Agriculture

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Agriculture General News

FG to provide N30bn to universities of Agric to start mechanised farming 

Abuja, Dec. 17, 2024 – The federal government is to provide N30 billion to the 30 universities of agriculture in the country for them to commence mechanised farming. Dr. Tunji Alausa, the Minister of Education, disclosed this on Tuesday while declaring open a retreat organised by the Ministry of Education for pro-chancellors of federal universities. He said each university would receive N1 billion as take-off grant for the mechanized farming. The federal government had also directed specialised universities to focus strictly on their core mandates and stop offering unrelated courses. …

Agriculture General News

FG, World Bank to scale up rural access, agricultural marketing

Abuja, Dec. 14, 2024 – The federal government has said it was collaborating with the World Bank to scale up the Rural Access and Agricultural Marketing Project (RAAMP) in Nigeria. Aliyu Abdullah, the Minister of State for Agriculture and Food Security, disclosed this in Abuja on Friday at a news conference. He said the RAAMP project was an on-going project and had been implemented across 19 states of the federation. The minister said out of the 19 states, 16 had already passed laws establishing their state’s rural access rule authority …

Agriculture

FG will reform livestock sector to attract investors – Tinubu

Rio de Janeiro (Brazil), Nov. 22, 2024 – President Bola Tinubu has promised to reform the livestock sector in Nigeria in the bid to check farmer-herder clashes, hunger as well as poverty. He made the promise on Thursday in Rio de Janeiro, Brazil while signing of a Letter of Intent between Nigeria and the JBS S.A, one of the top three largest global meat processing companies. The president said the federal government was determined to reform the sector to attract local and international investors. “What we are doing right now …

Agriculture

FG secures $134m AfDB loan to boost seeds, grains production

Abuja, Nov. 14, 2024 – Nigeria has secured a $134m loan from the African Development Bank (AfDB) to boost seeds and grain production in the country. Eremah Anthonia, the Chief Information Officer in the Ministry of Agriculture and Food Security, disclosed this in the statement on Thursday, The statement quoted Abubakar Kyari, the Minister of Agriculture and Food Security, to have said this during the flag-off of the 2024/2025 National Dry Season Farming initiative in Calabar. The minister said the reintroduction of the national dry season farming was key to …

Agriculture Money market

BoI launches mobile app to monitor food prices across 8 states

Abuja, Oct. 4, 2024 – The Bank of Industry (BoI) has launched a mobile app, Pricesenseng, to check food prices across eight states in the country The app is for real-time monitoring of price variations of food commodities such as rice, beans, tomato, maize and others in different states across the country It covers eight states of Borno, Plateau, Rivers, Oyo, FCT, Lagos, Enugu and Kano. Olasupo Olusi, the Managing Director (MD) the bank, disclosed this during the bank’s annual public lecture series with the theme ‘Creating Impact: The Role of MSME Support …

Agriculture Capital market Manufacturing/Industry Money market Oil and Gas

US economy on ‘soft landing’ path, Fed’s policy rate will fall to neutral level – Yellen

Washington, Sept. 26, 2024 – US Treasury Secretary Janet Yellen said on Thursday that labor market and inflation data suggest the US economy is on a path to a “soft landing,” but the “last mile” on taming inflation is bringing down housing costs. Yellen told CNBC in a live interview that based on comments from Federal Reserve officials, the US central bank’s benchmark overnight interest rate will continue to decline to a neutral policy level. “I always believed that there was a path to a soft landing, that it was …

Agriculture

Floods destroy foods for 8.5m Nigerians – FAO

Abuja, Sept. 25, 2024 – Floods have destroyed crops that would have fed 8.5 million people for six months, the United Nations’ Food and Agriculture Organization (FAO) estimated. Farmers in Nigeria were expecting a bumper harvest this year, but land planted with groundnuts, vegetables and rice has been inundated, the organization said in a response to questions on Wednesday. Livestock ranging from chickens to cattle have drowned. The floods, which stretch from Guinea on Africa’s west coast to the Central African Republic more than 2,000 miles to the east, have …

Agriculture Politics

Tinubu donates 100 trailer-loads of rice, other food items to Maiduguri flood victims

Abuja, Sept. 21, 2024 – President Bola has donated100 trailer-loads of rice and other assorted food items to flood victims in Maiduguri, Borno State. Abubakar Kyari, the Minister of Agriculture, disclosed this in a statement on Saturday. The president also donated 50 trailer-loads of maize, 30 trailer-loads of sorghum and 20 trailer-loads of millet to the state government to help mitigate the plight of the flood victims. “Following the visit of our President and Commander in Chief of the Nigerian Armed Forces, President Bola Ahmed Tinubu, GCFR, to Borno State …

Agriculture Commodities Foreign Manufacturing/Industry Maritime/Shipping

Ghana’s economy grew by 6.9% in Q2 2024, fastest in five years

Accra, Sept. 18, 2024 – Ghana’s economy grew by 6.9% year-on-year in the second quarter of 2024, the fastest rate in five years, boosted by expansion in several key sectors, the country’s statistics agency said on Wednesday. The strong growth represents a significant recovery for the producer of gold, oil and cocoa which has been grappling with its worst economic crisis in a generation due to skyrocketing public debt. “The 6.9% growth rate is highest since the second quarter of 2019 and it was driven largely by strong expansion in …

Agriculture General News

Economic Hardship: BoI donates food items to Niger State

Minna, Sept. 12, 2024 – The Bank of Industry (BoI) has donated food items to the Niger State Government for distribution as palliatives to vulnerable persons in the state. This was announced by Abdulbaqy Usman Ebbo, the Special Adviser to the Niger State Governor on Digital Media. He said the items would be distributed to those in need to alleviate their sufferings during the current economic challenges.  “The items were received by the Deputy Chief of Staff to the Governor, Sadiq Yusuf, along with the State Commissioner for Environment, Yakubu …