For the first time, less than 10 percent of the world is living in extreme poverty, World Bank says

The World Bank provided some relief from bad news this week with some fresh, positive data: For the first time ever, it estimates that the number of people around the world living in extreme poverty will fall below 10 percent.

Using an updated international poverty line of USD $1.90 a day, the Bank estimated that global poverty has fallen from 12.8 percent of the world's population in 2012 to 9.6 percent of the global population in 2015. The new figures raise hopes that extreme poverty could be eliminated in the near future, the bank said.

“This is the best story in the world today — these projections show us that we are the first generation in human history that can end extreme poverty,’’ Jim Yong Kim, president of the World Bank, said in a statement.

The new figures are certainly remarkable when you consider that just 25 years ago more than a third of the world was living in extreme poverty, according to the Bank's figures. Despite the rising population all around the world, there are less than half the number of people living in extreme poverty in 2015 than there were in 1990.

Last week, the United Nations announced a plan to end extreme poverty by 2030, using the World Bank's previous measure of $1.25 a day. A prior U.N. plan to halve the number of those living in extreme poverty, set in 2000, is the only Millennium Development Goal that has been achieved so far, primarily because of economic growth in China.

The World Bank stresses that its new forecasts show that factors such as strong growth in developing countries and investments in people's education, health and social safety have had a big effect on global poverty rates.  “This new forecast of poverty falling into the single digits should give us new momentum and help us focus even more clearly on the most effective strategies to end extreme poverty," Kim said.

But the bank also noted that despite considerable improvement, poverty remained a serious problem in Sub-Saharan Africa and South Asia. The situation in those regions is a remarkable contrast to East Asia, where levels of extreme poverty are predicted to drop from more than 60 percent to 4.1 percent in 2015.

Additionally, the quality of the data remains a question for the World Bank — in the past, World Bank researchers have said that only 77 percent of the 155 countries that they study collect reliable data on poverty. The latest regional estimates for extreme poverty exclude the Middle East. A note explains that data is unavailable because of conflict and instability in a number of countries in the region.

Source: https://www.washingtonpost.com/

United States, Nigeria Sign $2.3 Billion Agreement to Reduce Poverty

Abuja, Nigeria – The United States of America, through the U.S. Agency for International Development (USAID), and the Federal Republic of Nigeria signed a developmental assistance agreement covering the next five years.  Nigerian Vice President Yemi Osinbajo and USAID/Nigeria Director Michael T. Harvey signed the agreement during a ceremony on September 29 at Aso Rock Villa.  U.S. Embassy Acting Deputy Chief of Mission Shawn E. Flatt was also present. 

The $2.3 billion agreement comes on the heels of President Muhammadu Buhari’s July visit to Washington, D.C.  The agreement covers activities from 2015 through 2020 and aims to help Nigeria reduce extreme poverty in a more stable, democratic society.  Activities will stimulate inclusive economic growth, promote a healthier, more-educated population, and strengthen good governance. 

“This agreement will provide a solid foundation for our two countries to partner together to reduce inequalities across the country,” said Mr. Harvey.  “I commend the Vice President and National Planning Commission for their leadership and support of the activities under this agreement,” he added. 

In an effort to align Nigeria’s development plans with sector-specific strategies, USAID collaborated with the Nigerian National Planning Commission; the Nigerian ministries of health, agriculture, power, and education; and state-level government counterparts to structure the agreement. 

Source: http://nigeria.usembassy.gov/

BoI, NYSC Launch N2bn Graduate Entrepreneurship Funds

In providing a solution to graduate unemployment in the country, Bank of Industry (BoI) and National Youth Service Corps (NYSC) have launched the N2 billion Graduate Entrepreneurship Fund (GEF).

Speaking at the launching of the fund in Lagos, yesterday, the managing director of BoI, Mr. Rasheed Olaoluwa said, job creation in Nigeria has not kept pace with the growth in the working age population.

According to him, the National Bureau of Statistics (NBS) has reported each year, about 1.8 million young Nigerians enter the already saturated labour market, adding that over 50 per cent of youths in Nigeria are unemployed.

Olaoluwa said that the NYSC Directorate has put in efforts in promoting an entrepreneurial mindset among NYSC members through its Skills Acquisition and Entrepreneurship Development (SAED) initiative.

He noted that in tackling unemployment among youth, innovative approach is required, saying, “The strategy is to identify the innate talents of the young graduates as soon as they leave school, build their capacities for self-reliance, and also empower them to establish their own businesses, thereby creating jobs not just for themselves, but also for other youths that they may employ.”

Highlighting the component of the Fund, Olaoluwa said, there will be selection and screening of 1,000 NYSC members that will participate in the capacity building process through an online business idea competition which will enable them to develop their own bankable business plans, which will form the basis for loan consideration, saying “Medium to long-term loans at single digit interest rates will be provided.”

He added that the capacity building component of the programme will be implemented in partnership with the NYSC Directorate and shall be facilitated by the NYSC SAED Department and nine BOI partner Entrepreneurship Development Centres/Training Consultants which will be undertaken in the six geopolitical zones of the country and Lagos State.

He stated that ‎the total amount available for lending under GEF is N2 billion, adding that each beneficiary of GEF can access a minimum loan of N500,000 and a maximum of N2 million for the procurement of machinery and equipment as well as for working capital, at a single digit interest rate of nine per cent, with a loan tenor of three to five years inclusive of six months moratorium.

By Olushola Bello of http://www.leadership.ng/

FG To Empower 30,000 Youths In Agriculture

As part of its commitment to promote decent income generation and livelihood for Nigerian Youth, the Federal Ministry of Agriculture and Rural Development, has commenced the process of empowering about 30,000 youths based on priority value chains, through the Youth Empowerment in Agricultural Programme (YEAP).

The Permanent Secretary of the Ministry, Architect Sunny Echono, disclosed this in a statement made available to newsmen in Abuja, during a meeting with stakeholders in the Poultry Industry in Abuja.

Echono stated that the ministry received about 34,000 applications from intending Nagropreneurs and Market Oriented Producers from 12 participating states, including the FCT.

He said a total of 250 Nagropreneurs would be selected per state including FCT under the first phase of the project.

“ Validation and final selection of the young Nagropreneurs and Market Oriented producers would be done at state levels in collaboration with the ministry’s state directors, while training would be conducted for the beneficiaries at different credible Agricultural and Research Institutions, Universities and other Vocational training centers across Nigeria”, he stated.

The participating states are, Akwa Ibom, Bauchi, Gombe, Imo, Kaduna, Oyo, Abia, Katsina, Lagos, Niger, and Ogun.

Source: http://dailytimes.com.ng/fg-empower-30000-youths-agriculture/

Stakeholders broker peace for execution of $1.4 bn Delfarm-Songhai Farms in Anambra

The stage is set for the execution of the Delfarm-Anambra-Songhai Farms Project at Igbairiam, Anambra East Local Government Area.
The project, estimated to cost one billion, four hundred million dollars ($1.4 bn), will see the Igbariam  community, the land owners, getting  an equity share of five percent of the total cost of investment.
The agreement for the commencement of the project on a 398 hectares of land was reached after the meeting of the representatives of the state government representatives, Delfarm Farms Limited, Songhai and leaders of the community at the palace of the traditional ruler, Igwe Nkelly N. Kelly, on September 22, 2015.

The multi-party project was a follow-up to the Memorandum of Understanding (MOU) signed few months ago by Delfarm, headed by Professor Emmanuel Egbogah, Anambra State Government and Rev. Dr. Godfrey Nzamuzo-led Songhai Projects Limited.
In his speech, the commissioner for land, Hon. Afam Mbanefo, pointed out that the project, when completed, will generate thousands of jobs, calling on the youths to cooperate with the investors.
He enjoined the citizens to take advantage of the educational opportunities at the College of Agriculture, Mgbakwu, to be qualified for appointment in the Delfarm - Soghai projects.
Earlier in his address, the Managing Director/Chief Executive of Anambra State Investment Promotion and Protection Agency (ANSIPPA), Chief Joe-Billy Ekwunife, disclosed that apart from Delfarm-Anambra-Songhai Project investment valued at $1.4 billion, an agreement has been signed by the state government with Lynden Farms Limited for mechanised poultry estimated to cost $150 million.
Ekwunife stated that the Obiano-led administration will ensure that 75 percent of jobs go to qualified persons of Anambra State origin, urging the youths to cooperate with the contractors.

Mr. Thierry Andre, Songhai Nigeria Coordinator,  said Delfam comprised of three components, namely, Technological Park, Industrial Park (for production) and Service Park to provide residential as well as other human activities. 
He said that Songhai, apart from facilitating production of oil bean, orange juice, pineapple juice, fish, broiler, and egg, among others, it also equips people with skills.
Mr. Pius Ekwulugo, the MD/CEO of Delfarm Projects Limited, thanked the traditional ruler for ensuring peace, assuring that the investors will keep to the terms of the agreement.
He added that Delfarm Songhai would expand its project to other states.
Earlier, the traditional ruler of Igbariam, Igwe Kelly, urged the investors to implement the project according to the agreed terms.

The President-General of Igbariam Progress Union (IPU), Mr. Jude Ikechukwu Orizu, and representatives of  Onosoleze, Ndichie, Ndi Ojiani, Iru na Abo, and youths appreciated government’s interest to develop the area, pledging unalloyed support.

http://www.dailytrust.com.ng/

Tanzanian Farmer Gets Climate-Smart

Natharine UgulumoClement Mshana practices using ripping technology on his farm.

When asked, most farmers in rural Tanzania will readily cite climate change as a leading factor in the low yields that leave them without enough income or food to feed their families. Agriculture’s success is highly dependent on specific climatic conditions. Temperatures that are too high, frequent droughts and erratic rainfall and flooding all pose serious threats to food production.

Clement Mshana knows all this firsthand. He began farming over ten years ago, and increasingly unreliable rainfall was taking its toll on his yields. He didn’t realize that his traditional farming methods were depleting his soil and exacerbating the effects of erratic rainfall.

To prepare his land every year, Mshana would use a disc plow—a popular, easy-to-use tool that quickly breaks down the surface of the soil. Disc plows, however, can leave soil vulnerable to wind erosion during times of low rainfall; in the 1930s, their use was even a contributing factor to the U.S. Dust Bowl.

Mshana’s use of the plow year after year made the topsoil of his land increasingly less fertile and ultimately impenetrable by water or roots. Nutrients were less available to his crop because of runoff and soil erosion.

All of that changed in 2013. That’s when the NAFAKA Staples Value Chain Activity, a USAID program under the Feed the Future initiative, brought climate-smart farming practices to more than 11 thousand smallholder Tanzanian farmers whose food security was threatened by insufficient rains and low yields.

The program introduced Mshana and other farmers to techniques like deep tillage, which are specifically designed to mitigate environmental degradation and increase farmer resilience to changing climate patterns. Deep tillage preserves topsoil, breaking through deeper layers in the soil from previous plowings. This significantly reduces erosion and allows soil to retain scarce water resources. As water retention increases, land becomes more fertile and crop roots grow deeper into the soil to absorb the nutrients that transform seeds into bountiful harvests.

One way to achieve deep tillage is to use rippers, plow attachments that dig deep under the soil. In Tanzania, the Feed the Future program that assisted Mshana also helped build a network of local ripping service providers. After training farmers to understand the benefits of deep tillage, Feed the Future connected them to service providers who can help sustain this climate-smart practice over the long term.

Since then, thanks to targeted information campaigns, demand has grown steadily for ripping services in Kongwa and Kiteto, the program’s two focus districts. Feed the Future also promotes low-tech deep tillage solutions such as the spring jembe, a specialized hoe that can be locally manufactured at the village level.

By switching from his disc plow to ripping, Mshana has seen a marked difference in yields. This past year, he produced 18 bags of maize on an acre of land compared to the five bags he averaged in previous years. “Many farmers like me in dry areas of Kongwa will harvest something as a result, despite poor rains,” he says.

Nafaka means grain in Swahili. The NAFAKA Staples Value Chain Activity is a USAID program under the Feed the Future initiative that aims to improve smallholder farmer productivity and profitability within the rice and maize value chains.

Credit: http://feedthefuture.gov/

Nigeria: MasterCard Foundation Partners Agra On Agric Financing

The Alliance for a Green Revolution in Africa (AGRA) has commended the MasterCard Foundation's pronouncement of investing $47 million in agricultural finance projects across Africa, including $15 million for a partnership with AGRA that will deliver financial support to 730,000 farming households.

AGRA's President Dr. Agnes Kalibata while speaking Thursday in Lusaka, Zambia at the MasterCard Foundation Award Ceremony, said the initiative is well-aligned with AGRA's goal of ensuring smallholder farmers have access to finance and information to buy farm inputs, invest in post-harvest technologies, and pay for storage facilities for their crops.

Dr. Agnes Kalibata added that "by focusing on improving financial inclusion, the Foundation is definitely addressing one of the weakest links in African agricultural systems."

AGRA boss said Africa cannot develop with its large population excluded financially, adding that what the continent needs is financial solutions tailored to the need of the farmers, "not that African farmers cannot produce but they lack the financial means."

Dr. Kalibata said AGRA working through financial service providers, mobile network operators, agro-dealers, aggregators, warehouse operators, and famer-based organizations, the project will contribute to improving the profitability of farming enterprises , thereby, reducing poverty in targeted countries.

She called on financial institutions to understand some challenges in the African society while trying to encourage financial solutions to agriculture, "in our culture we were all brought up to be self reliant... to the extent that borrowing can feel almost like a crime," she said.

"In the real world, people borrow money, but that is not the culture in Africa. And financial institutions need to understand these challenges."

The President and CEO of the MasterCard Foundation, Reeta Roy, used the event to announce the initial winners of the first innovative competition under its $50 million fund for rural prosperity.

He disclosed that nine winning companies received a total of $6.9 million for their new approaches in providing financial products and services to poor people and marginalized population.

Reeta Roy said "These new made-in-Africa solutions have a good chance of giving poor people in rural areas the financial access they need. It was exciting to see so many companies responding to our call for proposals, thinking outside-the-box to figure out low-cost ways to deliver savings, credit and insurance to this population."

The projects include an effort by Banque Atlantique of Côte d'Ivoire to develop a voice-activated app that will enable illiterate farmers to conduct financial transactions, and a venture by Smart Money in Uganda to encourage smallholder farmers to move from cash to digital financial transactions.

The Foundation also launched a new US $25 million partnership with the development NGO Mercy Corps to use information technology to bring financial services to one million smallholder farmers in Kenya, Tanzania, and Zambia.

The Foundation also unveiled a new $6.5 million alliance with Global Development Incubator and Dalberg Global Development Advisors to create a new Rural and Agricultural Finance Learning Lab.

Jason Wendle, director of the Learning Lab said the $6.5 million Learning Lab project will deepen understanding of the financial service needs of smallholder farmers and rural families.

He added that the key challenge today in Africa is create financial services for smallholder farmers that are "commercially sustainable but also pull smallholder farmers out of poverty."

Wendle said that "Just because you provide a loan to smallholder farmer" does not guarantee you will reduce poverty. "It's not a slam dunk," he said

Credit: Vanguard