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We’ve our reasons”: Cooking gas dealers announce new price for 12.5kg, others

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We’ve our reasons”: Cooking gas dealers announce new price for 12.5kg, others

Cooking gas dealers have increased the price of the commodity again after crashing in June

The dealers say that 12.5kg of cooking gas now sells for N14,500 from N13, 200 and 6kg sells for N7,200

The dealers blamed the crash of the Nigerian currency, the naira, for the hike in prices

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.

 

The price of liquified petroleum gas (LPG), also known as cooking gas, has increased again after crashing in June.

 

Findings show that it now costs about N14,500 to refill a 12.5kg cylinder, N7,200 for 6kg, and N1,200 for 1kg.

 

Cooking gas prices rises again, LPG, NLNG

Sellers announce new prices for cooking gas naira falls against the dollar Credit: PixelCatchers Source: Getty Images

New prices for cooking gas emerge

The commodity’s price crashed in June when a 12.5kg refill was sold for N13,200, N6,600 for 6kg, and N1,100 for 1kg.

 

In May, the commodity’s price remained stable following foreign exchange stability.

 

Cooking gas dealers blamed the volatile foreign exchange for the price rise, saying that most dealers had to rely on imported products rather than the Nigerian NLG Limited supply.

 

Dealers, who spoke to Legit.ng anonymously, said that the price increase is due to the high FX rate and volatility.

 

“There is always a pattern with our sales. Each time the FX market is stable in the Forex market, the prices remain stable and affordable. The market reacts to fluctuations in the Forex market,” one of the dealers stated.

Foreign exchange affects LPG prices

Reports say the dealers revealed plans to maintain a stable rate for the product, but high forex has remained an obstacle.

 

According to the dealers, each time there is an increase, their sales plummet as users switch to alternative energy sources such as electric stoves and charcoal.

 

Marketers warn of continued price increases

Legit.ng reported that the President of the Nigerian Association of Liquified Petroleum Gas Martkers (NALPM), Oladapo Olatubosun, warned that cooking gas prices would continue to skyrocket as exchange rate volatility continues to impact the domestic market.

 

Olatunbosun said:

 

“It Is expected that when the foreign exchange increases, the price of LPG will follow suit because it is still priced and determined by the flow of forex.”

Analysts believe that the Nigerian government’s policies, such as removing import duties and VAT from imported LPG and free distribution of one million gas cylinders, have not positively affected prices.

 

Also, the price is susceptible to inflationary trends, which the National Bureau of Statistics says soared to 34.19% in June.

 

Data shows states with highest cooking gas prices

Legit.ng previously reported that the National Bureau of Statistics has revealed that the average price for refiling a 5kg Liquefied Petroleum Gas (Cooking Gas) cylinder in Nigeria stood at N6,591.62 in March 2024.

 

This represents a 7.10% increase compared to the N4,562.51 average price recorded in February 2024, which was N6,154.50.

 

On a year-on-year basis, cooking gas prices increased by 42.97% from N4,610.48, which was paid in March 2023.

 

Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng

 

Source: Legit.ng

Olanrewaju Alaka: Transforming the PR Landscape as the Founder of Laerryblue Media

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Olanrewaju Alaka: Transforming the PR Landscape as the Founder of Laerryblue Media

As part of Ranks Africa’s initiative to celebrate impactful individuals, we are spotlighting #OlanrewajuAlaka, the founder of Laerryblue Media. Known as the king of PR, Olanrewaju’s actions speak louder than words.

His efforts have significantly enhanced communication strategies globally, setting new standards in the industry.

He stands out in the complex fields of public relations and brand management, having carved out a distinct niche for himself. His innovative and positively impactful approach is revolutionizing the way global businesses operate.

Olanrewaju Alaka, the visionary founder of Laerryblue Media, is redefining the public relations and brand management industry with his innovative approach and impactful strategies. With a career spanning over eight years, Alaka has distinguished himself as a master of PR strategy development, content creation, project management, and crisis resolution. His work not only earned him numerous awards but also established him as one of the most influential Africans in 2023.

Laerryblue Media, under Alaka’s leadership, has become a beacon of excellence, bridging the gap between enterprises and their audiences with meticulously tailored services. His efforts have significantly enhanced communication strategies globally, setting new standards in the industry.

Alaka’s educational background is as impressive as his professional achievements. He holds an MA in Public Relations from Sheffield Hallam University, a BSc in Business Analysis, and a B.A. in International Relations and German from Obafemi Awolowo University. His academic journey also includes studies at the Institute of International Communications in Berlin.

Beyond conventional roles, Alaka’s narrative prowess and global vision are reshaping the African PR landscape. His commitment to fostering impactful relationships and creating enduring connections stands as a testament to his expertise and dedication. In the intricate world of public relations, Olanrewaju Alaka is not just a proficient professional but a trailblazer, skillfully shaping a legacy of trust, excellence, and innovation.

Professional Summary

Olanrewaju’s narrative prowess extends beyond conventional roles, crafting stories that redefine success in the industry. His global vision seeks to reshape the African PR landscape while fostering impactful relationships. His meticulously tailored services, designed for accessibility, effectively bridge the gap between enterprises and audiences, creating enduring connections.

In the intricate world of public relations, Olanrewaju Alaka stands out not just as a proficient professional but as a master of his craft, skillfully shaping a legacy of trust, excellence, and innovation. His expertise transcends boundaries, making him a pivotal figure in the field of PR and brand management.

What Does Laerryblue Media DO? Read Here

P’Harcourt refinery undergoes licensing, minister defends rehabilitation exercise

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P’Harcourt refinery undergoes licensing, minister defends rehabilitation exercise

The Port Harcourt Refining Company is currently undergoing various licensing processes following the supply of crude to the plant after it was mechanically completed in December 2023.

 

Senior officials at the Federal Ministry of Petroleum Resources and the Nigerian National Petroleum Company Limited disclosed this on Saturday. Similarly, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, earlier insisted that the plant was at its final rehabilitation stage.

 

“The mechanical work at the Port Harcourt refinery has been completed. Also, crude oil has been sent to the plant. What is being awaited now has to do with licensing and the like. Now, these licenses are given based on some set of time-frames.

 

“Some officials involved in issuing these licenses are still observing the plant. Some of them came in last month and they are still there checking everything. They will also have to test-run the plant and all this will be at their pace. Most of them are foreigners and you can’t rush them.

 

“They have their integrity to protect, for if anything contrary happens at the refinery, the officials might be held accountable and their insurance firms would have to pay for any damage. So it is not entirely on our part when it comes to the takeoff of the refinery,” a petroleum ministry official, who spoke in confidence due to lack of authorisation to talk about the matter, stated.

 

In March this year, the Group Chief Executive Officer of NNPC, Mele Kyari, said the Port Harcourt refinery had received 450,000 barrels of crude oil and would begin operations in April. This, however, did not happen.

 

Kyari had disclosed this at a press briefing after he appeared before the Senate Ad-hoc Committee investigating the various Turn Around Maintenance projects of the country’s refineries.

 

“We did a mechanical completion of the refinery, which was what we said in December. We now have crude oil already stocked in the refinery. We are doing the regulatory compliance tests that must happen in every refinery before you start it, and I assure you that this Port Harcourt refinery will start in the next two weeks.

 

“Completing the mechanical work means that you are done with the rehabilitation work, now you have to test to see how it works. Of course, we have also completed the mechanical work on the Warri refinery. It is also undergoing regulatory compliance; processes that we are doing with our regulator, and this will soon be completed and it will be ready.

 

“Kaduna refinery will be ready by December. We have not reached that stage in Kaduna, but we promise Kaduna will be delivered by December,” the NNPC helmsman had stated.

 

On the volume of crude pumped to the plant at the time, Kyari had said, “All crude lines are active and have delivered over 450,000 barrels into the Port Harcourt refinery.”

 

Related News

Earlier at a press briefing on developments in the oil sector on Friday, the petroleum minister defended the ongoing work at the Port Harcourt refinery, as he told journalists that it often takes time before refineries start pumping out refined products after their mechanical completion.

 

Lokpobiri cited the Dangote Petroleum Refinery as an example, stating that the plant did not start releasing refined products immediately after its inauguration by former President Muhammadu Buhari in May 2023.

 

Dangote refinery first released diesel into the Nigerian market in March 2024, followed by aviation fuel, but has yet to release petrol, which is largely consumed nationwide.

 

“Port Harcourt refinery is still in the final stage of rehabilitation. After the flares at the refinery in December (2023), a lot of work has to be done. Recall that Dangote refinery was commissioned by (former) President Buhari before he left. But when did they start producing products? It took a long while.

 

“So it’s not just as easy as Nigerians may think. The best example is that between when Buhari commissioned the Dangote refinery and when it started bringing the products it took a long time. So I believe that within a short time we will get clarity on it (Port Harcourt refinery),” Lokpobiri stated.

 

The minister, however, stated that though he normally received briefings from NNPC on the status of the plant, he had always asked the company about when the refinery would eventually be completed.

 

“I would like you to also go to NNPC. They awarded the contract. They report to me. But they awarded the contract. They are the people who are paying for the contract. And it’s always good to get the information right from the source. I get briefed from time to time.

 

“The same question people are asking me is what I’m also asking them (NNPC). When are we going to actually get this thing done? But they always said, look, Dangote refinery took some time. So it’s not just as easy as we think.

 

“And I think all of you here are witnesses to the Dangote refinery. When it was inaugurated by Buhari and when they started bringing our products. Even up till now, they haven’t started bringing out PMS. It takes time. But our own as a government is to ensure that we support them in any way we can,” Lokpobiri stated.

 

He, however, assured Nigerians that the government was working hard to ensure that the refinery commences the release of refined petroleum products in earnest, as this would impact positively on the country’s economy.

Lagos clarifies ban on Danfo, Korope buses along Lekki-Epe corridor

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Lagos clarifies ban on Danfo, Korope buses along Lekki-Epe corridor

The Lagos State Government has clarified plans to ban Danfo and Korope buses along the Lekki-Epe corridor starting from October 1, 2024.

 

According to the Special Adviser on Transportation to Governor Babajide Sanwo-Olu on Transportation, Sola Giwa, in a statement on Sunday, the move is part of the state’s Bus Reform Initiative aimed at enhancing public commuting and better serving the residents of Lagos.

 

Giwa, who was reacting to media reports that Danfos would be banned in Lagos, explained that the initiative will introduce mass transit buses for the Lekki-Epe corridor.

 

He stated that Danfo buses that meet the standards of the Vehicle Inspection Service will operate as mid-capacity buses.

 

Korope buses that also meet the standards will be integrated into the First Mile Last Mile services to serve the interior roads along the stretch from Obalende/CMS to Ajah.

 

The Special Adviser emphasised that the current state of bus operations on the corridor is chaotic, and the need to regulate and integrate the informal transport sector into the State’s Bus Reform Initiative is necessary.

 

“The primary goal of the Bus Reform Initiative is to restructure commercial bus operations. We are committed to providing a comfortable and efficient public transportation system for the residents of Lagos,” Giwa said.

 

He warned that any operator who contravenes the regulations will be fined and will forfeit their vehicles if they ignore the notice of their fines.

 

He added, “Designated routes will be assigned, and compliance will be strictly monitored.

 

“Passenger comfort is a top priority; therefore, an e-ticketing system will be introduced.”

 

Giwa disclosed that a stakeholders’ meeting held on June 27th, which included heads of Transport Unions, key Transport Operators, officials from the State’s Ministry of Transportation, and the Special Adviser and Permanent Secretary of Transportation, addressed all doubts and concerns, and a communique was signed.

IG bows to pressure, suspends e-motor registry enforcement

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IG bows to pressure, suspends e-motor registry enforcement

The Inspector General of Police, Kayode Egbetokun, has suspended the enforcement of electronic central motor registry registration for vehicle owners in the country.

 

The Force Spokesperson, Muyiwa Adejobi, had on Saturday said the IG ordered that the enforcement of the e-CMR should commence on July 29.

 

The enforcement order sparked an outcry from Nigerians, who accused the police of creating an opportunity to extort vehicle owners.

 

Also, the chairman of the Nigerian Bar Association Section on Public Interest and Development Law, John Aikpokpo-Martins, said the directive by Egbetokun to begin enforcing the digitised Central Motor Registry was a blatant disregard for the rule of law.

 

But in a statement on Sunday, Adejobi announced that the IG has suspended the enforcement of the e-CMR.

 

He added that there was the need to sensitise the citizens on the initiative, which he said was designed to secure vehicles.

 

He said, “Following the reconfiguration and commencement of the electronic central motor registry registration process the Police have deemed it necessary to highlight the benefits and effectiveness of the e-CMR initiative which is designed to ensure the safety and security of all types of vehicles including motorcycles by collating data imputed into the system by vehicle owners and acting on such to flag the vehicles if reported stolen.

 

“The e-CMR will provide a firsthand database to the Force for curbing vehicular crimes as dedicated officers can access real-time comprehensive data of every vehicle on their tablets.

 

“Similarly, the e-CMR will prevent multiple registrations of vehicles and serve as a database to collate biometric and other data of vehicle owners and individuals, adding value to the national database and incident report portal generated from other Ministries, Departments and Agencies towards general security.”

 

Adejobi denied that the e-CMR was a revenue-generating platform.

 

He said, “Furthermore, contrary to news making the rounds and insinuations about the e-CMR, the NPF wishes to state categorically that the e-CMR is not a revenue-generating platform but an initiative to digitalize policing for effectiveness and general safety of lives and property of Nigeria residents. “

 

Adejobi said the IG ordered the immediate suspension he had earlier given.

 

He stated, “The Inspector-General of Police, IGP Kayode Egbetokun has ordered an immediate suspension of the proposed enforcement of the e-CMR initially scheduled to commence on the 29th of July, 2024. This is to give ample opportunity for mass enlightenment and education of all citizens and residents on the process, benefits and effectiveness in solving the challenge of vehicle-related crimes, and protection of individual and corporate vehicle ownership.”

 

Adejobi sought the understanding of the citizens and key into the initiative.

 

He warned police officers to stop requesting the e-CMR certificate from vehicle owners, adding that anyone caught would be punished.

 

Adejobi added, “ In light of this, we seek the understanding and support of all well-meaning Nigerians and residents to key into the e-CMR system. In the same vein, the IGP charges all Police officers to desist from requesting e-CMR certificates as individuals found extorting or exploiting members of the public on the guise of not having e-CMR certificates will be sanctioned accordingly as the enforcement which will be done by only dedicated officers has been suspended till further notice. “

Netflix has released the trailer and premiere date for the highly anticipated Nollywood film, House of Ga’a

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Netflix has released the trailer and premiere date for the highly anticipated Nollywood film, House of Ga’a

Netflix has released the trailer and premiere date for the highly anticipated Nollywood film, House of Ga’a. It will premiere on the streaming platform on July 26, 2024.

This period film about the life of the infamous Bashorun Ga’a, directed and produced by Bolanle Austen-Peters comes after the success of Funmilayo Ransome-Kuti. Austen-Peters is a multiple award-winning movie director and producer. She is the founder and artistic director of BAP Productions and the arts and culture center, Terra Kulture, Lagos.

 

She has been described by CNN as the “woman pioneering theatre in Nigeria”, named one of the most influential women in Africa by Forbes Africa, and has been recognized with several awards for her contribution to the arts, with movies such as Man of God, Bling Lagosians, Collision Course amongst others.

 

Set in the 18th-century Oyo Empire, House of Ga’a is a story based on the ferocious and feared Bashorun Gaa who became more powerful than the kings that ruled over him. Power drunk he becomes a kingmaker himself presiding over who gets to rule and who is dethroned. House of Ga’a explores power, treachery, and a legacy left behind.

 

Austen-Peters first teased the project in May 2023 when it started filming. “Back on SET! Something special is brewing! Thank God,” she posted on X (formerly Twitter).

 

The film stars Femi Branch, Mike Afolarin, Funke Akindele, Toyin Abraham, Ibrahim Chatta, Dele Odule, Bimbo Manuel, Lateef Adedimeji, Femi Adebayo, Gabriel Afolayan, Jide Oyegbile, Seun Akindele, ⁠Yemi Blaq, Adeniyi Johnson, Muyiwa Ademola, Willam Benson, Gbenga Titiloye, and ⁠Kunle Coker.

Check Out The Trailer;

https://www.instagram.com/reel/C9R2OrUsu9h/?igsh=MWFpM25hY2d6ZzNz

Court Orders Lai Mohammed To Disclose Agreement Between FG, X

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Court Orders Lai Mohammed To Disclose Agreement Between FG, X

Justice Nnamdi Okwy Dimgba of the Federal High Court Lagos has ordered former Minister of Information and Culture, Lai Mohammed, to disclose the details of the agreement between the Federal Government and X, formerly Twitter.

 

The judgment, considered a landmark verdict, was delivered in May 2024 following a Freedom of Information suit brought by the Socio-Economic Rights and Accountability Project (SERAP). The certified true copy of the judgment was obtained last Friday.

 

SERAP’s Deputy Director Kolawole Oluwadare revealed in a statement on Sunday that the order was to assess whether the agreement complies with the exercise of Nigerians’ human rights online.

 

The former minister and the Ministry of Information are directed and compelled to provide a copy of the agreement between the Nigerian Government and Twitter to SERAP solely to ascertain its impact on the protection of fundamental human rights of Nigerians.”

 

“Disclosing the details of the agreement between the Nigerian Government and Twitter is in the public interest and does not affect Twitter’s business interest as a third party. It is also not prejudicial to Nigeria’s sovereignty and national security,” Justice Dimgba held.

 

“The agreement between the Nigerian Government and Twitter must still be disclosed irrespective of the harm to Twitter if it would be in the public interest to make sure disclosure.”

 

Justice Dimgba dismissed the objections raised by the minister’s counsel and upheld SERAP’s arguments. Consequently, the court entered judgment in favour of SERAP against the minister.

 

Justice Dimgba further said, “The minister has failed to prove that the President has followed due process of law to designate Twitter as a Critical National Information Infrastructure upon the National Security Adviser’s recommendation and issued an Order in the Federal Gazette in that regard.

 

“Therefore, I hold that the disclosure of the Twitter agreement is not prejudicial to Nigeria’s sovereignty and national security or protected by the Official Secrets Act, as the minister has failed to prove the same.”

 

The suit filed against the former minister of information and culture followed the Nigerian Government’s statement on 13th January 2022 after lifting the suspension of Twitter operations in Nigeria, to the effect that, “Twitter has agreed to act with a respectful acknowledgement of Nigerian laws and the national culture and history.”

 

The Nigerian Government suspended Twitter on June 4, 2021, after it removed a post from former president Muhammadu Buhari. The former president was joined in the suit as Co-respondent but the court gave the orders against the minister.

Akinwunmi Adesina faults FG’s approval of duty-free food imports, says policy is depressing

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Akinwunmi Adesina faults FG’s approval of duty-free food imports, says policy is depressing

The President of the African Development Bank, Dr. Akinwunmi Adesina has raised concerns over the federal government’s plan to import food stating that the policy is depressing.

 

He stated this during the Council of Anglican Provinces of Africa retreat held in Abuja on Saturday where he spoke on the theme, ‘Food Security and Financial Sustainability in Africa’

 

According to him, Nigeria cannot rely on food imports to stabilize prices, and resorting to it could destroy the country’s agricultural policy.

 

He explained that the country should be producing food to keep prices stable and reduce pressure on the foreign exchange front whilst creating jobs.

 

He said, “Nigeria’s recently announced policy to open its borders for massive food imports, just to tackle short-term food price hikes, is depressing.”

 

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“Nigeria cannot rely on the importation of food to stabilize prices. Nigeria should be producing more food to stabilize food prices while creating jobs and reducing foreign exchange spending, which will further help stabilize the Naira,”

 

“Nigeria cannot import its way out of food insecurity. Nigeria must not be turned into a food import-dependent nation.”

 

Potential of Africa’s food system

Furthermore, Dr. Adesina noted that Africa constitutes nearly a third of the over 780 million people worldwide who are hungry, the African Development Bank president emphasized the critical role of agriculture in diversifying economies and transforming rural areas, where more than 70 percent of Africa’s population resides. “It is clear therefore that unless we transform agriculture, Africa cannot eliminate poverty,” he insisted.

 

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Adesina noted that Africa holds 65% of the world’s remaining uncultivated arable land, which is crucial for feeding an estimated 9.5 billion people by 2050. Therefore, what Africa does with agriculture will determine the future of food in the world. “Essentially, food is money. The size of the food and agriculture market in Africa will reach $1 trillion by 2030,” he stated.

 

Backstory

Last week, the federal government through the Ministry of Agriculture announced plans to allow duty-free importation of food items such as maize, rice paddy, and wheat for 150 days as part of measures towards stabilizing the prices of the items in the market.

 

The move contradicts the earlier position of the Presidency on food security with President Tinubu stating that Nigeria will not import food but produce what it eats.

However, the move to import food has drawn the ire of farmers in particular. The President of the All Farmers Association of Nigeria (AFAN) had earlier stated that food importation would erode the gains made in rice, maize, and wheat production while the Rice Farmers Association of Nigeria (RIFAN) had also reacted to the policy by stating the federal government should encourage rice farmers rather than import.

Food prices in the last year have skyrocketed in Nigeria with food inflation just over 40% pushing millions into poverty and hunger. An estimated 32 million people are expected to face severe hunger and malnutrition this year due to the crisis.

Lagos to start e-call system on Lekki-Epe corridor August 1

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Lagos to start e-call system on Lekki-Epe corridor August 1

In a significant move to avert articulated vehicles clogging the Lekki-Epe corridor and improve the efficiency of logistics operations within the Lekki-Epe Free Trade Zone, the Lagos State government has announced the commencement of the e-call up system for managing truck movements within the axis from August 1, 2024.

 

The Commissioner for Transportation, Mr. Oluwaseun Osiyemi, made this known over the weekend, stating that the move is driven by the urgent need to implement a sustainable, effective, and technology-driven solution for truck movement in the Lekki-Epe Corridor.

 

He further disclosed that the application of the e-call up system will help synchronise the movement of trucks accessing the Lekki Deep Seaport and other industries within the corridor, starting from Eleko junction to Lekki Free Trade Zone, highlighting the state and federal governments’ plans on road network expansion and intermodal transport systems to streamline vehicular traffic and enhance free movement in one of Lagos’ most critical economic zones.

 

Also speaking on the development, the Special Adviser to the Governor on Transportation, Sola Giwa, who is saddled with the enforcement of the e-call up system of the corridor, said that an interim arrangement is being put in place to decongest the roads through the evacuation of all illegal tankers from the red zone.

He added that this will be undertaken by a joint task force of the state, councils, security agencies, and stakeholders, urging truck operators and logistics companies to comply with the new system to ensure its success.

 

The e-call up system, an advanced digital platform, is designed to regulate the entry and exit of trucks in the Lekki-Epe area by scheduling and coordinating their movements. This system will help prevent the chaotic traffic situations often caused by the indiscriminate parking and movement of trucks within the corridor.

 

The Lekki-Epe corridor, a key economic hub in Lagos, is home to numerous industries, including the Lekki Free Trade Zone, the Dangote Refinery, and the Lekki Deep Sea Port.

 

The efficient movement of goods and services in this area is crucial for the state’s economy, making the e-call up system an essential tool for sustainable development.

Why food crisis persists despite FG’s N2.4tn funding – Agronomists

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Why food crisis persists despite FG’s N2.4tn funding – Agronomists

As the Federal Government rolled out fresh measures to address the prevailing food insecurity in the country, agricultural economists have explained why the previous efforts made to address the food crisis have not delivered the expected results.

 

This came as an investigation by Saturday PUNCH showed that in the last five years, the Federal Government has budgeted and pushed about N2.4tn into the agricultural sector in a bid to reduce the country’s dependence on imports for food provisions.

 

Recall that on July 26, 2023, Vice President Kashim Shettima said that the Federal Government had mobilised more than $500m (N370bn) to boost agricultural production.

 

Shettima, who disclosed this while chairing a high-level meeting at the United Nations Food Systems summit in Rome, last year, said the $500m was mobilised through domestic resources, multilateral development banks, international financial institutions and climate funds by leading agro-businesses.

 

Also, while announcing the government’s first set of palliatives a few days later, President Bola Tinubu, in a national broadcast, said the sum of N200bn was also deployed to boost agriculture production.

 

Most recently, President Tinubu announced the outcomes of the Federal Government review of the accelerated stabilisation and advancement plan, which seeks to inject N2tn into the economy in the next six months.

 

According to the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, in the N2tn emergency funding, the Federal Government also set aside N500bn for agriculture and food security.

 

Saturday PUNCH gathered that these series of funding were different from the country’s annual budgets for the Federal Ministry of Agriculture which include N362.9bn in 2024, N228.4bn in 2023, N215.87bn in 2022, N280.32bn in 2021 and N160.46bn in 2020.

 

Meanwhile, the Central Bank of Nigeria also donated fertilisers worth N100bn to farmers across the country.

 

Despite the litany of funding, an investigation by our correspondent showed that food insecurity persists in the country amid a high rate of inflation and importation.

 

Speaking to Saturday PUNCH, an agric expert, Mr Salau Adebayo, who is the Head, Department of Agric Extension and Management at the Oke Ogun Polytechnic, Saki, Oyo State, blamed the consistent food crisis on wrong deployments of previous loans and funding provided by the Federal Government.

 

He said, “The government is trying, but what I observe from the economic point of view is that most of the farmers that need the government funds don’t get the money as expected because the government does not have enough data that captures the farmers extensively.

 

That’s why real farmers don’t get access to the various government funds and loans that can help boost their production. Those who get the funds have simply been diverting it into personal businesses outside agriculture.

 

“Secondly, if the government will help the farmers, the loans must be of low interest. Meanwhile, most of the funds are often domiciled and channelled through microfinance and commercial banks, whose interests are often too high for the farmers to pay.

 

“So, the first thing the government can do is to go to the grassroots and get the real farmers and possibly orientate them on the use of the funds before deploying.

 

“The practice of arbitrarily dishing out funds to farmers at the grassroots through the state and local government representatives without tracking the recipients should be abolished.”

 

In an interview with Saturday PUNCH, another agric expert, Dr Mutiat Salawu, cited inadequate funding as the biggest factor fuelling the food crisis in the country.

 

Salawu, who lectures at the Department of Agribusiness Management, Federal College of Animal Health and Production Technology, Ibadan, said, “Food crisis in Nigeria remains persistent despite government budgetary allocation to the agricultural sector because the government continued to provide inadequate budgetary allocation to the sector over the years.”

 

She argued, “Budgetary allocation to agriculture continues to fluctuate ranging from 1.34 per cent in 2020 to about 1.8 per cent in 2022. In 2023, the budgetary allocation to the sector was less than 2 per cent. These allocations are considerably low compared to the 10 per cent allocation specified in the various international agreements.”

 

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