Category Nigeria News

The Anchors Borrowers Programme (ABP) expenditures totaled $1. 11 trillion, according to the House of Representatives Committee on Nutrition and Food Security.

The committee is also looking into the NIRSAL Microfinance Bank’s $ 215 billion investment in agro-businesses as well as the Bank of Industry’s $ 3 billion grant to 22, 120 smallholder farmers through the agriculture value chain financing program.

During an investigation hearing on the alleged misuse of government interventions and agricultural funding by federal government departments, agencies, schemes, and programs, the committee’s chairman, Chike Okafor, expressed concern that of the 24 participating financial institutions (PFIs), only nine of the institutions had evidence to support their claims.

Read more about CBN’s affirmation of the strength of the Nigerian banking sector.

He claimed that one of the committee’s main oversight responsibilities is to ensure the effective implementation of government intervention programs in the areas of food security and nutrition.

He continued, “We are looking into how the Central Bank of Nigeria distributed about 1.1 trillion to 4.67 million farmers who work in maize, rice, or wheat through 563 anchors.

We are aware that you have about 24 participating financial institutions (PFIs) through which to distribute these astronomical sums, The CBN should take note. You have written to 24 of them, which is unusual, but we only have nine of them, as I am aware of. So, take note. Additionally, some of those PFIs have attempted to contact them.

Second, we are looking into how the Bank of Industry, along with NIRSAL, has already disbursed N215, 066, 982, and 074.50 to 22 smallholder farmers through the agriculture value chain financing program.

“One of the Committee on Nutrition and Food Security’s key oversight mandates is to ensure the proper execution of intervention programs by relevant Ministries, Departments, and Agencies (MDAs) and government agencies in the fields of food security and nutrition.” Including investigations into nutrition and food security, monitoring of resource allocation, the development of new laws, and strengthening existing ones, among others.

According to the House’s standing order, “These are fully enshrined in the committee’s jurisdiction.” Please take note that the current administration‘s renewed hope agenda included nutrition and food security as two unrelated issues that cannot be separated.

The establishment of this committee on nutrition and food security is a legislative move to address these issues and promote the development of a food-secured and nourished populace in Nigeria, he added.

Insecurity, according to a NIRSAL Microfinance Bank representative, poses a significant risk to the successful operation of their loan program.

He claimed that they carefully considered laid-down guidelines when determining who was qualified to receive the intervention.

According to Bassey, “We distributed these funds based on those guidelines.” Insecurity challenges are some of the issues they have covered in their writings. A few of them had complained that because of the banditry and herdsmen’s experience, they were unable to return to the farms after investing in agricultural business.

And these prevented them from extending their harvesting and seasonal interventions. Some cited other factors that affected them, such as flooding and drought. A few of them, according to Bonney, actually requested that the loan facility be restructured so they could pay their balances on time.

Sterling Bank, Olushola Obikanye, the group head of Agric Finance and Solid Minerals, reported that they had repatriated 113, 490, 756, and 332.54 to the CBN and were not due under the scheme.

The total funds returned to the Central Bank of Nigeria are therefore the sum of both the returned und returned funds that were disbursed. The total funds repatriated to the central bank stood at ₦113, 490, 756, 332.54. And Sterling Bank is still due under this scheme an outstanding sum of zero naira and zero kobo, he said.

Senator David Umahi, the minister of works, has announced that Levant Construction Ltd.’s contract on the Benin-Sapele-Warri Road project has been terminated due to what he has called “non-performance and failure to remobilize to site despite repeated warnings.”

According to Umahi, at a meeting held on June 17th, 2025, Levant failed to fulfill the requirements for Section I of the road (Benin–Imasabor), which was a project funded by the Ministry of Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

There are three sections, they say. Unfortunately, Levant has not lived up to its reputation. Even the governor of Edo State was required to intervene and demand intervention. One part was requested by Levant, but they left the site.

They continued to ignore the warnings and final termination notice that were issued after several warnings. We now have instructed the Permanent Secretary to finalize the termination and begin a joint evaluation with them, he said.

He also issued a warning that the issue would be escalated to the Economic and Financial Crimes Commission (EFCC) if Levant’s bank failed to notify Levant of the start of the Advance Payment Guarantee (APG) repayment process and that any non-compliance would result in an escalating issue.

Oyo Approves $ 63.4 billion to replace government building structures

The Minister applauded SKECC Nigeria Ltd and Geld Construction Ltd’s efforts, which have both agreed to resume work on their respective sections of the road, despite the setback.

He also praised the project’s support and participation by the governors of the Edo and Delta States.

Governor Sheriff Oborevwori and his team made a commitment to concrete reinforcement of 10 kilometers after the beautiful flyovers. Edo State governor Monday Okpebholo is also making significant efforts. “We’re appreciative,” said Umahi.

The Minister noted that SKECC’s NNPC budget allocation had been exhausted while urging the company to finish its milled section while making a comment about challenges with project funding. Additionally, Grid Construction has agreed to return to the site, including the 34-kilometer Itoki-Ikorodu road and the Lokoja–Abuja road, with the promise of revised rates.

No marginalization

Umahi responded to recent accusations of marginalization of the North in road development as “absolutely unfounded, malicious, and uncharitable.”

We don’t care where people come from or where projects are located in this ministry. Mr. President has continued all inherited projects, regardless of location, as evidenced by his leadership.

According to Umahi, according to the figures, the Niger State alone accounts for 26% of NNPC Tax Credit projects, compared to 4% of NNPC Tax Credit projects in the South-West and 4% in the South-East.

Under the Renewed Hope administration, significant attention has been given to the projects in the North, such as the 525 billion Abuja-Kano highway and the 825 billion Sokoto-Zamfara-Katsina-Kaduna road.

He added, “The North has 52% and the South has 48% when you look at the President’s four legacy projects. Thus, the claim that one region is being favored over another is completely false.

Umahi explained that progress had been made, including the completion of one carriageway, four flyover construction, and the ongoing Aleto Bridge, despite the much-criticism surrounding the Eleme-Onne axis of the East-West Road.

In light of the growing concern over the violence that has caused the state’s loss of lives and property, President Bola Tinubu will travel to Benue State on Wednesday.

Following the recent attack, which left at least 59 residents dead and hundreds of people displaced in the Yelwata community in the Guma Local Government Area on Friday.

The President said he would change his schedule to visit the state on Wednesday while empathizing with the people of Benue at the opening of the Greater Abuja Water Supply Network on Monday.

I’ll Change My Schedule To Visit Benue People On Wednesday — Tinubu, Read More:

President Tinubu has already dispatched the Inspector General of Police, the heads of intelligence agencies, the National Security Advisor, and the chairmen of the Senate and House Defense Committees to Benue State, according to a statement released on Monday by his Special Adviser on Information and Strategy, Bayo Onanuga.

Tinubu is scheduled to hold a town hall meeting with stakeholders while he is in Benue.

Youth protests in Yelwata sparked a demand for an end to the violence that resulted from the killings.

Atiku Abubakar, the Peoples Democratic Party’s candidate for president in 2023, and Peter Obi, his counterpart in the Labour Party, who urged the President to take immediate action to stop the killings, also received criticism for it.

Pope Leo XIV, the Catholic pontiff, called for peace on Sunday after praising what he termed a “massacre.”

General Christopher Musa, the Chief of Defence Staff, met with stakeholders in Benue on Tuesday and demanded cooperation to stop the state’s recent wave of killings.

The Armed Forces support you, Musa declared. What is happening causes us pain. It’s a personal decision for me. When our armed forces are executing people, I don’t want to be their chief of defense. No.

We have visited Liberia, Sierra Leone, other nations, and brought peace, they say. Why not in our own nation?
No member of the armed forces is going to oppose one, I can assure you of that. We’re prepared to pursue a person if we notice one.

The Benue State Government has declared a state-wide public holiday in anticipation of the visit.

President Bola Tinubu has flagged off the construction of the annex office of the Independent National Electoral Commission (INEC) in Abuja, saying the edifice symbolises Nigeria’s commitment to electoral integrity, institutional autonomy, and democratic growth.

At the ground-breaking event on Tuesday, Tinubu described the event as one of national significance.

“It is a great honour and sense of purpose that I stand before you to flag off the construction of a new national office — the annex of the headquarters of the Independent National Electoral Commission.

” We are committed to ensuring that INEC is fully equipped — not only in infrastructure but in law, policy, and resources — to carry out its constitutional mandate with courage, fairness, and excellence, “Tinubu said.

According to him, the project represents far more than a physical structure. He said it is a reaffirmation of the government’s dedication to strengthening democracy.

” Today’s ceremony is not merely about bricks and mortar. It is about the strength of our democracy, the independence of our institutions, and the future of our electoral integrity, “Tinubu said.

READ ALSO: FG Moves To Close $2.3trn Infrastructure Gap Through PPP

He praised INEC’s role in sustaining Nigeria’s democratic process, noting that the commission has been and remains the backbone of the nation’s democratic journey.

” Its role in conducting free, fair and credible elections is central to the trust our people place in their government and our democratic process. For this reason, it is only right that such a pivotal institution is housed in a structure that reflects the dignity, responsibility, and national significance of that institution, “he said.

The President added that the new building signals” our unwavering support for INEC’s autonomy, the capacity and growth it will provide — not just a conducive home, but a hub for innovation, planning, training, and transport in electoral administration”.

The President also commended the Minister of the Federal Capital Territory, Nyesom Wike, for initiating the project, and lauded it as another step towards safeguarding democracy.

” By initiating this project, the FCT Minister, Nyesom Wike, has taken another important step towards the protection of our democracy. I say thank you very much. I salute your vision, courage, and commitment to the progress and development of our country, “he said.

Tinubu further lauded the leadership and staff of the FCTA and INEC for their resilience and efforts in laying a stronger foundation for Nigeria’s democratic institutions.

To Nigerians, he stated that our” democracy is not a destination but a journey, “urging that” Together, let us strengthen our institutions, safeguard our freedom and protect the future. “