40 billion) in foreign



lITA said In a statement made available to The Guardian on Monday that the Initiative \vould concommltamJy Improve the earnIngs of cassava fanners and Increase employment gener· adon in the country: Meanwhile, the Oyo State Government has lauded

efforts by researchers at the International Institute of Tropical A£r1culrull! (IITA) In succes.sfulry produdng bread with 40 percent cassava [Jour that has similar qualities as 100 per cent wneat flour bread. ~Ve would like to commend IITA for the Inciusion of high

quality cassava flour in bread. This Is a great breakthrough,~ the Pennanent Secretary, Oyo State Mlnlsuy of Agriculture, Mr. Isaac Adeduntan. said during a courtesy call by IITA's Deputy Director General of Partnerships and CapaCity

Bulldmg. Dr Kemon Dashiell, to the agricultural miniStry. Adeduntan said mat the innovation would ha ve a positive impact on the llvelihoods of resource-poor fanne rs. and crute wealth wim a spln-(lff effect on job creation for youths. Beyond the use of composite flour In baking, the rourtes)' visit idendfied areas of cofia boration between IITA and the Oyo State Government.. The Commissioner for Agriculture, Mr Bimbo Kolade, specifically sought IITA's help in promoting cassava, maize and yam, as the state embarks on a nansfor-

d e:ecropscatalysu of develollmenL "ror us. as a state, we have Identified cassava. yam. rr aize, cocoa, oil palm, horticul!uralcrops,andcashewas CIOI1$ that Will drive the agricultural transfonnatlon of U· I.' ;tate,' Kolade said.. ~ In the next four to five Y"ars, WI.' want people to IdentifyOyo state with these DOllS. We believe that with Ir "'A we should be the first In cessava production.~ he added. In his response, Dashiell said d:e ;milestone achieved in the Use of composi~ flour in blead was a collaborative effoijl between IITA and pan-

A ·m,_~.o;.~~'(oio~ ! ;."_m_,.oO·m.~ .."~l~Tba"nl "'.<-o s .n•.-

agric funding 'THE organisers of the fonn.

Hariooal Presidfl1l. Halionai Cashew Associalion of Ni&cria (liCAN), loLa Faseru (left): Minisler af Aoitulnn, Akinwuml Adesina (middle) 3Ild 1l1li Ha1iona1 /'uIJIiI: R.tI:llio1u Officer. NeAN . Anp So1DIIYIl, I I 1iMI Nl&1Irian cast-1ndusI1Y hnsfannalian held in t....gDS.

UNIDO harps on economic diversification in Africa ,-,.I E Director-General of the ~ United Nations Industrial Development Organisa tion (UN lOO) said thaI agribusi· ness and agro-lndustr1es and «onomic diversification were key factors that would put NI~er1a and other African counrneson the road to pros()('rity. ~Agr1culture is the most impornm seaor of the ACncan economy and will have [Q be iu driving engine OUI of poveny. lt accounu for 65 percent of the continent's


also urbanising at a fast rate. In order to lurn bright prospectS into employment opportunities for Its young people, Africa needs to embrace economic diversifi.. cation,~ said DIrec[Qr-

General, Kandeh K. YumKella. He made this statement while giving a keynote speaker at the AfrIca caucus Meeting in the capital of the Democratic Republic of Congo. The orner keynote speaker was lustin lin, the fonner chier economist and senior vice president of the World Bank, who is working with UNlOO for several weeks as a senior strategic adviser. Yumkella also said it was necessary [Q boost agriculrural productivity in the continent In order to achieve sustainable industria.l and agrtbuslnes.s development as a means of wealth and job creation. 'ille (ransfonnation of agricultu ral raw materials Into Industrial products

depends Increasingly on the capacity of African entrepreneurs to participate and compete in global. reg;\onal and loca l value diains. .... ccordlngly. African agribusiness value chains will have to adapt to changing market conditions, condnuously Improve effidency and strive to meet consumer requiremenu in a competitive globill trade system: saidYUmkella.. HI.' added, -high performance agribUSiness value chains need to be based on processes that guarantee the highest product quality In a challenging global market· place. "i\fr1ca needs new I~rnlng and innovation systems Involving regional cooperation, new types of partner-

ships betwttn fanners, sellers. investors and researchers, and the right Incentives and public anions that crowd-In rather than crowd-out privatI.' investment.~

He urged African countrl ~ to strategically Invest in infrastructure. transport access to energy and Woller. leTs and management emciency In order Tor agribusiness to thrive. ·Without decisive action towa rds « onomlc diversification, improvemenu in agri· cultural productivity and Increased resources. water and energy efficiency, the creadon of'decent' employment opporrunities to address the fast growing population and urbanization trends will not be possible: said Vumkella.

BoI lists success of intervention funds on economy ....,..E Bank of Indusrry (Bol) ~ has has started the disbursement of the N535 billion Invested by the Central Bank of Nigeria (CBN) In debenture srock for lending to the real sector of the econ-


According to BDl. the NS35 billion is made up of N100 billion for the power and aviation sectors and N235 billion for the refinancIn~restrucruring of banks' existing loan portfolJos to the manufacturing sector. 5peaking on the Impact of Intervention fund at the Biannual National dialogue organised by the Nigerian Association of Chambers of Commerce, Indusuy, Mines and Agriculture (NACCIMA) in Lagos, the Executive Director, Operations of the Bol, Mohammed Alkali listed the purpose of the fund to Include improving acc~s to credit to manufacturers,

Improving the financta.i pod.. tlon of the participating banks. increaSing output, generating employment. diversifying the revenue base, [ncreasing foreign exchilnge earnings and providing Inpuu for the IndustTlal sector on a sustainable basis. According to Alkali, about N942 million has so far been disbursed to 21 projects in the power sector. ''WIth the Intervention, mOil! than 500

r~~~~n beth~fittr:n~~t~~

InRlsmall and medium entersector with the followng status, "projects In opera· tion Improved on their capacity utilisation by about 20 per cent and continue to sustain their operation after the Intervention. ~U ncompleted pro/"", numbeJ1ng 10 were ab e [Q complete and commence operat.ion thereafter. Five


stalled projects under Imple- the development of the automentation were completed motive Industry s ub-sector and now operational. Staff of lhe Ni~erlan economy. -It origmated from the nvo strength Increased from 86,S13 to 96,441 after the per cent levy on all imported Intervention. vehicles, auto<omponents, Turnover Increased from spare partS and raw materi· Nm.19 billion ["0 N22J.16 als brought in for the autoafter the Intervention: he motive sub-sector. stated. "Since inception of the fund , a sum of HI.' added that as at !ulr.'" 2012, sixty applicat ons NI8,097,696,87S.87 has bet':n amounting to N54.70 billion received from NAC and the had been approved, out of size of the panlollo of pro}which N41.10 billion dis- ects currently being manbursed to projects aged by BOI Is about since the Inception of the N8,SO.756,270.5S ( rl.'VOlvIng~ Conon Textile and Gannent Speaking on the state of scheme.. manufacturing sector, the He sUte<!, "In pursuance of Bel chief said that the proIts mandate and responsibili- longed econ9mk recession ties, the National Automotive occasioned by' the collapse of Council (NACJ set up a fund the world 011 market from known as the NAC....O Fund; the early 1980 and the attenvide the Managed Fund dant sfiarp fall In foreign Axree:ment of March 12,2004 exchange earnings have v.ifth which It also appointed adversefy affected economic growth and development in 001as the fund manager. The NIIC-AD Fund alms to achieve ·Nlgeria..

~ co mlng Agrlculrural Exhibition have emphasised the need for Nigerian banks and other financial instiru· dons (0 Invest In agricultural finandng to enable the subsector contribute to me countrYs Gross Domestic Product (CDP)growm rate. They urged the banks to take advanta~e of me forthcomIng Agnculrural Exhibition (Agrikexpo) to showcase and promote their leadership position In agric financing products. Agrikexpo, being orj'l:anised In collaboration with the Federal Ministry of ','cullUn', Roderal Mlnlsuy o Water Resources ani! National .... gency fo r Food, Orugs, Administratio n and Control (NAFDAC).lsalmed at givi ng all inves[Qrs in agribusinesses an opporrunl. ty to boost (heir buslnes~ and produa offerings. The Chief Executive Officer, A1Q Capital Umited, one of the organiser of the evem, Uzo Nwankwo statt!d in a medl.ii statement mat banks

mllS"~ rue U!? to the challenge of harn~lIlg windows of oppt,rtunity created by the Ceiltral Sank of Nigeria by shm.:c.a.sing products geared to\\lilrds agricultural fadlities. According to him, a~kex­ po " 'ould auran L'le ~t of stakf.holders Inagro busineSses, most of whom, are already locking forward to anending th(·e-Jl!nt. He>aJd the d~ill!oftheCBN to >ee ( 0 a deepening of the agli(-finance value chain must bf. compl emented by banks itS th~ seek .bUSiness relmonships with fanners, an,] urgM the banks to let faLlI~rs know what products wue available and tale direct fee:iha.cks from them during thf ~othlbllion. Chris Ogbechle of the Lagos Bu ~llIes~ School (LBS) affirned. -the Agrikexpo is an 0Plxrtunlty not only for ballk; but for even 011 compa· nil.'. 10 showcase their corporat~ ~oda l responsibility concerm ill suppOrt of the Pre>io]ent Goo(iluck Jonathan administration's food securi· ty j:'Il>gr.lmme for the nadon. ~

...---_..__...._,....,,--Dangote cement expansion drive excites Tanzanian govt 'T"'I"IE Pan African expansion of

1 Dangote cement ptc operations on the continent has received the suppons of the government and people of 1aro.mJ.a who pledged to give all neassary assistance to the cement manufacturing COInpany to ensure the timely compleoon of the cement project in the East African rounoy Wife of the President of Tanzania. Salma Rashid IQicwete who conveyed the message at Dba/ana Cement Plant during her tour of the fanory. expressed appreciation of he.r people to Dangore Group for extending its panAfrica ope ra tions to her countI)t She said the people of Tanzania were happy that such a project was bei ng undenaken on an African soil byanAfrican, adding that the President of the Group deserved all the encoulOlgements to ensull! condnuous growth of his businesses. A LSmtpa cement plant Is currently being constructed by the Dangote Group In Tanzania and Is expected to be completed next year. . After being conducted round the IO.25mtpa plant with her entourage which Included me Tanzanian

amb.l.Sydor to Nigeria, Dr_ Msu), Mang<lchi, Mrs Kikwete eXJlro$sf'd surprise at the gigalltic nature of the plant noung thal it was commendable that an African country is hosting lhe single largest. cemf nt plant in Afiica. -:1ie decision of Alhaji Danl!ote to build cement In Afric1n countries is commenclable. We thank him for brinl~ ng cement plant to "TIlIlumla which is producing belowdlimestlcdemand.. Sh ~ er.umera[ed the beneflu h~ (ounny would drive from th~ establishment of mect'mentpla.m In hercoun· try. s.l ylng It will provide job opponunitles and lead to econlJrni: development. ! he described Alha]1 Dangote as a strong supponer 01 community development and then caned on him to pa..."""U1er wim her countrYs gavel nmen[ to seek area of murua.J cooperation. Kikwele used the occasion (0 im roduce her pet prolect. WaiTLl Foundation, wnJch Is dedicated to promotion of community development, access [ 0 quality education through provision of scholarship', Improved health care faCilities and other anion plan for the locals..


'Nigeria to save N40bn forex from cassava inclusion policy'

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