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Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Dr Ernest Umakhihe said Nigeria currently imports 2.2 million tonnes of fish while it produces 1.1 million tonnes against the total demand of 3.6 million tonnes annually.
Umakhihe who disclosed this yesterday in Abuja at the Independent Dialogue on the Transformation and Future of Aquatic Food Systems in Nigeria, said 10 million Nigerians are actively engaged in primary and secondary fisheries operations, and the contribution of fisheries to the National Gross Domestic Product (GDP) is about 4.5 per cent. While noting that the vision of President Muhammadu Buhari is to grow Nigeria’s agricultural sector to achieve a hunger-free nation through agriculture that drives income growth, accelerates food production to address the food and nutritional security, he said the Ministry has played a key role in addressing aquatic food systems which include “backward integration policy of Government to encourage fish importers to go into commercial aquaculture… More details through: https://thenationonlineng.net/annual-fish-import-now-2-2-million-tonnes/
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Some 3.21million tonnes of raw sugar valued at N630.7billion ($883.1million) have been imported by sugar merchants to Nigeria within two years. The huge import, it was learnt, has blighted the government’s decision to provide 110,000 jobs under it Backward Integrated Programme (BIP).
According to Trade Data Monitor (TDM), Brazil’s cumulative raw sugar exports to Nigeria from April 2019 to March 2020 season was 1.59 million tonnes valued at N312.4billion ($637.6million), while in 2020/21 season imported raw sugar was 1.62million tonnes valued at N318.3billion ($649.6million). Also, Nigeria’s domestic cane sugar cane production has slumped from 75,000 tonnes to 70,000 tonnes, down by about 6.7 per cent within one year as top sugar producers such as Dangote, BUA and Golden Sugar blamed the underperformance of the domestic sugar production on flooding, conflicts in land acquisition, insecurity, infrastructure deficit, environmental issues and skills deficit… More details through: https://www.newtelegraphng.com/nigeria-imports-n630-7bn-raw-sugar-from-brazil/ Despite government’s restriction on importation of parboiled rice, two million tonnes of the produce valued at N441 billion ($900 million) are currently contending with Nigerian local variety in the market. Benin Republic,
Nigeria’s closest neighbour, provides easy turf for smugglers to move things into the country. Ironically, most citizens of the former French colony do not consume parboiled rice, which arrives the country en route Nigeria in large quantities. In 2020, a total of 1.56 million tonnes of the grain valued at N350 billion ($780 million) were smuggled to Nigeria’s neighbouring ports, according to a data by Index Mundi, a global trade portal on import and export. Although, Thailand Rice Exporters Association (TREA) lost 1.2 million tonnes of rice valued at $819.6 million in Nigerian market in 2019, following import restriction by Central Bank of Nigeria (CBN), Nigeria is still facing two million deficit of the grain as local consumption has reached seven million tonnes… More details through: https://www.newtelegraphng.com/amid-restriction-n441bn-foreign-rice-hits-nigerian-markets/ The Bayelsa State government on Thursday announced the signing of a Memorandum of Understanding with a European fishing consortium in a move that would provide a significant uptick in the state’s agricultural sector.
The MoU with the consortium, Africa Atlantic Gulf of Guinea Fisheries, which includes some Nigerian firms, was facilitated by the Federal Government through the Senior Special Assistant to the President on the Niger Delta, Senator Ita Enang. At the ceremony in Government House, Yenagoa, Governor Douye Diri said that the deal would generate employment for no fewer than 4,000 youths with 2,500 to be trained in fish farming… More details through: https://punchng.com/bayelsa-european-consortium-sign-fishery-deal-to-employ-4000/ As part of expansion plan to boost fertiliser presence in Nigeria and other parts of Africa, the International Finance Corporation (IFC) has gone into an arrangement with OCP, a phosphate mining and fertiliser group, to finance the group’s presence in the region.
The finance organisation is to support OCP expand its value chain in Africa, as part of its effort to contribute to the economic development of the continent and to set up sustainable food systems in the region. According to the deal, IFC’s $100 million financing will help OCP Africa, a subsidiary of OCP, to expand its logistics networks and increase the availability of fertilisers, adapted to local soils and crops, in Nigeria, Cote d’Ivoire, Ethiopia, Ghana, Kenya, Senegal, and Tanzania. The development infers that Nigerian farmers will be exposed to a wide range of fertilisers as Dangote Group has also commenced sales of fertiliser… More details through: https://www.newtelegraphng.com/ifc-moroccan-firm-set-to-boost-fertiliser-presence-in-nigeria/ Nigeria is targeting to earn $4.53 billion annually from export of mushrooms to the international market.
This was disclosed Wednesday by the National President of the Mushroom Growers, Processors and Marketers Association of Nigeria, Chief Michael Awunor, at the inaugural summit of the association held in Abuja. Awunor told the summit that the world mushroom market as of the end of 2020 stood at about $45.3bn and Nigeria is determined to earn 10 percent of it… More details through: https://dailytrust.com/nigeria-to-earn-4-5bn-yearly-exporting-mushroom Nigerian billionaire Aliko Dangote’s new fertiliser plant near Lagos will export its first shipment in late June or early July, to Louisiana, while the majority of exports from the plant are expected to go to Brazil, Dangote said on Tuesday.
The new plant at the Lekki Free Zone in Lagos State, designed to manufacture 3 million tonnes of urea per year, will also be able to supply all the major markets in sub-Saharan Africa, Dangote told a virtual economic forum hosted by Qatar. “Apart from meeting the domestic demand, we are going to be able to earn quite a lot of money exporting the goods to the South American countries,” he said… More details through: https://www.reuters.com/article/idUSKCN2DY1D7 Arla Foods, makers of Dano Milk, has said it will build a state-of-the-art commercial dairy farm in Kaduna and will train up to 1,000 local dairy farmers.
The firm in a statement Wednesday said, it is part of its long term commitment to public private partnerships that support the development of the Nigerian dairy sector as part of the country’s efforts to increase local food production. Located in Kaduna State, the 200-hectare farm, which would open in 2022, will have housing for 400 dairy cows, modern milking parlours and technology, grass lands and living facilities for 25 employees… More details through: https://dailytrust.com/firm-to-build-dairy-facility-in-kaduna As the Federal Government maps out plans to partake in the $36 billion global coconut market, the produce may be another low hanging fruit that could make a positive difference in Nigeria’s economy, ABDULWAHAB ISA reports
To a majority of people, coconut is just another class of fruit, birthed by coconut palm. Its crispy edibility perhaps makes it an irresistible liking by people who make coconut part of their menu. A cash crop, coconut is more than the ‘casual’ nutritional value it offers. The untapped economic value is humongous. Hitherto, the economic aspect of the fruit was hidden to many. In Nigeria, there is a sudden awakening to the untapped economic mileage inherent in coconut. The fruit is a billion dollar spinner. The Nigeria’s economy is set to tap into it… More details through: https://www.newtelegraphng.com/36bn-market-coconut-as-nigerias-low-hanging-fruit/ The volume of trade between Nigeria and South Africa hit $2.9 billion last year with expectation of it rising further with the African Continental Free Trade Area (AfCFTA) agreement.
Nigeria’s Consul General, Malik Abdul, in a statement noted that Nigeria accounts for 64 per cent of South Africa’s trade in West Africa and is one of his country’s top three sources of crude oil. He further added that in 2020, South Africa imported R35 billion ($2.48 billion) worth of goods, predominantly crude oil from Nigeria and exported R6 billion ($425milion) to Nigeria… More details through: https://www.thisdaylive.com/index.php/2021/06/16/nigeria-south-africa-trade-hits-2-9bn/ |
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