|
Cattle business contributes about 6.7 percent to Nigeria’s Gross Domestic Product (GDP).
Speaking during a roundtable on private-sector driven National Livestock Development Policy held in Abuja yesterday, the president of Abuja Chamber of Commerce and Industry (ACCI), Prince Adetokumbo Kayode, said that is achieved through the provision of meat, milk, wool, hides and skins in activities that have great value chains attached to each of them. He said livestock supports the livelihood of about 1.3 billion people in developing countries and contributes up to 30 percent of the agriculture GDP of countries in sub-Saharan Africa… More details through: https://www.dailytrust.com.ng/cattle-biz-contributes-6-7-of-nigerias-gdp-acci.html
0 Comments
The total foreign trade of agricultural goods recorded in the country amounted to $898.3mn (N323.4bn) between April and June 2019.
N73.5bn or 22.7 percent of this figure was exported while N249.95bn was the import value, according to figures obtained from the National Bureau of Statistics. It stated that “During the quarter, total trade in agricultural goods stood at N323.4bn out of which exported agricultural goods accounted for N73.5bn or 22.7 percent. “The value of agricultural exports was 14.66 percent lower than in Q1, 2019 and 14.48 percent lower than in Q2 2018. By economic region, agricultural goods were exported mainly to Asia and Europe, valued at N49.2bn and N18bn respectively… More details through: https://punchng.com/nigeria-records-n323-4bn-agric-trade-in-three-months/ The Ministry of Science and Technology said the European Union (EU) and German Society for International Cooperation (GIZ) through the Nigeria Competitiveness Project (NICOP) are willing to partner in the implementation of Nigeria’s leather products policy.
The draft strategic Implementation plan for leather and leather products policy which is waiting for implementation, the ministry said will diversify the economy. Minister of Science and Technology, Dr. Ogbonnaya Onu said it has been projected that the leather industry stands between 40 to 50 million skins annually, generating between $600 million to $800 million annually… More details through: https://thenationonlineng.net/eu-germany-to-partner-on-nigerias-leather-industry/ Nigeria has made history by becoming the first country in the world to approve biotech cowpea, thereby adding a new biotech crop to the global biotech basket.
This is according to the Global Status of Commercialised Biotech/GM (Genetically Modified) Crops in 2018 (ISAAA Brief 54), and disclosed in a news release by the International Service for the Acquisition of Agri-biotech Applications, ISAAA on Thursday… More details through: https://www.vanguardngr.com/2019/08/nigeria-breaks-history-becomes-first-country-to-approve-biotech-cowpea/ 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/ 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 |
Categories
All
Archives
October 2019
News Archive from before July 2018
|
RSS Feed