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USAID awards Nigerian firm N592m grant to boost agriculture

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The United States Agency for International Development (USAID) has awarded N592 million grant to a Nigerian firm, LoftyInc Allied Partners Limited to enhance investment in agriculture.

Mr Michael Oluwagbemi, the Executive Partner of LoftyInc, said this in a statement on Monday.

Oluwagbemi said the money was a co-investment grant by the USAID-funded West Africa Trade and Investment Hub (Trade Hub).

According to him, the grant is aimed at inaugurating “Project Sparrow”, an initiative developed to reduce the risk of local and global investments in selected agribusiness and agritech companies in Nigeria.

He said that it would help the selected companies achieve higher productivity, better returns, inclusive growth and access to finance.

“Through assistance provided to these companies, Project Sparrow will achieve its overall goal of supporting the improvement of Nigerian smallholder farmers’ productivity and livelihoods in the U.S. Government’s “Feed the Future States” and select value chains.

“Project Sparrow is expected to positively impact more than 50 direct beneficiaries and a total of 25,000 smallholder farmers while creating 4,000 jobs,’’ he said.

Oluwagbemi added that in celebration of the project and its expected outcomes, LoftyInc had hosted a kick-off inauguration for the project in Abuja.

“The event brought together all stakeholders and leaders of agribusinesses in Nigeria, and staff representing financial institutions and other businesses that will support Project Sparrow.

“They include the Development Bank of Nigeria, the Nigeria Sovereign Wealth Investment Authority, the First City Monument Bank Plc, and Afrilabs,’’ he said.

He assured that LoftyInc was an innovation development company that supports start-up teams, innovation enterprises and social impact projects in Africa.

“The organisation is on a mission to contribute to the enhancement of lives by creatively investing in ideas and entrepreneurs, while positively changing the broader society.

“Access to funding has always posed a major challenge to innovative agric-focused start-ups and MSMEs in the country.

“The need to provide a solution to this challenge led to LoftyInc’s foray into innovation acceleration, angel investment, and venture capital, as well as microfinancing that provides various kinds of funding to novel business solutions covering various sectors of the economy,’’ he said.

The executive partner also said that Project Sparrow would provide incremental financing of 6.5 million dollars to more than 20 Micro, Small, and Medium Enterprises (MSMEs), most of which would be women or youth-led.

According to him, such support will make them better prepared for external funding.

Also speaking, Robin Wheeler, the Trade Hub’s Chief of Party, said he looked forward to seeing the long-term impact Project Sparrow would have in Nigeria.

“The Trade Hub and LotfyInc share the common goal of supporting small and medium-sized businesses to be drivers of economic growth in Nigeria.

“Project Sparrow represents an innovative and strategic way to accomplish this goal through not only giving high-potential companies much-needed access to finance, but the technical assistance and training needed to succeed as well. We are proud to support this project,” he said.
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The Trade Hub is a USAID-funded initiative.

It was designed to catalyse economic growth by collaborating with the private sector to generate new investment, create new jobs, and increase the value of regional and international exports in West Africa.

 

 

(NAN)

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#EndSARS Movement Was Funded From US To Ambush Tinubu From Becoming President – Bisi Akande 

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Asiwaju Bola Tinubu
President Bola Ahmed Tinubu
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The former interim National Chairman of the ruling All Progressives Congress (APC), has claimed that the #EndSARS movement was designed and funded from the United States of America against President Bola Tinubu.

According to him, the #EndSARS movement was heavily funded from the US with support from America and only brought to Nigeria to ambush Tinubu from becoming President.

Speaking in an interview with Edmund Obilo, as seen in a video which has now gone viral on social media, he mentioned that the .obedient movement were the ones behind the #EndSARS movement and protest.

He added that it was after the protest they attempted to transform into a political party and when it became impossible, they all migrated into another political party.

“EndSARS was designed to be the end of Tinubu. Those behind the EndSARS knew that’s what they were doing,” Akande declared during the interview.

Asked by the interviewer to identify those behind the EndSARS movement, Akande replied, “The obidients.”

“The Obidients were behind EndSARS; it was manufactured in America and brought in just to stop him (Tinubu).

“Obideints came from America to do the EndSARS and later became a movement to form a party, and they couldn’t form a party and joined whichever party,” the APC chieftain said.

Pushing further, the interviewer noted that Obidients are tied to Peter Obi and Akande, in response said: “Well, maybe Obi’s party, I don’t know, maybe Obi’s movement, I don’t know, but the obidients were behind the EndSARS.

“It was well planned with a lot of money from America.”

He added that it was an ambush that President Tinubu wasn’t aware of.

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Court Grants Sowore ₦10m Bail

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Omoyele Sowore
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The judge gave him 24 hours to perfect the bail conditions or be remanded by the police until the bail is perfected.

The convener of #Revolutionnow movement, Omoyele Sowore, has been granted bail to the tune of ₦10 million and one surety in like sum.

The surety must be a responsible individual with landed property valued in like sum.

The surety is expected to deposit the original documents of landed property and a passport photograph to the registrar of the court.

While ruling on the bail application, the trial judge, Justice Musa Liman, ordered Sowore to deposit his international passport with the registrar of the court.

The judge, however, gave him 24 hours to perfect the bail conditions or be remanded by the police until the bail is perfected.

Sowore had honoured the invitation of the police on Monday, January 27, 2025, when he was questioned at the Force Criminal Investigation Department.

He was subsequently granted administrative bail but rejected the conditions of bail and remained in custody.

The police later filed a 16-count charge of cybercrime against him.

In count three, the police said Sowore on December 20, 2024, through his X handle, called the Inspector General of Police, Kayode Egbetokun, “the illegal IG of Nigeria Police Force”.

Sowore is being accused by the police of posting the picture Egbetokun on his X handle with the caption: “Mediocrity, incompetence, corruption, a country run by characterless people can not make progress”.

The police also alleged that Sowore, through his X handle, said, “IGP Kayode Egbetokun will destroy the Nigeria police if we don’t act now”.

He pleaded not guilty to 16 count charge of alleged cybercrime.

 

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Nigeria Was On Life Support When Tinubu Assumed Office – Akpabio

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President Bola Tinubu and Senate President Godswill Akpabio
President Bola Tinubu and Senate President Godswill Akpabio
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The Senate President and Chairman of the 10th National Assembly, Senator Godswill Akpabio, has said the country was on a “life support” as at the time President Bola Tinubu assumed office in May 2023.

Speaking at his 2024 Constituency Briefing and Empowerment Programme held at the Ikot Ekpene Township Stadium, Akpabio, who represents Akwa Ibom Northwest Senatorial District, he called on Nigerians, particularly the people of Akwa Ibom State, to continue supporting President Tinubu as he works to address Nigeria’s economic challenges.

“Nigeria Was on Life Support,” he said.

His stance comes following ongoing major reforms such as the introduction of the tax bills, removal of fuel subsidies, floating of the naira, and others introduced by Tinubu.

Akpabio recounted a conversation with President Tinubu about the state of the economy inherited from the previous administration.

“Nigeria was on life support when Asiwaju Bola Tinubu took over. I once asked him, ‘Are you excited about being president after seeing the economy left behind by Emefiele?’ He replied, ‘I must tell you, I didn’t know it was this bad.’”

The Senate President expressed optimism about ongoing economic reforms, noting that while they may be painful, they are necessary for sustainable growth.

“You did it in Lagos, and you will do it again for Nigeria. It’s just a matter of time. We are praying for you, and God will grant you the wisdom to lead us to El Dorado.”

He advised beneficiaries not to sell their empowerment tools but to use them to uplift their families economically.

“We have enough foodstuff to distribute; there should be no stampede. These items are being extended beyond Ikot Ekpene to other senatorial districts in the state.”

“Your support has not only enhanced our educational experience but also inspired us to strive for excellence. Thank you for your unwavering support.”

Akpabio commended Governor Umo Eno for promoting peace and inclusivity in Akwa Ibom.

“Without peace, there cannot be development. The governor has embraced all Akwa Ibom people, regardless of political affiliations.”

He also acknowledged the governor’s Christmas gesture of distributing 1,000 bags of rice to the APC family in the state and announced an additional 1,500 bags of rice for the PDP State Chairman.

Akpabio praised Senate Minority Leader, Senator Abba Moro, for fostering unity in the Senate.

“Everyone in the Senate has an equal voice, regardless of party affiliation. Opposition is good, but it should be constructive.”

Senator Abba Moro described Akpabio as a leader committed to empowering his people.

“It takes wisdom to know what to give people for lasting benefits rather than instant gratification.”

Senator Asuquo Ekpenyong, Chairman of the Senate Committee on NDDC, called the empowerment programme “mega, marvellous, and magnificent.”

The event was attended by key political and community leaders, including,

Obongemem Ekperikpo Ekpo (Minister of Petroleum Resources, Gas) Senator Ita Enang (APC Chieftain), Senator Ekong Sampson (Akwa Ibom South), Paramount Rulers of Ikot Ekpene and Essien Udim

In closing, Akpabio emphasised the importance of collective effort in building a better Nigeria and assured constituents of continued representation and development-focused initiatives.

 

 

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