Ibori wins FG's N40bn agric contract-Punch, Lagos
Sunday, 05 July 2009 09:00 By Jide Babalola

Former governor of Delta State, James Ibori's company, Notore Chemical Industries, is set to emerge the top beneficiary of the Federal Government's N200billion agricultural interventionist scheme, SUNDAY PUNCH findings have shown.

Our correspondents found that Notore has been strategically positioned to supply N40bn worth of fertiliser under the Commercial Agriculture Credit Scheme established jointly by the Central Bank of Nigeria and the Federal Ministry of Agriculture and Water Resources to boost President Umaru Yar'Adua's seven-point agenda.

[B]The assurance of participation of Ibori's company in the FG's scheme came as many firms hoping to also participate in the supply of fertilisers to the scheme complain of inability to meet the stringent conditions allegedly attached.[/B]


This, however, may have given rise to speculations that Notore was being positioned to reap bountifully from the scheme as a way for Yar'Adua to compensate the former governor for allegedly bankrolling his campaign in the 2007 presidential race.

Ibori was largely believed to have substantially supported the president's bid two years ago, a suspicion which many believe was behind the goodwill being enjoyed by him in the Yar'Adua's administration.
Many have equally accused the authorities of soft dealing with Ibori in his ongoing trial by the Economic and Financial Crimes Commission for corrupt practices.
Media aide to the minister of Agriculture and Water Resources, Olu Lipede, denied that Notore was being favoured under the scheme simply because the company belongs to Ibori, even as he submitted that the former governor had a right to win government contracts.

"Ibori is a Nigerian and he has every right to do business; why should anyone infer that it is Ibori that is pushing Notore to do the business.

"The Ministry (of Agriculture and Water Resources) is a part of the Federal Government of Nigeria and government cannot refuse to act because of one individual," Lipede stated.

Also, a spokesman for the former governor, Tony Eluemenor, said he was unaware that Ibori's clout was considered in awarding fertiliser supply contract to Notore, which was formerly known as National Fertiliser Company of Nigeria.
"I do not know about the link with Notore but I will ask him (Ibori). As the former NAFCON, Notore should be a big player in the fertilizer business and have its own clout.

"However, I do not want you to take these as my official reaction as I will give you a response by 3.00pm," Eluemenor told our correspondent on Friday.

The implementation of the CACS scheme is being steered by a Project Management Committee comprising representatives from the CBN, the National, Commercial Agriculture Development Programme, participating banks, Federal Ministry of Finance, the Large Scale Farmers Association and the Debt Management Office.

The Executive Director of NFRA, Dr. Salisu Ingawa, who spoke with SUNDAY PUNCH in his office on Friday evening asserted that from all indications, Notore would be one of the foremost private sector players in the CACS scheme's implementation, adding that the federal and state governments were to expend N20bn each to subsidize the N100bn national fertilizer procurement requirements for 2010.

Ingawa, however, admitted that there were some flaws already in the implementation of the scheme but assured that attention was being paid to correct the flaws.

"At the beginning, the modalities for disbursement were not right and it would have resulted in the money going into a few hands without due process of ensuring what they would do, but, now, that is being resolved," he said

For Ibori, the time has come to reap the fruits of the seeds he sowed in bankrolling Umaru's campaign in 2007.