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The Federal Government, the United States and other stakeholders have mapped out strategies to mobilise $300m to support investment and boost business in the agricultural sector in the country.
The fund aimed to reach at least 5,000 small and medium enterprises in order to expand opportunities for agribusiness borrowers and lenders in Nigeria. Vice President Yemi Osinbajo, while speaking during the launch of the initiative in Abuja on Tuesday, said the Federal Government was creating the enabling environment and would ensure coordination among the states, the Federal Government and the US to achieve the target… More details through: https://punchng.com/nigeria-us-to-mobilise-300m-for-agribusiness/
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Nigeria’s Agriculture sector is set to benefit from a multibillion Dollar investment worth $25b from a Chinese team of investors. The investment package which is being put together by the Africa Development Bank, AFDB is expected to boost the agriculture sector, with specific focus on crop production, forestry and livestock production.
More details through: https://businessday.ng/agriculture/article/nigerias-agrics-sector-to-benefit-from-25b-chinese-investment/ Nigeria’s central bank plans to extend a low-interest loan offer to local milk producers to discourage imports after it curbed access to forex for the sector.
The bank said in a statement that it had met with milk importers, after the currency restriction was announced this week, to offer them cheap credit to try and boost output locally instead of relying on “endless” imports. Keen to reduce imports of products that can be produced locally and to conserve dollar reserves, the bank has also offered cheap credit to rice, tomato and starch importers for the same purpose… More details through: https://af.reuters.com/article/nigeriaNews/idAFL8N24S0OY The United States on Thursday announced that it had invested about $165m (N50.56bn at the official exchange rate of N307 to one dollar) in the development of Nigeria’s agricultural sector in four years through its Feed the Future initiative.
It also signed an agreement on the declaration of partnership with the Federal Government to begin a five-year agriculture programme known as Feed the Future Nigeria Country Plan… More details through: https://punchng.com/agric-us-invests-165m-in-nigeria-in-four-years/ Nigeria consumes a minimum of N1.2bn (over $4m) worth of rice every day, the Rice Farmers Association of Nigeria stated on Wednesday. RIFAN said its findings also showed that virtually all rice consumed across the country were cultivated and processed locally.
The association’s National President, Aminu Goronyo, disclosed this at RIFAN’s office in Abuja while refuting the claims in an advertorial that was made against the organisation and the Central Bank of Nigeria… More details through: https://punchng.com/nigeria-consumes-n1-2bn-worth-of-rice-daily-rifan/ Nigeria is losing over $277,000 (N100million) annually to production of tomatoes, pepper, cabbage, carrot, cucumbers and other vegetable seeds annually, the first Professor of Seeds and Technology in Nigeria and a Professor at Obafemi Awolowo University, Ile-Ife, Sola Ajayi, has said.
He said Nigeria has poor and minimal proportions of seeds being produced locally, except for local vegetable crops… More details through: https://www.dailytrust.com.ng/nigeria-loses-n100m-to-foreign-seeds.html The market for cassava peel waste is currently valued at $277,000 (N100 million) yearly, it was learnt at the weekend. The Deputy Country Director, Synergos Nigeria, Victor Adejoh, said the demand for the waste has grown exponentially, adding that it has become a hot cake for fish millers.
He said this follows increasing attempt to convert cassava peels as livestock feeds to address shortfalls in the supply of animal feed. He said the development of cassava-peel-for-livestock-feed project is highly promising… More details through: https://thenationonlineng.net/cassava-peels-market-reaches-n100m/ The German government, with support from the Bill and Melinda Gates Foundation, has provided €2m for the implementation of the second phase of the Competitive African Rice Initiative in the country.
The Programme Director of CARI, Mr Jean-Bernard Lalannehe, disclosed this on Wednesday to newsmen in Abuja. Lalannehe said the second phase of the project known as CARI-2, would be implemented in Kebbi, Kaduna and Jigawa states… More details through: https://punchng.com/german-govt-invests-e2m-in-nigerias-rice-production/ The Norwegian Seafood Council, NSC, has said that Nigeria imports more cod (stock) fish than any other country in the world.
Speaking to Vanguard Maritime Report last week in Lofoten, a fish processing island in Norway, NSC’s director in charge of West and Central Africa, Mr. Trond Kostveit, however, said that Nigerian importers take more of the head of the item (okporoko) than any other part of the fish while more of the valuable parts go to Italy and other parts of the world… More details through: https://www.vanguardngr.com/2019/05/nigeria-worlds-largest-importer-of-stock-fish-norwegian-council THE Russian Fishing Company, RFC, is currently mulling plans to perfect its exports of Pollack and Herring fish to Nigeria, Ghana and other African countries, the World Fishing Aquaculture Report has said.
According to the Chief Executive Officer of the RFC, Mr. Fedo Kisanov, the firm is looking forward to increasing its volume sales of pollock and herring fish in these African countries in the next few years. Kisanov disclosed that before now China was traditionally its biggest market for this species of fish, adding that the firm hopes to expand its market share in Africa. More details through: https://www.vanguardngr.com/2019/05/russia-targets-nigeria-other-african-countries-for-fish-export/ |
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