Vanguard, WEDNESDAY-JANUARY 11, 20 12-21
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OaDdo Fuel Sfa Uon at Mary/aDd. Lagos. dnriD!llbe IJalJoow/de peacefulprotest on subsidy re.m o nU. Pboto: Ke.hiBde GbadiHDosi
N30bn,Agric Fund: 11 banks begin disbursement to agro-dealers BYMIOtA.ELEBOH
E
LEV EN banks have finalised their participation in the N30 billion Agricultural inputs fund fo r the 20 12 farming season, with the commencement of disbursement of the fund toAgro-Dealers across the country. TIris- is further to the execution of a tripartite Memorandum of Understanding, MoU, last November, by the Federal Ministry of Agriculture and Rural Development in partnership with the Federal Ministry of Fmance and Deposit Money Banks to provide N30 billion funding [or agricultural inputs - fertilizefS and seeds for the 2012 fanning season. According to a statement made available to Vanguard. the banks that
AGRIC COMMoDITIES
have completed their pa11icipation in the scheme are: Access Bank. PIc, Diamond Bank PIc, Fust Bank. Nigeria PIc, GT Bank PIc, Oceanic Bank International ~lc, Ecobank.Nigeria PIc, Stanbic mTC , Sterling Bank. PIc, United Bank for Africa PIcoU nion Bank
Pic and Zenith Bank Pic. Some of the seed companies already benefiting from the scheme via single digit loans [rom banks include: Savannah Seed & livestock limited, Seed Project Company Limit ed, Manoma- Seeds- Nigeria -l:.imited,
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Nagari Seeds Nigeria limited and DaAll Green Seeds limited. Commenting on the deve1opmenl, one of the promoters olthescheme., Mr. Aigb oje Aig-Imoukhuede, Group Managing DirectOI; Access Bank PIc, who is also the Chainnan, Bankers Committee Sub-Committee on Economic Development, said the agricultural. input financing deal shows the Banking sectors commitment to act as a patch to the Federal Gavemment of Nigeria in the transformation of the Nigerian economy. . He said the benefiting firms would in . tum pwc hase the seeds from outgroweR across the country. ¡Il is noteworthy that if not purcllased from the out-growers for distribution to Iarmen, the seeds would have been said to waste or sold for paltry sums thereby resulting in I!!C'Onomic losses," he DOted. Also speaking, Coordinating Minister for the Economy and Mins ter of Finance, Dr (Mrs ) Ngozi OkonjoJweala. said, wnus shows that when we say we will de1iveJ; we are serious. This innovative plan will get seed s and fertilizer into the hands of farmers directly and help boost food production Nigerians will see the results where it matters - in their pockets and on their dining tables ." In his remarks, Minister for Agriculture and Rural Development, Mr. Akinwumi Adesina, said. -rile Federal Government's Agricultural 1Tansformation Initiative would empower Nigerian farmen, c reate millions of jobs as well as result to huge savings in foreign exchange. .. Commenting on behalf of agrodealers. Mr. Ola Richards, Vice President, Seed Dealers Association of Nigeria said that the association is extremely grateful to the Federal Government for fulfilling its promise by solving the perenni.a.I problems faced by Seed Dealer.! and Farmers.
Government must have a clear head BYTOm NAVAH OKONMAH
F
OLLOWI NG the uproar and confUsion, tbat greeted the removal of fue1 subsidy into the New Yea r. The government n eed s to demonstJate a deared head and vision lor the ~unby at a time like this. It's not enough tell the people that the removal of fuel sub.sidy is a necessary evil and the way to placate them is the announcement of a 25% cut in public servant's income and a reduction in overseas ' travels. The meas w es announced by President Good.luck Jonatha n are n ot far reaching enough and are not the issues pn hand, or the solution to those issues. Corruption is an empirical and well documented issue in Nigeria which has caused serious damage to the reputation 01 the counlly as an ally of civilisation, and if the re moval of oil subsid y is one meaSUIe in the herculean fight to eradicating this 'terminal cancer' a.ffecting our nation, eve ry honest Nigerian wishing o w beloved country well will undoubtedly welcome iL But, the government must be sincere with the people in fighting corruption as a whole. Removal of fuel subsidy, as
welcomed or unwelcomed as it may be is not the first step towa.rds achieving government's objectives of eradicating corruption. deepening the economy through deregulation and achieving single digit inflation. An old adage has it that 'charity begins at home' . The government shou ld first demonstrate to Nigerians they are willing to show commitment to the co urse they a re prescribing by making individual and collective sac rifi ces in th eir s ocial, economic and political lives . They should show this by ridding themselves of grafts . They must cut out their indulgence in excesses and wastes that are the sources of corruption in the co untry. The legis lators and top government functionari es must cut down on their bloa t ed and in.flat~d, highly unrealistic earnings. The government must cut down on domes tic staff budgets and entitlements . They must cut down on duty allowances and travel expens e s etc. Finally, the government must pass a legislation that mandates bolh government and private officials to purchase fue] a t same cost and receipt payments are not reimbursilble. . i believed that Nigerians are not
angry or demonsbating against the removal of one of the agents of conuption that is destroying our land. Nigerians are angry .. an d demonstrating against government insensitivity and azrogance...Nigerians are angry because the government did not show in any way that they are ready to take responsibilities and to make sacrifi ces . Ra th er. the governmen t showed c rass (insensitivity) by transferring the hardship of the pains of the removal of fue1 subsidy directly to the already economically s quashed masses . Let ' s face lact. Our co untry is re a ll y in very bad shape politi c ally, socia lly, an d economically. Drastic m eas ures are needed but transparency on tb"e part of government is the key to success in overcoming our struggles. Boko Haram has now assumed a monstrous enough image for a country that is fast losing reputation in the committee of civilised nations. We do not need the addition of an equally monslrous problem like the removal ol the fue1 subsidy. Defi.nite1y, Dot a t thi s time . I hope tbe government is listening .
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OkoIJmah Ton y. pr:a c liciIJg linanc:iit/ adviser wrote from London