News
CBN, RIFAN to crash rice prices
By Correspondent
The National President, Rice Farmers Association (RIFAN), Alhaji Aminu Goronye has assured Nigerians that the market prices of locally produced rice will soon crash explaining that the price of a 50kg-bag of locally produced rice would plummet from N18, 000 to between N6, 500 and N7000 by April 2018.
According to him the price-reduction plans would be achieved under a joint programme of RIFAN and the Anchor Borrowers Programme (ABP) of the Central Bank of Nigeria (CBN), which would be launched in Abuja on Jan. 13, 2018.
Goronyo said that 12 million rice farmers in the country would benefit from the one-year partnership, adding, however, that 300,000 rice farmers from 20 states would be supported at the beginning of the programme in January.
He said that under the new initiative, the CBN had modified the programme to facilitate its direct relations with RIFAN so as to ensure timely disbursement and full repayment of loans, unlike what obtained in the past.
He said that the new initiative would double the achievements of the earlier edition of ABP, which was launched on Nov. 17, 2015 in Kebbi, with a target to produce additional 2.5 million tons of paddy rice.
He said that in 2015, Nigerians spent not less than N1 billion daily on rice consumption, adding that while the spending had reduced drastically, rice consumption had increased significantly because of the increase in local production of rice.
Goronyo said that the available statistics indicated that the rice consumption rate in the country now had increased from 7.9 million tons to over 8 million tons, while the volume of rice production had increased from 5.8 million tons to 6.9 million tons per annum.
He, however, noted that several efforts had been put in place to cut down the price of rice, adding that some of the efforts included collaborations with Competitive African Rice Initiative (CARI) and other African countries to boost rice production and exports in Africa.
Goronyo stressed that rice prices would further drop, as there were currently bumper harvests in rice farms across the country, while RIFAN was collaborating with rice millers on the pricing of the commodity.
Besides, the RIFAN president said that RIFAN had signed a Memorandum of Understanding (MoU) with the Nigeria Customs Service on how to contain rice smuggling into the country through the land borders.
Goronyo said that the efforts being put in place and the current economic situation in the country had made it somewhat difficult for people to import rice into the country and make profit.
“The landing cost of a 50kg.-bag of imported rice is now N19, 500; then, how much should the 50 kg.-bag of rice be sold?
“The smuggled rice that comes into Nigeria is just five per cent of what we consume, and the rice comes in through the informal sector,’’ he said.
The ABP, which was launched by President Muhammadu Buhari on Nov. 17, 2015, is aimed at creating linkages between companies involved in rice processing.
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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