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Farmcrowdy has acquired Best Foods (L&P) to to grow its Livestock value chain with an improved process for livestock production. Announcing the acquisition in Lagos, the Founder & CEO of Farmcrowdy, Onyeka Akumah, said the acquisition of Best Foods L&P Limited is a major milestone for the entire team knowing as it offers a wider livestock production and processing solution to the meat market.
The acquisition will see Farmcrowdy owning majority stakes in Best Foods L&P Limited including its assets, team and customer contracts to supply meat across Nigeria… More details through: https://www.vanguardngr.com/2020/07/agtech-plans-to-launch-retail-meat-hubs-across-nigeria-in-q2/
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THE National Agricultural Seeds Council (NASC) says the North-East comprising Adamawa, Yobe, Borno, Gombe, Bauchi and Taraba are fertile states making them a big hub for cotton production.
Mr Idris Aliyu, the Director of Seed Industry Development, Technical Support and Commercial Services, NASC, said the North-East had always been fertile ground, and the culture of cotton production had been there since colonial times. The director, who spoke on the new hybrid cotton varieties BG 571 and BG 567, recently approved and introduced to farmers last December, said these varieties were high-yielding… More details through: https://www.vanguardngr.com/2020/07/north-east-is-big-hub-for-cotton-production-nasc/ The International Fund for Agricultural Development (IFAD) Nigeria Country Representative, Nadine Gbossa, has disclosed that a total of $329 million (N118.44 billion) has been budgeted for Value Chain Development Programme (VCDP) in Nigeria.
IFAD is an international financial institution and specialised agency of the United Nations that works to address poverty and hunger in rural areas of developing countries. The VCDP project is a partnership between the Federal Government of Nigeria, Olam Nigeria and IFAD. In the project, IFAD will contribute about $250m while Olam and the FG will contribute $79m. More details through: https://www.dailytrust.com.ng/ifad-olam-fg-commit-n118-44bn-to-smallholder-farmers.html Nigeria’s southeastern Cross River state is setting up a 4-billion naira ($10-million) cocoa-processing plant to start operations in August and target the export market, an official said.
Cross River, which accounts for about 30% of Nigeria’s output, has negotiated with chocolate companies based in Italy to receive supplies from the grinder, Peter Egba, the commissioner for industry, said in a phone interview from Calabar, the state capital. The factory will receive raw material from local growers as well as farmers in neighboring Cameroon, across the nearby border, Egba said. The government also plans to distribute 10 million seedlings of a cocoa variety that matures in three years to farmers to increase output… More details through: https://www.bloomberg.com/news/articles/2020-07-21/nigeria-targets-processed-cocoa-exports-with-10-million-plant Dangote Group’s fertilizer plant, now under construction in Nigeria’s biggest city of Lagos, will be ready to start production next year, according to Saipem SpA, the builders.
Owned by Aliko Dangote, Africa’s richest man, the facility located in the Lekki district of Nigeria’s commercial hub, has a name-plate capacity of 3 million tons a year of urea and ammonia, making it the world’s biggest. It is in the vicinity of a 650,000 barrels a day Dangote oil refinery also under construction. Test runs started at the plant in March, though hampered by the disruptions that came with the coronavirus pandemic, said Maurizio Coratella, chief operating officer of Saipem SpA… More details through: https://www.bloomberg.com/news/articles/2020-07-16/dangote-s-2-billion-fertilizer-plant-set-for-february-start An United States of America (USA) based Organic fertiliser company Biowish- Crop is planning to establish its African subsidiary in Kebbi State, Nigeria, Chief Marketing Officer, Nigeria, Mrs. Bill Stevens, confirmed this on Monday in Birnin Kebbi during a meeting with the All Farmers Association of Nigeria (AFAN), Kebbi State chapter and their members while introducing organic fertiliser to them, disclosed the company, on completion, would employ over 1,000 workers.
Stevens explained that the company was planning to establish the branch in South Africa, but were convinced to pick Kebbi State, as a better option, which they accepted. "We don't want to keep importing fertilisers from the USA into Nigeria… More details through: https://www.sunnewsonline.com/usa-fertilizer-firm-to-set-up-branch-in-kebbi/ Nigerian palm oil importers are to enjoy a 100 percent exemption on crude palm Oil (CPO) from Malaysian export duty from July till December 31, 2020.
The move is part of efforts to enable the buyers to ferry about 295,000 metric tonnes of the produce valued at N77.06billion ($171.24million) at a reduced price of $580.50 per metric tonne. Indonesia, the largest producer of the item, still sells its CPO at $657.73 per metric tonne. The Federal Government had banned the importation of the produce but ever since the prohibition, importers still bring palm oil into the country… More details through: https://www.newtelegraphng.com/palm-oil-malaysia-offers-nigeria-100-duty-exemption/ The Economic Growth Recovery Plan(EGRP) of the Federal Government may have got the desired boost as GBfoods, a culinary product manufacturing firm, in partnership with the Central Bank of Nigeria (CBN), Kebbi State Government and the Emirate of Yauri have built a $52.6 million (N20 billion) tomato processing factory in Kebbi State.
Commenting on the project, the CEO of GBfoods Africa, Mr. Vicenç Bosch, commended the Federal Government for encouraging and supporting GBfoods to engage with CBN, Ministries, Departments, and Agencies (MDAs) to ensure the successful completion of the factory. He also expressed his gratitude to the Federal Ministry of Industry Trade and Investments, Federal Ministry of Agriculture & Rural Development, Kebbi State Government, and the Ngaski Local Government Authorities for their tremendous support towards the actualisation of the project… More details through: https://www.sunnewsonline.com/cbn-gbfoods-others-complete-n20bn-tomato-factory/ The Director-General of the Nigeria Institute of Animal Science, Prof. Eustace Iyayi, has said the livestock industry in Nigeria could be valued at least N50 trillion over the next decade if all the right structures are put in place.
Making this revelation in a recent interview he granted in Abuja, Iyayi also said the industry is currently growing at an annual rate of 12.7 percent. Currently, according to him, the industry is worth at least N30 trillion. He cited the right structures to include proper infrastructure for value chain development, expansion and sustenance, financing, research and development for new breeds, and capacity development of operators… More details through: https://www.thisdaylive.com/index.php/2020/06/17/nigerias-livestock-industry-growing-12-7-annually/ The Federal Government's effort to improve its non-oil income is beginning to yield results as about 500 containers of cocoa were exported through Ports and Terminal Multi-purpose Nigeria Limited, PTML.
This is even as the investigation revealed that both PTML and Five Star Logistics are now moving all export consignments through barges to prevent such goods from getting trapped in the chaotic traffic around the port environment. Vanguard Maritime Report gathered that after the alarm raised by operators over export goods being damaged in road traffic, the management of Apapa and Tin-can Island ports have been encouraging the terminal operators to move their goods by barges… More details through: https://www.vanguardngr.com/2020/06/500-containers-of-cocoa-shipped-through-ptml-in-may/ |
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