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Finance Ministry to Take Over CBN’s Finance Development Function

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By Yusuf Danjuma Yunusa

In a significant policy shift, the Federal Ministry of Finance will now assume responsibility for national development finance activities, a role previously managed by the Central Bank of Nigeria (CBN). This move aims to establish a clearer, more sustainable framework for mobilizing long-term investment into the country’s priority sectors.

The transition fills a strategic gap left nearly two years ago when the CBN halted its direct funding of development programs, which had constrained financing for critical areas like infrastructure, energy, and agriculture.

Unveiling the new strategy, the Minister of State for Finance, Doris Uzoka-Anite, announced that the ministry will issue comprehensive guidelines for a forward-looking development finance model. She positioned Domestic Development Finance Institutions (DFIs)—such as the Bank of Industry and the Nigerian Export-Import Bank—as central pillars in achieving Nigeria’s growth and investment ambitions.

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“Given the scale of Nigeria’s growth targets and the need to mobilize an estimated N246 trillion in patient capital by 2036, the government recognizes DFIs as essential partners,” Uzoka-Anite stated. “They will de-risk priority sectors, bolster investor confidence, and catalyze large-scale private capital.”

DFIs will provide long-term financing, concessional instruments, technical expertise, and risk-sharing to sectors where private investment has lagged despite strong potential. Key focus areas include infrastructure, energy transition, agribusiness, healthcare, climate-resilient industries, and digital public infrastructure.

The minister outlined a dedicated strategy to enhance the capacity and impact of domestic DFIs, among which are: enhanced capitalization, governance reforms, risk-sharing mechanisms, and treasury & policy alignment.

The ministry plans to leverage both domestic and international partnerships to accelerate capital mobilization and project delivery. Uzoka-Anite emphasized aligning all financing with climate resilience, financial inclusion, and sustainability goals in line with global standards.

“Nigeria’s reform momentum, policy clarity, and execution discipline create a credible platform for DFIs to deploy capital at scale with measurable impact,” she added.

This reassignment of responsibility follows the CBN’s strategic withdrawal from direct intervention financing. Shortly after his appointment, Governor Olayemi Cardoso announced the bank would cease funding development programs, refocusing on its core monetary mandates. In December 2023, the CBN formally suspended new loans under all existing intervention schemes while continuing to recover previously disbursed funds.

The Federal Government has affirmed its commitment to maintaining policy consistency and institutional coordination to ensure the success of this new DFI-led approach.

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Labour Party Returns to Its Roots: A Chance for Reform and Grassroots Mobilization

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After months of legal and political contest, the Labour Party appears to be returning to the control of its founding base Nigeria’s organized labour movement and grassroots supporters. Party insiders told reporters that the shift marks “a re‑alignment with the original vision of the Labour Party as a workers’ platform.”

The Labour Party was originally established with strong backing from the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) of Nigeria. According to labour historians, the party was designed to provide workers, professionals, and ordinary citizens with a political platform that represents their interests.

However, analysts note that the party’s recent surge in popularity attracted many political actors, creating internal struggles over leadership and direction. The dispute eventually reached the Supreme Court of Nigeria, which on 5 April 2025 ruled that political parties must operate according to their constitutions and internal democratic principles. Legal experts described the judgment as “a landmark decision reinforcing party discipline.”

Labour leaders say the ruling represents an opportunity to rebuild the party around its original ideology of social justice and people‑centered governance. Speaking in Kano, Comrade Abbas Ibrahim, Assistant Secretary of the NLC Kano Council, emphasized that “this is a chance to restore the Labour Party’s founding mission as the political voice of Nigeria’s working people.”

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Stakeholders argue that to prevent future hijack, the party must strengthen internal democracy, ensure transparent primaries, and create institutional roles for labour organizations in its decision‑making structures. According to party officials, clear membership verification and strong disciplinary measures will also be necessary to discourage opportunistic infiltration.

Beyond internal reforms, Labour Party leaders believe the real task is rebuilding grassroots structures across the country. In a statement, senior officials explained that mobilizing trade unions, youth groups, professionals, and community networks will be key to transforming the party into a strong mass movement.

Political observers caution that the coming months will determine whether the party can consolidate its base and maintain its identity as a genuine workers’ platform. One analyst noted that “the Labour Party’s survival depends on whether it can balance its grassroots appeal with the pressures of national politics.”

For many supporters, the moment represents more than a leadership victory. As Comrade Ibrahim put it, “At last, the Labour Party has returned to its roots, underscoring the need for persistent reform, visibility, and mobilization to guard against political hijack. A stitch in time saves nine.

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Ambassadorial Posting: FFK, Reno Posted to Germany, Mexico

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By Yusuf Danjuma Yunusa

President Bola Ahmed Tinubu has approved the postings of 31 career and 34 non-career ambassadors to various countries and the United Nations.

In the list which was released by Bayo Onanuga, Presidential spokesman, on Friday afternoon, a total of 65 ambassadors and High Commissioners were posted across the country.

The Senate confirmed the ambassadors-designate last December last year.

Former Chairman of the Independent National Electoral Commission (INEC), Mahmud Yakubu, was posted to Qatar, Femi Fani-Kayode was posted to Germany, while Reno Omokri was posted to Mexico.

Senator Jimoh Ibrahin was posted to the United Nations; former Chief of Army Staff and Minister of Interior, Abdulrahman Dambazau was posted to China, while ex-Governor Okezie Ikpeazu is the new ambassador to Spain.

Below is the list:

POSTINGS OF NON-CAREER AMBASSADORS / HIGH COMMISSIONERS

S/N NAME MISSION APPROVED
1. SENATOR GRACE BENT: LOME-TOGO
2. SEN. ITA ENANG: SOUTH AFRICA
3. IKPEAZU VICTOR: SPAIN
4. NKECHI LINDA UFOCHUKWU: TEL-AVIV, ISRAEL
5. MAHMUD YAKUBU: QATAR
6. PAUL OGA ADIKWU: THE VATICAN CITY HOLY SEE
7. VICE ADMIRAL IBOK-ETE EKWE IBAS: THE PHILIPPINES
8. MR. RENO OMOKRI: MEXICO CITY, MEXICO
9. HON. (ENGR.) ABASI BRAIMAH (FMHR): BUDAPEST, HUNGARY
10. MRS. ERELU ANGELA ADEBAYO: PORTUGAL
11. BARR. OLUMILUA OLUWAYIMIKA AYOTUNWA: TOKYO, JAPAN
12. RT. HON. UGWUANYI IFEANYI LAWRENCE: ATHENS, GREECE
13. BARR. CHIOMA PRISCILLA OHAKIM: WARSAW, POLAND
14. AMINU DALHATU: UNITED KINGDOM, UK
15. LT. GEN ABDULRAHMAN BELLO DAMBAZAU: BEIJING, CHINA
16. HON. TASIU MUSA MAIGARI: GAMBIA
17. OLUFEMI PEDRO: AUSTRALIA
18. BARR. MUHAMMED UBANDOMA ALIYU: ARGENTINA
19. LATEEF KAYODE ARE: USA
20. AMB. JOSEPH SOLA IJI: RUSSIA
21. SEN. JIMOH IBRAHIM: UN PERMANENT REPRESENTATIVE
22. FEMI FANI KAYODE: GERMANY
23. PROF. ISAAK FOLORUNSO ADEWOLE: OTTAWA, CANADA
24. AJIMOBI FATIMA FLORENCE (F): AUSTRIA
25. MRS. LOLA AKANDE (F): SWEDEN
26. AYODELE OKE: FRANCE
27. YAKUBU N. GAMBO: SAUDI ARABIA
28. SENATOR PROF. NORA LADI DADUUT: SEOUL, SOUTH KOREA
29. BARR. ONUEZE CHUKWUJIKA JOE OKOCHA SAN: DUBLIN
30. DR. KULU HARUNA ABUBAKAR: TUNIS, TUNISIA
31. RT. HON. JERRY SAMUEL MANWE: PORT OF SPAIN, T&T

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POSTINGS OF CAREER AMBASSADORS / HIGH COMMISSIONERS LIST

S/N NAME MISSION APPROVED
1. AMB. NWABIOLA EZENWA CHUKWUMEKA: COTE D’IV/OIRE
2. BESTO MAIMUNA IBRAHIM: NIAMEY-NIGER
3. MONICA OKWUCHUKWU ENEBECHI: SAO TOME, STP
4. AMB. MOHAMMED MAHMUD LELE: ALGIERS-ALGERIA
5. ENDONI SYNDOPH PAEBI: OUAGADOUGOU-BURKINA FASO
6. AHMED MOHAMMED MONGUNO: CAIRO EGYPT
7. AMB.JANE ADAMS (NEE OKON) MICHAEL (F): KINGSTON-JAMAICA
8. AMB. CLARK-OMERU ALEXANDRA (F): LUSAKA-ZAMBIA
9. CHIMA GEOGGREY LIOMA DAVID: BAMAKO-MALI
10. AMB. ODUMAH YVONNE EHINOSEN: MALABO –E/GUINEA
11. AMB WASA SEGUN IGE: BEIRUT, LEBANON
12. RUBEN ABIMBOLA SAMUEL (F): ROME, ITALY
13. AMB.ONAGA OGECHUKWU KINGSLEY: MAPUTO, MOZAMBIQUE
14. AMB.MAGAJI UMAR: KINSASHA, DR CONGO
15. AMB.MUHAMMAD SAIDU DAHIRU: NEW DELHI-INDIA
16. AMB. ABDUSSALAM HABU ZAYYAD: DAKAR-SENEGAL
17. AMB SHEHU ILU BARDE: ACCRA GHANA
18. AMB.AMINU NASIR: ETHIOPIA
19. ABUBAKAR MUSA MUSA: N’DJAMENA, CHAD
20. AMB. HAIDARA MOHAMMED IDRIS: THE HAGUE-NETHERLANDS
21. AMB.BAKO ADAMU UMAR: RABAT-MOROCCO
22. AMB. SULU GAMBARI OLATUNJI AHMED: MALAYSIA
23. AMB.ROMATA MOHAMMED OMOBOLANLE (F): TANZANIA
24. AMB. SHAGA JOHN SHAMAH: BOTSWANA
25. SALAU, HAMZA MOHAMMED: TEHRAN, IRAN
26. AMB.IBRAHIM DANLAMI: KENYA
27. IBRAHIM ADEOLA MOPELOLA (F): COTONOU-BENIN
28. AMB.AYENI ADEBAYO EMMANUEL: BRUSSELS, BELGIUM
29. AMB.AKANDE WAHAB ADEKOLA: BERNE-SWITZERLAND
30. AMB. AREWA (NEE ADEDOKUN) ESTHER (F): WINDHOEK-NAMIBIA
31. AMB.GERGADI JOSEPH JOHN: LIBREVILLE-GABON
32. AMB. LUTHER OGBOMODE AYO-KALATA (F): SIERRA LEONE
33. DANLADI YAKUBU NYAKU : KHARTOUM-SUDAN
34. BELLO DOGON-DAJI HALIRU: BANGKOK, THAILAND

The statement added that the Ministry of Foreign Affairs has already received agreement from the United Kingdom for the High Commissioner-designate, Ambassador Aminu Dalhatu.

Similarly, France has sent the agreement for Ambassador Ayo Oke.

It added that the Ministry has also conveyed the nominations of the other 62 designated envoys to all the countries concerned, including a request for their agreements in line with standard diplomatic practice.

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FG Launches N250 Billion Single-Digit Loan Scheme for Smallholder Farmers

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By Yusuf Danjuma Yunusa

The federal government has launched a N250 billion credit facility for smallholder farmers, channeled through the Bank of Agriculture (BOA) to provide much-needed access to credit at a single-digit interest rate. The initiative is designed to bolster agricultural productivity and enhance food security across the nation.

Minister of Agriculture and Food Security, Abubakar Kyari, disclosed this during the Quarterly Citizens and Stakeholders Engagement Session held on Friday in Abuja. He explained that a key priority for the ministry involves strengthening agricultural insurance and finance mechanisms by leveraging institutions such as the Nigerian Agricultural Insurance Corporation (NAIC), the National Agricultural Quarantine Service (NAQS), the Bank of Agriculture (BOA), and the National Agricultural Development Fund (NADF).

In the past two years, the Nigerian Agricultural Insurance Corporation has provided risk cover worth N700 billion to 199,275 farmers, generating N2.43 billion in premium income while paying out N200 million in claims to enhance farmers’ resilience. The newly announced credit facility aims to build on such efforts by supporting food production, improving mechanisation, and creating sustainable livelihoods.

The Minister emphasised that the ministry’s overarching mission is to accelerate growth in the agricultural sector by boosting productivity and creating economic opportunities. He described the stakeholder engagement session as a critical step toward ensuring transparency and incorporating public feedback into government programmes.

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Over the last two years, several initiatives have been implemented to strengthen the agricultural sector. These include the distribution of more than 1.9 million bags of fertilisers to nearly one million farmers, alongside 12,000 litres of organic fertilisers to promote sustainable soil management.

To combat the circulation of counterfeit fertilisers, the government has prosecuted offenders, constructed a National Reference Laboratory, and upgraded the National Fertiliser Management Platform to enhance quality control and transparency. Additionally, 109 fertiliser inspectors and over 329 industry stakeholders have received training on regulatory compliance.

International collaborations have also been established with Russia, Türkiye, India, and Canada to facilitate technology transfer and improve fertiliser production capacity. More than 3,500 farmers have been trained on organic fertilisers and soil management techniques to encourage sustainable agricultural practices.

The Agricultural Research Council of Nigeria (ARCN) has been driving transformative change through research and development, focusing on crop production and varietal improvement. The council has distributed 40 million cocoa seedlings aimed at revitalising the nation’s cocoa industry, supporting long-term plantation development and boosting export potential.

Meanwhile, the National Agricultural Development Fund (NADF) has recorded significant milestones over the past two years in advancing the agricultural sector.

Minister of Information and National Orientation, Mohammed Idris, described the engagement forum as a reflection of President Bola Tinubu’s governing philosophy rooted in transparency, participation, and accountability.

He stressed that governance must remain open and responsive to the people, adding that his ministry is committed to bridging the gap between policy decisions and public awareness. “Communication is not propaganda; it is accountability,” he said, noting that citizens should be well-informed and given the opportunity to provide feedback on government initiatives.

In his opening remarks, Permanent Secretary of the Ministry of Agriculture and Food Security, Marcus Ogunbiyi, underscored that transforming Nigeria’s agricultural and food systems is not merely an aspiration but an urgent national imperative.

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