Despite the scarcity of fertilisers in the country, eight vessels have departed Nigeria with 243,217 tonnes of bulk urea valued at $231.9 million to Brazil, Mexico, Argentina and other destinations. Dangote, Notore and Indorama firms are the leading producers of the commodity in the country. It was gathered that the country is now self-sufficient in the production of urea and the leading producer of the fertiliser brand in Africa as it produces six million metric tonnes of urea with over 70 blending plants.
 
Data by the National Bureau of Statistics (NBS) revealed that the country’s export of urea increased from $38.6 million in first quarter, 2021 to $480 million or 92 percent urea in the first quarter of 2022. It noted that the country also exported $145.4 million worth of urea to Brazil in 2021. Currently, Nigeria has been ranked by the United Nations Food and Agriculture Organisation (FAO) as the 12th largest urea fertiliser producer globally at a production capacity of 1.62 million tonnes and the 16th largest exporter with a volume of 722,479 tonnes...
 
More details at:
https://www.newtelegraphng.com/nigeria-exports-n100-7bn-fertilizer-to-brazil-others  

Nigeria exported agricultural goods worth $787 million in the first half of the year, an increase of 17.3% from $671 million recorded in the corresponding period of 2021. It is, however, a rise of 61.9% compared to $486 million recorded in the second half of 2021. This is according to a breakdown in the foreign trade report released by the National Bureau of Statistics (NBS).
 
On the other hand, Nigeria imported agricultural goods worth $2.1 billion in H1 2022. This represents an increase of 11% compared to the $1.9 billion recorded in the corresponding period of 2021, while it declined by 21% from $2.6 billion recorded in the second half of 2021.
 
More details at:
https://nairametrics.com/2022/09/22/nigerias-top-agricultural-exports-in-h1-2022
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Nigeria’s annual earnings from the production and sale of cashew increased to about $450m, the African Cashew Alliance and the Federal Government stated on Monday.
 
Also, the Federal Government announced plans to develop 22,910 metric tonnes of cashew processing plants, with the target of creating one million jobs through the value chain.
 
The President, Board of Directors, African Cashew Alliance, Babatola Faseru, said Nigeria had been able to raise its earnings from cashew to $450m annually but stressed that the target was to increase this to $4bn.
 
More details at:
https://punchng.com/nigerias-cashew-earnings-hit-n192bn-producers-target-4bn 

Fish, poultry eggs, milk, dairy and fish products worth $3.49bn were imported into Nigeria in the last two years, according to data from the International Trade Centre.
 
Within the time under review, fish products worth $2.14bn were imported into the nation, while diary products valued at $1.35bn were brought into the country. According to the Federal Government, there were 10 million primary and secondary fish producers in the nation.
 
More details at:
https://punchng.com/nigeria-imports-3-49bn-fish-eggs-milk-others

Governor of Oyo State, Seyi Makinde, has unveiled Africa’s first cassava-based sorbitol factory, constructed by Psaltry International Limited (PIL) in partnership with First City Monument Bank (FCMB) and Unilever Nigeria, in Iseyin, Oyo State.
 
Speaking at the commissioning of the factory, Governor Makinde said: “This is another value addition to cassava, which Oyo State is known to produce in large quantities. We are glad that the strategies adopted to boost agribusiness in the state are yielding the desired results. We believe there cannot be urban transformation without rural development. Our government is in full support of Psaltry International Company Limited.”
 
Describing the economic impact of the Sorbitol factory, the Founder/CEO, Psaltry International, Mrs. Oluyemisi Iranloye, said: “This factory, which is the first of its kind in Africa is projected to create 25,000 direct and indirect jobs, while empowering 10,000 rural farmers and families living within an 80km radius covering more than 20 host communities around Oke-Ogun in Iseyin, Oyo State.
 
“The factory, which will produce 24 tons of cassava-based Sorbitol daily, was financed by FCMB through the Central Bank of Nigeria’s commercial Agriculture Credit Scheme and has Unilever as the largest off-taker as part of its localisation of raw materials for production.
 
More details at:
https://guardian.ng/business-services/fcmb-unilever-partner-psaltry-on-cassava-based-sorbitol-factory
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The International Fund for Agricultural Development (IFAD) said it has directly invested $459million in Nigeria’s Agricultural sector through domestic and international co-financings.
 
She disclosed that the donor agency is currently funding two major projects in the country including the Value Chain Development Program (VCDP) in the central part of Nigeria and the Livelihood Improvement Family Enterprise Program (LIFE-ND) in the Niger Delta region as well as the Climate Change Adaptation and Agribusiness Support Program (CASP) in the North.
 
Ekoue stated that the Special Agro-Industrial Processing zone (SAPZ) to be implemented in Kano and Ogun state will soon commence.
 
More details at:
https://guardian.ng/features/ifad-invests-459million-in-nigerian-agricultural-sector  

Nigeria has imported 965,000 metric tonnes of brown sugar valued at $592.18 million from Brazil between January and June 2022 as price moved from $397 to $443 per tonne in one month.
 
The importation is 25,000 higher than what the country purchased within the same period of 2021 as Oyo, Ogun and Lagos states consumed 80 per cent of the 1.75 million tonnes of sugar imported into the country.
 
Brazil has consistently been the main supplier of raw sugar, the main ingredient for sugar production in the country, and among the list of commodities on the foreign exchange restriction list of the Central Bank of Nigeria (CBN). Statistics from Trade Data Monitor (TDM) based on the Brazilian Foreign Trade explained that Nigeria imported 1.46 million tonnes raw sugar from Brazil in 2021 and $730 million worth of the commodity in 2020.
 
More details at:
https://www.newtelegraphng.com/nigerias-sugar-import-from-brazil-hits-n385bn
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The Nigeria Proptech Association has said that the country’s proptech industry’s market size has reached an all-time high of $11.7bn and is expected to hit approximately $23.7bn by the year 2027.
 
President of the association, Roland Igbinoba, stated this during the just concluded NIPROPTECH 22 conference in Lagos.
 
He said, “Property technology is the intersection of technology across the real estate value chain. Proptech is growing rapidly in market size and it is making a compelling case for the transformation of real estate across the globe.
 
“The global real estate technology market size was estimated at $11.7bn in 2022 and is projected to grow at a compound annual growth rate of 12.5 per cent to reach $23.79bn by 2027.”
 
More details at:
https://punchng.com/proptech-industry-growth-will-hit-23bn-says-group/
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Dangote Sugar Refinery is pumping billions of naira in backward integration projects in Adamawa and Nasarawa states in order to plug the annual sugar imports estimated at ₦425bn.
 
In 2021, sugar imports into Nigeria reached ₦425bn, according to estimates by the National Bureau of Statistics.
 
The investments are also expected to boost the country’s quest for self-sufficiency in sugar production as the country plans to produce 1.5 million tonnes of refined sugar from sugar plantations covering 150,000 hectares of land across various sites.
 
More details at:
https://punchng.com/dangote-expands-sugar-investments-to-close-n425bn-bill 

The Minister of Agriculture and Rural Development, Dr. Mohammad Abubakar, has announced that Nigeria would partner with the Brazilian government on the supply and distribution of 10,000 tractors to farmers across the country.
 
He stated that the partnership with Brazilian counterparts would ensure the provision of 10,000 units of tractors, 50,000 units of assorted implements and equipment for assembly in Nigeria, 142 turnkey factories for agro-processing as well as training of the project beneficiaries over a period of five years.
 
The minister gave the indication at the opening ceremony of Africa’s Agricultural machines and equipment technology expo on industrialising Africa’s agriculture through technology and innovation that was held in Abuja recently.
 
More details at:
https://www.thisdaylive.com/index.php/2022/06/28/fg-partners-brazil-to-mechanise-nigerias-agricultural-sector/