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Food Security: Govt injects ₦309bn into Agric in 1yr, says Minister

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Minister of Agriculture and Food Security, Abubakar Kyari

The Minister of Agriculture and Food Security, Abubakar Kyari, has said that an estimated ₦309bn was injected into the Nigerian economy through harvest in the last year, as a way of ensuring food security by President Bola Tinubu’s administration.

The minister announced while giving an update on the achievements of the ministry at the ongoing 3rd ministerial sectoral update, as part of activities marking the first anniversary of the president.

kyari revealed that as part of efforts to address food and nutrition security, the government has launched dry season farming with cultivation of 118, 657 hectares of wheat in 15 states in an acceleration of all-year-round farming, procured and distributed to all states and the FCT 58,500 metric tones of milled rice to dampen escalating prices, and fortified crops with vitamin A micronutrient to enrich nutrition content and health value of commodities.

In response to persistent food inflation, the minister explained that the government has also taken measures to distribute 60, 432 metric tones of improved seeds, 887,255 metric tones of seedlings and 62, 328 metric tones of inorganic fertilisers and equipment to farmers across different value chains to enhance production.

He further mentioned the improvement of farmland security with the provision of additional resources to agro rangers and other security agencies.

Senator kyari also highlighted the efforts of the government in response to livestock production and animal health, control of pests and diseases, strengthening mechanisation, and agricultural research activities amongst others

He noted that the government has intensified efforts on the production and processing of soybean, sesame, ginger and hibiscus for export.

President Tinubu assumed office on the 29th of May, 2003.

Credit: channelstv.com

Children’s Day: Tinubu says no effort will be spared in securing Nigeria’s future

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President Tinubu carrying a child

President Bola Tinubu has said that his administration is sparing no effort in ensuring that Nigeria’s children have a solid footing for the realization of their dreams.

Tinubu made the declaration in a statement released by his media aide, Ajuri Ngelale, in commemoration of this year’s Children’s Day celebration.

“President Bola Tinubu celebrates Nigeria’s children, the bearers of the nation’s torch into the future, on the special occasion of Children’s Day.

“The President rejoices with parents, guardians, and families across the nation, and calls for a reinforcement of the family unit as a place where the sacred values of honesty, modesty, hard work and charity are passed down to the shining lights of tomorrow,” the statement said.

It added that while Tinubu affirms that society is a reflection of each family unit as a collective, he urged the preservation of those principles that make us a wholesome, nurturing, and thriving nation.

“With increased investments in education, and the recent overhauling of the entire education system to provide both human and material resources for learning, as well as the efforts of the National Commission for Almajiri and Out-of-School Children Education to get the nation’s precious gifts off the streets, the President emphasizes that his administration will continue to expand access to qualitative education for all Nigerians.”

Tinubu reassured the nation of his commitment to ensuring a safe and secure ambience of learning for the children while improving the standard of education.

Children’s Day is commemorated in Nigeria on 27th May of every year.

Credit: channelstv.com

Women Challenged to Be Innovative

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WISTA @ 50

The Chief Director at the Ministry of Transport Mabel Sagoe has challenged women to be innovative to address hurdles confronting them in their entrepreneurial journey.

According to her, it is important for women to build capacities to face the challenges like limited access to finance and markets as well as entrenched cultural barriers.

She was speaking at an event organised by the WISTA Ghana in collaboration with USAID, as part of the International Day for women in maritime.

“Capacity building, mentorship and networking opportunities tailored to the needs of women led SMEs will be critical in equipping women with the necessary skills, knowledge and support they need to succeed” she said.

She stressed the need for women entrepreneurs to be empowered to drive sustainable economic growth, create jobs and build more resilient inclusive society.

The event served as a platform for women entrepreneurs to network, acquire knowledge on business growth strategies and inspire one another.

The Director of Port of Tema, Sandra Opoku who was the Guest of Honour urged women to challenge themselves and prove their worth in whatever task they are assigned.

“Do not limit yourself. What is your work ethic, what is your value and what are you bringing to the table? Don’t expect that doors will just open because you are a woman, you must prove your worth,” she advised.

The President of WISTA Ghana, Gertrude Ohene-Asienim (FICS) said women have consistently demonstrated their unwavering commitment to economic growth.

“We recognize the critical role that women play in enhancing safety measures, whether as seafarers navigating the seas, maritime professionals implementing safety protocols, traders risking their lives or as leaders shaping policies, women have consistently demonstrated their unwavering commitment to economic growth,” she said.

The event was used celebrate the 50years anniversary of WISTA International and recognise women who have been outstanding in the maritime industry.

 

Burkina, Mali and Niger Reaffirm Faith in Ghanaian Port

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Representatives of the Sahelian Shippers’ Councils with the Director of Ports, Tema

In a significant show of confidence, economic operators from Burkina Faso, Mali, and Niger have reaffirmed their loyalty to Ghana’s ports, despite a fiercely competitive transit market in West Africa.

This commitment was reinforced during a recent courtesy visit by the Shippers’ Councils of Mali, Burkina Faso and Niger to the Ghana Ports and Harbours Authority (GPHA) in Tema.

The delegation was briefed by the Director of Port of Tema, Sandra Opoku and other management members on the GPHA’s initiatives to enhance and expand transit business through Ghana’s ports.

 “Our transit customers have been an important part of our trade for a long time, and we always want to open our doors to them to ensure that they get the best of facilities that we can offer,”the Director of Port emphasized.

The delegation paid a visit to the modern GPHA Unity Terminal which is being considered to serve transit operations in Ghana.

This visit underscores Ghana’s strategic position as a hub for transit trade in West Africa.

The Director General of the Nigerien Council of Public Transport Users, Colonel Ibrahim Souley, speaking on their behalf, was hopeful for the positive outcomes that the GPHA Unity Terminal may present to the transit trade.

“Our mission is targeted at prospecting the possibilities of establishing a stronger relationship with the Port of Tema and seizing opportunities for our economic operators.

The presentation done by GPHA showed the various opportunities as well as facilities available to effectively handle transit cargo for landlocked countries which are Burkina Faso, Mali and Niger,” he said.

He added that evidently, the Port of Tema is putting in efforts to provide excellent transit business “and we are particularly impressed.”

Duties are Charged in Cedis – GRA Sets Record Straight

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GRA

The Ghana Revenue Authority (GRA) has announced that duties and taxes imposed on imported vehicles are always done in Cedis and not dollars or any other foreign currency, contrary to speculations circulating in some media setups.

In an official statement signed by the Communication and Public Affairs directorate urging the public to disregard such claims, GRA outlined the process for calculating duties and taxes on imported vehicles.

According to the GRA, the calculation of import duties on the vehicles begins with determining the Cost, Insurance and Freight (CIF) values from the country of origin.

These are quoted in international convertible currencies such as dollars, euros, pounds sterling and among others. Once the CIF value is established, it is converted into Ghana Cedis at the current exchange rate provided by the Bank of Ghana Exchange Rate.

According to management of GRA, duties and taxes imposed by the Customs Division are strictly in accordance with the Customs Act 2015 (Act 891). They assured the public that GRA is dedicated to their mandate of mobilizing revenue with integrity, fairness and transparency.

GRA urged importers with concerns about the calculation of the customs duties and taxes to reach out for assistance through various communication channels of the Authority. This includes email address info@gra.gov.gh, whatsapp on 0552990000 and 0200631664, toll free call number 0800900110.

We have enough reserves to manage forex volatilities- BoG

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JENNIFER AMBOLLEY
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Dr. Ernest Addison, Governor of Bank of Ghana

The Bank of Ghana (BoG) has assured the business community that it has sufficient reserves to manage the Cedi-Dollar volatilities.

The Governor of the Bank of Ghana, Dr. Ernest Addison, who doubles as the Chairman of the Monetary Policy Committee (MPC) made this known at a press briefing in Accra yesterday, May 27, 2024.

According to Dr. Addison, “despite these pressures on the foreign exchange rate, the Bank of Ghana, however, has adequate reserves to manage these shocks to the foreign exchange market, having added over US$600.0 million to the current foreign exchange reserve levels over the first five months of the year.”

Dr. Addison also added that the improved reserves position is also backed by strong liquid monetary gold levels of over 26.6 tonnes (estimated at US$2.1 billion) as a result of the very successful domestic gold purchase programme.

Impact of Global Economic Trends

Dr. Addison continued that the global economic activity remains strong, particularly in large economies, even as monetary policies remain tight.

However, escalating geopolitical tensions have led to rising oil prices, stalling progress towards achieving global inflation targets. Emerging markets and developing economies, including Ghana, face additional challenges due to the strengthening of the US dollar and the tight monetary policy stance of the U.S. Federal Reserve.

He explained that these developments have created headwinds for the disinflation process, prompting central banks worldwide to maintain a cautious stance on loosening monetary policies. In the outlook, however, central banks are expected to begin easing policies once inflation shows a steady decline towards target levels.

Domestic Economic Indicators and Sector Performance

The BoG’s high-frequency real sector indicators reveal a steady improvement in the country’s economic activity. This is evidenced by continued growth in the Composite Index of Economic Activity (CIEA) and a firming up of the Purchasing Managers’ Index (PMI), driven by resilient consumer demand.

Conversely, real private sector credit remains weak, with business and consumer confidence softening due to concerns over high raw material costs and foreign exchange market pressures. Nonetheless, Ghana’s external sector position remains strong, although the current account surplus nearly halved in the first quarter of the year, reflecting a rebound in imports and net income payments.

Strategic Gold Purchases and Reserve Management

The Governor indicated that the domestic gold purchase program has been a key contributor to the reserve accumulation.

By the end of April 2024, the central bank’s reserves stood at 3.0 months of import cover, bolstered by strong liquid monetary gold levels of over 26.6 tonnes, estimated at US$2.1 billion.

“The improved reserves position is also backed by strong liquid monetary gold levels as a result of the very successful domestic gold purchase programme,” added Dr Addison.

“This strategy has significantly enhanced our reserve buffers, ensuring we can effectively manage exchange rate pressures.”

Foreign Exchange Market Challenges

The recent pressures on the exchange rate are attributed to a weakening current account surplus, driven by higher import demand and lower export revenue, particularly from a sharp fall in cocoa export earnings, according to the Governor.

Additionally, robust public spending on IPP arrears payments and capital expenditure outlays have further strained the foreign exchange market.

The BoG has observed increased pressures from importers diverting foreign exchange demand into informal markets, raising speculative demand.

To address these challenges, the BoG has implemented several measures to stabilize the market and improve market conduct.

Measures to Stabilise the Foreign Exchange Market

To mitigate high demand pressures, the BoG has taken steps to directly absorb foreign exchange needs of some corporate institutions, reducing pipeline demand from commercial banks. The central bank is also intensifying efforts to monitor and regulate the activities of foreign exchange bureaux, working closely with the Financial Intelligence Centre to sanitize the market.

“Foreign exchange bureaux must immediately desist from advertising rates outside their premises and on social media platforms,” warned Dr. Addison. “We have set up a task force to monitor compliance and ensure that the foreign exchange market operates within the regulatory framework.”

Fiscal Discipline and Economic Stability

On the fiscal front, the governor acknowledged that expenditures outpaced revenue growth in the first quarter of 2024 due to the frontloading of IPP arrears payments.

Maintaining strict fiscal discipline for the remainder of the year, he said, is crucial to bolster confidence in the economy.

“Maintaining fiscal discipline will be key to strengthening confidence in our economy,” emphasized Dr. Addison. “We need to ensure that recent currency depreciation does not become embedded into business pricing behaviors and inflation expectations.”

Inflation Forecast and Monetary Policy

The central bank’s latest forecast shows a slightly elevated inflation profile due to recent exchange rate pressures and adjustments in transportation fares.

However, projections indicate that inflation will remain within the monetary policy consultation clause of 13-17 percent by the end of the year, contingent on sustaining the tight monetary policy stance.

“The Committee decided to maintain the Monetary Policy Rate at 29.0 percent, reflecting our commitment to managing current economic challenges effectively” concluded Dr. Addison.

“Our strong reserve position and strategic interventions are pivotal in ensuring the stability of the cedi and fostering a resilient economic environment for Ghana.”

Warring chiefs in W/R smoke peace pipe?

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KWESI ALFRED ADAMS
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AwulaeAmihereKpanyile (left), Acting President and Angamatuo Gyan, Acting vice president in a meeting with the GNPC delegation

There appears to be peace at the Western Regional House of Chiefs (WRHC) after warring parties decided to smoke the peace pipe.
After three and half years of litigation, the House can now boast of an acting president and vice to steer the affairs of the House until November this year where a fresh election would be held.

Awulae AmihereK panyile III, Omanhene of Eastern Nzema is now the acting president whilst AwulaeAngamatuo Gyan II, Omanhene of Gwira is the acting Vice president.
Nana Kwesi Agyemang, Omanhene of Lower Dixcove, Obrempong Hima Dekyi, Omanhene of Upper Dixcove and TetretehOkumoahSekyim, Omanhene of Wassa Akropong, together with the acting president and the Vice are representing the House at the National House of Chiefs (NHC).

Information available to The Chronicle indicates that this agreement was reached amongst the chiefs, exactly a month ago at the meeting of the House.
In attendance at the said meeting was the Regional Minister, Kwabena Okyere Darko-Mensah,the Chief Director, Fred Agyemang and the Regional Registrar of the House.

Information available to The Chronicle indicates that the said meeting was called by one of the warring factions.
At the meeting, the faction argued why it was important for the House to put an end to the dispute that has plagued the House and chart a way forward.

For this reason, they presented Awulae Amihere Kpanyile from their camp to be the acting president of the House.
Agreed amongst the parties, the other camp also presented Awulae Angamatuo Gyan as acting vice president.

Nana Kwesi Agyemang, Omanhene of Lower Dixcove, who confirmed the story in a telephone interview, said his camp called for the meeting and made the proposals.
The meeting, he said, was attended by all the nine paramount chiefs and everyone agreed that Amihere Kpanyile act as president from their camp, whilst Angamatuo Gyan on the other hand act as Vice from the other camp.

Just last Thursday, a delegation from the Ghana National Petroleum Corporation (GNPC), led by its Chief Executive, Joseph Dadzie, was received by Amihere Kpanyile and Angamatuo Gyan as acting president and Vice of the House respectively.

It would be recalled that for three and half years, the House has been plagued by disagreement over the disputed October 2020 election to elect president, Vice and five others to the National House of Chiefs.

Amihere Kpanyile, who felt cheated in the said election, leading to his disqualification initiated a series of court actions against his disqualification.

On two occasions, a Sekondi High Court set aside the election of the president for a fresh election.
Latest amongst the ruling was also a recent one where a Sekondi High Court presided over by Justice Dr. Richmond Osei Hwere nullified the disputed 2020 election of the president and vice because there was no quorum for the organisation of the election.

The court ordered for a fresh election to be held.
However, with the agreement reached among the warring chiefs, everything points to the fact that they have given peace a chance.

Nana Kwesi Agyemang confirmed to this reporter that, with the agreement reached, the parties have agreed for the leadership of the House to be in acting positions, until November 2024 where there would be fresh election.

US actor shot dead during attempted car theft

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NANA KWESI COOMSON
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American actor Johnny Wactor

American actor Johnny Wactor has been shot dead in Los Angeles by a thief who was trying to steal a part from his car.

The 37-year-old suffered fatal injuries after interrupting three men who were attempting to remove the catalytic converter from his parked vehicle.

Wactor – who previously featured in the US soap opera General Hospital – was pronounced dead early on Saturday.

Wactor’s mother Scarlett told NBC4 her son was returning to his car after work and discovered a man tampering with it.

Believing it was being towed and not suspecting danger, he approached the man to ask what was happening, then was immediately shot, she said.

She told the outlet the suspect fled with two other men, and described her son’s killing as “senseless”.

Catalytic converters are valuable targets for thieves as they contain precious metals which can be sold.

The incident happened at the corner of West Pico Boulevard and South Hope Street in downtown LA. No arrests have been made.

A tribute shared by producers at General Hospital said South Carolina-born Wactor was “truly one of a kind and a pleasure to work with each and every day”.

As well as a two-year stint on the show, Wactor also starred in the 2013 NBC series Siberia and featured in two episodes of HBO’s Westworld.

Credit: bbc.com

Lil Win speaks after gruesome accident

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NANA KWESI COOMSON
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Lil Win

Kumawood actor Lil Win is thankful to God he survived a gruesome car accident on Saturday en route to the premiere of A Country Called Ghana in Kumasi.

The actor made his first speech addressing the accident at the movie premier hours after the accident had occurred.

Lil Win was seen with a white bandage covering his forehead where he had gotten hurt.

Addressing the crowd, he noted that he had been advised to stay indoors.

However, he could not ignore the efforts of the individuals including local chiefs who made it to the event and thus made his way to the event when he felt better.

Lil Win stated that it was only because of the grace of God that he could survive the crash.

Lilwin and others sustained injuries in a head-on car crash hours before the premiere of his movie ‘A Country Called Ghana’.

The accident occurred on Saturday morning at Amakom, a suburb of Kumasi in the Ashanti region.

According to eyewitnesses, the actor was driving at top speed from the Amakom intersection to the WAEC area when he suddenly veered into the adjacent lane.

Eyewitnesses told JoyNews that the vehicle crashed head-on into a private family car carrying a father and his four-year-old child, leaving the child unresponsive from severe head injuries. Lilwin and his two passengers also sustained head injuries. The impact of the collision left the two cars damaged.

A third victim says her car lights were smashed by the speeding vehicle. Credit: myjoyonline.com

We don’t deal with spiritual matters -FDA on Hajia Bintu’s Kayamata advert

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NANA KWESI COOMSON
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Hajia Bintu

The Food and Drugs Authority (FDA) has clarified its stance on regulating products that make spiritual claims, following public inquiries regarding ‘kayamata,’ a product marketed for its alleged ability to charm men.

This clarification came after social media influencer Hajia Bintu advertised kayamata, prompting concerned citizens to question the FDA’s regulatory responsibilities for such products. In an official response on their X account, the FDA stated, “Per the law, the FDA is not mandated to oversee products that make spiritual claims.”

This comes after Fella Makafui has allegedly arrested on Wednesday, May 22,2024 for engaging in unlawful activities related to the sale of unregistered drugs. Her crime also includes false advertising, and the dissemination of unapproved adverts by the Food and Drugs Authority (FDA).

Following her arrest, 16 different products including Fertility Tea (Fibroid And Womb Tea), Butt And Hips Enlargement Syrup, Butt And Hip Enlargement Oil, Booty Cream, Booty Scrub, Hip And Big Butt Tea, Breast Firming And Enlargement Cream were confiscated.

‘Kayamata’ refers to a variety of products that are often promoted with promises of enhancing personal relationships, attracting partners, or boosting one’s allure through purported spiritual means.

These products have gained considerable attention and popularity on social media, raising public concerns about their safety and effectiveness.

The FDA’s clarification highlights that their regulatory scope does not extend to products making spiritual claims, thereby leaving such products outside their jurisdiction.

Credit: pulse.com.gh

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