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Osinbajo says FG to spend $200 million for creation of 780 agricultural service centres

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1637146503 Yemi Osinbajo

Vice President, Yemi Osinbajo has revealed that the Federal Government plans to allocate $200 million dollars for the creation of around 780 Agricultural Service Centres as catalysts for training and equipment sharing, under the Nigeria-Brazil bilateral development programme.

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The Vice President disclosed this at the 4th 2021 Nigerian Diaspora Investment Summit (NDIS21) held at the Congress Hall, the Presidential Villa, in Abuja, according to the News Agency of Nigeria.

He added that the FG launched a scheme called the Green Imperative Nigeria-Brazil Bilateral Development Programme to boost Nigeria’s agriculture productivity and to sustain the economy through the use of Brazilian technology for the development of agricultural mechanization.

What the Vice President is saying

Osinbajo who was represented by the Secretary to the Government of the Federation, Mr Boss Mustapha said, “The Green Imperative is part of the foreign agenda of both countries, thus representing a worthy cooperation initiative for a duration of 10 years with long term goals for food security, expanded job growth and, ultimately boost food production and household incomes in Nigeria.”

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“The project will have over two phases of implementation. The first phase will be the allocation of over $200 million dollars for the creation of around 780 Agricultural Service Centres as catalysts for training and equipment sharing.

“While the second phase will be technology transfer from Brazil to Nigeria via the commercialisation of agricultural equipment and inputs such as tractors, planters, seeders, fertilisers and pesticides.

“This programme will provide another veritable avenue for investments and engagement by the Diaspora for sustainable outcomes. Recovering the economy of the nation cannot be achieved by the government alone.

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“We need the partnership and deep involvement of the Diaspora and foreign investors, among others, investing in local businesses to boost and diversify the economy.” 

He told diaspora investors that the FG is committed to ensuring that their investments are not only secure but that they get a good rate of return on the investments they make while basking in the glow of being contributors to the growth of business and development of the nation.

In case you missed it

Nairametrics reported yesterday that Vice President Yemi Osinbajo stated that Nigeria’s projected real GDP growth from 2021 will make sure 10 million more Nigerians don’t fall into poverty and lift 25 million out of poverty at the diaspora summit.

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Source: NairaMetrics

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El Salvador Buys Additional 150 BTC as price Falls Below $50,000

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El Salvador Bitcoin

Many in the cryptocurrency community are now calling the President of El Salvador a Chief Executive Officer (CEO) as he has managed his country like a CEO would a company. He has now allocated his ‘company’s’ treasury into Bitcoin, as he aims to ‘Buy the dip’, anytime there is a price drawdown in the asset class.

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Today ‘CEO’ Nayib Bukele took to Twitter to announce that his ‘company’, El Salvador, just bought an additional 150 BTC, adding to the 100 BTC the Latin American nation bought when Bitcoin’s price fell below $60,000.

He stated, “El Salvador just bought the dip! 150 coins at an average USD price of ~$48,670 🥳 #Bitcoin 🎄” He further explained that he missed the bottom as Bitcoin traded as low as $42,874.62 according to coinmarketcap. He stated, “missed the f***ing bottom by 7 minutes.”

What you should know

This purchase puts El Salvador’s Bitcoin reserve at a total of 1,270 BTC, which is worth nearly $61.6 million at the time of writing. On the 26th of November, just 8 days ago, the President announced the purchase of 100 BTC.

The Salvadorean government game plan includes withdrawing unrealized BTC gains in U.S. dollars to fund various developmental projects while maintaining the overall value of the central reserve.

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President Nayib Bukele first announced that El Salvador would be making their first major BTC purchase on the eve of the country’s Bitcoin Law going into effect on Sept. 7, buying 200 BTC when the price was roughly $52,000. The nation has seen added 1,020 BTC, with the nation buying whenever there has been a major sell off in the price of Bitcoin.

Nayib Bukele has proposed several initiatives in the country around Bitcoin adoption and mining. The government has started construction of the infrastructure to support the state-issued Bitcoin wallet, Chivo, and recently unveiled plans to launch its own Bitcoin City at the base of a volcano, funded initially by $1 billion in Bitcoin bonds.

Conclusion

Since the adoption of Bitcoin as a legal tender, the Salvadoran government has been investing gains onto various infrastructure development projects. In mid-October, the President announced that the $4 million from the profits of their Bitcoin Trust will be used to construct a new veterinary hospital in the capital, San Salvador. Early November, Bukele announced that the surplus earned from the state’s Bitcoin Trust account will be used for constructing 20 new schools.

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However, Many Salvadorans have pushed back against the crypto initiatives, specifically protesting Bukele and Bitcoin. In September, residents marching through the capital city destroyed one of the Chivo kiosks and defaced the remains with anti-BTC logos and signs.

Source: NairaMetrics

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Superalgos is the go to hub for day traders – Luis Molina, CEO

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Luis Molina

The SA token is the native token of the Superalgos platform. It was recently launched on PancakeSwap, a decentralized exchange (DEX), under the ticker ‘SA’. The launch comes after four years of development with tens of thousands of downloads during the open beta phase as the community builds up liquidity pools for its native Superalgos token on the DEX.

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Molina says, “Our token is a community token and it represents how much you have contributed to the project. The difference between the SA token and other tokens is that others use their token to incentivize security for their respective networks while we don’t need security for our network because our token runs on someone else’s network. What we do is we use 100% of the incentivization power of each token to incentivize contribution to the platform. In the first four years, the contribution was in the form of codes to the codebase to create these tools. We are transitioning to allowing people contribute trading intelligence in the form of indicators, strategies and also signals. The platform will be set up where people will be running bots which produces signals for traders and putting them in the Superalgos network for everyone to benefit.”

Molina concluded by telling us more about the Superalgos application and how traders can benefit from the #1 platform on GitHub. He also gave hints about his top five cryptocurrencies. Click here to watch the full interview.

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Source: NairaMetrics

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