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Agribusiness: Why Adamawa Assembly Approved N100b Bond



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It’s become imperative to clear the air, the doubts, and the hullabaloo that surrounded the 100 billion naira bond approved by the Adamawa State House of Assembly as part of measures to improve Internally Generated Revenue (IGR) through Agribusiness.

A bond is a fixed income instrument that provide funds for projects. A bond could be thought of as an I.O.U. between the lender and borrower that includes the details of payments.

Bonds are used by companies, municipalities, states, and sovereign governments to finance projects and operations. Owners of bonds are debt holders, or creditors, of the issuer. Bond details include the end date when the principal of the loan is due to be paid to the bond owner and it usually includes the terms for variable or fixed interest payments made by the borrower.

Let’s look at the benefits of this bond. In the face of dwindling economic resources in the country, the Adamawa State Government has deemed it necessary to prioritize Agribusiness to boost its IGR through the services of a consultant, Arewa Research and Development Project.

The Government came up with a programme tagged “Adamawa State Agribusiness Support Programme” (ADAS) designed to take full advantage of the agricultural opportunities within the state and will focus on three areas of Crop Value chain, Livestock and Acquaculture.

What Adamawa state stands to reap include Increase in the annual IGR from 8.3b on inception to 45b by the tenth year, return of the warehoused 5.15b credit Guarantee fund and Increase in Gross Domestic Product GDP from 1.7 b to 7.8 trillion among others.

In his presentation, the leader of the team Arewa Research and Development Project Aminu Buhari said the programme will provide Credit Guarantee Scheme of 5.15 billion that will be used to generate additional IGR of 2.4b in the first year of operations.

He added that it will also upgrade some selected grains and cattle markets in Mubi, Ganye, Song, Gombi, Ngurore, Tungo, Malabu, and Wuro bokki adding that it will drive socioeconomic benefits in the areas of employment generation, poverty reduction, wealth creation and improved security.

The programme will also improve economic fortunes of the state by creating one stop program that will focus on Agribusiness over a ten year period, creating and institutionalising market and their associate infrastructure reforms and attracting investment in the key sectors of the economy.

Besides, we need to understand that upon engagement of the firm by the government, it met with the ministries of Livestock and aquaculture, Agriculture, Finance and Budget, Planning Commission and Economic team of the state after which it completed all submissions and is awaiting approval to commence full implementation.

After looking at the benefits of Agricbusiness to Adamawa, the State Executive Council during its first meeting for 2021 has approved the issuance of one hundred billion naira bond for the Adamawa State Agric Business Support for the period of four years.

The Agric bond will draw twenty five billion naira annually which will be used to offset alot of state liability and loans, and open a window for generating a lot of revenue as well as galvanizing the market in the Agric business, especially the livestock subsector.

In addition, there will be establishment of Adamawa State Agric Business Support Programme, Five agencies and repositioning of the Agricultural Development Programme and Board of Internal Revenue.

The agencies include Agricultural Project Coordination Agency, Infrastructural Concession Agency, State Agricultural and Land Development Agency, and fine tuning the mandate of Adamawa Investment Company and to link it with the Investment Promotion Agency that will be established.

However, the present administration of Governor Ahmadu Umaru Fintiri is not in any way planning to mortgage the future of Adamawa as speculated by the opposition, but rather the present administration which inherited huge debt cannot allow it to be bequeathed to the next generation.

This is because, for sure, most of the state debts and liabilities were incurred by previous governments, hence the need for the present leadership in the state to tirelessly work to right the wrongs by engaging consultants in the field of Agricbusiness to salvage the state.

This Agric business plan has worked in Kaduna and other two states in the country which when implemented will generate seven hundred and fifty as well as one thousand five hundred both direct and indrect jobs across Adamawa.

Muhammad Bakari Tukur is a Senior Special Assistant (SSA) to Adamawa State Governor, Ahmadu Umaru Fintiri on New Media.

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Atiku Calls For Speedy Declaration Of Adamawa Guber Election Result




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By Muhammad B. Muhammad

Former Vice President, Alh Atiku Abubakar has urged the Independent National Electoral Commission (INEC) to release Adamawa State Governorship election results unfailingly today.

Atiku who is the Presidential Candidate of the People’s Democratic Party (PDP) in this February Presidential election made the call during a press conference in Yola Monday.

He calls on Nigerians and International community to mount pressure on the INEC to announce what he described as the mandate expressed by the people Adamawa people.

“I’m reaching out to Nigerians and international community to put pressure on INEC to release our results in Adamawa State today unfailingly because as the more the delay, the more the tension.

“I personally spoke with the INEC Chairman last night couple of times and pleaded with him to allow the result to be announced as stipulated by law,” Atiku added.

He observed that the actions of INEC has caused serious tension in the state that has been peaceful, saying “we don’t know any violence and yet the attitude of INEC in the state least much to be desired.”

Alh Abubakar said Adamawa is a multi ethnic and multi religious state but the action of INEC was trying to destabilize the stability that has long been existed in the state.

“We thought that the processes are improving by every election but unfortunately with this election, we have not seen improvement that we expect from INEC,” he said.

He maintained that 20 out the 21 local government results were so far collated and it was only Fufore that they tried to alter the results.

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2023 Polls: Taraba Deputy Governor, Manu Commends INEC, Calls For Peace




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Taraba State Deputy Governor, Engr. Haruna Manu on Saturday commended the INEC for swiftly testifying the lapses discovered during the 25th February 2023 Presidential and National Assembly election in the state.

Manu who is also the Senator-elect representing Taraba Central, made the commendation while fielding questions from newsmen shortly after casting his vote for the governorship and state house of assembly election alongside his wife at Isa II Kofar Manu polling unit in Mutum Biyu, Gassol local government area of the state.

He said by rectifying the mistakes made during the first phase of the election by the Independent National Electoral Commission in the state, Tarabans will exercise their franchise without hitches.

According to him, from the information reached him, the election generally was going on peacefully, adding that people were allowed to vote for candidates of their choice without any threat.

The Senator-elect assured his constituents of quality representation at the Red Chamber and promised to ensure that the needs they highlighted for him would be achieved during his tenure.

Engr. Haruna Manu also expressed confidence that his party the PDP will win the governorship election and the majority of the state house of assembly seats in the state.

He appealed to the people of the state to remain calm, law-abiding, and embrace one another, as well as urged them to accept the outcome of the election in good faith when INEC finally declared the winners of the governorship and state assembly seats.

Our Correspondent gathered that the elections were conducted smoothly across the sixteen LGAs of the state besides Donga LGA where hoodlums destroyed ballot boxes.

He, however, observed a low turnout of voters in some areas, while in some polling units, the turnout was higher than in the Presidential and National Assembly election that took place last month.

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2023 Polls: You Are A Liar, Taraba CAN Chairman Tells Senator Bwacha 




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Hammed Abubakar, Jalingo 

The Chairman Christian Association of Nigeria (CAN) Taraba State Chapter, has faulted claims by the Governorship Candidate of the APC, Senator Emmanuel Bwacha, that the Chairman of the association, Rev Dr. Isaiah Magaji Jirapye apologized to him over the endorsement of Col. Agbu Kefas, PDP Governorship candidate by CAN.

Jirapye said, “it was very unfortunate for the personality of Senator Bwacha to have lied on Channels Television that I, the CAN Chairman visited him secretly and apologized over the endorsement of Col Agbu Kefas by the CAN”.

He said that all that Senator Emmanuel Bwacha said about CAN during his interview with Channels TV should be regarded as baseless, adding that the embattled APC governorship candidate is busy chasing a white goose. 

According to the CAN Chairman, “the meeting between myself and Senator Bwacha after the endorsement of Col. Agbu Kefas was for him to take the endorsement in good fate since it was a  unanimous decision by CAN, but I am surprised to hear the Senator on Channels Television lying that I went to apologize to him over the endorsement. 

Jirapye urged Senator Emmanuel Bwacha to desist from dragging CAN in his desperation to govern the State for his selfish reasons. 

“CAN position on endorsement was a unanimous decision and not that of myself the Chairman alone so I  advise desperate politicians to desist from using my name for their selfish interests”.

CAN warns desperate politicians such as Senator Bwacha whom he said lack manners but called themselves Christians, and at the same time insult their spiritual leaders at will to trade with caution. 

CAN is shocked by the kind of outburst of cancerous anger from the Senator and pray God to deliver him from such a problem, saying People of Bwacha’s character should be watched carefully and never be entrusted with Leadership positions to govern the people. 

The Chairman noted that the endorsement of the PDP governorship candidate Col. Agbu Kefas by CAN was in the best interest of the people of the State. 

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