Tag: Micro

  • BoI okays N903.4m loan for SMEs in Gombe

    BoI okays N903.4m loan for SMEs in Gombe

    The Bank of Industry (BoI) has approved N903.4million for Micro, Small and Medium Enterprises (MSME) in Gombe State.

    Its  Managing Director,  Mr. Rasheed Olaoluwa, who spoke  during the inauguration of BoI’s new office in the state, said agro-processing accounted for 80 per cent of the loan portfolio.

    In a statement, Olaoluwa was quoted to have said so far, projects  being financed through loans from the bank  created 1, 900 direct and indirect jobs in Gombe State.

    ”Shortly after his assumption of office on May 2011, the Governor of Gombe State expressed the desire for partnership with BoI as a vehicle for accelerating the socio-economic development of Gombe State.

    “In order to actualise the partnership, he made a pledge to contribute the sum of N500million towards the establishment of a N1.0 billion Entrepreneurial Development Fund which was to be matched in like sum by BoI.

    “The first tranche of the state’s contribution to the matching fund in the sum of N250million was released in August 2011. This amount was equally matched by BoI thereby creating an initial pool of N500million for on-lending to entrepreneurs in the state.”

    He said by this gesture, Gombe emerged the first in the Northeast to collaborate with the BoI in entrepreneurial development under the states’ Matching Fund Scheme.

    He  said: “I am pleased to inform you that to date, a total sum of N903.4million was approved for 171 projects. However, because the available matching fund was N500million, only 55 per cent of the approved loan amount could be funded under the Matching Fund Scheme. It is evident that there is an urgent need for the state government to release its outstanding contribution of N250million to the Matching Fund.

    “Notwithstanding, BoI had disbursed N110million to 16 enterprises in the state from its own resources. In terms of impact, 1,277 direct and 623 indirect jobs totalling 1900 were created. Gombe State is a predominantly agrarian state and this is evidenced by the fact that, 80 per cent of the approved loans was committed to agro-processing, while 20 per cent was for other sectors such as beverages, construction products, plastic and chemical products.”

    The BoI chief noted that given the fact that the state  had been identified as a major hub for  commodity-based industrial clusters within the Northeast, the bank  would concentrate its lending efforts in major industrial clusters such as meat processing, metal fabrication rice milling and  groundnut oil production, among others.

    According to him, to deepen its developmental impact in the country, BoI has identified 34 product clusters nationwide, adding that  Gombe, being a major hub for clusters in the Norteast, would be a beneficiary of the initiative.

  • Micro irrigation transforming small farms

    Micro irrigation transforming small farms

    For subsistence farmers in rain-scarce areas of the country, micro irrigation can make the difference between hand-to-mouth survival and being able to grow an agro-allied business. DANIEL ESSIET reports.

    Farmers face the challenge of low yields nationwide. This is attributed largely to poor   access to water, which forces them to rely mostly on rain-fed crops. In the North, farmers grow rain-fed staple crops such as millet, but enjoy a rainy season lasting between three and  six months. Rainfall is highly variable, which makes the crops susceptible to climatic condition resulting in low returns.

    The experience is not restricted to the North, it is the same in the South-West. It is one of the challenges of the Chief Executive of X-Ray Farms Consulting, Afioluwa Mogaji, popularly known as African farmer, who has always dreamt of the day he will escape a laborious farming life.

    As a small holder farmer, water and labour shortages are Mogaji’s key challenges. Their absence result in hard toil. In the course of his business, Mogaji has met two kinds of farmers — those with access to irrigation and those without. The difference between the two  is clear.  Those with drip irrigation, or sprinklers invariably are reaping rich harvests and profits. But the vast majority of Nigerian farmers, fall into the second camp: they water their crops with water from wells or rivers.

    These farmers seem to live from crop cycle-to-crop cycle.  Their problem is water supply and the solution is irrigation. While the traditional irrigation control system is  available, it is costly and complex. Though such system covers hectares of farmlands, it costs millions and so too expensive for farmers such as  Mogaji. Besides, it is not economical for small farmers with few acres of farmland to purchase such systems.  The promotion of low-cost, small-scale irrigation equipment could be the solution.

    What won him over was a drip irrigation system designed for small farms like him.Apart from being three to four times cheaper than normal systems, low  cost system increases crop yield, quality and consistency, while using less water per unit of land — benefiting farmers, consumers and the planet.

    Also, the average purchase price is N100,000 or less. Mogaji, who bought some, said the advantage is that they are mobile and can be shifted from one field to the other. He said one system can work on one acre and move to the other after a few hours. He described them as shift able drip systems. They can last for as long as 12 years.

    For farmers, irrigation represents a major expenditure of labour and time; some may spend more than half-a-day hauling water to farms. Providing them with a lower cost solution with increased efficiency, helps to bring down the cost of production to thousands of families and get them out of poverty. African farmers explained that micro irrigation is the way to go because it is affordable for farmers.

    Mogaji said low-cost drip systems tailored to the needs of poor farmers have begun to spread. These include rain gun and bucket drip irrigation system. He added, however, that the system is limited to some extent. This is because it is best used on fields of one acre or less.

    Compared  to  the  high-tech systems  that  are  so complex, he  said the  micro system  are  easy to use, adding that the technology allows farmers to customise irrigation to different parts of a single field.

    He has experimented with micro irrigation equipment, which to his delight, cut by half, his effort and the quantum of water needed, while increasing the output from his farm.

    In some cases, micro irrigation systems have reduced the amount of water needed to cultivate an acre of  land by 50 per cent, and have been shown to improve yields by more than 40 per cent and offer input cost savings of about 30 per cent.

    They also allow for year-round farming, which means that farmers don’t have to uproot families and migrate to other places during the dry season. The overall result has reduced dependence on flood irrigation and increased the opportunity for farmers to earn more steady incomes.

    He has seen farmers whose fortunes have changed dramatically after installing drip-irrigation equipment as it helps them  irrigate their land with far less water, and reap substantial increases in yields.

    The Project Director, Cassava Adding to Africa (CAVA), Prof Kola Adebayo, told The Nation  that there is need for farmers to use irrigation water to supplement rainfall in agricultural production systems. This must be determined by soil type and other factors.

    His  concern  is  that   most small farmers who  constitute the  bulk  of  the  farming  production,  cannot grow crops throughout the year due to insufficient rainfall and are unable to afford existing irrigation systems which are either too expensive or   complicated to use.

    He said however, that there are efficient low-cost small-scale irrigation technologies designed for farmers with land holdings of a hectare or less.

    The technology, he explained, enables farmers to efficiently irrigate and grow crops and boost their farming income.  In water-short areas, he said farmers can take advantage of micro irrigation system to increase their irrigated land area instead of reducing groundwater withdrawals.

    For him, it is about yield and farmers are getting more crops per drop and at the same time applying less water to the field.

    Irrigation advocate, Chidiebere Igbokwe, said farmers in Kano, Enugu, Plateau, Niger, Lagos, Osun, Abia and Ogun are using drip irrigation.

    For example, he said there is an on-going a multi-hectare plantain plantation project in  Enugu State that will use drip irrigation.  Also in Jos, more small scale farmers are giving drip irrigation a trial.

    On why many farmers are not using the drip irrigation kits on their farms despite its potential to increase output, Igbokwe said people tend to use what they know about.

    His words: “In the absence of awareness of its existence or lack of knowledge about the ease of affordability, how can farmers put them to use? Some farmers do not know that there are smaller drip irrigation kits that they can apply to their small farms of say 100 square meters  to even a hectare. Another reason is that some farmers cannot afford to pay as much as N50,000 at once to purchase a small kit without subsidy. Even in the government agricultural transformation agenda (ATA), you cannot see the display or mention of drip irrigation kits being introduced to farmers. Their concern is on large dam irrigation as if the programme was only for the briefcase farmers.”

    He stressed that drip irrigation is very affordable. His words:  “They are priced according to their specifications and area of coverage. You can get a kit as low as N25,000 and as high as N2 million. They come in sizes ranging from 30, 100,150,250,500,1000,2500 square meters to one hectare. For example a hectare drip irrigation solution for a plantain plantation can cost as low as N1.2 Million.” On whether it  adds to the cost of production or making farming profitable, Igbokwe said the initial investment in drip irrigation could be recouped at the 1st season or as the venture goes on.

    “Most drip kits which come as a complete package in a box excluding water storage tank  last more than 10 years and needs little or no maintenance if the standard operating instruction by the manufacturers is followed. For example, a kit of N55-60,000 will cover a farm with 1500 stands of pepper plants which can yield 180,000 fruits @ 12 fruits per stand and at a net sales of N360,000.

    With this picture you can see that it is very profitable to invest in drip irrigation kits. Do not forget that farming is not a magic money machine rather it’s an investment that must be followed till it starts yielding profit.”

    If the government subside drip irrigation, he said farmers having small land holdings in rain-fed areas can raise crops and earn decent incomes.

    For watchers, Nigeria is a fast-growing drip-irrigation market. There are concerns, however, that the pace of rapid agricultural growth could be undermined by plummeting levels of its water tables. Some farmers have abandoned their farm activities owing to shortage of labour and irrigation water.

    With introduction of micro irrigation, a lot of farmers may revive farm activities and adopt modern agriculture practices to boost production.

    Micro irrigation not only supply required quantum of water to crops but also prevent growth of weeds, and reduce labour in farm work.

    Very limited labour force would be sufficient to man the farm till harvesting.

    Experts are worried that Nigeria is wrestling with double-digit food price inflation, fuelled by a combination of higher input costs – including rising labour costs – and growing demand for higher-value food items by an increasingly affluent population. However, drip irrigation is a proven solution to both of these challenges.

     

  • Apapa-Iganmu LCDA disburses N320m micro credit loans

    Apapa-Iganmu LCDA disburses N320m micro credit loans

    The Apapa-Iganmu Local Council Development Area of Lagos State has granted N320 million loans under its micro credit scheme over the last three years,its chairman, Dr. Adesola Adedayo, said yesterday.

    Reviewing the programmes of the local council at a stake-holders’ forum at  Ijora-Badiya, Dr. Adedayo said  more than 8,000 petty traders, artisans and small-scale manufacturers in the area benefitted from the scheme.

    He described  the micro credit scheme  as  the bedrock of his women and youth empowerment programme.

    He said: “A major highlight of this heart-warming report is that customers’ re-payment stood at over 99 per cent while total portfolio at risk (doubtful and bad debt) stood at N1.5 million.

    “Considering the canons of lending employed in the packaging and delivery of these soft loans, I cannot but commend the integrity of our people,’’ adding: ‘’your response has put to rest the widely held misconception that lending to the poor is risky and fraught with uncertainty.’’

    The chairman said that the scheme was rooted in a tripartite agreement involving the council, Lagos State Micro-Finance Institution (LASMI) and Infinity Micro-Finance Bank Limited.

    Dr. Adedayo said the council was committed to the creation of more employment opportunities through the promotion of small-scale industries and vocational training.

    The chairman, who is a medical practitioner, said that the council had, under its free health programme, had performed 100 eye surgeries (mostly cataract extractions) and 670 other surgical cases of hernia, appendectomies, ovarian cysts, gynaecology and dentistry.

  • A micro Nigeria

    A micro Nigeria

    Title:History of the Okoroma People
    Author: Charles Amiebi
    Year of Publication: 2013
    Reviewer: Ojone Adejo

    Each and every month Nigeria moves from one crises to another. Oftentimes, these have to do with the structure of the country and what it means to be Nigerian. Even books are not left out of this as can be seen in the great to-do that followed the publication of the late Professor Chinua Achebe’s “There Was A Country.”

    No sooner was the book published than the country went up in uproar and ethnic warriors advanced to the trenches to defend their often narrow interpretations of historical events. And perhaps this is the problem. That ever so often, there is a tendency in the public sphere to take a perspective and demand that it is the perspective of historical events that happened to more than one person. There is no doubt that HRH, Charles Onoye Amiebi, the late king of Okoroma, was aware of these challenges when he set out to write his last book, “History of the Okoroma People”.

    The book, published in 2011 by Onyoma Research Publications in Port Harcourt, comes in at just a little over 100 pages and is chock full of pictures and maps which are further supported by four appendices. The author of the book, who is also the first King of Okoroma, died in 2012 and wrote a foreword to the book before his demise. The book was presented to the public on the 18th of November, 2013 at Yenegoa and the late king was buried thereafter in his native land. He presents the Okoroma people and their history, tracing through their migrations and locating their origins in a set of brothers who sojourned into the delta from Igalaland or Idomaland. He makes a careful study and presents the story up until the establishment of a traditional stool for the Okoroma people in which he served as Obanobhan of Okoroma from 1975 to 2012.

    One of the most important problems of modern Okoroma land is the same problem of Nigeria, that of identity. He notes, on page 54, that “present day Okoroma is hybrid, with generally mixed blood with Nembe.” He also takes pains to set out the numerous avenues by which Okoroma people, who speak a different language from the Nembe, became mixed with the Nembe. Amongst these avenues are—Nembe consultation of Okoroma oracles, the palm oil and palm kernel trade, access through Okoroma to the colonial trade hubs at Asaba and Aboh, fourthly as refuge to chiefs after the sacking of Nembe by Major Mange. The effect of all these has been a high level of intermarriage across centuries such that the modern Okoroma man is multilingual and speaks both Nembe and Okoroma, even when both languages are not even remotely related. Nor are the origins of the Okoroma and the Nembe similar.

    The unique hybrid nature of Okoroma people has also been one of the major challenges of their late kind and he very courageously catalogues these, naming names. Hear him on the second challenge in the struggle to emancipate Okoroma;

    “. . .the hybrid nature of the Okoroma people brought about by widespread intermarriage through history [tends to] blur the vision of many an uninformed Okoroma indigene to suffer divided loyalty whenever sensitive issues affecting Okoroma ethnic nationality present themselves. As a result, many Okoroma indigenes would rather ‘sit on the fence’ and jump over to the winning or stronger side when faced with adversities or trials or temptations.”

    But the late king of Okoroma shows us, through his book, that in the stress of this microcosm pulling itself apart, there can be another force—the integrative force.

  • A micro Nigeria

    A micro Nigeria

    Title:History of the Okoroma People
    Author: Charles Amiebi
    Year of Publication: 2013
    Reviewer: Ojone Adejo

    Each and every month Nigeria moves from one crises to another. Oftentimes, these have to do with the structure of the country and what it means to be Nigerian. Even books are not left out of this as can be seen in the great to-do that followed the publication of the late Professor Chinua Achebe’s “There Was A Country.”

    No sooner was the book published than the country went up in uproar and ethnic warriors advanced to the trenches to defend their often narrow interpretations of historical events. And perhaps this is the problem. That ever so often, there is a tendency in the public sphere to take a perspective and demand that it is the perspective of historical events that happened to more than one person. There is no doubt that HRH, Charles Onoye Amiebi, the late king of Okoroma, was aware of these challenges when he set out to write his last book, “History of the Okoroma People”.

    The book, published in 2011 by Onyoma Research Publications in Port Harcourt, comes in at just a little over 100 pages and is chock full of pictures and maps which are further supported by four appendices. The author of the book, who is also the first King of Okoroma, died in 2012 and wrote a foreword to the book before his demise. The book was presented to the public on the 18th of November, 2013 at Yenegoa and the late king was buried thereafter in his native land. He presents the Okoroma people and their history, tracing through their migrations and locating their origins in a set of brothers who sojourned into the delta from Igalaland or Idomaland. He makes a careful study and presents the story up until the establishment of a traditional stool for the Okoroma people in which he served as Obanobhan of Okoroma from 1975 to 2012.

    One of the most important problems of modern Okoroma land is the same problem of Nigeria, that of identity. He notes, on page 54, that “present day Okoroma is hybrid, with generally mixed blood with Nembe.” He also takes pains to set out the numerous avenues by which Okoroma people, who speak a different language from the Nembe, became mixed with the Nembe. Amongst these avenues are—Nembe consultation of Okoroma oracles, the palm oil and palm kernel trade, access through Okoroma to the colonial trade hubs at Asaba and Aboh, fourthly as refuge to chiefs after the sacking of Nembe by Major Mange. The effect of all these has been a high level of intermarriage across centuries such that the modern Okoroma man is multilingual and speaks both Nembe and Okoroma, even when both languages are not even remotely related. Nor are the origins of the Okoroma and the Nembe similar.

    The unique hybrid nature of Okoroma people has also been one of the major challenges of their late kind and he very courageously catalogues these, naming names. Hear him on the second challenge in the struggle to emancipate Okoroma;

    “. . .the hybrid nature of the Okoroma people brought about by widespread intermarriage through history [tends to] blur the vision of many an uninformed Okoroma indigene to suffer divided loyalty whenever sensitive issues affecting Okoroma ethnic nationality present themselves. As a result, many Okoroma indigenes would rather ‘sit on the fence’ and jump over to the winning or stronger side when faced with adversities or trials or temptations.”

    But the late king of Okoroma shows us, through his book, that in the stress of this microcosm pulling itself apart, there can be another force—the integrative force.

  • Diamond Bank, Rivers hold summit

    Diamond Bank, Rivers hold summit

    Diamond Bank Plc has partnered with the Rivers State Government to host the Wealth Creation and Poverty Reduction (WCPR) summit.

    It had as theme: Developing an effective comprehensive framework for wealth creation and poverty reduction in Rivers State.

    In a statement, the bank said the event, which held in Port Harcourt, was an initiative of the state government, through the Rivers State Office of the New Partnership for Africa’s Development (NEPAD) and the Rivers State Sustainable Development Agency (RSSDA).

    Diamond Bank said it is committed to supporting Micro, Small and Medium Enterprises (MSME) to grow businesses through capacity building, under its BusinessExpress Enterprise Series.

    The bank said it is supporting the growth of SMEs because it recognise that the future of a nation lies in the hands of entrepreneurs, so any energy expended in building up that sector cannot be wasted. It is something that is going to benefit the economy in years to come.

    ‘’The seminar is a complete package of everything a bank could provide to a small business to enable it grow. The BusinessExpress Enterprise Series is an initiative of the Diamond BusinessXpress Account (DBXA). It is a current account designed to meet the needs of MSME such as hotels, supermarkets, businessmen, professionals, travel agencies, trading outfits, schools, churches, fast food outlets, restaurants, clubs and entertainment outfits,” the statement added.