Economy
Tinubu Government Signs $158m Financing Deal To Boost Agriculture In Northern Nigeria
Tinubu Government Signs $158m Financing Deal To Boost Agriculture In Northern Nigeria
Tinubu government signs $158m financing deal to boost agriculture in northern Nigeria. The federal government has signed a $158.15 million financing agreement to implement the value chain programme in northern Nigeria (VCN).
The deal, signed at the presidential villa on Wednesday, aims to transform agriculture across nine states, according to a statement by Stanley Nkwocha, senior special assistant to the president on media relations (office of the vice president).
Nkwocha said the project is co-funded by the International Fund for Agricultural Development (IFAD), the French Development Agency (AFD), and the federal government.
He said the nine northern states include Borno, Bauchi, Kano, Katsina, Kebbi, Jigawa, Sokoto, Yobe, and Zamfara.
Speaking during the signing ceremony, Vice-President Kashim Shettima described the initiative as part of President Bola Tinubu’s commitment to reducing poverty, restoring the dignity of farmers, and ensuring food security.
Shettima said the VCN will also help in sustainably reducing poverty, enhancing nutrition, and improving the resilience of rural and most vulnerable populations in the states.
“This is a declaration of faith in the north—not as a region of deficits, but as a place of abundance,” the vice-president said.
“What has brought us together today is an investment of $158.15 million, co-financed by the International Fund for Agricultural Development (IFAD), the Agence Française de Développement (AFD), the Federal Government of Nigeria, and other stakeholders.
“This reflects President Bola Ahmed Tinubu’s commitment to prioritising what matters most—people, productivity, and prosperity.”
‘VCN WILL SERVE AS PIPELINE FOR RAW MATERIALS TO SAPZs’
Shettima said the programme will serve as a pipeline of raw materials to the special agro-industrial processing zones (SAPZs) being established across the country, and help shift Nigeria from exporting raw produce to value-added goods.
The politician also emphasised the need for self-sufficiency in food amid global trade tensions, noting that the VCN will promote the commercial cultivation of crops such as wheat and maize and support investment in irrigation, processing, and storage.
“What makes this programme exceptional is that it targets the underserved: women, youth, persons with disabilities, and returnees,” Shettima added.
“For a nation that has long relied on food imports, the message is clear: we must grow what we eat and produce what we trade.
“The VCN answers this call. By making wheat, maize, and animal feed viable for commercial cultivation and investing in irrigation, processing, and storage facilities in states like Kebbi and Jigawa, we are not just securing food—we are laying the groundwork for agricultural exports that can rival our oil.
“From farmer registration to market access, from input distribution to yield analysis.
“In regions where migration and insecurity are fuelled by joblessness, the VCN provides vehicles for enterprise, income, and dignity.”

Food Security
On his part, Abubakar Kyari, minister of agriculture and food security, said the financing agreement represents a significant milestone in the efforts to transform the agricultural landscape in Nigeria under the ‘renewed hope agenda’ of the Tinubu administration.
He added that the participation of the nine states and the presence of other critical stakeholders underscore the commitment of the sub-nationals and the federal government in fostering inclusivity in agricultural development and economic empowerment.
The minister also expressed confidence that the VCN will deliver programmes and projects to improve agricultural productivity and the overall well-being of smallholder farmers, farmer groups, and women across the region.
Dede Ekoue, IFAD’s country director, said the project is expected to impact about 3.1 million household members and create more than 30,000 jobs.
In addition, it would support climate-smart agriculture, digital solutions, and improved post-harvest value chains, he said.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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