lsI I1USINESS
THE GUARDIAN Thursday Septe mber l5, 201'
Govt tasks institute on substandard products From JoI:tMIll1",IJ,I\bu!J '{ t E ~era l Govem m~ nt has tas ked gove rning board of Ihe Nigerian Institute of Anima.l Science (NIAS~t?commenc~regu latory act]\lll l~ Ihat will aodress th e issue o f sulr.:ta ndard products, qua c~ and other sharp practlCfi In Ule Indus. II)'. ~crYlllg the state o f ahat· toif! in the c~unlry, TIle !l ~ ISler of ~}~~~!tu~
rura l Development, Dr. Aklnwumi Adesina tasked NlASloregula le theactivi ties In the sector so as to move a n imal p rod uctio n away from subsisten ce econom y to a sullable livestock bust· n ess t hat would create jobs a ud ge n era te Income. Adesllla gave the cha rge recently in Abuja while lna u· ~urating the ~ond novem· IIlg counctJ of t he NIgerian InS lltut~ of Animal Science.
Speaking throul,l;h the MinlsterofStilteAlhaJiBukar TiJanl, h e reca lled that Nt~eria wa.s ye t to meel the mmimum a n imal prote in inta ke pef person as required by the Food a nd Ag ricu lt ure Orga n isatio n, FAObul expressed optlmiSln t hat the Boa rd ha d the expertise n eeded to mo ve the i.ndustry forward. Pledging the commitment of lll e govern ment to
revamping the entire agrl· cu ltu ral st:ctor, h e said, as part of t he trans fonnat ion age nda, It was focusing on e nsuri ng food security, diver· s ifyl ng the economy and boOstfng fo re ig n exch ange for the econ o my. "The transfonnat lon agen· d a wtlt target rural commu· nities, particularly wome n, yout h and fa nners ilSsocla· lions as well as imprm1ng rural institutions and Inf~·
structu re. The li vestock sec· to rlskeyasp«lofou rt ransfOrJ1\ollion age nda - he said He emphasised thatlher~ was need to pay attention 10 thechallengeorrlnanceand v.due chain wll h a view to e nabling th e operators to o bta in h igher revenues from primary produclS. Earlier, NIAS rresldent Professor Pladd nOled that It was th roug h the explorati o n and e}l:plol ta tlon of
t he agric ulture value cha in that the natio n could derive the btnefits expected from the agricu ltura l secto r as e licited in the vision 20:2020.
Nloku pledged t he suppon o f t he NIAS to spare no errort in drivlnl' tow,uds the reali· satlo n 0 the objecti ves or government for self·sum· clency In .Jnimal protein supply and o f Its goals In its vision 20:2020.
Experts task banks on agric finand ng II, Gorofflyaln A SSOCIJ\TE pan ner o f F \ Monlto r Group, a South Africa-based consulting firm, Mr.lude UzonYla nne. haslisted toma toes proceSsI ng, ri ce m illi nI; and cutton fmn10g as emergmg Irwestmellt opportunities Nige rian ba'1ks could It'\"erage on to opdm lse their risk:!', chargi ng: fina ncial InstI-tutlons to partner faJmm ;md ."!gro product sup pliers to bOost tap,lcity In the u pstn'am segment of thE' sector. Speaking at tbe Nigerian Sust.. in.1ble Finance Week held in Lagos recently, he noted that a numb<!r of agri· cu ltu r.'II policIes o f the coun· try had no t been com me r· claJlyfocused enou::h 10 haW' delivered t he expected results. ·Whe n yo u r p{'lices are IMsed on dla rity. when you desig n po licies t hat don't recogn ise tha t farm ers are ,1Iso busi nessmen or tha t ,Ig ricult ure Is a I'!gitlmate lluslness, Y9 u e nd up wi th policies tJ lat are d.'fective. II coSls money to buy fertilis· ers, land and other lnpulS.So, It Is wrong for somebody to llss ume that f.Jrn lers a~ nOI businessmen: ht' a rgu ed. Uzo mvan ne, who is alSo an adviserto the Nigeria n Based Risk Sharing for Af,ri cultuldl Lending (NfRSAL)."" julnt Ini· f.tana&!nC OiIeclWand QlieI Uecutive OffIcer, 091111 Jewels, Adedoyin (kblla (left); OHctar, Mn. b.lIu! Awosita: nI Mana&!!.: OInlCI'Dr. Mriold EnIerpl1se Solutions. ~ KeIW-oda.lbint: the 40 th tiati\"e of the Cenual Bank, SpedaI flftion and Book Praermttion an Past Sessions of ~formation Va OIDI (JVC), 0'p1ised by DiFaI Jewds, In Lap. -.eelcen:L ~TD: GABRIEL IIOWfOO Minlsuy o r Agri n ltu re a nd Bankers Com m itte~, charged ban ks to carty out a thor· o ug h study of the llrecycle of a typ ical Nigerian fanner to from Arm Godwtn, POll Harcollfl Huma nitarian La w, Mr. road map wttJlOut having a people. Some p rojects Ihat regio n has reduced the ~... m· determine t he areas tln~y '1"1> ensure p roper manolge- Auyakwe Nsiri m oVll a nd concrete pla n that could have been .. warded,approved Ing or the people for CQ uid finan ce. Improwd standard o f living 1. ment o f Increase In funds Deputy President, Niger Delta Improve Ihe , )eople's 5lan· a nd p.1ld still appea r In the "Vl th inc~asc In d ~m.'nd fo r Integrity Gro up, Mr. dud 0 living. budget o f NO De; th.J1 l~ a to basic statistics. to the Niger Delu an imal feeds, whl.-. h is occa· accruing ·Since the inception o r d ear Indic.atJon or how the -Access to esse.ntJal servlc~ region. rrontllne ... cti vlsts Idumange joh n, the currtnt sioned by boomin l rasl rood NDoc. \ve are stili talking or money goes. So there is need such as f'(iucation. alTordable have called for a review o r th e Act was rupo nsible for the Industry, he acknowledged a Act establis hing the Nige r COlTIlptlon and rot In thecom· road ma p, It Is 1;lUghable. to revisit the Act to en.1ble us health, porn.ble wale r, el«tric· rast growi ng oPJX'rtunity in TO(Jily It Just appears that know the role or NDoc.~ it)', motoldble road, electrld· Delta Development missio n. soy.1 beans and maize p ro- Comm TIley explained thaI the cur- NDOC is just d oing every· Ogon In a paper titled, ty has rt"nlillned in the pil" issIo n (NDDC~ duction. Revenue dream: he sa d. The call w.!S made recen tJy rent Act empowt'rs NOOC to thing but nothing has been 'Strengl henln~ Sanks, he urgt"d, should embark o n numerous p ro} achli:ved by the commission, Management III Niger Delta' SlrHSlng Ihe n~ for ua nsdurin~ a one-day symposium bep;ln to organise ofT·lakers organised ects, tJlereby maldng the com· rather the relative human lamented that Increase In pa.rency .Jnd accountability In by Federated ... no o ther playeiS In ag ro Corresponde nt Ch apel o f mission lack focus on how to d evelo pme nt In the Nige r fund s accruing to lhe reJtion the Commlssion, Ogon Illaln· su p ply cho11n 10 '><>ost pro- Nige ri a Union o r Jo urnalist ... ddress tht: problems o r the Delta hasd ecUned,~ he state<! . had ratJlerdeepened the level t.!lned tllat the o nly way for· duct io n ca pacity. (NU)) Rivers State Cha pter. region. Ue noted further:" 80 pet of ,J><Mn y than alleviate iL w.ml lVas to m'icw the Act Uzonwanne ... dvocated a Hts words:· It is very worrl· that established the commisIOhn, fomler manager In the cent o f Nige r Delta people According to tJle Director; pannership that \\ouldallow J]aw Council for lIuman JlJDOC $;lid that il was lau$ h· stilt live below o ne do llar a some that the hu ge alloca· sion as well allowed p rofesbanks to fund famlers' operaItig hts, Mr. Patterson lIeme able tJlat since the establish· day, It is so because the com· tions and Internally gener.1l· s ionals who hild credible t ions and be pan or the p ro- Ogon, Direct'or Institute o f ment of NOoc, the commis- m ission seem not 10 be ed revenue 10 lhe stat~ and character to run the cornOl i.sduction r rocesses p roviding Human Rights and sion WiIS stiJI talking about improving on the 1iV('$ or the local governme nts In the sio n. technlca su ppom up tJIIlhe stage the proo uC'! are sold. According to h im, m ost agro-I ndustries ~hat Wt'-rl!' doing well In n orth re located He also agreed with particiwou ld be need 10 acqui re of acco un ting sta nda rds, A OOI'T1ON o f Imernallona l benefits of [FRS rmy not be to l.lgos when 10ClI sourdng n t'\,.. software. The cost chal· Adeleke said, ~there can never pantS t hat t he re might he Reponing o r ra w m;]te rlals was no l ""lFlnancla l fully realised without p rope r need to amend some of t he lenges \\IOuld be there for the be .l tIme when everybody education of audi lors, com· lo nge r vl.Jble. Standards OfRS) h ..s been la ws gove rn ing nnand.J1 orga n isations", he declared. would be ready. We n~ to "The business .sene was that ' iden Uned as the eng ine of pany execut ives and oth e.r He commended the FRC for wo rk ha rd to achieve It. reporting to accommodate parties in the p reparation of they could not bf' operating economic growth and devel the n~s of IFRS compllana. Its drom at dc1!pI!'nlng the -If we don'tdolt now, Nigeria nna nclal reports. rrom Kanowhen they haveto o pment fn t he country. Acco rding to the Roadm,1p 'lhls was the cOrUensus o r lalowledge of IFRS by part· would be left behind. We may "'There are ( h~lI e nges of Import the raw mat'eriats to Adopllon of lfRS prepared nerlng with h igher Institu· not be fully ready, but eJTorts skills, know led ge people t h rough Lagos. TIle problem o pinions by panlclpanlS at a tions In the country th rough are being made to al leilSt get by the then NASU, pub licly sta rted whe n tpe country workshop o~ nlsea by Baker have to .Jcqul re before tlJey listed entIties a nd Significant Its lin kage prog ramm r. on board and ImpfO\'t" with are effidem in lIS ope.ralion. neglected p ro lil etion: he Tilly Nigeria. for auditors on time~, adding that Nigeria public Interest entlUes are to Another f.Jdlltator .Jt the Ihe challenges of IFRS adop- That is why we see a 10( of continued. prepare their Onandal staleworkshop, Deacon Solomo n may not be ab le 10 attract III Lagos. tfalnlng and retraining He .Jlso noted that present l ion men ts usIng applic.lble IFRS Coun cil Me.mber o f the needed foreign Invesonents Adeleke, challenged regula· goi ng on, espedally those elTon being made to revt\1! the textile indu:;uy wou ld defunct Nigerian Accou nting who h.n"t' gone throug h and tory bodies 10 m ake witJloutado~Uon of the IFRS. by / anuary I, 2012, other public nremtentitJesareexpeo:· a llowances fo r honest mlsThe major fad lJta lo r al th e operated tlJe sy«em in their fall unless there \\ ere dellber· Sta nda rds Board ( NASB). Deaconllrus Soetan, saId the rn.kes thaI rould be rmde4lSa ed to mandatorily .Jdopl lFRS workshop, Mr Bill TeJrord, own Ju risdIction. ate efforts to boost the cotton result of tJle novelty or the IFRS wou ld a ttract foreig n for statu tory purposes 1jy saId the chal/enges of adop"lhe key challenges are lhere productlon, askiT'g Yhow can J ~ nuary I. 200 whUe S m~ JJ tion In Nigeria are not pecu. you bail out textile without Investors to the economy. a nd the ttthnoroglGlI chal· ","~ and Medium Entjti~ are to Soetan who Is a lso theSe:nior On the Im pression that liar as Britain also raced simIlenges are tJlere. The com pa· making s imila r effort In cot· Nigena may not be ~dy ror manda.to rlly ad opt by Ja r issu~ when It adopted nl~ have: 10 reronn mel r syston prOductIon l nd ellpKt Panner o r Baker lll1y Nigeria, the adoption of the g lobal set lanual)' 1. 2014 . IFRS In 2004/2005. - $uccess.- , ~·I however, declared that the . terns and operations. There:
at""
Activists seek review of NDDC Act over fund management
IFRS adoption, imperative for economic growth