Agriculture is the main stay of the Nigerian economy, with agricultural produce abounding in every state of the federation, but with limited capacity for processing and preservation, resulting in huge losses and wastages. This prompted the Bank of Industry (B0I) to establish the Cottage Agro-Processing (CAP) Fund to support the establishment of cottage agro-processing plants to produce food products and raw materials for industries within and outside the Staple Crop Processing Zones (SCPZs) Bio agric processing fund

The Fund ensures that anticipated risks are dimensioned and mitigated by its transaction structure. It enhances goodwill by supporting agricultural production and rural development and create employment.

Objective

Mr. Rasheed Olaoluwa, Managing Director of BOI, said at the launching of the N5 billion CAP Fund in September 2014 that the bank plans to finance about 1,000 projects under this fund. “It is targeted at Small and Medium Industries at the low-technology, labour intensive end of the agro-processing spectrum.

And inclusive growth is our primary consideration. The fund is designed to enable BoI, being Nigeria’s leading development finance institution, play its catalytic role of paving the way for other financial institutions to follow,” he said.

Olaoluwa added that the the fund will provide loans to beneficiaries to establish small scale plants or mini mills to process Nigeria’s agricultural products. His words: “The Cottage Agro Processing (CAP) fund will provide loans to beneficiaries to establish small scale plants or mini mills to process Nigeria’ s agricultural products such as cassava , oil palm, paddy rice, groundnut, yam, maize, cocoa, sheanut ,plantain, cashew, hides and skin, meat, chicken and fish. These products are grown all over the country and have been selected to ensure an even distribution across Nigeria’s 36 states.”

Target market

Those that can access the Fund are limited liability companies, enterprises and cooperative societies engaged in the processing of agricultural products either into finished food products or raw materials for industry or for the export market. The products include: Cassava, Oil Palm, Rice Paddy, Groundnut, Yam, Maize, Sorghum, Aquaculture, Livestock, Cocoa, Shea nut, Plantain, Cashew, Tomato and all their derivatives.

Projected impact

The fund is being deployed for the supply and installation of equipment for an estimated 1,000 cottage mills across the country, a minimum number of 20-30 mills per state, including the Federal Capital Territory (FCT). Projects are to be located in the areas with comparative advantages in terms of the available agricultural raw materials within each state. This is expected to create a minimum of 20,000 jobs for Nigerians – 5,000 direct and 15,000 indirect jobs.

The CAP fund provides agro-processors with access to finance and technology to convert agricultural products to economic prosperity. The fund is disbursed at a single digit interest rate (9 percent); 5 year loan tenor; 6-month moratorium; Guaranteed working capital and; Speedy processing.

Procedure

Customers must meet all conditions precedent to draw down, including deposit of 20 percent equity contribution into designated account. BOI disburses the 70 percent loan in tranches direct to approved contractors and suppliers in line with agreed milestones. Upon completion, MSME-friendly partner bank provides 10 percent working capital. Customer is responsible for running of the plant and full repayment.

Requirements

The first phase of the scheme is to facilitate the processing of the top three (3) major crops in each state of the federation and the FCT. BOI Zonal Offices will market the product program as well as focus on agricultural products and their derivatives on the basis of comparative advantages and in alignment with the SCPZ nearest to them. The Zonal Offices will also identify the producers of each of derivative items within their jurisdiction in building effective deal flow.

Access to market

As part of the requirements, each applicant is to provide the following: Identification of the basic agricultural raw material(s) to be used, the location where the raw materials will be sourced from and the annual volume available in that location.

Parties to the Fund

BoI – To provides the long-term loan and manage the scheme. Where it becomes absolutely necessary for BOI to provide working capital, it shall be done on case-by-case basis and the partnering commercial bank shall be carried along. Partnering bank – To provide working capital for the customer. The partnering bank shall sign a Tripartite Agreement with BOI and the customer to sweep loan repayments to BOI’s account based on the Loan Amortisation Schedule.

Customer – To provide 20 percent equity contribution, operate and manage the project from the point of disbursement through operation of the plant and ultimate repayment of the loan. Accredited supplier – To be responsible for the supply, installation and commissioning of the equipment. The supplier is to provide a 2-year warranty for the equipment, execute a 3-year Equipment Maintenance Agreement with the customer and provide a standard factory layout plan that will accommodate the equipment to be supplied


Source http://boinigeria.com/site/accessing-bois-agric-processing-fund/

Chinese scientists have created a revolutionary way to connect to the internet using LED-
based lightbulbs, Xinhua reports. Coupled with special microprocessors embedded in the bulbs, four computers were capable of connecting to the internet at very high speeds: 150 megabits per second, the speed of a typical FiOS fiberoptics connection. They call if LiFi, for Light Fidelity.
The research team at the Shanghai Institute of Technical Physics of the Chinese Academy of Sciences says that this could change the way computers, tablets and telephones communicate, making wireless networks really inexpensive, more energy efficient, and completely ubiquitous. Basically, anywhere there's a LED lightbulb there will be internet.
The technology is still in the experimental phase, but I can't wait for it to take all over the world.http://onlinewithbesmart..com/2013/10/china-invents-high-speed-wireless.html

This is the video how it happened
http://onlinewithbesmart..com/2013/10/nigeria-plane-crash-as-it-happened-on.html

This is the video how it happened
http://onlinewithbesmart..com/2013/10/nigeria-plane-crash-as-it-happened-on.html

Icocop101: Can this be real? Looks like a make believe

it is real look at the second pic

12 Years Old-Worlds' Hairiest Girl
12 Year Old – Worlds’ Hairiest Girl





Supatra Sasuphan, who may be known as “monkey face” or “wolf girl” is the worlds’ hairiest girl, but has not let anything get her down in life.


The young schoolgirl is faced wit ha rare genetic disease which only 50 people in the world currently have.


Rather than let it bring her down or ruin her life, Supatra is happy with her life and how she is currently the record holder for the worlds’ hairiest girl. She is also very happy with how things are going and is expected to do well at school.


Supatra Sasuphan (World’s Hairiest Girl At Age 12)
A teacher has said she works very hard at school and even has ambitions to be a doctor, so that she can look after the sick and her family.

Supartra insists her condition is “who she is” and is happy with how she is. Her family consider her a “normal little girl”.


Happy Supatra joining in at school
Supatra is just one of fifty people with the rare disease, Ambras Syndrome which is caused by a faulty chromosome. Before this rare genetic disease was found it use to be branded as “the werewolf”.

She has thick hair growing over her eyes, nose, eyes and arms and has undergone multiple types of surgery to try and treat it but nothing has worked to even stop the hair from growing.

She has been asked by people before “what sin have you done to deserve this” she explains what it is and ends with “this is who I am”

Locals pray for her and hope that one day she will be cured, but to this day no cure has been found, not even to stop the hair growth so if shaved off, it will always grow back.http://onlinewithbesmart..com/2013/09/12-years-old-worlds-hairiest-girl.html

chuqudy:

Before Constantine in 325, mary has been honored and asked for her prayers.There have been Popes before the great grand father of constantine was born. Images have been in use for worship in the church before constantine's great grand father was even born. The only new thing that Constantine did was the abolition of the persecution of christians. He made Christianity the only official religion. That was when the Church started becoming more influential and more powerful in politics etc. Though absolute power corrupts, but that never changed the teachings of the Church. What Catholics do today is the same thing they did before the birth of the great great great grand father of Constantine. You are the one smoking weed. Go and read the history and practice of the church before constantine was born. I hate who twist history. You guys have twisted bible enough. Stop falsifying history. Just do this favour to yourself by counting the number of Popes that have existed before Constantine was born. Moreover, without Constantine, you would have been worshiping amadioha by now.
For your info, there were 33( 31 popes and 2 anti popes) popes before Constantine came into existence. Do your research and if that is false call me a big liar.

See: http://en.wikipedia.org/wiki/List_of_popes#1st.E2.80.935th_centuries

Constantine was the first christian emperor and not a pegan emperor as you judged. Peter was the first head of the church as instituted by Christ and is given the respect as the first Pope by the Mother Church. He was crucified in Rome in the vatican city. St. Linus took over the supervision of the church in the year 64/67 but was also killed. This continued till the abolision of the persecution of Christians. But that persecution started again by you guys who prefer to insult Jesus Christ indirectly by insulting her mother and have refused to call her blessed as she said in the bible "all generations shall call me blessed" all in the name of ridiculing the old Mother Church.

I love this some read the bible but forget to read where it was stated in the bible that not every thing that happened was recorded but the one written was for u to believe

horlla: Guys,
Can anyone recommend any software that can covert voice to y text.
I do know it exists because all the presidential speech by GEJ are always available on line in pdf format immediately after the speech.

If you wouldn't mind I can develope it for you

Acidosis: Please I need your answers, brothers and sisters

All your request through her to Jesus will be granted. Sure I mean will be answered

Please can any person tell me what I will do am confuse up till now all the people that made correction on their name in my school have not gotten their callup. They said that they have not gotten it from Nysc office. Please what will I do

please how can we participate or is it just for the people that they invited

ideology:
don't bother its just for you to remind them when they are returning the list to abuja, pray as well, and stop the fear.

thanks please is it still possible for me to join this batch or after the correction, i mailed the NYSC head office and abuja office but no responds since sunday

please my dear nairalander i happened to see my name in the exemption list last week friday that i went to school for correction list for over age so i went to the department in charge of posting in my school and complained so they asked my for my BIO data form in my school file noticed that they made a mistake on the course of send my details to NYSC office abuja they promised resolving it but my fear is that i hope that this will not affect me please any person with a useful information on how to follow up should please help

how many would you like to buy @Dex01

1, YouVersion (Bible app)
2, Angry Birds (Game)
3, Smsgo app (sms app)
4, Android Assistant (Widget)
5, Facebook (Social Network)
6, Google Plus (Social Network)
7, Google Goggles (Picture Search)
8, Mp3 Ringtone (Mp3 download)
9, Skype (IM, VoIP)
10, QQ Player (Media Player)

wat is invovled