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Nigerian press highlights guidelines for central bank’s agric. programme, others

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The guidelines for the operation of the Private Sector-led Accelerated Agriculture Development Scheme (P-AADS) to facilitate increased private sector agricultural production and the concern of Nigeria’s Budget Office that some 428 agencies of government will not be able to pay November salary are some of the trending stories in Nigerian newspapers on Wednesday.


ThisDay reports that the Central Bank of Nigeria (CBN) yesterday unveiled guidelines for the operation of the Private Sector-led Accelerated Agriculture Development Scheme (P-AADS) to facilitate increased private sector agricultural production of staple foods and industrial raw materials as well as support food security, job creation and economic diversification.

The P-AADS is designed to complement the Accelerated Agriculture Development Scheme (AADS), earlier introduced by the apex bank to engage 370,000 youths in agricultural production, in collaboration with state governments as well as address the food security and youth unemployment challenges across the country.

Efforts at growing the economy also received a boost from the United Nations (UN) with the provision of $250 million for Nigeria’s Economic Sustainability Plan.

The UN offer, which is aimed at complementing Nigeria’s COVID-19 economic recovery efforts under the Nigerian Economic Sustainability Plan (ESP) initiative, was hailed by Vice President Yemi Osinbajo.

The Guardian says that the Director-General of Budget Office, Mr. Ben Akabueze, has expressed concern that some 428 agencies would not be able to pay November salary.

Appearing before the Senate Committee on Public Account to interface on the new minimum wage, Akabueze indicated that the Federal Government would revert to service-wide vote to cater for the shortfall in emoluments for the month in question.

“We will take from the service-wide vote to take care of the shortfall in workers’ salary,” he said.

Earlier, the committee chairman, Senator Mathew Urhoghide, accused the executive of “deliberately under-funding the Office of Auditor General of the Federation”.

He wondered “how could an agency that is meant to fight institutional corruption be under-funded by the executive, while other agencies like the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other Related Offences Commission (ICPC) are properly funded.”

The newspaper reports that despite benefitting from proceeds of alcohol sale through the Federation Accounts Allocation Committee (FAAC), Kano State Government, for religious reasons, destroyed 1,975,000 bottles of beer worth over N200 million last weekend. The products were confiscated within Kano metropolis and destroyed publicly.

The value of destroyed alcoholic beverages represents 7.5 percent of the State Government’s September Gross VAT allocation.

While Kano might have openly destroyed the products, many Northern states have penal codes prohibiting the consumption of alcohol in line with the Sharia law.

Kano Hisbah Commission, yesterday, vowed to sustain surveillance and confiscation of alcoholic beverages and other related intoxicants being ‘imported’ into Kano, insisting that consumption, sales, and distribution of alcohol is forbidden by the law.

It insisted it would cripple the network of alcoholic distribution, as dealers count losses.
The Punch says that the Nigerian Employers’ Consultative Association has estimated the loss of investment and assets by the organised private sector as a result of the arson and looting that followed the recent #EndSARS protests across the country.

The President of NECA, Taiwo Adeniyi, while speaking at a press conference on Tuesday, said the estimation was based on findings from privately-owned businesses that had been affected by the massive destruction across the country.

According to him, the affected businesses are still stuttering from weakened growth and struggling to recover from the negative effects of COVID-19 pandemic. Adeniyi said the destruction was affecting the businesses to meet financial obligations to creditors, employees and regulators.

He said, “Organised businesses became some of the victims of the colossal and barbaric destruction and vandalism of critical investment and assets by hoodlums.

The newspaper says that the Founder, Stanbic IBTC Bank Plc, Mr. Atedo Peterside and Lagos Chamber of Commerce and Industry have condemned the selective approach of the government to economic policies.

They spoke in reaction to the exemption of Dangote Cement, BUA and a gas supply firm from land border trade restriction policy of the government.

The Nigeria Customs Service on Tuesday also confirmed that the three companies were granted approval to export their products via land borders by the government.

Peterside queried the decision of the government to allow only selected companies to move goods across the border, in a Tweet on Tuesday. He said all legitimate exporters should be allowed access to the border for export purposes. The tweet read, “When will the FG consider small honest businesses that are not so well-connected?

“I have since learnt that BUA Group was also allowed to export goods through Nigeria’s “closed” land borders. FG should please accept that what is good for the goose is also good for the gander.” Peterside had earlier tweeted, “Allowing legitimate exporters and importers to move their goods across the border should be a no-brainer.

The Sun says that the Director General of the Nigerian Insurers Association (NIA), Yetunde Ilori, has assured insured business owners whose properties were affected during the #Endsars protest of prompt settlements by their insurers.

The DG, who gave the assurance in a webinar described the level of damage and losses incurred during the violence as collosal and catastrophic, “because the insurance industry has not had time to do much business this year.”

Confident that the industry was well set to handle such situation, she noted that insurance is about handling such unforeseen circumstances, saying all insurance companies must have assumed responsibility, putting in place cover for their clients at this time.

“I believe simultaneously they would have put in place real insurance arrangement to cover their back as well.”

 

GIK/APA

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