Ireede-Oginni Grassroots Foundation Tasks Tinubu To Tackle Economic Hardship Before 2nd Year In Office - EDU-BIZNEWS


Wednesday, May 29, 2024

Ireede-Oginni Grassroots Foundation Tasks Tinubu To Tackle Economic Hardship Before 2nd Year In Office

A Non-Governmental Organization Ireede-Oginni Grassroots Foundation has tasked President Bola Ahmed Tinubu to tackle and end the economic hardship being experienced by Nigerians in the past one year before second year of his administration, by ensuring proper utilization of various Intervention funds for the manufacturing sector including the N200billion for 75 enterprises and others micro and small businesses, so as  to boost local production and address high prices of finished goods in the country

Founder of the foundation, Chief (Hon) Funmilayo Ireede-Oginni who made the call in a statement made on Wednesday, marking one year of Tinubu's administration in the country of  which a copy was made available to Edu-Biznews , also stressed the need for proper monitoring of estimated N309billion claimed to have been injected into the Nigerian economy through harvest in the last one year as stated by the Minister of Agriculture and Food Security, Abubakar Kyari, during his recent news briefing

The foundation in the statement strongly believed that proper monitoring and utilization of fund in both manufacturing and agriculture sectors would have significant impact on the disturbing inflation rate and volatile exchange rate of naira to dollar caused by inadequate local production and over reliance on imported products, particularly foods 

The founder of Future Promise Group of Schools Abeokuta and Chief Executive Officer of emerging conglomerate Terra Integrated Services however commended the Tinubu's administration for the injection of N75billion to support 75 enterprises in their local production  with each of them getting a billion naira credit facility at 9% interest rate per annum as well as N125billion earmarked for operators of Micro, Small and Medium Enterprises (MSMEs) including N50billion for 1,300 nano business owners with each of them getting N50,000 in the 774 Local Government Areas across the country

In the Agric sector, the foundation was impressed with massive injection of over N300billion being made to address 
food and nutrition security, with the  launching of dry season farming and cultivation of 118, 657 hectares of wheat in 15 states in an acceleration of all-year-round farming

The foundation also laude the procurement and distribution of  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

Equally the distribution of 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.

Ireede-Oginni expressed confidence that proper implementation of these laudable would definitely crash prices of foods in local markets for more Nigerian families to have food on their tables 

The foundation reassured the less priviledged Nigerians particularly children in schools and women of continuous support to make life more meaningful for them 

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