NIRSAL Boosts Nigeria’s Participation in $67bn Global Cocoa Market Dike Onwuamaeze The Managing Director and Chief Executive Officer of the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending Plc (NIRSAL), Mr. Aliyu Abdulhameed, has
stated that the organisation is committed to enabling Nigerian cocoa farmers to benefit from the $67 billion global cocoa market. He gave this commitment during a tour of the ADT Russet Limited, in Apapa,
Lagos State, which is a beneficiary of N1.5 billion facility from the Keystone Bank that was guaranteed by NIRSAL. He said: “In a move that will help Nigeria benefit from the over $67 billion global
cocoa market, NIRSAL has provided ADT Russet Limited– a cocoa bean sourcing and exporting company in Lagos State – with 50 per cent Credit Risk Guarantee (CRG) on a working capital facility of N1.15 billion.”
He stated that NIRSAL favours the value chain approach to financing agriculture. According to him, the pull-and-push power of the midstream segment – where ADT Russet operates – can
impact pre-upstream and upstream operators, as well as downstream markets. He added that by financing the ADT Russet, suppliers of seeds, agro-chemicals, and Continuedon page 12
NNPC Rakes in N1.088tn Revenue in Five Months... Page 10 Monday 5 July, 2021 Vol 26. No 9573. Price: N250
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Concern Mounts over Lawmakers’ Plan to Rig 2023 Election Ahead of Time Draft electoral bill mandates INEC, security officials to take oaths of neutrality, loyalty To swear not to accept bribe Party member that seeks appointment into INEC risks jail term Nomination of unqualified candidate attracts N10m fine Chuks Okocha and Udora Orizu in Abuja Concerns mounted yesterday over what social critics called attempts by federal legislators to rig the 2023 general election ahead of time through the manipulation of the Electoral Amendment Bill 2021. Many critics who spoke to THISDAY pointed specifically
at Section 50 (2) of the draft bill, whose consideration begins tomorrow at the National Assembly, which bars electronic transmission of results. In fact, about 22 Civil Society Organisations (CSOs) have raised the alarm over the alleged plan by the National Continued on page 12
PIB: Abia, Delta, Edo, Ondo Groups Demand Review of 3% Fund Adibe Emenyonu in Benin City, Okon Bassey in Uyo, Sylvester Idowu in Warri, Emmanuel Ugwu-Ogo in Umuahia, and James Sowole in Akure
Groups from oil-bearing communities in Abia, Delta, Edo and Ondo states have demanded an upward review of the three per cent host
communities’ fund approved in the Petroleum Industry Bill (PIB), which was passed last Thursday by the National Assembly. Clause 240 of the draft bill had proposed five per cent of the annual profit of the oil companies for host communities. Continued on page 12
ON THE DIPLOMATIC PLANE... Chairman, THISDAY/ARISE Media Group, Prince Nduka Obaigbena (left), and French Ambassador to Nigeria, Mr. Jerome Pasquier, when the Ambassador hosted the Media Leader at his Abuja residence…weekend
Chief of Army Staff Hails Troops for Quelling Insurrection in South-east...Page 5