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Makinde suspends revenue collection on agric produce to alleviate hardship

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…To subsidise land clearing, provide haulage trucks, tractors

Oyo State governor, ‘Seyi Makinde, has suspended the revenue collection on agric produce to alleviate hardship.

The Governor declared some far-reaching measures towards addressing the rising cost of food in the state, stating that his government will continue to do everything necessary to make life easy for residents of the state.

He declared that his government will move in to subsidise land clearing for farmers across the state with an initial sum of N600 million, with farmers now expected to pay N15,000 instead of N30,000 for land clearing, while the government will pay the balance.

The governor also declared an immediate suspension of revenue collection on farm produce marketed within the state for the next six months, noting, however, that agricultural produce taken out of the borders of Oyo State will attract necessary revenues.

Governor Makinde, who stated this on Wednesday, at a meeting with stakeholders in the agriculture sector, held at the Fasola Agribusiness Industrial Hub, Oyo, said the government would also provide tractors and haulage trucks for farmers, among other measures.

The governor, who said the state has disbursed N1billion to smallholder farmers through the Sustainable Action for Economic recovery (SAfER), also declared that the Agriculture Credit Corporation of Oyo State (ACCOS) loan support to farmers will no longer require a civil servant as guarantor, stating that farm associations will now guarantee their members to have access to the loan.

At the meeting, which had in attendance maize growers, cassava growers, rice processors, poultry farmers and traders across the state as well as officials of the Ministry of Agriculture, ACCOS and Oyo State Agribusiness Development Agency, the governor maintained that there was need for a brainstorming session to address the food security challenge facing the state.

Governor Makinde noted that though his government had done well in trying to stimulate and support the process of food security, with data showing that the state had made progress in terms of food production, it was worrisome that that progress had not been reflected in terms of food pricing.

He maintained that since the removal of fuel subsidy, his administration has been doing everything possible to make life easier for residents of Oyo State, including spending N77 million monthly to subsidise public transportation for 20,000 residents of the state on a daily basis, among other measures and that it would do everything possible to stem the tide of rising food cost.

He said, “I deliberately moved this meeting here because this place was established when agriculture used to be the mainstay of our economy.

“In Oyo State, we have been getting data on what we have been producing, which suggests that our production is on the increase but the prices of food stuffs are also increasing.

“As a government, we have also done quite a bit to stimulate and support the process of food security. It is either what we are doing is not enough or they are not being channeled to the right sources.

“So, our meeting here is not a talk-shop but to brainstorm on some issues and bring up solutions. I expect you to open up so we can tackle the problem we have on the ground.

“I have noted some few things from the points you all raised and there are few decisions we are going to take. The first one is the issue of revenue, because those in charge are compounding the problem of increment in prices of food stuff. For the next six months, nobody should collect any revenue and all the people involved should know that this takes effect immediately.

“We will set up a special line you can call when you have issues with recalcitrant revenue collectors who are not ready to abide by this pronouncement.”

The governor added, “We will provide an initial N600 million through the ACCOS to subsidise the cost of hiring tractors. The modalities of how our smallholder farmers can access this subsidy will be worked out and communicated to them. In total, we plan  to subsidise the clearing of at least 120,000 hectares this planting season.”

Governor Makinde, who also responded to different views from the agriculture stakeholders, including the dearth of agriculture extension services, cost of produce haulage and other issues, added that the Pacesetter Transport Services will, in the course of the coming weeks, be supported to have a fleet of haulage vehicles dedicated for the movement of farm produce across the state.

He equally set up a 10-man committee comprising agriculture stakeholders and government officials, with the mandate “to track the decisions we have taken here today so that six months down the line when we gather again to look at how far we have gone, it will be quite easy to track those things.”

He added, “You also said the extension workers were visible under OYSADEP but not visible again under OYSADA. It is because they are now under the Ministry of Agriculture.

“I asked the Commissioner why they are not active and he said there was no budget for them before he got into the office but there is a budget this year and there will be changes. But if we do not feel their impact, we will move them to OYSADA. What this means is, they have to be visible and contribute to the efforts we are putting into food production in the state.”

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Nigeria’s money supply dropped to N92.3trn in March – CBN

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Nigeria’s money supply dropped marginally to N92.3 trillion in March 2024 from N93.9 trillion in February.

This is according to recent data from the Central Bank of Nigeria.

Experts have linked the development to CBN’s hike in interest rates.

Demand deposits increased from N26.8 trillion to N28.8 trillion, suggesting a preference among depositors for more liquid forms of money.

Similarly, currency outside banks surged from N3.4 trillion to N3.6 trillion as more Nigerians moved towards cash following the end of the apex bank’s controversial new naira note policy.

The naira has continued to depreciate against the dollar despite the CBN’s policy intervention. On Thursday, it further dipped to N1533.99 per dollar.

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Naira appreciates against dollar, ends week on good note

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The Naira appreciated against the dollar at the foreign exchange market barely 24 hours after depreciation.

FMDQ data showed that the N1497.33 appreciated against the dollar on Friday

This represents an N33.66 gain against the dollar compared to N1497.33 traded on Thursday.

Similarly, at the parallel market, the Naira appreciated to N1475 per dollar on Friday from N1555 on Thursday.

This showed that the Naira ended the week well after days of depreciation.

The country’s currency continued to experience instability since mid-April when it recorded months of appreciation.

Meanwhile, the Bureau De Change Operators had blamed forex scarcity for the continued depreciation of Naira.

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Police dismiss inspector for N29.8m theft, kidnapping

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The Nigeria Police Force has dismissed one of its officers identified as Adabo Mohammed for criminal conspiracy and armed robbery, among others.

Mohammed, who was an Inspector, alongside five others was said to be a member of an armed robbery gang allegedly responsible for the stealing of N29.8 million from a victim in Gwagwalada, Federal Capital Territory.

This was disclosed by the Force Public Relations Officer, Olumuyiwa Adejobi, in a statement issued at the Force Headquarters in Abuja on Friday.

The statement, titled, ‘Police speak tough on indiscipline, misconduct,’ noted that in a move to uphold professional standards within the Force, the Inspector-General of Police, Olukayode Egbetokun, stressed the Force’s intolerance to any form of indiscipline.

The statement read partly, “In a decisive move to uphold the highest standards of professionalism and integrity within the Nigeria Police Force, the Inspector General of Police, IGP Kayode Adeolu Egbetokun, has emphasised his administration’s zero-tolerance policy towards any form of indiscipline. He stressed that the mandate of the police is to serve and protect with honour and integrity, and as such all breaches of the core values of the NPF will be met with decisive action to maintain public trust and ensure justice.

“In line with this policy, all cases reported against personnel have been creditably attended to, and justice has been done appropriately. Many of the erring officers have been sanctioned, while some cases are still at the orderly room trial level, and will soon be concluded.

“For instance, a police inspector has been dismissed from service while three others were demoted to their previous ranks following thorough investigations which confirmed their involvement in various acts of indiscipline/crime.”

Adejobi added, “One Inspector Adabo Mohammed was dismissed for the offences of criminal conspiracy, armed robbery/kidnapping, and corrupt practice. The dismissed officer, along with five others were members of an armed robbery gang responsible for the robbery of the sum of N29.8 million from a victim in Gwagwalada, FCT as well as the kidnap of one Ikechukwu Emmanuel Okafor in Tunga Manje, and the collection of ransom sum of N4.4m. The ex-officer has been charged to court accordingly.

“Similarly, the trio of Inspectors Osagie Efford, Semiu Agbekin, and Francis Ahuen, attached to the Special Tactical Squad (STS), have been demoted to their previous rank of Sergeant for the extortion of some motorists in Abuja. The trio intercepted an unregistered Mercedes Benz at Gwarinpa, Abuja, and forced the occupants to part with the total sum of N29.4m.

“The matter when reported by one Harrison Gwamnishu (#HarrisonBBi18) via the social media platform ‘X’, was taken up and properly investigated. While the monies have been returned to the complainants, the officers were subjected to orderly room trial in line with extant laws, and have been demoted.”

The FPRO noted that some senior officers have “been subjected to the Force Disciplinary Committee hearings” to “scrutinise and address allegations of misconduct against higher-ranking officers of the Force.”

He assured the public that “these measures are taken with the utmost seriousness and are integral to restoring and maintaining their trust. He re-emphasised that the NPF is dedicated to fostering a culture of accountability and respect within all ranks to ensure that police officers serve with integrity.”

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